Recycle your experiences into money and pay off your debt. You as an adult deal with big numbers every month – $250 for the vet bill – $500 for the mortgage – $2300 for your child’s tuition. With figures like this floating through your head and the fact that you make a healthy salary, it’s unlikely that you would consider picking up pennies and nickels from the sidewalk. Similarly, you probably wouldn’t want to spend time creating videos for Youtube. After all, what’s so attractive about a couple cents a day in video ad revenue?
BUT HERE IS THE PARADOX THAT YOU MUST SEE. A teenager doesn’t have the job experience that you do so he is more likely to try earning pennies and nickels through videos. After 2 months of cranking out videos he can see the fruit of his labor by going into his control panel looking at his balance. So he becomes dedicated in making videos and after 6 months he is earning about $20/month in free money. This money will keep coming in for the next year, even if he stops making more videos.
You on the other hand lose your job and suddenly $20/month becomes essential to feed your family. And knowing that this is residual income could help you sleep better at night. But while you try to sleep, you keep asking yourself why you haven’t been slowly making videos for the last decade. Had you done this, life would be a lot easier now during a lean and challenging time. And sadly, the years that were squandered could have turned into a full time job as an entrepreneur. Instead, you were satisfied with the traditional role of making someone else rich.
Folks, in order to move toward financial security, you have to think like a child. Don’t buy that on margin. Don’t buy that first class ticket to Acapulco. Instead, try your hand at making Youtube videos for a week. You don’t have to sit in front of the camera and entertain people with stupid antics. You can make videos that educate others about anything you have experienced. Videos that provide value to your viewers are watched and the money naturally follows. Recycling your experiences into money is a slow but sure way to have financial stability so debt has no chance to grab a hold onto you.