I was reading a post over at Bob’s Blog about Relying 100% On Online Income. His article is a good read and I would encourage all of you to check it out if it sounds like something that would interest you.
After reading his article, I got to thinking about all of the “online friends” that I have met over the past several months - more specifically, those like Bob who earn 100% of their income online. From what I can tell, all of these “internet entrepreneurs” seem to live a very comfortable lifestyle, and rightfully so - they have earned every bit of it.
Wonder as my mind tends to do, I then started thinking about the extravagant lifestyles that “rich” people tend to lead. From there, I toned it down a bit and got back to the core of my thinking - do you live “on the edge” of your income?
I know a lot of people who make a lot of money at their jobs; both online and in the “real world”. 95% of these people live the life of luxury, when in all honesty, they are living “paycheck to paycheck” like those who are not as wealthy.
I’m not really sure the right way to get my point across in this post, so everything probably seems all jumbled together. But, my point is just because you make a lot of money, it’s probably not the best idea to generously spend all of that money on expensive things that you could do without. For example, why spend $2,000 per month on rent when you could get by just as well with a house that costs only $1,000 per month?
This extra money could be put into a high yield savings account or a money market account where it would earn you a good bit of interest. Living day to day, paycheck to paycheck is a risky thing. If the unexpected were to happen, would you be able to get by for say, six months to a year, solely on money you have in the bank today?
