Who says life is a straightforward thing? It is not. It is a very complex journey, filled with numerous decisions, experiences, and lessons. As I reflect upon my past choices, I often contemplate what advice I would offer to my younger selves if I had the chance to travel back in time.
I’ve written this before, and this is the latest version of it I want to highlight a few main things about life that I wish I could impart to my past self. These insights encompass various aspects of life, including financial stability, personal growth, and finding fulfilment.
I wish I can go back in time, really, and work on these as early as I possibly could.
The importance of earning regular income
One of the most crucial lessons I would share with my younger self revolves around the significance of earning a regular income, such as a salary or a regular incoming income from the business. I love earning regular and predictable paychecks. To me, real peace of mind and living a fulfilling life starts here.
Earning a regular income ensures stability in meeting all the monthly obligations back home. Every single payment, expense, debt repayment, and planning for the future can be done easily on time. In other words, it offers a sense of stability, allowing me to make informed decisions about my own personal finances and goals. A steady paycheck provides a safety net that allows me to weather unexpected challenges, such as emergencies.
The importance of building passive income
In addition to earning a regular income, it is vital to recognise the value of building passive income streams. You see, we are not going to work forever. We do not know when is the time we no longer have the energy to continue doing what we are doing. We do not know when is the time people will stop appreciating our professional values in the future. This is where passive income will come into play.
It refers to earnings generated from ventures that require no or minimal effort once established. By diversifying my income sources, I can achieve financial independence, create long-term wealth, and gain the flexibility to pursue my dreams without worrying too much.
Building passive income requires time and consistent effort, thus it must start as early as possible.
In my opinion, one effective way to build passive income is through subscription-based businesses. In today’s digital age, where technology has transformed the way we consume products and services, subscription-based models have gained immense popularity. By offering products or services on a subscription basis, such as software, online courses, or membership sites, we can generate recurring revenue while providing ongoing value to customers.
Building passive income through subscription-based businesses provides several advantages. Firstly, it offers a predictable revenue stream, as customers commit to regular payments for continued access or benefits. This stability allows for better financial planning and reduces the uncertainty often associated with traditional business models.
Secondly, passive income enables us to break free from the limitations of trading time for money. Instead of being restricted by the number of hours we can work in a day, we can create scalable income streams that work for us 24/7. By investing time and effort upfront to establish these ventures, we can reap the benefits of ongoing earnings with minimal ongoing work.
Furthermore, passive income sources provide a sense of financial security. They act as a safety net during challenging times and offer opportunities for personal and professional growth. Having multiple passive income streams not only diversifies my financial portfolio but also allows me to explore new passions and invest in endeavours that align with my personal values.
The importance of living below the means
You know, it’s great to have a bare minimum relationship with banks. You need to experience it as early in life as possible, really. Living below the means is a crucial habit that leads to financial stability and reduces the stress associated with excessive debt. It involves adopting a frugal mindset and prioritising my needs over wants. By consciously managing my financial commitments, I can save more, invest more, and enjoy life more too.
Living below the means offers freedom. It’s the freedom of choice in making decisions. When there is no big payout to third parties, usually you will have some cash in hand. If you are disciplined enough when managing the cash, you are going to end up having a large amount of liquid in hand—quietly. This will enable you to exercise freedom when making decisions.
At the same time, living within my means allows me to make the pressure to keep up with societal expectations irrelevant. It’s like, you can go ahead and buy that luxury car, live large in that luxury house and splurge on that once-a-month holiday abroad, I’m just going to live my simpler life quietly here, moderately.
Know the difference between acquiring email subscribers versus social media followers
Being a marketing strategist and blogger, I’m taking note that yes social networking plays a dominant force in building a large ecosystem of professionals that will lead to rapid business growth. Yet, it comes with a little caveat. Social media is essential subject to algorithms and ever-changing trends. I will tell my younger self to play the online presence strategically, starting by balancing the followers’ accumulation on social media platforms with growing the email subscriber base.
Email subscribers offer a direct and reliable channel of communication that is not influenced by algorithmic changes or platform limitations. The keyword here is direct. By building an engaged email list, I will establish a direct line of communication with my audience, allowing us to nurture relationships, provide value, and foster brand loyalty.
Furthermore, email subscribers are more likely to convert into customers or clients. When individuals willingly share their email addresses, they demonstrate a higher level of interest and trust in my offerings. By consistently delivering valuable content and personalised messages to my email subscribers, I can easily build credibility and establish myself as a trusted authority in the subject of marketing.
Unlike social media platforms, email marketing allows for greater control over message delivery and customisation. With email, I can segment the audience, tailor my content to specific demographics or preferences, and create personalised experiences. This level of customisation strengthens my relationships with subscribers and increases the likelihood of conversions and long-term engagement.
Moreover, email subscribers offer a stable and lasting connection. While social media platforms may rise or fall in popularity, email has remained a reliable communication medium for ages. By building an email list, I’m creating an asset that I can leverage for years to come, regardless of the ever-changing social media landscape.
The importance of becoming the master of my own time
Time is a precious asset which will be gone if I do not make full use of it. That being said, leading a balanced life is indeed crucial here.
This is where priorities will come into play. By setting clear priorities, I can identify and focus on activities that align with my values and goals. Understanding what truly matters allows me to allocate my time and energy accordingly, avoiding distractions and pursuing endeavours that bring a sense of accomplishment. Therefore, skills such as prioritisation and leveraging matter.
Having the power to say No is also important to me. I hardly participate in most of the networking or meet-up events, that’s for sure. This decision allows me to establish more time for myself, my loved ones and do the activities I like to do. This balance is crucial for my overall well-being, allowing me to focus on what matters, stay sharp and prevent burnout.
Family doesn’t mean blood ties
While blood relations are there for a reason, I would tell my younger self that family doesn’t equal blood ties. I learned in life that putting efforts into being helpful and being there we needed the most extends beyond biological connections. Love, trust, and support can be found in friendships too.
I’m closer to some of my friends than my siblings, that’s for sure. With them, I can feel there is a sense of belonging and emotional well-being. They offer unconditional support, understanding, and encouragement which I see as pillars of strength during challenging times and celebrate the good and bad times. Recognising and embracing this broader definition of family has enriched my life and provided a strong support system as I navigate the complexities of life.
To recap
Life is such a colourful journey. While I definitely cannot travel back in time to impart advice to my younger self, reflecting upon my experiences can offer valuable insights for the future. There’s more actually, but those aren’t as important as these.
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