A lot of us are not satisfied with our job, so naturally, we ask the question, “How to Make Enough Money To Quit my Job”! If you are one of the people asking this question, I have an answer for you
Hi Wealth Builders!
In this article I will give you an answer to why people want to quit their job and more importantly, I will teach How To Make Enough Money To Quit Your Job!
According to a survey, about 60% of Workers Have Quit or are Considering Quitting Right Now! Boy, that is a lot of unsatisfied workers!
The primary reasons why Americans want to quit their job are the following:
- Profit over people
- Bad supervisors
- Lack of appreciation for hard-working employees
- No growth opportunity
- Not getting challenged
- Career development
Do you want to or have you quit because of the reasons above? Let us know in the comment section below.
Regardless of your reason, I will teach you How to Make Enough Money to Quit Your Job?.
The core of this strategy is building a profitable online business to create an income stream that can replace your work income.
Please be warned that this is not a Get-Rich-Quick Scheme. This strategy is about building a legit and profitable business. That said, you can’t expect this strategy to work in just a few days with little to no effort at all. I still have to see a business that became successful overnight. Even the illegal one took time to take off.
Now that we are all on the same page, allow me to give my 3 Steps to How To Make Enough Money To Quit Your Job!
Affiliate Disclosure – I am an Affiliate of many products promoted on this website and may earn a commission if you purchase something.
How to Make Enough Money To Quit My Job?
Step 1: Create an Online Business on the Side
Many people avoid Online Business Opportunities because they fear it is a scam. Sadly, it true that there are a lot of scams out there but avoiding them is really easy.
All you really need to do is to avoid those who promise that you can make hundreds to thousands of dollars within a few weeks if you will follow their method.
The truth is, starting an online business is easy and you can really make money but only if you compare it to a traditional business. Still, you will have to put effort (and a lot of it) especially when you are just starting. This shouldn’t discourage you from starting though because once your online business flies, boy, the sky is the limit.
Now, I hope I’ve cleared up some of the false expectations about making money online! Now let us go to the nitty-gritty of the post.
The first step to How to Make Enough Money to Quit Your Job is creating other sources of income.
How do you create an online business?
Learn and do an online business model that suits your skills and personality.
There are many online business models (see the list below) that you can do but I will focus on affiliate marketing in this article.
Why affiliate marketing?
I choose affiliate marketing because, in my opinion, affiliate marketing is the godfather of online business.
I mean it is everywhere! Just watch your favorite Youtuber – they ask you to click the link in the description to buy the product they used in the video. Or read your favorite blog – they have a link where you can buy your product. Heck, even online rebate sites such as Honey, Swagbucks, and/or eBates uses affiliate marketing.
In addition, affiliate marketing is easy to start and it is kind of low maintenance. This is especially once your site is receiving regular visits.
How to make money with affiliate marketing?
I made my first sale about 3 months into the business although if I’m going, to be honest, that is kind of lucky.
My friend saw my Facebook post about Wealthy Affiliate. After reading the post, he decided to join Wealthy Affiliate and boom I got my first affiliate commission.
A few months later, my second income came from an “Amazon Affiliate blog” that I wrote. I created an article on Affordable Father’s Day gift and shared in on my Facebook profile. Another friend of mine saw the post and he purchased a gift for his dad through my blog.
Anyhow, below are the steps that I went through to set up my affiliate marketing.
How to set up a profitable affiliate marketing?
- Set up a blog
- Find and enroll to affiliate partners
- Create a post with the intent of selling the products of your affiliate partners
- Make a Call to Action to click your affiliate link
- Generate Organic or Paid traffic to your site
- Hope for the best that someone will buy the product you are advertising through your affiliate link
- Collect your commission
Yes, the steps to set-up an affiliate business is simple but each step is actually more complex. It would be hard to start one without proper training or help from the expert and from like-minded people.
Wealthy Affiliate to the rescue!
If you are serious about starting an affiliate marketing business, I would recommend that you subscribe to Wealthy Affiliate.
Wealthy Affiliate has all the things you need to start an affiliate marketing business.
They have step-by-step training that will help you learn the basics as well as some intermediate to advance skills you will need to run a profitable affiliate blog.
