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5 Tips to Help You Succeed In Making Money with Your Passion

5 Tips to Help You Succeed In Making Money with Your Passion

The biggest criticism that this generation of ours faces is that we are selfish. Many of us are running after money, and we are obsessed with technology. This criticism primarily comes from a generation of people who did any work that was available to them, instead of following their hearts and doing what they loved. This passion for doing what we want to do, to me, is a blessing for our generation.

Every one of us can find a job and start earning money. Any person can find a 9-5 job and follow the same routine all week every week; however, there are others who don’t want to be a part of the rat race. They want to pursue what they are passionate about. Nevertheless, following your passion isn’t that easy in this world, especially if you want to make money from it.

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The lines below discuss some tips that can help you in making money with your passion by giving taking the example of a person who has a knack for writing.

1. It won’t be overnight.

The first thing to remember pertaining to following your passion for making money is that it wont happen right away; rather, it will take time. For instance, writers who wish to make money by blogging or freelancing will have to make their name known in the highly competitive internet-based world. If a person plans on being a writer, they will have to utilize social media platforms; however, like the conventional market, the online market is also very competitive. Building an online presence in order to make money from writing requires some time. Once you have made your name on a particular platform, then writing jobs will follow and you will monetize your passion.

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2. You will have to sacrifice.

Like everything related to love, there are certain sacrifices a person has to make. Similarly, pertaining to making money with your passion, you will have to sacrifice a little at the start. In the case of the writer who applies for online jobs, initially, the writer will have to post a bid that is low compared to the others, so that the offer of the writer stands out in front of the employer. For a couple of months and few jobs, the writer would need to sacrifice on the rate of work, no matter how good the writing is, until the reputation of the writer rises to a higher level. Once the reputation rises, the writer will reap the bounties for every sacrifice made and earn money with their passion.

3. Difficulties will be there.

We face difficulties in our daily lives, so it goes without saying that the thing which you love will definitely come with difficulties and challenges. You will face challenges in the form of people not appreciating your passion, judging you, not appreciating you and being biased about your passion. Many successful writers before us tell us that the writers who search for work online face lots of problems and difficulties in the form of people not paying them enough for the worth of work they do, not appreciating the creativity and being biased towards writers because of their demographics. Therefore, if you are following your passion as a writer for moneymaking, then you must be ready for all the difficulties and hardships that await you.

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4. Take a stand.

Let me be honest, keeping passion and money abreast is a hard thing to do. You will find people who, because of money, will leave their passion. On the other hand, there are people who take a stand and choose passion over money. Once they take the stand and give all they have got to their passion, the ultimate result is passion giving them back much more compared to what they had when they were conscious about the bottom line of their bank account. Therefore, when it comes to opting between the two, take a stand and vouch for your passion.

5. Give as much time as possible.

If you aren’t one who would take stand for your passion, then the least you can do is give it as much time as possible in your daily routine. For instance, if you as a writer think that your writing won’t give you enough money to quit your crappy job, then you should continue with the job and give time to your passion after work. Therefore, give as much time as possible and increase your knowledge about how you can increase the money-making potential of your passion, and then scale up.

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Now it’s your turn!

Do you have any other example for making money from your passion other than writing? What passion do you have and how have you monetized it? What kind of difficulties did you face and how did you cope up with them? I would love to hear your feedback in the comments section below.

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Last Updated on March 4, 2019

How to Use Credit Cards While Staying Out of Debt

How to Use Credit Cards While Staying Out of Debt

Many people will suggest that the best thing to do with your credit cards during these tough economic times is to cut them up with a pair of scissors. Indeed, if you are already in huge debt, you probably should stop using them and begin a payback strategy immediately. However, if you are not currently in trouble with your credit cards, there are wise ways to use them.

I happen to really love my credit cards so I will share with you my approach to how I use mine without getting into deep financial trouble.

Ever since about 1983 when I got my first Visa card, I continue to charge as many of my purchases as possible on credit. Everything from gas, groceries and monthly payments for services like my cable and home security monitoring are charged on credit. Despite my heavy usage, I have maintained the joy of never paying any interest fees at all on any of my credit cards.

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Here are some tips on how best to use your credit cards without falling into the trap of paying those nasty double-digit interest fees.

Do Not Treat Credit Cards as Your Funding Sources

Too many people treat their credit cards as funding sources for major purchases. Do not do this if you want to stay out of trouble. I use my credit cards as convenient financial instruments so I do not have to carry around much cash. In fact, I hate carrying cash, especially coins. When you buy things on credit, the purchases are clean and you will not get annoying coins back as change.

I do not rely on my Visa, MasterCard or American Express to fund any of my purchases, large or small. This brings me to my golden rule when it comes to whether I will pull out any of my credit cards either at a retail or online store.

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I never purchase anything with my credit cards if I do not have the actual cash on hand in my bank account.

If I really cannot pay for the item or service with cash that I already have at the bank, then I simply will not make the purchase. Remember, my credit cards are not used as funding sources. They are just convenient alternatives to actual cash in my pocket.

Make Sure to Always Pay Off Balances in Full Each Month

The next very important part of my overall strategy is to make absolutely sure that I pay the balances in full each and every month no matter how large they are. This should never be a problem if the cash has been budgeted for my purchases and secured in the bank. I have always paid my full balances each month ever since my very first credit card and this is why I never pay interest charges.

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Using Credit Cards with Rewards

Most of my credit cards are of the “no annual fees” type, including one MasterCard on a separate account I keep at home as a spare in case I lose my wallet or incur any fraudulent charges. However, I do use a main Visa card which does have an annual fee because all purchases on that card reward me with airline frequent flyer points. For me, the annual fee is worth it since I do travel and I get enough points to redeem many free flights.

You have to decide for yourself if you will charge enough purchases on credit each year without paying interest charges to warrant a credit card that rewards you with airline points (or other rewards). In my case, the answer is “yes” but that might not be the case for you.

I occasionally use a MasterCard or American Express card on small purchases just to keep those accounts active. Also, I have been to the odd retailer that accepted only a certain type of credit card, so I find that having one from each major company is quite handy. Aside from my main Visa card which earns the airline points, the rest of my cards are of the “no annual fees” variety.

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So this is how I use my credit cards without getting into any financial trouble with them. This strategy is recommended only if you are not in debt, of course. In fact, it is worth keeping in mind once you’re out of debt so that you can keep your credit cards active and treat them responsibly.

What are your credit card usage strategies? Let me know in the comments — I’d love to hear what methods you use.

Featured photo credit: Artem Bali via unsplash.com

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