We are constantly going through a shifting economic environment. From day to day, month to month, there are opportunities to earn a lot of money. I often find myself trying to think outside the box and look for opportunities to pounce on situations where I can earn a lot of money.
Here are 3 things I’m doing now to position myself financially to jump on future potential money opportunities.
- My home exploded in value the last few years. But that equity does literally nothing for me when it comes to earning money right now. Im currently taking out a HELOC loan out since I’m able to access so much equity right now. I’m setting it up now because I can lock in the amount I can borrow. That way when I see an opportunity I can’t turn down I can INSTANTLY have access to that money. Be sure to ask questions and find the right credit union. I found one that is $100 per year to have open. No other fees to keep my balance at $0. Here is my favorite book if you’re interested in doing something similar. https://amzn.to/3EvbWCV I highly recommend getting the physical book as it helps you break away from the phone.
- This one is a way to jump on an opportunity without have any money at all since not everyone owns a home. Start a side hustle or second job. Use every penny that income gives you to build passive income. Build a dividend portfolio, stake your crypto and earn money, start a YouTube channel, pay someone to create a digital product you can sell. This list goes on, get creative and follow your passions and stick with it.
- Educate yourself on finances. Get yourself out of debt. Increase your income. Find a life passion and obsess about it. If you do these things you will find yourself in positions where you will more often have opportunities to increase your wealth. Finally, act on the knowledge that you gain from educating yourself, leverage your finances to be able to increase your income and go get some real life experience. I’ve learned that experience will teach you far more than you can learn from a book, so don’t be afraid to get out there and fail as long as you’re willing to get yourself back up.
Now go get some XP from my post about how to get a perfect credit score.