Make Money

  • Life Lessons,  Make Money

    9 Ways to Increase Your Income

    How to Increase Your Income

    There is only so much you can cut back on in your budget. At some point, you need to look at ways to increase your income.

    Most of us don’t have a lot of time though and really, it’s about working smarter, not harder right? No one wants to spend all their free time working a second or third job and not living life.

    So how can you increase your income without it draining all your time?

    Disclosure we do use affiliate links for products and services we use and recommend.

    1. Ask for a Raise

    Depending on the job you do, how long you have been there, the results you get and the financial state of the business you work for, you might be in a position to ask for a raise.

    Do your research, learn about negotiations so you know how to approach it. There are ways to do this successfully and ways to really mess it up. Never Split The Difference is an excellent book to learn about negotiating.

    Be confident, know your facts and use the right tactics. If you don’t get a raise, see if you can negotiate something beneficial to you such as more time off, increased benefits or similar and make sure you get it in writing.

    However, if you can’t get anywhere with it at all, it might be time to change companies.

    2. Switch Companies/Businesses

    Too often companies offer better rates to new employees rather than rewarding current ones. Check the going rate for your job, including all the extra you do now compared to when you were hired.

    Chances are, you could get paid more elsewhere. Years ago you were expected to stay with one company for life. Now, career hopping is expected although changing jobs every 6 months still doesn’t look great.

    Compare your options, speak with recruitment agencies, update your LinkedIn profile and see what comes up. Do not quit until you have something else lined up and be sure you resign according to your contract.

    Meaning, some have a non compete clause, some require 2 weeks notice, other places require 4. Go over your contract and know what you are required to do and your entitlements when you leave such as getting paid your vacation leave.

    3. Change Careers

    Some careers simply do not pay much and you might need to look into careers that pay more. Think about your skills and interests to see how you might be able to apply them in another career for a higher wage.

    For example, Mr Aspiring Millionaire was previously a dive guide and tec diver doing exploration trips in the South Pacific. In Australia, he was able to retrain and move into commercial diving which pays much higher and has huge potential depending on how far he wants to take it.

    As a writer, I have the option of writing ebooks to create passive income, do website and marketing copy, write books for other companies, articles for magazines etc. Setting up multiple sites has also increased my income.

    Research careers you are interested in, what the pay is and what you need to do to transition. There are so many options out there now but also take into consideration careers that could become obsolete compared to those that will increase in demand.

    4. Maximise Benefits

    If changing jobs or careers isn’t an option right now, see if you can maximise your benefits. Read your work contract thoroughly and check all the benefits your employer offers, as well as everything you can claim on tax.

    Some employers offer benefits such as health insurance, gym memberships, childcare assistance, meals, bonuses etc. Knowing what is on offer at yours means you can utilise it to save money.

    Every career also has things you can claim on tax so make sure you know what you can claim and keep the evidence necessary for it. Check the tax department website as they have a lot of information about it.

    5. Invest

    Learn how to invest and start early. Investing is a long term game so it’s not about replacing your income or increasing it immediately. Instead, you are looking to the future to ensure you have ongoing income into retirement and beyond.

    How you invest is up to you. Many people enjoy investing in the sharemarket, especially indexed funds or ETFs. Read The Simple Path to Wealth and Quit Like a Millionaire for more on this.

    Be aware of your risk profile, what you are comfortable risking and don’t over-invest. Also, don’t invest anything you plan to need short term.

    For example, if you are saving for a house deposit, don’t put that money into the share market as it can be volatile in the short term.

    6. Get a Side Hustle

    How much time you dedicate to a side hustle and what you choose to do is up to you. Some side hustles require little effort, others can be quite time consuming.

    A few of our favourites have been writing, renting out a room, renting out the garage, reselling things, online work such as blogging, consulting and marketing.

    For others we know, running an Etsy store, influencer work, setting up a business, dropshipping and photography have been great.

    Research side hustles and look at what would work for your lifestyle. It might take a little experimenting until you find the right one for you but it can be worth it.

    Make sure you track everything so if it becomes a business, you can claim things on your tax properly.

    7. Own a Business

    With a business, you need an exit plan and a way for it to be outsourced. Too many businesses are set up and rely solely on the owner, but what happens if the owner gets sick, injured or unable to work for a period of time? They can lose everything.

    Look at owning a business but create a proper plan to ensure you are not working for your business, rather your business is working for you.

    8. A Second Job

    It’s not ideal but sometimes you have to do what you have to do. Our preference is anything else such as a side hustle or creating a business instead of a second job.

    But if you need the consistent income, a second job might work. There are many businesses that require shift work such as hospitality, delivery drivers, aged care, disability etc. Most of those jobs are quite physically demanding though so it can be draining.

    Doing a second job isn’t a long term solution so try to look for other options to increase your income when you can.

    9. Passive Income Ideas

    We shared 10 passive income ideas already, or ideas that are passive once set up. Our preference is to have multiple streams of income and not be the ones working on all of it.

    Things such as books once written and promoted with a solid marketing plan, websites once outsourced, investments, real estate if you have good management etc can all be good passive income options.

    Some such as real estate aren’t always that passive though. Do your research on which options are right for you and how you will manage if they aren’t passive at times or take a while to become passive.

    How are you increasing your income?

