“Becoming a Money Magnet”

Making and saving money are usually a college student’s favorite dream and worst nightmare. I don’t believe I need to distinguish which one is which.

Believe it or not, making extra money isn’t that difficult; however, keeping it is another story. For now, we’ll just focus on making it.

John D. Rockefeller once said that the only difference between a rich person and a poor person is how each DECIDES to spend his or her time.

Rockefeller was implying that people with money usually invest their time in money-making activities,while people without money usually invest their time in money-wasting activities. Given that Rockefeller was a one of the richest men in America during his time, and I’m not, who am I to argue?

For the college student, making “extra” money seems like a fantasy at best. But it is possible. I know you would love some fast, money-making tips, and I will indeed share some of them with you, but not in this session.

Instead, I would like to focus your attention on the philosophy of making money. The old adage, “a fool and his money will soon part” is definitely true if you don’t understand the philosophy behind making money.

Personally, I’ve made quite a bit of money, but I’ve also wasted quite a bit, because I didn’t learn these lessons sooner. You now have the opportunity to do so. I’ll share with you some of the “money-making philosophies” acquired from some of the best money-making minds I’ve ever met.

After you master and internalize these philosophies, all of the ideas and strategies RWU will provide in the future will be much more meaningful. Here are some of those invaluable money-making lessons:

1. If you want to make money, hang around those who have it.

They say that your personal income will equal the average income of the five people you hang around the most (give or take $5,000). This philosophy blew my mind. Think about it, it would almost be impossible for you to hang around Bill Gates, Donald Trump, and Oprah Winfrey and not increase your income. Of course, we don’t have those types of friends, but rest assured, if you hang around people who lack money, you will too. Our job is to either to help our friends who don’t have money, make it, or start associating with those who do.

2. Sell your college education.

As a college professor, I know we teach stuff that you’ll probably never use again in your life. I’m still waiting to use my wonderful algebra skills (just ask me a math question, I dare you). However, believe it or not, you have learned some things that are very useful: Can you type? Do you know a desktop publishing program? Are you skilled at public speaking? Can you organize an event? Can you write well? Can you teach your favorite subject to others?

If your answer is yes to any of these, or you can think of something else you can do, then you have a marketable, money-making skill. I’m not saying it will make you rich, but you’ll make more money using that skill than you would sitting on it.

3. Act as if you’re self-employed. (whether you’re working or not)

Those who make extra money are those who are always looking for opportunities to make it. Listen to what people (especially students) need and complain about the most. Even if you can’t fulfill that need, find someone else who can, and split the profits with them. Your job would be to find the customers, and their job would be to serve them. This goes back to philosophy #1; if you hang around people who are constantly seeking opportunities, you will start finding them yourself. Even after you graduate, remember that you’re always the C-E-O of Y-O-U, Inc.

4. Ask and you shall receive.

The Bible tells us that “we have not because we ask not.” Understand that your motives must be pure in your asking. However, the only way you’ll ever get anything from anyone is to ask for it. If you take it without asking, that’s called “stealing.” Ask everyone you know (who’s in a position to pay) if there’s anything you can do for them (legally of course) to earn some extra money.

I constantly did this as a student, and I was SHOCKED how many people said yes. A student asked me the same question one semester, and because of her sincerity, I found a job for her to do (baby-sitting) and I paid her for it. Did I have to? of course not; but I knew she needed the money. Don’t leave extra money on the table, ask for it.

5. Money is not the root of all evil, the love of money is.

This has to be one of the biggest misconceptions about money. Money is harmless until it’s in a fool’s hands. Greed, manipulation, exploitation, blackmail, and bribery are all “misuses” of money. The people behind these tactics are the evil ones, not the money. If you continue to think money is evil, then you’ll never have it. Even if you get it, you’ll feel guilty about having it. Money is a good servant, but it’s a terrible master. Don’t let your income go up and your IQ go down because of money. Appreciate it for what it is (a means for exchanging goods and services), and you’ll find yourself making more of it.

6. Give and you shall receive.

I know this seems to contradict the premise of “making” money, but it’s the epitome of abundance. When I was a college student, I worked several jobs (14 in all!), and I could barely make ends meet. My younger sister, who was a college student also, was struggling financially to survive herself.

However, whenever she called needing financial assistance, I always gave it to her, even if it was my last. Why do I tell you this? Because regardless of how many times I would give her my last few dollars, God always seemed to replace what I gave and provided a little bit extra. I can only speak for myself, but whenever I give to those in need, I’ve found that my needs are always met. This was one of the best lessons I’ve ever learned. By the way, my sister is doing financially well, and if I ever need help, guess who I can always call on? My advice: give faithfully, and expect a miracle.

There is much more to come on this subject, so keep visiting RWU to receive the best strategies and ideas from some of the best sources in the world. Remember, the key to wisdom is knowing “where” to look for the answers. Thanks for visiting RWU, and please tell a friend. Until next time, live purposefully. God bless.

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