Bad Habits That Make You Fail

Bad Habits Main
6 Bad Habits

We live our daily life with good and bad habits. We practice these habits un-noticeably everyday and these habits affect our life or even could decide where we will be in the future.

Everybody like good habits but not everyone can persist to the good habits and eliminate the bad ones. That’s the reason why 5% of the population could control 90% of the world wealth. Let’s discuss further the bad habits that you should avoid in order to be rich.

Bad Habit 1: Not Investing Their Money

It is understandable that ordinary people earn a limited income that might be just enough to sustain their lifestyle.

The poor tend to spend all the money that they earn and keep complaining that their wages is just not growing and they can’t be rich.

Here is the thing, your money will not grow in the bank as the interest rate is so miserable and never outpace the inflation.

The rock solid rule to be successful as below:

Income – Savings (Investment fund) = Expenses

Save BEFORE you spend instead of spend before you save.

It could be investing in stock market, ETF, mutual funds or other relatively low risk investment tools. The border line is do not leave the money sleep in bank.

Bad Habits - Not Investing
Not Investing

Bad Habit 2: Not Investing In Yourself

Investing your money could be important, investing in yourselves is even more important as you could lose all your hard earn money if you invest blindly.
Be it learning a new skill or enhancing your financial knowledge, it could never go wrong by investing your time and money to yourself.

Hold your fate and destiny within your own grasp rather than putting it on other people’s hand. It might be convenient by getting other people to perform the task and invest on behalf but it will be great regret if anything goes wrong and you don’t even know what happen.

Bad Habit 3: Living Out of Your Means

The problem with the ordinary people is there is no budget in spending and spend more than they earn. The results, they will always struggle with overwhelming bills and debt.

To end this struggle, a budgeting blueprint will need to be in place to optimize your spending.

For example:

  • Major necessary spending (housing, car, etc…) – Not more than 25% of your total income
  • Living necessity (food, basic clothing) – Not more than 15% of your total income
  • Entertainment (movie, vacation, bar/club, etc…) – Not more than 10% of your total income
  • Self-enhancement (taking advance course or learning new skill) – Set aside 10% of your income to upgrade yourself if possible.
  • Backup fund (For emergency use or standby for variation of the items above) – 10%

Adhere to the budget above you will have at least 20%-30% of your total income for savings and investment!

Last and the most important thing is, do not overspend on your credit card and accumulate your debt! Credit card debt is one of the most expensive debt in the world. Accumulating credit card debt means you can never get out of the rat race.

Bad Habits - No Action, Give up
Not Taking Action, Give Up Easily

Bad Habit 4: Not Taking Action To Meet Your Goal

People always misunderstood ‘goal’ with ‘wishes’. We can have thousands of wishes but if you do not take action to realize it, it will always be wishes but not goal.

Setting up a goal means you have to take necessary actions to reach and meet the goal.

We are understand that success needs hard work and efforts. J.K. Rowling will never be an successful author if she did not take the pen and write down the story.

Take your first step today and trust me it means a lot for your future success.

Bad Habit 5: Give Up Easily

The great doesn’t success at their first trial. Thomas Edison has failed more than 10000 times before the first light bulb invented. How many of us can endure the agony of failing 10000 times without giving up?

Anyway, we do not need to be Thomas Edison and most probably we will not need to fail 10000 times before success. But we will still need to endure numerous failure before getting what we want.

Perhaps reading on the epic failure stories can give you some encouragement to insist on your effort. Click here for more stories.

Bad Habits - Living Big, Curse and Swear
Living Out of Your Means

Bad Habit 6: Curse and Swear

What’s more toxic than cursing and swearing? Always spitting bad words out of your mouth will not bring you any benefit.

If you believe in the law of attraction, you should eliminate the ‘bad words’ from your vocabulary as much as you can and add more positive words in your daily life.

Good luck will eventually come to you as positive habits lead to opportunities such as promotions, bonuses, new business and good health.

Other than that, never give up your background works and keep improving yourself.

Knowledge is the best weapon to be successful.

