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I lost my job a few months ago, and then I chose to plunge into the deep sea of social media. I was scared because I knew it was very competitive and I was prepared. I asked a lot of experienced bigwigs, looked up a lot of tutorials, and even asked about AI, and finally I started my battle on YouTube, here's my approximate allocation of funds for this month, can anyone help me see how else can be improved?
I started with $200:
1. AdsPower Subscription
Cost: $20/month
Purpose: Manage multiple YouTube accounts safely, avoid account bans, and streamline operations.(I also made a little extra money with it, about $40, but I didn't count the calculations below)
2. YouTube Channel Creation & Content Production
Equipment Investment: $100
Purpose: Purchase basic recording tools
Software Tools: $30
Purpose: Subscribe to video editing software
3. Affiliate Marketing Promotion
Promotion Budget: $50
Purpose: Invest in social media ads or boost YouTube videos to increase visibility and attract clicks on your affiliate links.
Estimated Monthly Earnings
Video Views: Assume each video receives 1,000 views, totaling 5,000 views per month.
Click-Through Rate (CTR): 2% (100 clicks).
Conversion Rate: 5% (5 sales).
Commission Per Sale: $20
Total Income: 5 sales × $20 = $100
Net Profit: $100 - $20 (AdsPower) - $50 (Ads) = $30
Of course, the real data is not so neat, and it is just erased for the sake of easy viewing
I started with $200:
1. AdsPower Subscription
Cost: $20/month
Purpose: Manage multiple YouTube accounts safely, avoid account bans, and streamline operations.(I also made a little extra money with it, about $40, but I didn't count the calculations below)
2. YouTube Channel Creation & Content Production
Equipment Investment: $100
Purpose: Purchase basic recording tools
Software Tools: $30
Purpose: Subscribe to video editing software
3. Affiliate Marketing Promotion
Promotion Budget: $50
Purpose: Invest in social media ads or boost YouTube videos to increase visibility and attract clicks on your affiliate links.
Estimated Monthly Earnings
Video Views: Assume each video receives 1,000 views, totaling 5,000 views per month.
Click-Through Rate (CTR): 2% (100 clicks).
Conversion Rate: 5% (5 sales).
Commission Per Sale: $20
Total Income: 5 sales × $20 = $100
Net Profit: $100 - $20 (AdsPower) - $50 (Ads) = $30
Of course, the real data is not so neat, and it is just erased for the sake of easy viewing
Re: Any Hope for a better economic situation come 2024 in the world?
I think the title of the thread should mention the year of 2025 instead of 2024. There is hope only if you are commited in changing your own life for the better. Forget the president of USA, forget the economical scenario, forget the promises you have been listening to. These things never change for real, decade after decade. What you can is to work yourself inside the personal sphere of your life.
Develop skills, seek knowledge, do hobbies which make you feel good while avoiding addictions and other harmful practices. Draw short, medium and long term goals. Evade from worthless and unproductive conversations (such as politics), so you can dedicate your energy to more constructive matters.
This way there will be hope for you.
I agree with your words, although I am still pessimistic about the economic situation, I still want to live in the present, we are just ordinary people, can only be controlled by those big hands, the only thing we ordinary people can do is to live a little happier under control, so you might as well do something you like, and take what you like as a career. I'm working on TikTok right now, which is my favorite short-form video platform, because I just lost my job, so I'm trying to make a living with TikTok. I searched the internet for many ways to make money with TikTokhttps://www.adspower.com/blog/how-do-you-earn-money-on-tiktok-10-ways-to-help, which was really enough for me to make ends meet.Develop skills, seek knowledge, do hobbies which make you feel good while avoiding addictions and other harmful practices. Draw short, medium and long term goals. Evade from worthless and unproductive conversations (such as politics), so you can dedicate your energy to more constructive matters.
This way there will be hope for you.
introduction
what is F.I.R.E
In conclusion, this is a movement where you can immediately achieve early retirement as quickly as possible.
summarized from various sources, here are some tricks to achieve F.I.R.E
design your life for the future, don't just think about eating or buying snacks today.
For those who are currently undergoing this movement, perhaps you can share your journey here and for those who really want to start this movement, you can ask and have a good discussion here.
