How to Make Money in the Short Term (What to Do While Your Waiting For Your Long Term Goals)

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Hello All!

We all have heard about the great success stories of people who grinded no matter what they went through in life to achieve their every goal and desire. They explain how it took them YEARS to get there and how they had to be very patient in order to get to the place they are today. Even in the investing world, the name of the game is to be patient and passively invest in index funds over a 10-15 year period.

Learning about this, it becomes apparent that with a little time and dedication, we can achieve what we really want in life. So then what should we do in the meantime while we are striving to achieve our dreams?

Our quality of living still needs to be enjoyable and we still need to live our lives to the fullest. After all, we only have so much time on this earth, so we best make the most of it.

With this in mind, here are some tips and habits that I have added into my own life which have helped me stay on track towards my goals as well as keep me living an enjoyable life all the while.

Finding a Short Term Solution to Your Funding

Throughout my life I have always said that I could never picture myself getting a regular job that makes me feel mindless. The thought of having to go to something that I don’t enjoy every day terrifies me. Due to this fear, I have made sure to get very crafty with how I make my income.

Don’t get me wrong, I enjoy having a regular job as well, as long as it aligns with my personal goals and I enjoy what I am doing. I fully believe that regular jobs are ok to have, as long as you don’t feel like they are making you sedentary.

I found that the second that I felt sedentary was the second that I needed to either quit or pivot. Our time is the most valuable thing in our lives. If we aren’t using it to grow constantly, we might feel unfulfilled or even unmotivated.

There is an exception however,

If getting a job is your ticket towards achieving your actual dream by allowing you to live comfortably in the mean time, then it might be in your best interest to get any job that is easily available. For example, if you are an aspiring actor, you might decide to pick up a restaurant job serving tables in order to make ends meet while you are pursuing your goal. Although it may not be the most enjoyable thing in the world, having the notion that you are there to allow another dream to live is something that should be put in the spotlight.

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For a while, I was even buying and selling different items on eBay in order to make a profit! This was perfect for my situation because I didn’t want a job and I had the skills to be able to live off of this resellers business if need be. Eventually I had a steady couple hundred dollars coming in which I could rely on to pay for personal needs.

If you have any skills or talents, hone down on those as well! Ever since the beginning of COVID I have asked myself what skills I can use in order to make some type of income. Soon, I started to build computers as well as websites for family and friends which has helped a lot in the long run. Hone down on those skills so that you can use them to your advantage in the short term!

“It’s All About Who You Know!”

Networking is one of the most important resources any business minded person has. I am sure you have heard the phrase, “It’s all about who you know”. I can’t even begin to tell you how true this is.

The ability to build computers and websites for friends and family would have never been possible if I didn’t know people who were in the market for those commodities. It soon became apparent that if I wanted to make any sort of money in the short term, I had to make it known that I had a certain skill and that I could provide some sort of value to them.

I have a blog which goes further in depth about using your skills to achieve more money in the short term here if you are interested about learning how to do this.

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There’s a saying that I have recently adopted to my own life which has shifted the very nature of how I view my relationships with people. It goes a little something like this…

“The toes that you step on on the way to the top, are connected to the butts you have to kiss on the way back down”.

Moral of the story is treat everyone nicely and try to develop some type of a relationship with them while you are waiting to achieve your dream! I can’t stress enough that your network will be one of the most important resources you will have later in life, not to mention those relationships that you build are FULL of short term monetary solutions.

“Debt as an Asset”

This concept is indeed NOT for the faint of heart. When we think about debt, we think that it can be a pathway to endless problems in life. HOWEVER, according to Ray Dalio, did you know that the total amount of credit in the U.S. is about $50 trillion compared to actual money only being $3 trillion?

An economy with credit allows for an increase in spending which is extremely important for people and businesses who don’t have enough money to allocate towards assets.

Now let me set something straight. Debt can actually be bad if it is spent on liabilities, things that don’t produce any real monetary value back to the consumer that purchased it. These things include T.V.’s, new cars, boats, all things that don’t generate any real source of income.

When credit is used to purchase assets that will actually pay you back, then you will have made an economically sound decision for your short term monetary needs. If you find an investment that you know will generate a monthly income however you don’t have the finances in order to do it, find an investor! Find anyone who is willing to fork out the money so that you are able to undergo your venture soundly and begin generating that income.

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It is important to realize that in the beginning, we are limited on our resources. Being as resourceful as possible to achieve the goals that we have is a HUGE skill that can help ease the process towards your end game.

Like I said in the beginning, this concept is not for the faint of heart. You should be very sure about your numbers projected before acting on an idea. Eventually, if you are sure that what you are doing will make money in the long run, consider taking on the credit to create wealth!

If you have any questions about these concepts don’t hesitate to reach out. Any opportunity to get feedback from you the reader is much appreciated!

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Andrew Martinez, owner and writer of Minerva Money

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Published by Andrew Martinez

Owner and writer of Minerva Money, a blog on personal finance for the average person who is interested in taking control of their future and alleviating themselves from the burden of uncertainty. I have a deep passion for helping those around me with not only finance but mental well-being so if you have any questions or just want to talk don't hesitate to reach out!

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