  • $2 to $1,000,000 Updates,  Make Money

    How Outsourcing can Increase your Income: Step 10 in Doubling my Money

    How and What to Outsource to Make More Money

    One of the biggest obstacles financially for me has been time. Not enough time, no childcare, and everything falling back on me to manage. With moving house, setting the teens up in new schools, having a toddler and baby etc. It’s a lot.

    A few years ago, I made great money, travelled and had a super flexible lifestyle. My teens and I loved it. Then the world changed drastically in 2020, we had some major hurdles with bushfires, a double family death in Vanuatu, getting locked down in the Solomon Islands and needing to set up a home there, hit by a cyclone, repatriated and needing to set up a home again and buy a car.

    That was just the first few months of 2020 for us. Then, then 2 back to back complicated pregnancies, a residency visa and studying for Mr Aspiring Millionaire in another state. As I said, everything fell back on me. This greatly impacts my earning capacity and motivation.

    Disclosure: This post may contain affiliate links.

    We Can’t Do It All On Our Own

    With so much going on, I neglected myself, my career/business, my life, and everything. We had agreed once we moved, the kids would go into childcare, and I’d be able to complete my studies and work.

    No childcare was available, no nannies, and no options for months. The waitlist for childcare is 18+ months!

    This greatly reduced my capacity to do anything and set me back mentally and emotionally as well. Doing it all on my own was slowly killing me. Plus, it meant I couldn’t do anything about my $2 to $1,000,000 challenge.

    Finally, I have made an arrangement and now get time to work, do self-care etc. It wasn’t easy to set up but is essential.

    Get Help

    As much as we like to think we can do it all, we can’t. I get called superwoman or supermum a lot. People are amazed at all I do and wonder how I do it.

    Yet often, I feel stressed out and like I’m failing because there is too much to do and I feel I am always behind. My goals, needs and wants don’t happen.

    Being so busy, having so much on, trying to do everything perfectly myself is no way to live. Something had to give so I made the decision to outsource more.

    How Much Can Outsourcing Make You?

    How often do we waste our time on things that would be better outsourced? If you can make $50hr doing something you are great at and outsource the little stuff for $25hr, aren’t you better off outsourcing those things so you can focus on income?

    The amount you make from outsourcing depends on what you outsource, how you do it and how much you or they make for you during that same time.

    Outsourcing has been a struggle for me over the years even though I know I could make more money if I did it more. The desire to be in control of everything as it impacts my reputation is strong. I know if I have a good team, I can make a lot more though.

    So both not being able to outsource childcare and being reluctant to outsource too much in business was costing me money.

    How to Know What to Outsource in Business

    When it comes to business, outsourcing should be easy but for many small business owners, it’s tricky. You have specific skills people are paying for and that is where you make your money. So your time should be spent on those tasks and admin outsourced, right?

    How many business owners do you know who waste a lot of their time and energy on the small stuff? I’ve been guilty of this many times.

    Write a list of all the tasks involved in your business. Next, you’ll divide the list into tasks that absolutely have to be done by you vs tasks you can outsource.

    Then, place them in order of tasks that make you the most money to tasks that make you the least. How much time do you waste on those things that need to be done but don’t need to be done by you? When you could put that time into money-making pursuits only you can do?

    Looking at this list can make it easier to know what to outsource first. The more you outsource the more time you can dedicate to those things only you can do and that earn you the most money.

    Some tasks you might consider first are bookkeeping, emails, social media, marketing, all the administration tasks, bookings etc. Sometimes when business owners do this, they find the professionals streamline a lot of these processes for them saving even more time and money.

    Take the plunge and outsource.

    How to Know What to Outsource in your Personal Life

    Outsourcing your personal life might sound weird but it is amazing how common it is and how much time it can free up. You already outsource somewhat.

    Think about it, you outsource car repairs and maintenance to the mechanic and most families have to outsource some childcare.

    Cleaning, gardening, ironing and even booking appointments are common things people outsource. There are personal concierges that will take care of picking up dry cleaning, arranging gifts, booking flights etc.

    Decide what you want to outsource and make it happen.

    If you want to grow your business or career, consider time vs money when it comes to outsourcing parts of your personal life. It might be quicker, cheaper and easier to have someone clean the house, do the ironing, mow the lawn etc.

    How is Outsourcing Quicker, Cheaper and Easier?

    Once you have the right people in place to do the tasks you’ve chosen to outsource, it flows easily. You don’t have to think about those tasks anymore. Those parts of your business or personal life get sorted without your effort.

    It is often quicker because professionals usually do things faster and better than we do. That’s why they are the professionals getting paid for it. Outsourcing them is often cheaper because if you can do something that earns $50 to $100 an hour (as an example) at the same time you’re paying someone $25 to $45hr to do those tasks, you’re in front. You can earn more in that time than it costs to pay someone to do those tasks.

    How to Know What to Outsource First

    I outlined one way to decide how to outsource for business above. Write down all the tasks you have to do, split them into groups of things you have to do vs what someone else could do. Then order them from highest earning to lowest earning then choose things to outsource.

    When it comes to personal or business, I tend to outsource based on what I hate doing or what I need help with first. Previously, this has been gardening first. I hated mowing the lawns, weeding etc. So it was worth it to me to pay someone to do that.

    Childcare is one I have had to do at times but I do try to be there as much as possible for my kids instead of having them in full-time care.

    Work out what can be outsourced and what would free up the most time or provide the most value to you if you outsourced it. Not everyone will start with the same things, it is up to you what you outsource, how and when.

