Introduction
Many people are searching for ways to make $10,000 a month as a student. However, it's important to be aware that there is a lot of misinformation and false promises out there. In this blog, we will break down the three main components you need to focus on in order to achieve this goal. We will also provide some valuable insights and tips to help you on your journey.
Finding the Right Vehicle
The first and most crucial component to making $10,000 a month as a student is finding the right vehicle. By vehicle, we mean a means or opportunity that can generate significant income without excessive risk. Trading is not recommended as it often involves high risk and is not a reliable way to make consistent income. Instead, consider starting a lean online business. Investing a thousand dollars into an online business with the potential for growth can lead to tens of thousands of dollars in profit by the end of the year.
Generating Free Cash Flow
In order to make money, you need a business that generates free cash flow. This means having profit that you can actually use and not just having a high net worth. Many businesses have a high net worth but lack cash flow that can be utilized. Building a service-based business or offering high-value guidance and consulting are great ways to generate free cash flow. By providing a service with high perceived value or leveraging the work of others, you can make a substantial income and have the flexibility of working remotely.
Setting Realistic Expectations
It is important to set realistic expectations when aiming to make $10,000 a month. Building wealth takes time and effort, and it is not a quick process. While some individuals may achieve this goal faster, it is important to remember that everyone's journey is different. It took the author three years to reach $10,000 a month, but with the right dedication and the opportunities available today, it may be possible to achieve this goal faster. However, it is crucial to set expectations in years, not months, to avoid feeling discouraged or giving up too soon.
Continuing to Grow and Multiply Wealth
Once you reach the goal of making $10,000 a month, it is important to understand that this is just the beginning. The next component is to cement your place and make this income level your baseline. Use this as a foundation to continue growing your wealth and multiplying your income. It is crucial to study old money and learn how to keep and multiply your wealth over time. Building a solid financial identity where anything below $10,000 a month feels off will help you maintain and increase your income.
Conclusion
Making $10,000 a month as a student is possible, but it requires finding the right vehicle, generating free cash flow, setting realistic expectations, and continuing to grow and multiply your wealth. It may not happen overnight, but with dedication and the right opportunities, it can be achieved. Remember to set your expectations in years, not months, and focus on building a solid financial identity that will help you maintain and increase your income. Stay motivated, work hard, and don't give up on your goal of financial success.
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