How to Make The Stimulus Check Work For You

It’s official some relief is on its way and you are about to receive $600 bucks from the government as part of the massive 2.2 trillion stimulus bill.

This second-round payment will be for $600 per eligible person, plus an additional $600 for each child. The bill was finally passed by Congress and signed by Trump to help stimulate the economy.

Several households will have no choice but to use this long awaited money to put food on the table, or keep a roof over their heads, but if you are not financially distressed consider making this money work for you!

It is a wise move to SPEND THIS MONEY TO MAKE MORE MONEY FIRST!

If 2020 didn’t make you hustle please let this $600 put your butt in gear because $600 is really not shit! Excuse my language! This should open your eyes and prove to you that no one will be coming to your rescue. It is your job and responsibility to play your cards right and envision the bigger picture. Of course be grateful and then see it as an opportunity to start something that can put you in a better position financially speaking.

I’m the biggest fan of leaving the 9 to 5 life and 2020 has taught many unfortunately just how temporary a 9 to 5 job can be. I was once a full time accountant for a million dollar company and I was making a great salary. But working 9 hour days away from my kids for 5 years really didn’t sit right with me anymore and I couldn’t waste another second of my life sitting at my desk wishing I was home with them. This strain to be home with them really lit my fire and fed my entrepreneurial spirit and pushed me to open my eyes to new opportunities.

This is why I believe in helping others see their true potential and also become financially free. Helping them shape a mindset that pushes them towards starting multiple streams of income. Motivating people by showing others where I came from and what my situation looked like and how much it has changed for the better by taking a chance. The possibilities are endless when you see that the 9 to 5 route is not the only path to take just because society told you so.

It’s time to create something that you can be proud of and no one can fire you or take away what you built from the ground up. Pushing yourself to achieve something greater helps you build character and discover your true passions in life.

You need to love what you are doing as a side hustle for it to be successful for you. I always say treat it like it like a high paying job and it will eventually pay you like one.

Creating a new stream of income will be done on your own time and outside office hours if you have a day job, so it will take a lot of energy and motivation to make it stick. Brainstorm side hustle ideas around your interests and skills to discover the best ventures to start or see if you can turn one of your hobby’s into a business. If you need some ideas I’ve listed 5 different routes you can take to make your money work for you.

We have always been taught to trade our time for money and then spend our money on things in order to survive. I have discovered that all along the best thing you can possibly do for yourself is to trade your money for more money in order to grow your wealth.

Number 1

Start a business that you are passionate about!

Maybe you are so good with fixing your own credit that you feel confident in your methods to also help others by creating a credit repair business.

Let’s say you are really crafty and with a small investment you buy a vinyl cutter to help you make custom shirts, stickers, tumbler cups, and so on. You sell these on Etsy for a pretty profit and advertise on Instagram and Tik tok creating a lot of buzz and converting that traffic into sales. Cha-Ching!!

So many businesses are out there waiting to be created it’s all a matter of who will take the time to plan one out and take action! Starting a new business can be scary and you will second guess yourself, but if it excites you and scares you all at the same time I’m here to tell you it’s probably worth it!

If you are looking to start a business and want to get more in depth with the technical aspects of creating a legal business entity check out the link below where I discuss how to form a Sole Proprietorship, LLC, or Corporation.

https://thebossmillenniallasvegas.com/2020/12/22/form-your-business-entity-with-confidence/

Number 2

Have you seen people around you talking about investing in stocks but really you have no clue what the heck they mean.

Which one do you buy?

Where do you buy it?

How long do you keep it?

How do you make money?

Stocks for one are very risky business and should not be taken lightly.

Only invest in stocks that you have thoroughly researched and only invest money that you will be ok loosing!

I will say though risky business can bring in some serious gains so don’t be afraid to dip your hands into this awesome way to make money work for you!

If you would like to invest in stocks and get familiar with what’s out there to invest in click the link below and sign up for this app that is extremely user friendly and great for beginners.

By using this link you will get a free stock to start you off!

https://join.robinhood.com/laurenr761

I will also be releasing a blog that goes more in depth into trading stocks, so be sure to sign up for our email newsletter to get the blog directly to your email.

On this app you can look up popular companies like Tesla and Apple and buy shares and hold them. You can watch as your money grows when the stock grows.

Confused on how this stream of income can make you money?

Check out this example:

The stock OCGN was only $0.76 cents per share and a news article was published saying it was going to partner with a larger company to help create the Covid-19 vaccine.

I purchased 1000 shares which came out to $760

The next day the stock went up to $2.53 per share so if you do the math: $2.53 x 1000 shares = $2530!!

I more then doubled my investment by swing trading $760 in this stock and traded it right on time to lock in my profit.

This is how you can potentially make a lot of money in the stock market with 1000’s of stocks to research and choose from.

But be wise and do your due diligence and proceed at your own risk!