    What I Outsourced to Increase my Money

    Having 2 babies close together (January 2021 and February 2022) meant I did not have the headspace to outsource. During that time we were also focused on getting Mr Aspiring Millionaire his residency visa and commercial diving qualifications so he could work. Then the focus was on moving house and healing from the pregnancies.

    Once settled in the new house I did a full evaluation of where my time was getting wasted, costing me money. I also reviewed what was costing me mentally and physically. Too much has been left to me to do by the whole family and I was exhausted in every sense of the word which impacted my capacity to earn an income.

    1. Insourcing

    My first step was to sort out the chores and things in our home. I want my kids to have all the life skills I have and more. As such, they’re involved in cooking, cleaning, repairs etc. Once this was more organised (read What is Insourcing and Why You Need to do it to understand it).

    2. Childcare

    Next, I had to outsource childcare a little but that was difficult. Waitlists for childcare centres are 18 months, there are virtually no nannies and even getting a babysitter has proven difficult. I finally got 2 days of care starting February 2023 for my then 2 year old but I still have my almost 1 year old at home.

    As such, I had to get creative about childcare. A mix of nannies, seeking out an au pair or even getting a cousin to come over were all considered.

    Paying someone I trust to look after my kids so I can work has been huge. It was hard for me to deal with it at first but it needed to be done. Without it, I was never going to progress in my career or achieve the goals we wanted as a family.

    Plus, while I do spend most of my time with my kids and they are my priority, I needed the break mentally.

    Originally, Mr Aspiring Millionaire was going to be with the kids in the afternoon so I could work. Commercial diving varies a lot though and even though his finish time is 3pm, he rarely finishes then. It’s not like an office job where you can up and leave, it’s underwater welding, construction, repairs etc.

    Weekend work is common too, making time for me to work difficult. I have no guaranteed time I can work without finding alternative childcare.

    So I worked out a plan with some help at specific times that should free up about 20 hours a week for me. I’ll try it until the end of April and see if it can continue.

    This is where I spent the money from my $2 to $1,000,000 challenge. I needed to spend money on childcare to free up my time. I anticipate I’ll double my $3,849 within 1 month with the time I have to focus and do things such as reselling.

    3. Admin Tasks

    The next step was outsourcing more of my websites. They’ve been my ‘babies’ and I was reluctant to let go as my identity was so entwined. As a result, they have barely been touched the past 2 years while I was off having kids.

    Setting up a larger team to do various tasks them has saved me significant time to earn more.

    Reviewing my business and seeing where I make the most money and how I can increase that was crucial for this. Once I saw where the bulk of my income is coming from and the things that can only be done by me, I set to outsourcing everything else.

    This step alone is set to double my income within a month and freed up so much headspace for me. In fact, I can work less and earn more overall.

    4. Some Meals

    My kids are more than happy to cook 2 nights a week each and are keen to learn more recipes from me, which we are working on. It was a bit of a juggle, me writing out and teaching recipes to my kids so they could do more, but it was worth it.

    They also loved learning from and following HelloFresh recipes. We used HelloFresh a lot when I was pregnant. It was great as they could select the recipes they wanted to cook and hardly needed any instruction or help from me. If you want to try HelloFresh, get a free box here.

    Why Didn’t I Outsource Cleaning, Gardening etc.

    I want my kids to be good at all these chores so right now, cleaning, gardening and similar tasks are not outsourced in our home. Eventually, they will be or they might be occasionally but overall, I want my kids to still do some chores.

    All the kids I grew up with who didn’t have to do any chores were fairly entitled and struggled in adulthood. My aim is to raise confident, intelligent, capable and compassionate adults. To do that, I have to teach them now.

    How Did This Increase My Money?

    Spending thousands on outsourcing feels weird at first but it was worth it. Outsourcing made me money by enabling me to spend time on the tasks that make me more. Plus, outsourcing to the right people means they increased the business income due to their expertise.

    I was able to earn 2 to 3 times what I was paying someone else. Meaning, for every hour of any service I paid for, I was able to earn 3 times what I paid them.

    For the things I outsourced in my business, they made double what it cost them to do what they were paid to do. Plus some of my time was freed up not having to do those tasks.

    You can’t do everything and trying to do it all costs you time, money and your health. Do a review of your life and business to see what you can outsource to make time for what matters to you.

    What Have you or Would you Outsource?

    Follow us on Instagram and Facebook

  • Make Money

    How to Create Multiple Income Streams and Why You Need Them

    How to Create Multiple Income Streams and 8 Income Stream Ideas

    Life is no longer as easy as going to university, getting a job then retiring. Chances are, if you do go to university, you’ll leave with significant debt and it can be hard to get a job. That doesn’t mean you shouldn’t do it, it simply means make sure you have other options too.

    It’s becoming increasingly common for people to do university, trade or other career and have a business or side hustles at the same time. The cost of living has risen so much, that most people feel they have no choice but to have multiple streams of income.

    In our view, having multiple streams of income helps buffer you against adversity. If one income drops or you lose your job or anything along those lines, the other incomes help pull you through. Plus, why not make extra money with little to no effort if you can?

    Disclosure, this post may contain affiliate links for products and services we use.

    How to Create Multiple Streams of Income

    We jump on any opportunity that can make us extra money without taking time away from our family or using a lot of time. With a clear view of the life we want, it’s been easy to see what works for us and say yes to the right opportunities, as well as no to the ones that don’t match our lifestyle.

