Everybody wanted to make money and get rich so that we can live the life style that we want without worrying about money.

Before we can become rich, we got to find out how to make money.

Please take note that the following money making method highly depending on your age, background and environment. To make more money, you may need to have different combinations at different stage to achieve your goal – Rich.

1)     Fixed Salary Employment – you trade your time from 9am to 5pm, Monday to Friday for a fix amount of money. Sometime you may have to work overtime but you may not get paid for additional work that you need to perform. You may or may not reward by the company bonus in the end of the year. Salary increment is subject to your superior recommendation as well the company financial health.  In summary, you make money by trading your time with your employer.

2)     Fixed Salary with Commission Based Employment – We call this group of people sales representative, they get paid a low salary but with more incentive if they successfully achieve their sales target set by the company.  Their income is unlimited depending on their sales result. In summary, you make money by trading your time with your employer.

3)     Self employment – Basically you are the boss and you are the worker, you don’t get paid a fix salary at the end of the month.  When you work, you make money, when you stop, no money will be coming in.  This category inclusive of people like doctor, electrical service technician, plumber, writer, translator etc. In summary, you make money by offering your services directly to your customer.

4)     Part Time Business – whether you are employed or self employed, you can start a part time business to make extra money after your committed time to your employer.  You may sell newspaper, breakfast before you go to work, selling stuff via Internet in the evening after office hour, or selling goods or services related to your hobby during weekend in the flea market.  In summary, you make extra money beside your full time income.

5)     Full Time Business – You make money by employ a group of staff to help you run the business, you may or may not need to get involve in the operation depending on the maturity of the business.  If you are running a business without your intervention, that means you are a very successful business person. In summary, you pay someone a fix sum of money to trade their time for their effort to make more money for you.

6)     Investment – You make money by using your existing money to work for you. For example, you invest your money in real estate, collect monthly rental from the said property or you invest your money in the stock market and receive dividend annually. In summary, you get your money to make more money for you. 

7)     Speculation –  You can make money by speculation too, the most common speculation activities can be seen in the stock market, Forex as well as commodity market.  If you foresee the price of a stock, a currency or a commodity will be going up, you may purchase it now and sell it when the price goes up in a very near term.  The different between speculation and investment are time and foundation.  Investment is long term and depending on the solid foundation. Speculation is short term and depends on supply and demands.

The above are the simple and common ways to make money, if you have any other idea to make money, please leave a comment HERE to share with others. 

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