If you look around at the hype on the internet about starting a business, all you read about is making an extra $5,000-10,000 in 30 days with very little effort. Now, I am not against that nor do I believe that there aren’t people doing that.
In this post, I would like to get you to think about the possibilities of what you could do in your life by just making an extra $500 a month. I think you will be shocked … and hopefully inspired.
Pay off Debt
It is no secret that debt destroys marriages and relationships. Having debt causes massive stress in the lives of individuals. Also, by having debt, you miss out on business and investment opportunities that could really change your life. The quicker that you get a plan to pay it off the better.
Listen, $500 extra per month thrown on your debt can make a big difference in your life. That is how I got started. And Lord willing, I will be debt free within a few years. I can tell you, those times when we didn't have enough to make ends meet were stressful for me.
Remodel Your House
Have the pictures in 'This Old House' created the desire to make a few changes around the old homestead? Are you simply tired of the way your house looks—both inside and out? Is your kitchen from the 1950’s, but you are still using it in the 2000’s? Or has your family outgrown your house, but you do not want to move?
If you earn an extra $500 a month that can be dedicated solely to your remodel project, you have the potential to get a great return on your investment when you go to sell your house or just provide a nicer atmosphere for your family to enjoy.
What would you remodel with your extra money?
Invest for Retirement
Wouldn’t it be nice to have the cash reserves readily available to take advantage of a good investment when it comes along?
If you had an extra $500 a month to invest in mutual funds, real estate, or the stock market, you could start building a portfolio that would allow you to make more investments, travel, or retire.
A simple investment of $500 per month could earn you interest for number of years. That would be your extra money working for you to help you create the life you only dream about now.
Take a look at many of the financial calculators online and start playing with some numbers. You will be amazed at how just a little investment of $500 can add up to thousands of dollars.
Have you figured out what your number is so you can retire?
Buy Your Dream Car
What type of vehicle would you buy if you had an extra $500 a month coming in each month?
Go on a Family Vacation
I know of one family that goes to Disney world each year. It costs about $5,000 and they do it every year. Imagine all the memories that they have created on those family vacations. That could be you if you have $500 a month extra you could put towards saving for that epic vacation.
Where would you go to create memories?
You can actually change your life by just making an extra $500 per month in extra income. It’s true!
Instead of getting a brand new car on a loan, what could an extra $500 do for you and your future? Do you have some student loans that you’d like to see disappear? Or, maybe you’d like to pay for your next car with cash? How long would it take you to accomplish this?
Once you succeed in paying off your loan or paying cash for your car, guess what? The $500 is still coming in each month! Pretty soon, the necessities will be paid off and you can start investing in your future!
If you'd like to get started on making an extra $500 a month, contact me.
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