    Decide what you want to do, be open to ideas and experiment. That’s how simple it can be. Always do your research though and know what you are getting into.

    As an example, Mr Aspiring Millionaire wanted to be a commercial diver from the moment he started diving years ago. For many, commercial diving is not a career they would choose due to the hours and risk.

    Currently, he has done his third certification and has to work in the industry for a while before he can move to saturation diving. Saturation diving is the offshore oil rig style work. 4 weeks on and 4 weeks off.

    For us, that is great as the pay is high and when he has 4 weeks off, we can travel anywhere as a family.

    I, (Ms Aspiring Millionaire) have multiple streams of income which are predominantly online. As such, we have great incomes, the flexibility we want and one parent available for the kids at all times. With 5 kids, that’s important to us.

    Why Have Multiple Income Streams

    Relying on one income means if you lose that income e.g. get fired, you have no other money coming it. Multiple streams of income protect you against this plus they help you save and invest faster. If you are aiming for FIRE (Financial Independence Retire Early) like we are, multiple streams of income enable you to get there faster.

    Wealthy people all have more than one income stream but they aren’t working for all of them. Owning businesses, investing, creating passive income streams is the aim. You can check out 10 passive income ideas here.

    Income Stream Ideas

    Here are some income streams you might want to include. Adding an income stream doesn’t always mean more time and effort put into something. Some of them can be pretty simple.

    Careers/Occupations

    The first obvious income stream for most is your chosen career, occupation or any form of employment. When it comes to a career, those pursuing FIRE (financial independence, retire early) typically look for high-income options.

    As mentioned, Mr Aspiring Millionaire is a commercial diver. This is what he chose when we came to Australia and within a few years, he will earn thousands a day. The 3 courses to get to his current level were $25,000 plus accommodation and other expenses.

    Our outlay was $30,000 all up and a few months study. After some experience in the field, he can then do the final level at the same cost of $30,000 for course and accommodation etc. That is when he will do offshore work at a few thousand a day, month on month off.

    For myself, Ms Aspiring Millionaire, I have stuck to more flexible career options including blogging, writing, marketing, CEO of a marketing company, speaking etc. All of it has been done at the same time and around my kids.

    Business

    Even though many small businesses are done as side hustles, there are numerous entrepreneurs and business owners who focus solely on their business. My income has been from my own businesses instead of employment almost my entire working life.

    If you choose to go the business path, ensure you are committed and set it up correctly. Get a lawyer and accountant so it is established legally. Read Profit First to learn a great way to set up your accounting.

    Make sure you have insurance, know what you can and cannot claim on tax, your legal obligations and marketing.

    Owning a business is not an easy taks but as you grow and outsource, it can be a great income. Once you can afford it, if the business is fully outsourced and managed by others, you will have an income stream rather than a job.

    Our Businesses

    With all our businesses and endeavours, the aim is for them to be fully outsourced and we simply collect money. Currently, we have a few small businesses we are growing. We saw some opportunities and took them.

    One of our recent businesses has been quite different for us as it relies so heavily on others from the beginning. Usually, our businesses have been developed by us then outsourced. This one, we couldn’t do without others.

    We have more businesses we want in the future and are currently restructing some of them to free up more of our time and money to invest elsewhere.

    Side Hustles

    Aside from a career and a business, there are numerous things you can do to make money on the side. Part of my challenge to double $2 until it is over $1,000,000 shows what I have done or am doing. Below are a selection of my favourite side hustles that are easy.

    You don’t need thousands to set it up and you don’t need to spend a lot of time doing them.

    Blogging

    There is more to blogging than most assume but it is a business that can be done from anywhere and outsourced quickly if you know what you are doing. I’ve bought and sold websites over the years as well as created then sold my own and still have a portfolio of sites I make money from.

    Read how to make money building and selling websites for more on this.

    Airbnb

    Paula Pant is one of many who use Airbnb with their rentals and make good money. We’ve used Airbnb both as guests and hosts. Being a guest gave us great ideas to improve ourselves as hosts.

    How much you can make from Airbnb depends on the location, condition, what you include and local events. Check out this guide on how to make money with Airbnb.

    Reselling

    My $2 to $1,000,000 started with buying things to resell. It’s been easy to find items under $5 I can resell for $10, $20 or even $100. When I focus on reselling, I can make over $10,000 in a month.

    How to Make Over $10,000 a Month Buying Things to Resell covers what to buy and resell, where to get it, how to photography and list it, postage and other tips. Only $9.95AUD.

    Investing

    More of a long term income plan than a current income option, investing is essential in our view. It requires minimal effort unless you want to research it all. Most choose to invest in indexed funds or similar which is pretty much set and forget instead of investing in individual companies.

    It is lower risk and proivided you don’t freak out when the market ebbs and flows and you are doing it long term, statistically you’ll make money. Get professional advice and learn about your own risk tolerance as well as the risks involved with various investments.

    We have a selection of investments for income in the future and to continue after we pass as well as side hustles for income now.

    Books

    Once written, if you outsource marketing, books can be a great side hustle. Authors don’t typically generate huge income from the book sales themselves, they do provide some income though.

    I get royalties from a book I wrote 10 years ago, as well as income every month from eBooks I’ve written. Audiobooks are another great option. Essentially, you write one book, provide it in a variety of formats and you have 3 income streams from one piece of work.