In case if you have any feedback or question, please do not hesitate to contact us here.

7 Ways To Earn Money Online (Cont)

In previous post, we have talked about 3 proven ways to earn money online. Let’s continue to explore more internet gold mine today.

4) Social Media Manager – The Fun Way To Earn Money Online

Social Media Manager, earn money online
Social Media Manager, earn money online

If you are camera shy or do not like to expose to the public. You may choose to be a social media manager instead.

It is a relatively new profession thanks to the rise of social media marketing. It is a trend and necessity for large corporations and SME to establish their social media account but having man power constraint to properly manage their accounts. So the social media managers come in place, they offer the service to open account, manage posts or even doing basic customer service on the social media page and the return could be very lucrative.

These services can be found/offered on freelance website (fiverr, upwork, freelancer etc…) and also some specific platform which offers professional social media management service. Isn’t it a fun way to earn money online?

5) E-Commerce – Easiest Way To Be Your Own Boss

E-Commerce Store, earn money online
E-Commerce Store

Everybody should have heard of Amazon before nowadays. Especially after the lockdown, the numbers of users shop from online platforms like Amazon, Shopify stores has been increasing exponentially. This online shopping meme is expanding the e-commerce potential and giving everybody chances to get involved.

There are many ways to establish your online business. The most popular way among the US citizen is by creating an Amazon store. It was very profitable in the beginning and created lots of millionaires until the market become kind of ‘saturated’ nowadays. Anyway, it doesn’t mean that Amazon is not profitable anymore. As long as you manage your supply chain well and apply good marketing strategy, you can still create fortune from this ‘traditional’ online industry.

Another popular method is by creating a shopify store. It has been increasingly popular recently and most of the entrepreneurs are establishing their dropshipping business with Shopify. Dropshipping means establishing an online store(eg. Amazon or Shopify) to market your products and get your suppliers to ship to the buyers DIRECTLY without the trouble of keeping the stocks at your warehouse! By skipping the stock storage process, a lot of works and cost could be saved and making the dropshipping method a popular way to start your own business and start earning money online.

6) Affiliate Marketing – The Best Way To Monetize Your Network

Monetize Your Network
Affiliate Marketing

Give me your link and I will refer customers to buy from you! This short sentence can simply describe the methodology of affiliate marketing. Anyway, to be successful in affiliate marketing field is not as simple as the description. It is almost the summary of online marketing business. Traffic, SEO, website, social media, email marketing, etc…. are all the necessary tools for an successful affiliate marketer. What is attractive about affiliate marketing is zero storage is required for the marketer. As long as you can drive traffic with your dedicated link to the product/services you are promoting, you will get sales commission from the product/service owners ranging from 5% to as high as 90% depending on the your niche.

7) Blog – The Oldest Yet Efficient Online Money Printing Machine

blog and website
Blog and Website

Writing your own blog might sounds ‘old fashion’ as it is already an ‘ancestor’ in the internet world. Well, being old doesn’t mean being useless. As long as ONLINE SEARCH still a main channel for information research, blogging is still a profitable and sustainable business to rely on. YES, it is a business instead of just hobby. Take a look at the blogger’s income report below on how profitable managing a blog is. As long as you can create good, original content and master the SEO, you can simply get your blog to ‘work’ for you, PASSIVELY! Your blog income could come from advertisement (google ads, or other ads provider), affiliate marketing, email marketing, and more.

That’s all 7 ways of online income sources that you can consider to explore in. These are all proven ways and has been popular side hustle for millions of people all around the world. Hope you can find your sweet spot and diversify your income source or even transform your day job to a successful online entrepreneur in future.

To read more articles on personal finance, lifestyle and travel. Please subscribe to our newsletter list to stay updated!

How To Earn Money Online?

7 proven ways to earn money online

 

We used to settle down with our fix day job income with little or no increment but the bills are just never stop growing. Many people has lost their job during the lockdown of COVID-19 outbreak and since then we have just realized the importance of having more than one stream of income. This is exactly the reason why you need to find out how to earn money online while you are staying at home!