Number 3

With the same idea as investing and trading stocks you can use that same knowledge and strategy to make money trading crypto currency.

My 3 most favorite crypto currencies to trade for profit is of course the infinite Bitcoin, the fast growing Ethereum, and I also enjoy trading litecoin. All 3 of these currencies have been on the rise throughout all of 2020 and have hit all time highs in 2021 as they continue to rise. Invest in some of these currencies at the right time and you can make some major money.

Back in 2010 If you would have invested only $100 bucks in Bitcoin you would now have over 75 million dollars!! How’s that for some incredibly life changing gains to really show you how your money can work for you!

Now on this very same path Ethereum is headed in the same direction and is projected to one day be as expensive if not more expensive as bitcoin, making it a great investment to hold for the long haul.

I don’t know about you but I’ll wait and hold Eth for 10 years if it could possibly bring me 75 million one day!

If your interested in learning more about Ethereum check out my blog below where I explain what the heck it is and how much potential it has.

https://thebossmillenniallasvegas.com/2020/12/28/ethereum-price-prediction-will-it-rise-like-bitcoin/

If you would like to invest and get started trading crypto use this link to sign up.

https://crypto.com/app/ubj4gw36nn

Crypto.com will give you $25 USD just for signing up!

Number 4

Resell items for a profit.

This has a low startup cost depending on what you have decided to flip.

By flip I mean buy low and sell high to get a healthy marginal return on your initial investment. You can flip anything from cars, clothes, shoes, sports cards, and so much more. To keep things simple you can use your money to go to the goodwill and look for some name brand items that are in great condition for you to invest in. You will be surprised the type of things people donate!

Research the items and make sure you can resell them at a good price point and list them on Offer up, Mercari, Poshmark, and other selling platforms and watch how fast you can turn a profit off of your investment.

Then rinse and repeat this process to resell just about anything. Give this one a try and I promise you will get addicted!

These 5 ways to make your money make more money really work and I have personally done and mastered them all myself!

I have proven over an over that they can turn a small investment into big money!

But remember it is all about having the right mindset to make a plan and take action.

Consistency is key and you must be focused and willing to give each one everything you got to make it work. Treat it like a business and it will pay you like one!

Here are 3 more bonus ideas that are smart ways to use your stimulus check.

1

Invest it into a high interest savings account or add money into your Roth IRA. Your future self will thank you for both of these.

Look into opening a Roth IRA so you can enjoy the tax free benefits and retire in style!

Not sure what that is I keep my Roth IRA with the company Ameritrade which you can look into below.

https://www.tdameritrade.com/retirement-planning/retirement-suite.page?a=bbu&cid=PSIRA&cid=PSIRA&ef_id=EAIaIQobChMIiLiw_OH_7QIVRQnnCh15jQUOEAAYASAAEgKm-_D_BwE:G:s&s_kwcid=AL!2521!3!449441046881!e!!g!!ameritrade%20roth%20ira&referrer=https%3A%2F%2Fwww.google.com%2F

2

Pay off any high interest credit card debt that could be making you spend more money then you need to.

Becoming debt free is the ultimate goal so get started on that as soon as possible! When you make a plan and do this intentionally you can create a snowball effect until you are completely debt free. This will help boost your credit and put you in a better position financially.

If you have debt on credit cards that are charging you interest at the end of each month, consider applying for a new card with a 0% interest APR and transfer your balances. Wanting to build your credit fast? Always pay more then your minimum payment!

This will help you save money, boost your credit, build credit history, and create a higher credit line.

3

Start a blog!

Having your own website where you post blogs about what you are interested in such as this one can make you some major cash. By no means is it a get rich quick scheme but through time this can eventually generate a lot of money for you depending on how you monetize your website.

You can make money several ways but here are a few easy ones to try out when first getting started.

Google Adsense is an easy way to make money from your blog. All you need to do is add a script from Google to your website and start displaying ads. You will get paid every time someone clicks on the ad and you will also get paid for how many views the ad gets.

Ebooks are another obvious choice for creating digital products and then sell them for profit. They are relatively simple to write and produce. If you’ve been blogging for a while, then you can collect some of your old blog posts and turn them into chapters of a book.

Get paid via Affiliate marketing which is when you recommend a product or service to your audience using special tracking links, and then get a referral commission for every time someone buys after clicking your link.

These are just a few ways to make you some extra cash utilizing your blog site.

All in all making money as a side hustle really boils down to what you like as an individual and how you choose to spend your time working on it. For me personally having multiple streams of income is really important and more so during this crazy pandemic. I have personally tried and continue to use all of the methods of making money that I have listed above and can vouch for each ones effectiveness. If you are motivated, hungry for a change, and are willing to put wants aside to make things happen I can assure you that you will someday become financially free! Stay blessed and build your empire!

-TheBossMillennial

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