Where Should the Focus Be? Making Money or Saving Money?
As a Family CEO, I find that my focus alternates between making money and saving money. By that I mean that are times when I am more motivated to bring in extra income and times when I'm more motivated to preserve the income we already have.
I'm inspired daily by Meredith, whose focus is on frugality and helping her family live on one income. After all, it makes little sense to keep picking blueberries when you have a hole in your bucket. And I love the fact that the "income" produced by saving money isn't taxable. If you find a way to save a dollar, then a dollar stays in your pocket. Earning an extra dollar will leave considerably less in your pocket.
And yet I can't help but be motivated by Tricia, whose focus is paying of $72k of debt by making money online. With four small children alongside her. There are times when extra income is what needed and that girl is testament to what you can achieve when you focus. I'm also enough of a believer in the law of attraction, meditation, visualization, and prayer to wonder if the focus should be on abundance over scarcity.
So I struggle with where my focus should be. Obviously, one approach would to put some emphasis on each and that is what I've done thus far. And yet I have a nagging feeling that focus on one or the other would produce better results.
I am really interested in other thoughts on this. Please leave a comment or email and let me know where your focus is.
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3 comments:
I feel like we are living the best of both worlds. I share ways that we save money and our advertisers make me money on the stuff that I am sharing about. It feels weird to make money on just what we do in our everyday life, but I feel extremely blessed to get a little out of each world. Great post!
Good point about the best of both worlds, Amy. Do you feel like your focus is more on ways to save money or on earning money via your blog, etc.? Do you ever feel like your focus is split?
Our family tries to juggle both saving more and earning more. It's really easy to fall into the earn more spend more trap. Earning more passive income, is where my passion exists. I want to watch our spending too, but really want to work on some alternative income streams for our family. Just starting something, is really important.
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