You know the funny thing about money? It will do whatever you tell it and direct it to do. If you have a plan in place, with a little effort on your behalf, your money will flow and go towards your plan. If you decide to let it do it’s own thing, good luck with tracking it down and knowing where it goes and how or if it grows. If you do want to put your money to work for you and not against you, here’s some money advice to take from Marshawn Lynch.
Marshawn Lynch, better known as, Beast Mode, has proven not only to be a beast on the football field with the Seattle Seahawks but a beast as far as his money and finances are concerned. He has made close to $50 million over 9 seasons in the NFL. In case $50 million weren’t enough, Forbes has reported that he also makes $5 million each year through his endorsements with Skittles, Nike, Pepsi, Progressive and Activision. What’s so great about his earnings? He’s now retired and has yet to touch one penny of the $49.7 that he earned over his career. Instead of spending any of his salary, he’s chosen to spend and live only on the money earned from his endorsements. I guess it pays to taste the rainbow!
Since I know why you’re here, let’s look at the 3 ways you too, can put your money in “Beast Mode”.
#1. Spend less Than You Earn
As your income increases, you may be tempted to “turn up”. Don’t! Be disciplined as your money increases and your money will be around a long time. When you get a raise, be aware that you’ve lived on less, so treat the increase as a bonus to be smart with it and not wasted. Treat yourself and enjoy the fruits of your labor of course, but don’t keep pruning the tree. Put the majority of your raise away and don’t touch it.
#2. Save Your Money
Don’t spend everything you make. Put whatever money you have left after you pay all of your bills in a safe place to grow and accumulate over time. Not sure where to put it? Start with a simple savings account and watch how your savings will begin to grow over time. It may take time and of course won’t happen overnight, but easy and safe growth is better than having no money to grow at all.
#3. Create A Second Stream Of Income
Maybe you’ve always been good at a hobby or creative and crafty. If you can find a way to turn what you love to do on the side into a second stream of income, how cool would that be? There are so many ways to start or sell your creations, start with what you know: Instagram, Facebook, or even Pintrest. Who knows, what starts out as a side business could become enough to replace your main income or even be enough for you to live on.
All in all, think and be smart with your money. You’ve worked hard for it, make sure it’s around a long time to thank you.