    How to create eBooks shares my experience and tips.

    Other Side Hustles

    There are so many side hustles available. I wanted to focus on ones that don’t require much effort. However, if you want to check out more side hustles, even if they require your time and effort, there are some great ones in the eBook 99 Side Hustles for Aussies plus most can be done by anyone, not just Aussies. Only $9.95.

    What are you doing to have multiple income streams?

  • $2 to $1,000,000 Updates,  Make Money

    How to Make Money Building and Selling Websites

    6 Steps to Build Then Sell a Website to Make Money

    Blogging and websites have been my main income for years. It’s something I’ve enjoyed but not pursued as much as I could have due to other commitments. This is a basic overview but I have links in the article for more information.

    As part of my $2 to Millionaire challenge, my most recent double was building then selling a website. For my challenge, I started with $2, doubled that and will continue doubling until I have over $1,000,000. This was my seventh time doubling my money. You can read all the others here.

    For this one, I had $480 to use and managed to sell the site for $1,500 rather quickly. If I kept it longer and made more money with it, it would have sold for more.

    Disclosure – This site contains affiliate links for products and services I use.

    1. How to Set up a Website

    Back when I started blogging, I had to learn to code. Now you can drag and drop it all with loads of free tutorials making it super easy.

    In fact, I can set up a website within a few hours with all the graphics, social channels, some articles etc. The thing that takes longer is the content and marketing. Both of which I have extensive experience but you can also outsource.

    2. The Basics of Website Creation

    In a nutshell, you need to decide on a niche, pick a relevant and available domain name, check the socials are available for it then get set up. Buy your domain name. Get your hosting package and my preference is to install WordPress then build the site that way.

    All of this probably sounds like a completely different language if you have never had anything to do with creating websites, blogging or social media.

    You can teach yourself all of it or hire someone. If you want to learn for yourself, I recommend doing a course and stepping through it. If you want a full tutorial on how to do it, I have written one here.

    3. Outsourcing

    Hire other people to do the work for you. Just because you can, doesn’t mean you should DIY it all either. If you have the money, it’s easier, quicker and you can do more of them if you outsource. Make sure you have a clear plan for what you want and vet the people you hire thoroughly.

    Get a virtual assistant, a writer or two, someone else to set up the site etc. These positions can be sourced relatively cheaply through Fiverr, Upwork and similar. Get them to do the grunt work and you can oversee everything instead.

    4. Market the Website

    A website needs to make money and to make money you need to get it out there. Marketing is something I did for years but for a website, it is easy to outsource it.

    Scheduling posts on social media, updating content on the website, ensuring everything has good SEO, these are all things that help grow your audience and your bottom line.

    With any business, including websites, you need a marketing strategy. It can be basic but you need one and need to be consistent to make it grow and have value.

    5. How to Make Money with Blogs/Websites

    This is the part I get asked abotu the most. Firstly, you need traffic to the website, an audience and things for them to buy.

    The most common way people make money from websites is through affiliate links. This is where something is mentioned and linked to. When someone clicks on it and buys it, the website owner gets a percentage of the profits.

    Ads from companies such as Google for Adsense or MediaVine if you have enough traffic make great money. They manage the ads shown on your site and it is the easiest process.

    Sponsored posts are less common. This is where a company pays to be linked to from your site either in a new article you write, they provide one or in an existing post. You need to disclose it and realise there are many ways this can harm your website long term with Google.

    Dropshipping is where you create a product customers can buy and it is created then shipped by a third party.

    Your own products such as courses, eBooks and other resources.

    For more ways to make money with websites, read this.

    6. Sell the Website

    With the website up, good traffic and income, it can be sold. Websites can be bought and sold on sites such as Flippa. Alternatively, there are Facebook groups for selling websites and email lists.

    As I have been doing it for a while, I have access to and have utilised all 3.

    Why Make Money Selling Websites

    Creating and selling websites is something most people can learn and can be done from anywhere. If the last 2 years are anything to go by, having multiple streams of income and being able to make money remotely is important!

    My preference has been owning them for a while, generating income and then selling off some. I can outsource all of it now, focus on the ones that are doing well and then sell the ones that aren’t performing as much as I’d like.

    My plan moving forward is to continue with this but the websites will be held for 6 to 12 months each time to see which are performing the best. Previously, I owned 10 websites at once and that generated great income.

    Due to changes in my life, I had to sell them to pay for something extremely important to my life.

    Now, I am in a position to get back to it and am excited.

  • Make Money

    10 Passive Income Ideas

    How to Make Passive Income

    Millionaires typically have 7 income streams. Since no one can work 7 jobs, you need to look at other options. It’s about working smarter, not harder. Be smart with your time, find ways to generate income with little or no effort and you’ll find your net worth increases much easier.

    Passive income is income you generate with little or no effort. Often you need to spend some time and money upfront but once it’s ready, it can make money easily for you, even in your sleep!

    How I Make Passive Income

    Personally, I’ve been working on passive income for years and it is something we are now working on as a family. Our current passive income includes:

    Book royalties, blogs which don’t require me to work on them to make money, shares, business, eBooks, rental properties, stock photos and peer to peer lending.

    That said, while we technically get an income from these, most of them get reinvested. For example, dividends from shares/stocks get reinvested. Rental income is being saved to develop our property portfolio further.

