What are your dreams?
Do you want to quit your job and live on passive income?
I know I sure do.
I also know that it seems like a crazy far-fetched dream that I will ever be able to make it there. I posted a while back about finding your number, the amount of monthly income that it will take for you to quit your job, and live life on your own terms. For me, that number is $5000 per month. That may seem like a huge number to some of you and probably a small number to a lot of you, but for me, that’s all I need.
But $5000 per month is still a lot of money!!
That number becomes even bigger, and even more unattainable, when I look at my paltry earnings so far online. I’m not ever gonna make it to $5000 per month making a few dollars a day through ad revenue.
On the flip side, I also just started this experiment less than a month ago. I actually have made money and have a positive cash flow (my expenses are $0 so far, so any cash flow will be positive!).
It really is all about perspective and putting your goals into perspective. If I continue to focus on the $5000 per month goal, I will get discouraged and frustrated along the way, and give up on my dream (I know myself too well, I know I cannot sustain this forever with an unattainable goal).
Have you ever heard of the Debt Snowball? Ever heard of Dave Ramsey? His now famous Debt Snowball plan works because it focuses on psychology not finances. Obviously, he is a financial guru, but he has learned that it is the psychology behind the finances that is the core of the problem. His program teaches you to set a small debt reduction goal, pay off one small amount, then apply that monthly payment to the next amount, pay that off, add the monthly payments together and apply it to the next biggest amount. Financially, this is not the smartest plan, but psychologically, it works! It just makes sense! You set yourself attainable goals, you get encouraged from your success, and you move on to the next goal!
I break my goal into bite sized pieces, I will be able to make it. Say I focus on the first $100 per month goal. This is a big milestone as it is the minimum payout for revenue sharing programs (Google Adsense). Once I reach $100 per month then bump up to $500, then $1000, I will progress on until I really have met my goal.
That may sound a little trivial, but for me I know it works. I imagine that it could work for you too! Breaking down your goals into bite sized pieces will give you the confidence that you need to surge on towards your goals.
Photo by: Dunilo Rizzuti