They will host your website, give you access to WordPress (website builder), and register your very own domain name to keep everything in one place. For me, this is good because it makes blogging simple plus keeps the cost of running a blog really.
The best thing about Wealthy Affiliate is it has a community of over million-plus affiliate marketers coming from all sorts of experience thus you can learn with them or learn from them.
Anyways, instead of me telling you what I like about Wealthy Affiliate, why not try it yourself for FREE.
Yes, you can explore Wealthy Affiliate for FREE, no credit cards needed!
I’ve also written different articles about Wealthy Affiliate (See Below) in case you want to learn more about it before subscribing.
- Is It Possible to Make Money With Wealthy Affiliate?
- Wealthy Affiliate is a Scam – Or Is It?
- Does Wealthy Affiliate Really Work?
- Is Wealthy Affiliate Worth It?
If affiliate marketing doesn’t appeal to you, here are the other online business models you may want to explore.
Common Online Business Models
- e-commerce
- Online freelance
- Online retail arbitrage
- Buying and selling website
- Private marketing rights labeling
- App development and selling
- Google Adsense blogs
If you notice, the examples above require way more knowledge, resources, and experience to start compared to affiliate marketing… maybe with the exception of Google Adsense blogs.
Step 2: Create a Budget and Stick to It
If affiliate marketing is the route that you will take towards financial independence, then you can expect to consistently make money after 6 to 1 year – provided that you really put work into it. If you are willing to spend a little bit of money in PPC (Wealthy Affiliate will teach you how) or social media paid post options, then you can expect to make money faster.
So what to do while you are building your business?
If you don’t have a budget or never have done a budget, then this is the perfect time to learn and put it into action!
Why? Because wealth is not measured by how much you make but how much is left from what you make after you paid all of your expenses.
This is important to you because if you finally make $5k a month but don’t know where your money is going or don’t know how to manage it, at the end of the day you will still be broke and will be running looking for a job.
I don’t want you to become like one of those multi-million-dollar athletes while still active but bankrupt after their career.
In addition, if you know how to budget, then you might be able to quit sooner than planned because you can finally see where your money goes. If you know where it goes then it is easier for you to stop spending on things that are not important to you.
Do that and you will have more money. More money to enable you to quit your job!
Step 3: Save 3 to 6 Months’ Worth of Expense
Why do you need to save 3 to 6 months’ worth of expense?
To quit sooner!
Once you start to consistently make money from your affiliate marketing business, you can start planning for your retirement because it is all about scaling up at this point.
Here is a piece of great news for you!
If you have a savings of 3 to 6 months’ worth of expense then you can quit your job 3 to 6 months earlier.
Again that is why it is important to learn how to budget so you can save up faster.
I want to make this clear.
You will not quit in 3 to 6 months (if you have the savings) after you made your first income. You can quit 3 to 6 months after you are consistently
making money.
So for example,
You are making about $500 a month and every month it is growing. You noticed this is a trend that is happening for more than 3 months already.
In addition, you are aware of how exactly you are making the money and able to adjust your strategy to make more money.
At this point, you can probably quit if you have enough money saved!
If you want to be extra cautious, wait until your business is making half or even greater than what you normally earn from work.
Why do you want to do this?
If you are already making money consistently, then it means it is just a matter of scaling up. There is a good probability that you cannot put more hours on your business because you have to spend your time in your 9-5 job. This is most likely counter-productive so save up so you can scale up faster.
Of course, to be extra safe, quit when your online business makes equal or greater than your usual income.
Happy Quitting!
Yeah, I think those three steps will help you Make Money to Quit Your Job.
Always remember. To achieve financial independence you need to keep two things in mind: Income and expense.
Step 1, starting an online business, will help you make money to increase your income, so it will be greater than your expense.
Step 2, creating a budget, will help you track or lower your expenses, so you will have a “surplus” of money so you have money to use to pay for your expenses even after you quit your job.
Step 3, save 3 to 6 months’ worth of expenses, is just kind of insurance so you can quit sooner
Do You Agree?
Do you agree with my list? Do you believe these 3 steps will help you Make Money to Quit Your Job?
If so, let me know down below which step is most helpful/eye-opening.
If not, let me know as well why not and suggest how to improve it.