    In the future, we will be focused mainly on business, real estate and shares.

    Image of money and a plant. Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography

    1. Digital Products

    Anyone can be an eBook author on Amazon or similar now. If you have your own site, you can sell your books on there too. I have eBooks listed in a variety of places so get royalties each month from Amazon, direct payments from my site and royalty payments from my publisher too.

    Digital products are great because you can make them once and sell them for years. Two of my eBooks are over a decade old.

    Two other digital products include printables which you can sell on your own site or sites such as Etsy and courses which is another option popular among bloggers and influencers.

    2. Book Royalties

    In 2010, a large business publisher saw an article I wrote and wanted to turn it into a book. We did this and there was an extra eBook created from one of the chapters. For years I collected royalties on the print book then I negotiated the rights back.

    However, I still collect royalty payments for the eBook AND since you get payments as an author in Australia for anyone borrowing the book from the library, I get paid for that too. I forget about it until I get the email every few months.

    It’s a nice surprise which I can invest immediately into shares or crypto.

    3. Rent

    Being a landlord is not always as passive as it is made out to be. Repairs, dealing with tenants or property managers, late rent or similar issues can chew a lot of your time.

    However, if you are fortunate enough to have one managed well by someone for you, all repairs etc taken care of and the money simply put in your account, it is a great passive option. This is where we are at.

    Our properties are overseas and taken care of by family there. The money is split, they get some and some is saved for us to develop the property. Since they live in Vanuatu, the income they have is pretty low and the rental income helps put family members through school, ensuring a brighter future for them.

    Airbnb is a popular option for many as well. Since people can self check-in, you have rules and can have a cleaner for between bookings, for many, it is pretty passive. I (Ms Aspiring Millionaire) have previously done quite well with Airbnb.

    Renting a room in your home can be fairly passive. Whenever we’ve done it, we were usually lucky enough to get people we know. Rent/board was set up to be paid automatically and since we come from big families, it didn’t bother us to have extra people in the home.

    As a single mother (previously), having a boarder reduced my workload as they also helped clean at times.

    Lastly, renting out the garage. Other than handing over the keys, this has always been a passive option. The garage has been used by people to store items, run a business or store a car. Each time, payments were automatic and I barely saw the person using it.

    4. Shares

    Invest in index funds, learn and invest in specific shares you want or look at micro-investing to get started. Before investing, take some time to learn. Too many people invest blindly then lose money.

    The sharemarket goes up and down but if you have a longterm view, reinvest and don’t plan to use the income (dividends) until retirement, your portfolio can continue to grow nicely.

    5. Advertising on Your Car or Fence

    With a newer car, you can be moving advertising for any business. They pay for a car wrap or magnet to be placed on your car. This works best in cities and if you drive a fair bit or your car is parked somewhere with a lot of traffic.

    If you live on a busy street, some businesses will pay you to have signage on your fence as well.

    Both of these don’t require effort after the initial set up. But be aware it can damage paint.

    Image of plant, phone with calculator app open, Australian $50 notes and a notebook with pen.Text reads 10 Passive Income Ideas. Photo by Justin Saula of Blackbeard Photography.

    6. Affiliate Marketing

    We do this through our websites and it forms a significant part of the website income. It’s easy enough o set up a website, market it well then outsource it to make money without your input.

    Affiliate marketing is where you get paid when someone buys something through your link. Many sites are set up as Amazon affiliate sites or similar. It’s a way to sell or promote items without having to have them in stock.

    Some of our best affiliates involve food and finance items.

    7. Ecommerce

    Build a website (The Thrifty Issue has a simple guide on it) and either sell your own products, do dropshipping or do affiliate marketing as mentioned above.

    Dropshipping is a hugely popular option as you can design and create products but not have to stock them. They are sold through your site and shipped directly to the customer without needing a warehouse.

    8. Silent Business Partner

    Partner in a business without being one to make all the decisions. You can either set up a business and be a financial partner or buy into a business. The businesses we own are split between us being active partners and one where we are silent partners.

    9. Stock Photos

    Sell your photos on sites such as iStock. Since we travel and take numerous photos for the marketing work we do through our travel, selling stock photos is a great side option. Once uploaded, we make commissions when they sell.

    We do not upload our best, only generic style ones we don’t care about.

    10. Peer to Peer Lending

    We’ve mainly done this as a charity option but if you have a decent amount of money, you can start doing peer to peer lending through various websites. We have just started with Plenti and will share our experience with that soon.

    How do you make passive income?

  • Make Money

    How Will You Spend Your First Million?

    What Would You Do With $1,000,000?

    How often have you thought about what you’d do if you had $1,000,000? Becoming a millionaire is a dream for many but it isn’t that unrealistic anymore. Aside from winning lotto, there are numerous ways to make a million or more. Once you have a million, what would you do with it?

    How to Earn, Save and Invest to have $1,000,000

    The most secure way to become a millionaire is to do it yourself through saving and investing. Waiting for an inheritance or lotto win means you could wait your whole life and never reach the financial freedom you want.

    Earning, saving and investing puts you in control of your money. Many people become millionaires within 30 years or in time for retirement through living frugally, saving and focusing on their retirement. This is not the way we want to do it in our family.

    Those who have their own business and investments can do it in under 10 years, some as little as 5 or 7. You can find out more in the book We Should All Be Millionaires.