The good news is, it is ABSOLUTELY possible!

Next, let’s go through the 7 proven ways to earn money online to diversify your income stream or even replace your day job income if you go through the right way.

1) Freelancing – Utilize Your Skill and Expertise To Earn Extra Income

freelancing
Freelance Marketplace

The basic freelance definition is one where a person works for themselves, rather than for a company. While freelancers do take on contract work for companies and organizations, they are ultimately self-employed.

It has been very popular ways nowadays to earn money online and been extremely easy side hustle for people who has got specific skill sets (eg. Programmers, video editor, photo editor, digital designer, etc…). Anyway, there was misconception that you can’t earn from these platforms if you are just ordinary people without skill and experience.

You are totally WRONG about it!

These platforms are currently so diversified that even ordinary people like you and me has opportunity to earn some extra income. Simple jobs like translation, type writing, voice-over (if you have sweet voice), or even helping social media influencers to post new update on their accounts!

Freelance Marketplace Introduction

Fiverr – One of the largest online freelance services marketplace. It was founded on year 2010 and growed exponentially since launched. It is now serving 1.3 millions of users according to Wikipedia. You can find/offer all sort of freelance services on fiverr as long as there are legal and willing buyer/seller exists. Interested readers can find the registration link here .

For those who wants to upgrade themselves in order to earn higher income, there are also Fiverr academy available with minimal charges. You can find more details from this link .

Upwork – Formerly Elance-oDesk, is a global freelancing platform where businesses or individuals connect to conduct business. In 2015, Elance-oDesk was rebranded as Upwork. According to the statistic, it is much larger than Fiverr with 14 million users in 180 countries and $1 billion in annual freelancer billings. One unique feature that Upwork offers is Upwork allows clients to interview, hire and work with freelancers and agencies via it’s platform. The real-time chat feature aimed to reduce client’s sourcing time for suitable freelancer while promote more interaction between the buyers and upwork freelancers. Top jobs on Upworks include IT and Web services, Design and Creative services, Writing and Translation, etc…

Freelance sellers can also track their actual time spent working on projects with verified screenshots via the time sheet application from Upwork platform. More details can be found here – Upwork login and registration

Freelancer.com – Freelancer was founded in Sydney, Australia in year 2019. It is currently the world largest freelancing marketplace in term of total number of users (27millions) and projects (13millions) posted. To post/find a job from freelancer.com, users need to take note that 10% fee will be charged by the platform and it can be reduced with paid monthly membership. The users network has now expanded to 247 countries and the top 3 most popular job categories are IT and software, 34%; design, media and architecture, 31%; and writing and content, 13%.

2) Day Trading – The Ultimate Financial Tool To Multiply Your Savings

Day Trading
Day Trading – Multiply Your Income

After you have mastered how to earn money online. Let’s move one step forward to enhance your skill to multiply your income.

I believe many readers already know the day trading definition or what is day trading without further explanation. In case if you don’t know, day trading is defined as the purchase and sale of a security within a single trading day.

Day trading could be rewarding and risky at the same time. There are tons of success/failure stories repeating everyday. This option may only be suitable for risk takers with little or no commitment. Anyway, long term investment is always recommended with proper strategy and knowledge.

Thanks to the technology advancement nowadays, we can always learn about the day trading know how from the internet (proper channel of course). Let’s elaborate a little bit more on the trading choices and the risk level.

Stocks/Option trading – Risk level (medium to high). Buying a stock means buying a company’s share and becoming one of their minor shareholder. Before buying the stock, we have to make sure that the company is doing well financially and with good business prospect by going through their financial report via Form 10-K .

Option trading is a totally different story. An option is a contract giving the buyer the right, but not the obligation, to buy (in the case of a call) or sell (in the case of a put) the underlying asset at a specific price on or before a certain date. Owning an option doesn’t own the stock of the company but the right to buy/sell the company stocks.

