YRB33The Young Retiree by 33
Mindset

The Most Important Question You Can Ask: How Can I Afford It?

By Travis

Too often, people get stuck in the fixed mindset. It is important to begin asking yourself 'How can I afford it?' The most common feedback people have is telling themselves they can't afford it. This mindset is fundamentally true if you tell yourself it. Begin reframing your mind to ask the question 'How Can I Afford It?' instead. This fundamental shift in mindset is transformational.
 
$13.70 Per Day Costs You $5,000 Per Year
I continue seeing more and more posts from people about the importance of not spending money on coffee. The importance of not spending money going out to eat for lunch or other things daily. A common thing people share is the 'Want to learn how to blow $5k a year? Spend $13.70 on lunch every day!'
 
Does $13.70 per day equate to $5,000 per year? Yeah, the math checks out. Now, let's look at this problem from a different perspective. What if I asked you, hey, how can we make an additional $5,000 in income a year? Well, you need to make $13.70 per day for 365 days. That will equate to $5,000 of additional income in a year.
 
A very simple refrain in the question makes you think in a completely different way.
 
Ways To Make $13.70 Per Day
There are many side hustles you can take on that would earn you $13.70 per day. Here are a few side hustles you can do:
  • Flip items from facebook marketplace that people are giving away for free. Make sure to equate gas and car mileage in this. Typically it "costs" $0.50 per mile driven in gas, maintenance, etc.
  • Deliver food on Uber of Lyft
  • Drive passengers for Uber or Lyft
  • Rent out your spare bedroom on Airbnb - house hacking at its finest, find out how I house hack at this link! 
  • Sell crap you have accumulated in your home that you don't need
These are just a few of the side hustles you could pick up to make some extra cash.
How Investments Can Pay For Things
Think of it in this way. Let's say you wanted a new car because the car you have is about dead and at this point it is a need in your life. Okay, cool. Let's follow this mindset.
Ask yourself, 'How can I afford a new car?'. The first thing that is important to note is you don't need a new car. You need a used car that is as good as new. Let's say a new car would cost you $220 a month in payments for a certain amount of time. Cool.
Ask a more specific question now. 'How can I afford $200 per month for a car payment?'. I will use one solution for this example. Let's say you live by yourself or have an extra room in your home. How about renting it out for a few nights a month on Airbnb? Depending on your area/market, you could rent the room out for $30-50 per night. This would take you 5-6 nights per month to rent out to pay for your car.
Just like that, you can now afford a new car by asking yourself one simple question and solving the problem!
 
So What's The Point?
The point is simple. Stop saying you can't afford things in your life. Ask how you can afford them. Be creative with your thought process and how to solve the problem. There are many ways to make more money in this world. We live in a day and age of incredible technology.
 
The power of your cell phone has enabled hundreds of thousands of people to make a better life for themselves. Begin to reframe the question in your mind. It is simple, yet powerful.
 
Key Takeaways:
  • Start asking yourself how you can afford something versus saying you can't afford it
  • Understand there are hundreds of ways to make extra income. Figure out what could work well for your life situation.
  • Use technology to your advantage! We live in an incredible age where we have so much power in the palm of our hand.
Don't forget @TheYoungRetireeBy33's 3 Core Principles:

1 - Your money should make money for you⠀⠀⠀⠀⠀⠀⠀⠀⠀ 2 - Start early to realize the power of compound interest⠀⠀⠀⠀⠀⠀⠀⠀⠀ 3 - Eliminate your largest expense by house hacking

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