    Successful businesses seem to be one of the quickest ways to become a millionaire. Investing wisely in indexed funds as per The Simple Path To Wealth is another simple way to do it. Or look at getting into a highly paid job, sacrifice a lot for a few years while investing wisely then retire as per Quit Like A Millionaire.

    What Would You Do With $1,000,000 You Saved or Invested?

    Once you have saved and invested to have $1,000,000, what would you do with it? If your plan is to use it in retirement, you will likely redraw on it over time until eventually you have nothing or you pass away.

    Others, use it to invest more. Once you have $1,000,000 it is much easier to increase your investments quickly. Having a few million invested means you can get an income from the dividends and live quite comfortable without decreasing the value of your investment.

    Meaning, you can live off a wage paid by your investments and still have over $1,000,000 stashed in investments. Doing this ensures your future and finances are safe.

    What Would You Do If You Got $1,000,000?

    This is very different to investing and earning $1,000,000 over a long period of time. Most people who suddenly get $1,000,000 e.g. through lotto or an inheritance, blow it. Having a plan for what you would do with a sudden injection of cash is important to ensure you make the most of it.

    If we suddenly got $1,000,000, what would you do with it? We often play a game where we list out what we would do if we won $1,000,000 or $10,000,000 etc.

    Be clear on how you want to spend the money. Below is an example from one of my clients. The crypto is because they are interested and if they suddenly got $1,000,000 they feel part of it would be fun money.

    $27,000 to debt
    $223,000 to develop the property
    $500,000 to indexed funds
    $250,000 to crypto

    Total: $1,000,000

    Of course, that doesn’t take into account taxes or other expenses. But when you are playing it as a game or pretending you don’t need to include taxes or you can say it is $1,000,000 after tax.

    Manage Your Money Now

    As is having a budget. If you aren’t in control of your money already and overspend, what makes you think you would manage $1,000,000 any better than that? Get

    What Will We Do Once We Have $1,000,000?

    This site is about our journey to $1,000,000 net worth. Our aim is actually much higher. $1,000,000 is the first goal. As mentioned, it would be used to develop our land, clear debt and invest. It is when we get to the higher amounts that what we really want becomes clearer.

    We have a dream home in Vanuatu we want to buy which is a few million dollars. It’s where we want to get married and have forever. There is land here where we live in Australia we’d love to buy and develop to own a few specific businesses on.

    Our desire is for multiple businesses, over $4,000,000 invested in shares/indexed funds/crypto and freedom to travel. Which means, once we hit $1,000,000 we will keep going.

    What Would You Do With $1,000,000 And How Will You Get It?

    Extra Tips to Make and Save Money!

    Straight to your inbox, all the ways you can make and save money!

    Please wait...

    Thank you for signing up!

  • Make Money

    4 Ways to Make $1,000,000

    How can you make $1,000,000?

    There are multiple ways to make $1,000,000. A million dollars used to be the dream amount for many but now it is much easier to achieve. And for some, won’t be enough to live on in retirement. Personally, we are aiming higher but our first goal is $1,000,000. So how can you make $1,000,000?

    1. Save, Save, Save Until You Retire

    The average wage in many Western countries is around $50,000. This means, in 20 years, $1,000,000 passes through your hands. If you are part of a couple, you could save one wage and live off the other. Or go further and look at how you can save one wage PLUS a percentage of the other wage.

    Saving as much as possible, putting it into a savings account and letting it grow with the minimal interest in there is one of the longest ways to get $1,000,000. For those who don’t like risk and prefer to set and forget with their finances, this is a great option.

    Save one of your wages, max out retirement funds and any bonuses from your employment to increase your net worth and eventually, you’ll become a millionaire. If you are a couple, you might want to have $2,000,000 so technically you are both millionaires. It could take decades to do it though and you’ll spend your whole working life scrimping and saving.

    2. Invest in Shares/the Stock Market/Indexed Funds

    How you choose to invest in the stock market is up to you. Indeed funds have performed the best over time and outperformed hedgefund managers and others guessing at stocks. They are easy to invest in and essentially a set and forget option with a higher payout than just saving.

    Invest then as you get dividends, invest more. Learn about the stock market and your risk tolerance level. Some people cannot handle the ups and downs. If you can’t, do not invest in individual shares. Instead, go with indexed funds. Read and learn more about it in The Simple Path to Wealth.

    3. Business

    Either start your own or buy one and increase it. Numerous millionaires all over the world made their millions through business. It doesn’t need to be a huge business. See a need, find a way to fill it, expand and you’ll get there. People have made millions through blogging, drop shipping, yard work and all sorts of businesses.

    You don’t need to change the world with your business. Find something you are interested that people want or need and do it.

    Marketing, business management and the general running can all be learnt or outsourced. However, make sure you are on top of finances. Have the finances separate to your normal living expenses. Too many business owners starting out don’t separate their finances and it ends up messy. Plus it is hard to expand if you can’t prove business income.

    4. Inheritance

    Quite a few people I know will inherit over $1,000,000. This isn’t a method to rely on though because who knows when you will actually see it or if you will at all. Plus, inheritances can bring out the worst in people with fights for years to get what people thing they are entitled to.

    It is a way to become a millionaire but not one to depend on. However, if you do expect an inheritance, work out what you would do with it before it comes. This way you are prepared and can make it work for you.

    How Are We Making $1,000,000?

