Spending cash is simpler than making some
Ever since I began writing on-line virtually 4 years in the past, I made more cash than I ever thought attainable. I haven’t change into a millionaire simply but, I haven’t moved to a distant island dwelling off passive revenue sipping piña coladas on the seashore both. As a substitute, I saved my 9–5 job, and I used a variety of the cash I generated on-line to attempt to increase my enterprise. However once I look again on the previous 5 years, I typically surprise the place the cash went.
Revenue diversification is essential to any on-line enterprise. Listed below are my totally different revenue-generating channels:
- Writing on medium.com
- Promoting digital merchandise on my web site
- Creating video programs on Youtube.com
- Do some freelance work (every so often, not so much)
Altogether, this has introduced in virtually $100K over the previous 5 years. But once I open up my checking account to verify the steadiness, it’s nowhere close to that quantity. I delight myself on being good at managing my cash, saving and investing so much for a wet day. I dwell beneath my means and I spend slightly frugally. I might afford to drive a a lot nicer automotive than the one I’ve, however I solely use it to go from A to B, to not exhibit on the pink gentle. I purchased a home beneath our price range to verify we didn’t begin dwelling above our means. On the finish of the day, I do have some cash left from the $100K, and that’s higher than somebody who would have blown by means of all of it. However I’m typically undecided if the whole lot I spent with a “progress technique” in thoughts was price it (extra on this later) and if there are some issues I might have completed to have extra left as we speak.
With that in thoughts, I assumed I’d listing down an summary of how I spent the cash I made on-line over the previous 5 years. This has a double profit, each for me and my viewers:
- I get to go over my funds, get extra readability on my cash, be taught some alongside the best way
- My viewers will get to see what it’s prefer to run an internet enterprise, be taught concerning the working prices, and hopefully get impressed from an entrepreneurial perspective.