How Not To Be Broke Financially Ever Again Legitimately

Being broke financially is a cankerworm that has ravaged the lives of young people. And for this reason, many of them go into social vices just to keep up with the trend.

However, jumping into fraudulent activities is not the right way to avoid being broke. In fact, being a fraudster will make you even more broke!

In this post, we are going to discuss legitimate ways you can make money and stay out of financial drought forever!

Contents

6 Ways To Avoid Being Broke Financially
Conclusively…

6 Ways To Avoid Being Broke Financially

#1 Know Your Why

Just desiring money to be around you is not enough reason to want it. When the purpose of a thing is not known, abuse is inevitable.

Before you get frustrated as to why money is avoiding you, have you found out if you really need it now? For what purpose?

You have got to know your ‘why’ first before working your way through to terminate financial scarcity in your life.

Moreso, if your reason for wanting money is for a riotous living, we guess you are not ready yet, and leaving your financially broke state is far from you.

#2 Understand How Money Works

Having an accurate knowledge of how money works is already a progress in the right direction.

Money is ephemeral (doesn’t stay long) in nature, so you need to treat it as such! That means you can have money now and in the next 5 minutes, it goes into something you never planned for.

To sell your products or services, all you need is a market. You cannot barter for individual items in that market.

Instead, you exchange your products or services for money, a common form of exchange.

You can then buy what you need from other people who accept the same payment method with that money.

That’s the true concept of how money works!

#3 Learn How To Make Money

This is the most vital part of avoiding being broke financially. If you don’t know how to make money, you will be broke financially.

There are many ways to make money, but we will limit the list to the fastest and easiest ways.

Learn a Skill(s)

You cannot make money if you have not mastered any skills. Skills are simply those sets of abilities you can deploy to solve problems, thereby getting remunerated in return.

We would further split skills into two categories; Digital Skills and Manual Skills.

Digital Skills: The term “digital skills” is used to describe the competencies needed for information management and communication in a digital world. It includes basic computer use and email skills as well as programming and network administration.

Example Of Digital Skills Are;

Digital Marketing
Web Development
Graphics Design
Search Engine Optimization
Video Editing
Software Development
Blogging
Copywriting
Content Writing
Virtual Assistance
App Development
Coding
JavaScript

These skills are top-notch that can keep you financially stable forever!

Manual Skills: These skills are associated with handicrafts. The ability to carry out certain physical administrations with your hands.

Ability to effectively perform a particular task or operation with one’s hands. A person with a lot of dexterity is said to have a high level of manual skill. A juggler, for instance, has a lot of manual skills.

Examples Of Manual Skills Are;

Painting
Hairdressing/barbering
Drawing
Sewing
Knitting
Car maintenance and repair
Sculpting/ceramic making
Woodcarving
Furniture making
Generator maintenance and repair
Playing musical instruments
Soap making
Welding
Carpentry skill
Beautician
Electricals
Electronic repairs
Phone repair/configuration

Since we have established these two categories of skill, we also have Soft Skills.

Skills that are applicable to all occupations are referred to as “soft skills,” “power skills,” “common skills,” or “core skills.” Critical thinking, problem solving, public speaking, professional writing, teamwork, digital literacy, leadership, a professional attitude, a work ethic, career management, and intercultural fluency are all examples of these skills. Hard skills, on the other hand, are specific to specific occupations – Wikipedia.

Take Advantage Of Investment Opportunities

There are legit investment opportunities online you can leverage and make some decent money.

You should also note that not all of them are genuine; some could last for a few months and disappear with people’s investments. These platforms are known as Ponzi schemes!

SEE POST>> How To Start a Business From Scratch Online With $0 | 100% Free

However, for the first time, we actually have a system that you can comfortably invest without doubts and have peace of mind, and it’s called Afriq Arbitrage System (AAS).

Get Started With Amazon Kindle Direct Publishing

We are still discussing ways you can make money to stay off being financially broke. And one of them is Amazon Kindle Direct Publishing (KDP).

This system has been established for people like you to become self-publisher. With Amazon KDP, you can publish a 15 – 25 pages word document and get paid.

You don’t have to be an author before you can earn royalties on Amazon KDP. We have a course that can help you create books using AI without writing.

ACCESS AMAZON KDP COURSE HERE

You will also discover the strategies to optimize your books for higher rankings and more sales.

#4 Learn Savings

Saving money is a powerful guard against the days of money droughts. You won’t always have money come in large amounts as you would desire.

Being armed with this knowledge will keep you safe on rainy days. Many people go utterly bankrupt financially because they didn’t have savings anywhere.

Learn to set aside a percentage of your income, at least 30% into a bank account designated for that purpose. We have published a guide to help you save money successfully, read it here.

For the sake of discipline, ensure you don’t have a debit/credit card and checkbook (cheque) connected to that account.

Furthermore, endeavor to delete every credit alerts you receive via text message on your phone in order not to know the accumulated figure or amount and be tempted to tamper with your savings.

What Savings Will Do For You;

It will serve as immunity against financial bankruptcy
You can leverage on big opportunities like Black Fridays
It can help in times of emergency
It will enable you to save with vision in mind

#5 Learn How To Multiply Your Income

One strategic way to multiply your income is Investment/multiple streams of income. This is actually a biblical principle that works for anyone.

Remember? Casting your bread upon waters? Ecclesiastes 11:1-2.

Whatever income you earn, try as much as possible to diversify to other lucrative businesses both online and offline.

Make it a goal to grow wealth. That’s how the many billionaires you admire around the world do!

#6 Get Involved In Recurring Income Systems

Making money once in a while will not save you from financial lack. Learn how to generate income frequently, if possible daily.

Recurring income, also known as passive income or residual income, is earned by creating or acquiring an asset that continues to generate profits despite the fact that work on the asset is still ongoing.

There are hundreds of recurring income ideas, but we will just list 30 as a sneak peeks of what we mean.

30 Recurring Income Ideas

Develop spreadsheets and sell
Vending machine investment
Create and sell audiobooks
Create systems and earn royalties
Create a guide to solve problems digitally
Develop applications
Design a job board
Create and sell Non-Fungible Tokens (NFTs)
Lease out empty spaces
Invest in profitable businesses
Sell your designs online
Cryptocurrency trading/staking
Invest in REITs
Flip websites
YouTube channel
Start money lending
Shop and earn online
Put your car on lease/use the GPS system to pick up corporate individuals and get paid
Rent out a room you are not occupying
Invest in real estate
Invest in stocks and bonds
Sell your original photos online
Become a social media influencer
Become an affiliate marketer
Start blogging
Sell handcrafted products
Teach people Digital Skills online
Start Amazon KDP Business
Start dropshipping
Create digital products and sell them (like ebooks and video courses)

Conclusively…

These are practical steps to stay immune from being broke financially. This article is to get you imparted with financial intelligence.

These systems are designed to help you stay up no matter the level of economic meltdown. And it’s your responsibility to make it happen.

We hope you learned a few things from this post. Kindly share!

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How Not To Be Broke Financially Ever Again Legitimately