Middle-Class Life with a Lower-Class Financial Mindset
Work monthly but earn daily.
Disclaimer: You can skip this post if you are a millionaire.
What has this lockdown taught me about my financials? I need to work on them.
I work for an MNC — 2 years now. What have I learned about money? Nothing. I sure did read a few articles and blog posts here and there on how to save and invest. I even read an article on how I can become a millionaire by the age of 65.
All that is helpful but do you think a guy working a 9–5 will ever take things so seriously especially when he is working on a bare minimum with his arse deep down in a perfectly dug comfort zone? I don’t think so.
*Come in COVOID-19.
This pandemic taught me more about money than any blog or video ever could. Why? Maybe because all that I read was theory and just words, which I read a lot every day.
But, this is practical and in front of my eyes. The effect and consequences are there — and no one can ignore them.
I saw people struggling to stay in their current jobs while others losing their jobs just like that.
I saw daily wage workers not being able to afford a single meal. I saw an 11-year old die with hunger.
I saw people walking miles to their homes from one state to another — hundreds of miles. I saw an elderly man die because he walked more than 125 miles.
Yes, if they could earn like us, from 9–5, a monthly income, they might have been able to stay inside with their families and enjoy the quarantine period until it all came to an end.
But, is it that easy? A lot of 9–5 workers have lost their jobs as well. What about them? They are not accustomed to earning daily. All they know is to work a month, get a paycheck, and repeat. If they lose their job, then what? Who will hire them at this time when companies are barely making any profits while they still have to pay their current employees?
When you look at the behaviors of both, the daily as well as the monthly earner, you can compare and make a good analysis out of both of them, which is:
Work monthly but earn daily.
I recently stumbled upon this paradigm and personally, I like the idea. Let me explain how.
- You don't have to be uncertain about tomorrow. I am not asking you to earn every day without any certainty of what is going to happen tomorrow. What I am asking is that even though you don’t work tomorrow, you should still earn.
- You don’t have to only work for a monthly paycheck and always live in the fear of how safe your job is.
- What I am asking you to do is to work for a monthly paycheck so that there is a certainty that you will get a bunch of green bills one day.
- You have to work on your side hustle as well so that you have a certainty of earning daily even if you were to lose your daily job.
Unless and until you have a business that can provide you with enough capital to not work a day job, you will have to work for a paycheck (are the millionaires still here?).
Earning a daily wage will assure you that you will not go hungry in case of an emergency.
Earning a monthly income will provide the relief of still earning money when your daily buck is taking a serious hit.
And if both of your income streams are going good, then you are in it for a treat. My point of sharing this article with you is to show you how at least two different and discreet sources of income can be beneficial for you, and, if you have a family, for them as well.
We all know that we need at least two sources of income and that we should never put all our eggs in the same basket. What I have done here is to show you a practical scenario of how this idea works in reality.
This is just one of the thousand scenarios out there.
You can have 2, 3, 4, 5, or ’n’ number of income sources. Work it out and make it happen.
But, no matter what you do, remember this paradigm, that you need to earn daily and monthly. You need to earn even when you are sleeping. That is the freedom you must have in mind.
That is the freedom that makes you free. And happy.
Call To Action
This is not your daily dose of motivational crap. This shit is real. What I want you to do is grab a pen and paper and write this down:
What am I good at?
What am I doing? How can I improve it?
What problem can I solve in my community?
Can I improve an already existing idea in my neighborhood?
Make an XLS if you can. Rows and columns. Pros and Cons. Investment and ROI. Resources and Time. Audience and Product.
You don’t have to make another Facebook right away. Start small. Your house. Your neighbors. Your community. Your district. And so on. You get the idea.
Someone sent me a quote recently about Jeff Bezos and Amazon. It goes something like this:
“There is a 99.9% chance you won’t be the next Jeff Bezos and build the next Amazon.
But the odds were the exact same for Bezos when he was trying to start Amazon.”
I agree to this up to some extent because you and I have the same hours that Jeff or Elon or Mark had. They did not have a magic portal to a new world where the time slowed down.
Although, I am not trying to build the next Amazon. I am not. If I try to do that, of course, I am going to fail.
I am not Jeff Bezos and I don’t want to be.
I want to be me and I want to build my own company — Everything Unorthodox.
And how big I want my company doesn’t have anything to do with how big Amazon is or will be. I will never compare my life or the size of my company with Jeff or with Amazon respectively.
My definition of success is not the same as theirs.
Similarly, you have your own interests and your own goals. There is no set standard for how big or small your company has to be. What matters is you work hard and smart towards what you want to build and do what you love.
Don’t worry about the details right now. You only need to get started. You only need to get in the habit of creating.
Done. I wish I could ask you to come back 20 years from now and read this article again to thank me but you’ll probably be a millionaire by then and you won’t read this article. Why? See the disclaimer.