It feels a bit challenging to achieve this, even though I've always believed in it and used social media as my primary source of income, with AdsPower software to assist in managing it. While I have indeed made some considerable earnings, there's still a long way to go to reach FIRE...what is F.I.R.E
Quote
is a lifestyle/investment plan with the goal of gaining financial independence and early retirement through savings. The model became particularly popular among millennials in the 2010s, gaining traction through online communities via information shared in blogs, podcasts, and online discussion forums.
Those seeking to attain FIRE intentionally maximize their savings rate by growing the gap between their living expenses and their income, and investing the difference. JL Collins, an author who has been called the "godfather of financial independence," has said:
"Spend less than you earn—invest the surplus—avoid debt. Do simply this and you'll wind up rich."
The objective is to accumulate assets until the passive income from these assets provides enough money to cover living expenses. Some proponents of the FIRE movement suggest the 4% rule as a rough withdrawal guideline, thus setting a goal of at least 25 times one's estimated annual living expenses. Others, such as economist Karsten Jeske, suggest planning for a more conservative withdrawal rate such as 3.25% or 3.5% (accumulating around 28 to 30 times one's estimated annual living expenses) when planning to retire very early.
FIRE has been criticized for its low accessibility, in that aggressive savings and large investment portfolios require a large sum of money to begin with.
Read More:https://en.wikipedia.org/wiki/FIRE_movementThose seeking to attain FIRE intentionally maximize their savings rate by growing the gap between their living expenses and their income, and investing the difference. JL Collins, an author who has been called the "godfather of financial independence," has said:
"Spend less than you earn—invest the surplus—avoid debt. Do simply this and you'll wind up rich."
The objective is to accumulate assets until the passive income from these assets provides enough money to cover living expenses. Some proponents of the FIRE movement suggest the 4% rule as a rough withdrawal guideline, thus setting a goal of at least 25 times one's estimated annual living expenses. Others, such as economist Karsten Jeske, suggest planning for a more conservative withdrawal rate such as 3.25% or 3.5% (accumulating around 28 to 30 times one's estimated annual living expenses) when planning to retire very early.
FIRE has been criticized for its low accessibility, in that aggressive savings and large investment portfolios require a large sum of money to begin with.
In conclusion, this is a movement where you can immediately achieve early retirement as quickly as possible.
summarized from various sources, here are some tricks to achieve F.I.R.E
Quote
Reducing Expenses: Choosing to live more simply, for example by cooking at home instead of eating out, or buying more affordable items instead of luxury products.
Focusing on Financial Priorities: Having clear long-term goals, such as saving to achieve financial independence.
Investing Consistently: Setting aside most of your income to be invested in instruments that generate passive income, such as stocks, bonds, real estate or maybe you can choose Gold & Bitcoin in your portofolio
Source: GoogleFocusing on Financial Priorities: Having clear long-term goals, such as saving to achieve financial independence.
Investing Consistently: Setting aside most of your income to be invested in instruments that generate passive income, such as stocks, bonds, real estate or maybe you can choose Gold & Bitcoin in your portofolio
design your life for the future, don't just think about eating or buying snacks today.
For those who are currently undergoing this movement, perhaps you can share your journey here and for those who really want to start this movement, you can ask and have a good discussion here.
Why do you want to be richer than Jeff Bezos? Life should be simple. Just know what you are doing and be rich the way life choose for you.
If Google can not give what you ask for, know that AI can not also give you what you will need to do before you can be rich than Jeff Bezos. Only you will follow the plan to be rich and not what you see online.
I totally agree with you! I was seriously money-obsessed before and wanted to make big bucks on YouTube. So, I straight-up asked ChatGPT, and it suggested some methods and blogs for me to check out — like making money by watching videoshttps://www.adspower.com/blog/how-to-earn-money-by-watching-videos-on-youtube. Honestly, it blew my mind because it actually worked! But yeah, I tweaked the methods to suit my own style instead of just copying them, haha!If Google can not give what you ask for, know that AI can not also give you what you will need to do before you can be rich than Jeff Bezos. Only you will follow the plan to be rich and not what you see online.