Options is a derivatives as they derive their value from an underlying asset (stock). While trading stock are depending the share price to rise for profit, option trading can be traded in both directions. It provides the power of leveraging as the option price is normally much lower than the share price itself comparatively but small movement on the underlying stock could trigger a larger movement on the option prices. Thus, it attracts risk takers with lower capital but wish to earn a higher return.

Crytocurrency – Cryptocurrency  is a digital asset stored in a digital ledger or computerized database using strong cryptography to secure transaction record entries, to control the creation of additional digital coin records, and to verify the transfer of coin ownership. It does not exists physically and is not issued by central authority (eg. Central bank). Type of crytocurrencies includes Bitcoin, Ethereum, Thether, XPR, etc…

It has been increasingly popular nowadays as a payment medium for online transactions. However, the value of the crytocurrency is relatively more volatile than the traditional currencies as it is influenced by the crypotocurrency market activities and the global economy as well.

There have been questions prompt that “is crytocurrency the future”? Well, the answer can be “yes” and “no” depend on the technology development to ensure security and also there is concerns from the countries central banks as it will bring great impact to the foreign exchange.

However, undeniably the cryto is already a huge existence in the market and the trading/investing activity is getting more and more active everyday.

Forex – Forex aka foreign exchange is the trading activity usually between two currency pairs (eg: USD/CAD, USD/JPY, CAD/JPY, etc…). It compares the strength and weakness of economy the respective countries thus traders can be profit from trading on the right direction of the currency movement. Like Options, Forex can be traded in both directions. Traders can analyse and choose to buy on the direction (up or down) of the currency they have confidence on and earn the profit if their analysis is correct.

Traders need to take note that the forex market is extremely volatile and the price movement is usually very rapid. There are traders choose to attend the basic knowledge courses in order to equip themselves before entering the market. There are also tonnes of signal groups in the market where the group will send the subscribers the trading signal so that they can trade on the direction which the professional traders have analyzed and trade on. Anyway, the outcome may varies depend on the quality of the courses and signal group and also how well one can learn and understand from the courses.

Below is the list of trading platforms for your consideration. Do spend time to take a look if you are interested in trading 🙂

Robinhood  – One of the favorite among US young traders. 1 free stock will be given to new subscriber upon sign up and deposit into their account.

Products: Stock, Options, ETF, Gold and Cryto

ExpertOption  – Various account types available to choose from and almost all the financial products available to trade.

Products: Crypto, Equities(stock), Forex, Commodities, Options

Etoro – Like ExpertOption, it has a huge range of products and commission free. There is certain charges on the withdrawal.

Products: Crypto, Equities(stock), Forex, Commodities, Options

XM  – Famous FOREX trading platfom. Mostly CFD are traded.

Products: Forex, CFD on indices, commodity, stocks, metals and energy.

3) Influencer/YouTuber – How To Earn Money Online? Turn Passion Into Your Profession

Social Media Influencer
Social Media Influencer/ YouTuber

We use social media like Twitter, Facebook, Instagram and watch video on YouTube almost everyday. For every click or every visit to the influencer’s post, it can also bring traffic and potential revenue to the page owners. For example, famous football star Cristiano Ronaldo who has 229 millions followers on Instagram, a whopping USD47.8mils bank in to his account just from Instagram alone! Many of it come from the endorsement and sponsored posts where advertisers pay him money to promote their products/services. This is indeed the ultimate way to earn money online!

Anyway, we are not Ronaldo and we don’t get the exposure as much as he does. But we can also start building our small account on the social media and as long as you can draw interests from the targeted audience. Who knows you may also have >100K of followers and start to monetized your page?

Another hot battle field is on YouTube, ever since we know the top earning youtubers can bring in millions of profit. Many people who is interested in video taking and editing has rushed to the page and thousands of channels have been created every month. The success of the individual youtubers depend on your niche,content quality and also the way you present the video. Other than that, certain SEO strategy is also required as the traffic competition is really getting tougher day by day.

Next there will be another four type of online income I want to talk about in the next article. Let’s stay tuned and continue to blow your mind!

See you in the next post!