No, no scam here, it’s just that I wanted to get your attention because you need to know how to earn extra cash without the hassle of spending long hours trying out different make money schemes.
The thing is, you need to know how people who have money, get their money. Think about it for a moment. Most rich people inherit their wealth. Yes that is true, but cut out those who inherited, what is common about rich people such as Sir Richard Branson (Virgin Boss) or Simon Cowell (American Idol)? I think Simon Cowell is an excellent and more contemporary example of how someone earns money the easy way.
Before going there, let me tell you about how it was back in the day. The father would go out to earn the daily crust for the family whilst wifey stayed at home to cook, clean and raise the kids. Wifey got her money from the man of the house at the end of the week, when he would give her the weekly allowance. Back in those days, one income was enough. Fast forward a decade or two and the revolution has happened and women learn they too can earn money by going out to work.
So she does, but then that means that someone’s got to look after the kids, and do some of the housework now she’s not home all the time. So more money is needed. Soon as the kids grow, there’s needs to be more money to send them off to college, buy new car, buy bigger house blah blah blah, you know the script don’t you.
Now bring it right up to date, and at the moment, we’re fearing the worst with the world economy as it is and declining (today Oil hit a new high at $120 per barrel). The implications in all areas of our lives are quite drastic, but people have weathered economic downturns and even depressions before and come out the other side. The thing is are you going to be like Simon Cowell?
This week in London, despite the doom and gloom, the glitterati attended a charity gala to raise money for Ark foundation. The do raised £25m for the foundation. There’s a few people there who are not short of a bob or two. People who have money, know how to take care of things if the worst happens. Truth is many people with money have not one but many streams of income, and for you to earn extra cash, not just to pay for small luxuries, but to see you through when times are tough, you must take on this strategy.
Think what happens if I lose my job? Can my family and I survive on one income alone? I know we can’t, that’s why I am writing this post today. I need to generate more extra income so that if the worse happens and there’s no work on Monday, I know that I will still have cash coming in that can feed me and mine.
Learn from those who know
I remember a scene from “The Cosby Show” years ago when one of the kids (that I do forget but I think it was Theo) asked their mum if they were rich. To their question, Claire Huxtable replied, “no honey, we work for our money, our money does not work for us“. What Claire was explaining to her knowledge challenged child was that if they didn’t work, regardless of the level of income they had between them as a Doctor and a Lawyer, then their lifestyle would suffer. Sure they had savings, but savings only last a certain amount of time before lifestyle changes are required, if there is nothing to top up the pot.
People who know, not only have multiple income streams, but they have what’s known as residual income. Traditionally people earn cash by working a set number of hours and receive payment for that. If you don’t work those hours, you don’t get paid. Residual income, is income that is made regardless of the time you spend working at it. Ideally the only time you spend making residual earnings is the time you take to set it up and perhaps some promotion and maintenance time. I know it’s taken a while to get to this point, but this is how to earn extra cash the easy way.
If you’re smart, you’ll be making sure that you move from working for your money to making your money work for you. I mentioned Simon Cowell above, but didn’t really go into why he’s the model that you should be thinking of following? Do you know why? Do you think that Simon Cowell works hard in relation to the huge wealth he generates both for himself and others?
I’ll be writing some more on residual income and how to start setting up your income streams that will allow you to earn that extra cash the easy way. Before you know hopefully, you’ll be thinking about earning money in a different way.