It actually takes currency to make money. It’s up to you to determine your currency.
I sometimes roam around the Internet reading how some bloggers/writers built their online empire (well not empire, but you know what I mean). Some people create sites, hire writers and earn money. Others purchase memberships to sites that help them learn and earn. In such cases it takes cash money to earn money.
A Different Route
I chose a different route to earning money. Instead of cash money, I used a different currency. I used time. Time is a valuable commodity and in my opinion worth more than money any day. Having all the money in the world is pretty useless if you’re out of time.
Anyway, instead of purchasing programs, I spent a lot of time learning, writing and building. I chose time as my currency for two reasons.
- I’m cheap
- I love what I do, so what better way to spend my time than doing something I enjoy.
Because I enjoy what I do and use time as my currency, I spend very little cash to earn money online. I’m finding that I’m spending less time too. 🙂
Inspired by a post by Michelle over at Passive Income Online I decided to look at my last 12 months of earnings and compare my earnings with my cash expenditures. Not to bore you with the monthly details, my earnings from August 1, 2010 to July 31, 2011 totaled $24,976.84 (excluding my eHow buy out). My business related expenses totaled $691. Okay, you can toss in an additional $378 because I bought a netbook to make traveling easier, but the netbook wasn’t absolutely necessary.
The majority of my expenses pay for my Aweber membership, annual hosting fees and domain name renewals. I bought the Aweber membership because “having a list” is important, but I barely use it. If you have signed up for my newsletter, you’ll quickly realize that I infrequently send out newsletters. I’m on the fence as to whether or not I’ll keep the membership (costs about $250 annually).
Don’t get me wrong. There are other things I’ve purchased for my home office, but those items are things that make my life easier such as a new couch, book shelves, wireless headset, computer speakers and such. These items are nice to have but if I didn’t buy them it would not affect my ability to earn money. Domain names and annual hosting on the other hand are must haves in our line of business.
Back to the Title
It does take money to make money, but it’s up to you to determine your currency.