Income options abound, yet too many are locked into a job-only income source. The key to wealth is your mindset.
$6 for a cup of shaved ice, and I bought two. A 20-pound bag of ice at a local retail store is $3.50, and that can make a heck of a lot of cups of shaved ice. The truck selling this novelty that you customize with your favorite colored sugar bomb had an employee on board who makes $12/hour. With my purchase alone, the owner grossed this employee’s hourly wage, and it took him about a minute from start to handing me my order. $12/hour is much higher than the local minimum wage in Florida of $8.22, so on the surface, this seems like a great job.
$12/hour job, or invest $120K in buying into Kona ice truck franchise. One person saw a ‘good’ job; another saw a great business opportunity. One has a paycheck they can budget on right down to the payment date, and the other exposed themselves to high debt, high risk, an instant payroll, and an unknown future.
This is a perfect example of low risk, low reward, versus high-risk high reward.
Money is a necessary tool for human survival in the modern society. However, income in necessary, a job is not. There are many ways to earn money and a job is only one way, but for many – the only way they consider or are open to.
For the job only income earner, while you are fattening the wealth of your employer, maybe one day, like Jacob in the Bible, you will realize that real personal wealth will never come from salaries and wages.
Income option: Wage or Wealth?
Read Genesis 30 for context, but in a nutshell, Jacob worked for 20 years for Laban and had no opportunity for wealth until Jacob struck a deal to switch from wages to commission based income.
29 “Jacob replied, “You know how hard I’ve worked for you, and how your flocks and herds have grown under my care. 30 You had little indeed before I came, but your wealth has increased enormously. The Lord has blessed you through everything I’ve done. But now, what about me? When can I start providing for my own family?”
31 “What wages do you want?” Laban asked again.
Jacob replied, “Don’t give me anything. Just do this one thing, and I’ll continue to tend and watch over your flocks. 32 Let me inspect your flocks today and remove all the sheep and goats that are speckled or spotted, along with all the black sheep. Give these to me as my wages.”
With this strategy, not only was Jacob able to quit working for Laban but when Jacob left Laban to return home, he left as a very wealthy man.
Job income can be a foundation for future wealth, but you must be strategic about using that income to participate in wealth creating activity.
Within the story found in Genesis 30, Laban enjoyed the blessing of Jacob’s work but tried cheating him out of fair wages several times. This is not to say your employer is, or will cheat you – but to point out that the employer’s first priority is their profit.
Similarly, you need to consider your own profit. While you have your job, there is no reason you cannot also generate other income streams.
My target market is Christian income earners, however within that group I further segment into job income earners, and self-generated income earners. Money strategies are very different depending on what group you are in, and mindset is very different too. One group tends to want to play it safe, the other are risk takers.
There are just too many ‘broke’ Christians needing a handout instead of being able to offer a hand UP to those in need. This needs to change. Tithing is also at an all-time low, according to Barna.com, the leading data company that tracks religious statistics. Scarcity rules a group whose Bible tells them that Jesus came that we would have life, and have it more abundantly. Abundant living is not scarcity living. I find Christians with a scarcity mindset to be mind-boggling. My work is definitely cut out for me. This is no cake walk I have embarked on.
I will always invite Christian income earners to become profitable stewards who enjoy debt-free wealth, and give generously to those things that move their heart. The first thing I need to help these Christians with, is to adopt a mindset of abundance, the abundance the Bible speaks of, the one where our Father in heaven tells us, “The Lord is my Shephard, I shall not want” because “He spreads a table before me in the presence of my enemies.”
If you are a Christian income earner, I invite you to join the movement and BECOME (it is a becoming, a process), to become a profitable steward who moves what God puts under your control to a profitable outcome. Profit is the realm of more, the realm of abundance. Join me.