    We are doing it a couple of ways, firstly investing, secondly with a quirky challenge. Our challenge was starting with $2 and doubling our money. Doing this 20 times equals over $1,000,000.

    How will you become a millionaire? What ways do you know of others becoming millionaires?

  • Make Money,  Reselling

    Our First Flip for Doubling our Money

    How to Buy and Resell Items

    I shared how doubling your money, starting with $1 can get you to $1,000,000 if you double it 20 times. One of the first things I did when I started looking for ways to make and save money years ago was buy and resell items. I quickly learnt where to shop, what to buy, where to list and which items were most profitable.

    What We Bought

    When looking for items to buy and resell, I wanted to start small to fit in the doubling your money concept and also to show how it’s done. I was at the second hand store and saw a copy of The Barefoot Investor for $2. I figured that was an ideal start for doubling our money.

    Image by Justin Saula of Black Beard Photography

    Where We Listed

    I bought it, took a photo on my phone then uploaded it to Facebook Marketplace. I had already checked how much this book was selling for on there and knew it would sell quickly.

    How Much and How Quick

    There were other copies on there being sold for $10 so I listed mine for $8 and it sold within a few hours. We met that night at the local shopping centre where I was going to do my groceries and I made $6 on that book.

    Managing the Money

    With flipping items, as the aim is to double our money, I set up a separate bank account for it. 86 400 is an easy to use online only bank which will give you a $10 bonus for signing up with the code S7VL6WF here. Having a separate bank account also means I have no issues giving out the bank details or using Osko/PayID for payments to make them quick and easy.

    Currently, there is $8 in there and I will be out this week looking for items to flip using that $8.

    What’s Next?

    I’ll be continuing finding items to buy and resell. There are so many opportunities out there, waiting to be explored. As we progress and the amount we have increases, it won’t just be items in second hand stores we flip.

    Previously, I did well buying and reselling websites, I’ve done it with cars and eventually want to do it with some real estate too.

    So the next few flips will be smaller items but soon we plan to be doing bigger items.

  • Make Money

    How to go from $1 to Millionaire

    Double your Money 20 Times and you get from $1 to $1,048,576

    It sounds simple and in the beginning with the lower amounts, it is. You can buy things to resell easy enough but once you start getting into the thousands, what can you do? Property, cars, websites? You can read how to do it below and if you want to see exactly what we are doing I am writing down each flip of ours here.

    $1 to $1,048,576

    The first time I mentioned doubling the money to make $1,000,000 my kids were skeptical that it was only 20 moves. So I wrote it out:

    $1 x 2 = $2
    $2 x 2 = $4
    $4 x 2 = $8
    $8 x 2 = $16
    $16 x 2 = $32
    $32 x2 = $64
    $64 x 2 = $128
    $128 x 2 = $256
    $256 x 2 = $512
    $512 x 2 = $1,024
    $1,024 x 2 = $2,048
    $2,048 x 2 = $4,096
    $4,096 x 2 = $8,192
    $8,192 x 2 = $16,384
    $16,384 x 2 = $32,768
    $32,768 x 2 = $65,536
    $65,536 x 2 = $131,072
    $131,072 x 2 = $262,144
    $262,144 x 2 = $524,288
    $524,288 x 2 = $1,048,576

    How can you Double your Money?

    20 transaction might not seem realistic but there are plenty of things you can do to double your money. With the lower end, books, clothing and things from garage sales, op shops or similar can be acquired and flipped for a profit if you know what you are looking for.

    There is some risk, you don’t know if the items will sell or they may take a while to sell. But if you get good items with a higher profit margin it can see you quickly move up into the thousands.

    Larger amounts you can use for websites, cars, crypto, real estate etc.

    How to Double Thousands?

    When you get into the thousands it might seem trickier. I’ve bought and sold cars for a profit. Websites I would buy then increase their traffic and sell them for 10 to 20x what I paid.

    Websites were the clear winner here for flipping for a profit but life got busy. It’s something I will be picking up again and will share how I do it, my sales etc.

    How to Double your Money at the Higher-end?

    Websites, cars and property are all quite viable here. Property can take a little time to increase and with the way the world is, it might be harder to do in certain areas. There are whole TV shows on flipping so if you have the time and skills, you can make a decent profit.

    Be aware, you need a good budget, time and a lot can go wrong. Patience is key here. It won’t happen overnight but if you are committed to learning and taking action, you can double you money in some cases or with a few houses.

    Is it Realistic to Become a Millionaire? Or Financially Free?

    For us, it is realisitic but I also understand, it’s not for everyone. I do believe everyone can improve their financial situation a little though and sometimes having a clear goal such as this helps. Doubling your money as outlined above is one example to get there but it isn’t the only way.

    Investing in shares, investing in business, starting something or taking it over and making it grow. If you don’t mind waiting, simply investing in super, savings and shares will get you there at retirement age, especially if you start younger.

    It is about dedication and a focus on your goal.

    Our Millionaire Goal

    Millionaire status isn’t my main focus. Having flexible incomes with multiple income streams enabling us to be financially free is my goal. FIRE – meaning Financial Independence Retire Early is our goal.

    I’ll be sharing our journey as I go. The focus of this site and project is to start with $2 and turn it into $1,000,000. However, that doesn’t mean I won’t be using our other resources.

    The main aim is to buy things to resell and get to the higher amounts quickly so we can focus on property. And we will be sharing the journey the whole way.

    What is your big financial goal?