What to Do If You Are Desperate to Cut Expenses and Start Making Money Online

Are you desperate to start making money online? To fix your financial situation? To get into a place of financial security? The idea of this conversation is to talk about what to do if you’re desperate.

This seems to be a really popular topic online. If you look on the Warrior Forum, there’s a massive post called “What to do if you’re desperate” that’s still popular, that hundreds of thousands of people have looked at and thousands of people have posted it. I hope what I have to share with you about what to do if you’re desperate proves helpful in seeing the results you want when it comes to solving problems of money and finances. I know about being desperate myself. I’ve been desperate several times in my life.

The first thing to decide, if you’re going to dive deeper into this, is – are you desperate or not? I’ve been frustrated a lot in my life. But frustrated and desperate are different, and the way I see they’re different is: if you’re frustrated, you’re feeling like you are surrounded in negative emotions. You don’t like where you are at. But usually if you’re frustrated, you’re not willing to actually change anything, or change hardly anything, to get out of where you’re at. You’re frustrated, but at the end of the day, you’re going to go to bed and wake up the next day and do it all over again and somehow hope for it to come out differently. If you’re desperate – this is my own experience and I don’t know if it’s exactly right for you, but in my experience – when I’ve been desperate, I’m willing to do anything to get out of that situation.

I’ll describe my best example I can think of recently, this year at least, of being desperate. I was lying in bed, again, for probably the thousandth hangover of my life, and I said, “God, I will do anything to not do this again.” I had tried to quit drinking at least ten times in my life and failed at it every time. Sometimes I got as long as several months, but I would always go back to it.

I also have been financially desperate around the same time. I looked at my business and I said I would do anything to get out of this hole – and the key phrase for me was “do anything.” It doesn’t mean I would necessarily HAVE to do anything. For example, I didn’t mean to say that I expected I would have to kill someone to stop drinking and get out of my financial problems. What I’m saying is, I was willing to do anything that seemed right, or I was willing to do anything without regard to how I felt about giving it a try. Theoretically, you could say, “Well, does that mean you’re going to go kill someone?” That wouldn’t seem right, but that includes anything. When you’re willing to do anything, that means anything, and that means removing all of my personal objections and looking at something with a fresh point of view and saying, “Wow, why don’t I give that a try?”

For drinking, it was really easy to understand how this worked. When I asked God, and I said, “I will do anything to not keep doing this,” – and I don’t remember doing that before. Oddly enough, all the times I’d been frustrated, all the times I’d tried to quit, I don’t ever remember praying to God and saying “I will do ANYTHING, and by anything, I mean anything you ask, anything you suggest, anything that will work.” Immediately after that, I realized I should probably go to AA and maybe I should see a shrink. So I went to AA, and that’s been working fantastically. But prior to that moment when I was desperate enough to say, “I’ll do anything,” I never took the idea of going to AA seriously. I was always totally against it. I said, “What a crock of shit. They’re a bunch of losers there.” But that shows, to me, what I think of as being desperate. When you’re willing to do anything, you’re willing to open your eyes to what you maybe should do. You’re willing to admit and get help with your problems.

I did that also with finances. After growing my business rapidly, making more money than I had made in my entire life in one year, the next year it came crashing down as I had tried to manage that growth successfully. And I had gone into a place of financial desperation where I had the same struggle: “I’ll do anything to get out of this mess, to have more financial security.” And what did I end up doing? I took some loans. I ended up getting a bigger project. I had been opposed to taking loans, and said, “I don’t want to take a credit card consolidation loan. That sucks. I don’t want to pick up any more debt.”

When I was desperate, I realized I needed to do anything and anything included taking a new loan. So I took two loans. I took two loans covering more than half of my credit card bills and then I paid those credit cards off. At the same time, I also got a big, new opportunity. On top of that, I then took the opportunity to remake my business so that I wouldn’t be in this position again. I also found a new passive income source out of one I just hadn’t been paying much attention to. So my desperation was a huge opportunity for me.

And now, if you can figure out if you are desperate, now that you’ve had enough of my story to figure out – are you really desperate? Will you do anything to get into a better place? If you are, I will walk you through a lot of things that can work for you. I’m not saying which of any of these you should do. I will show you a lot of things you can do, and what you can do is try some of them or all of them. When you’re desperate, you’re at a key turning point. Either you’re going to use this opportunity to get it right, or you’re going to totally fall apart. Desperation is an awesome thing, or it can be where you see the end of the line.

I have a group called “My Online Success Group,” and the idea is we meet together to encourage each other’s success. We meet every week and we share about what we’re doing. Most of us have goals like “I want to make more money online.” Most of us have jobs already, but some of us want to make a better life working full-time online and want to find a good professional community to communicate in. But a few people who have applied to the group are desperate earn some money before their life falls apart. Now here’s the interesting thing: three of these twenty or so responses I’ve gotten have answered “I’m desperate to earn some money before my life falls apart.” But two out of three of them said “I can’t afford to spend any money,” whereas the other person says “I make time for what I want to do and I spend money to make money.”

Desperation is a place where you need to be open to doing whatever it takes, and that might involve spending a little bit of money at least. The idea that you can spend zero is very inhibiting, and it’s not a truth either. The fact is, you have money to spend. I guarantee you have money to spend, and you are spending it on things. I know one of the things that helped go with my financial desperation was matching that with my drinking desperation and both of them got better. At the same time, I was desperate financially; I was willing to spend anything on drinking. I would dump any amount of money into what it cost to go to the liquor store without even thinking about it. In the meantime, I’m trying to nickel and dime some of the other expenses while I’m bleeding hundreds of dollars out on drinking.

Almost everyone, I guarantee you, that’s answered that says I can’t afford to spend any money is doing this exact thing, and not necessarily with drinking but with something – with going out to eat, with a hobby, with shopping. Everyone can afford or should be able to afford spending money to make money. I will show you some examples of things that you may or may not want to spend money on, such as any kind of affiliate program that you have to pay for. I’ll show you some mistakes I’ve made making money online.

Here’s one – buying into an MLM affiliate independent business owner Make Money Online system. That’s a good thing to not be able to spend money on. The problem is, most things you might want to spend money on can be good to at least try. Almost anything you’re going to use to make money online will require you to spend money at some point. And if you have the mindset that you are willing to spend money to make money, then you’re likely to not miss out on something over a little bit of money.

For example, in the last week and a half since starting my group, I’ve had 20 people apply to my group. These are people trying to be successful online, trying to work full-time online, to grow their business online, and who want to make hundreds of thousands of dollars online. This group is a place where people interact with me in an intimate setting where we get to know each other. Our group members so far love it, and we share and it’s just amazing. The cost of it goes up for each member, so the cost is around $20 a week right now. That’s not a lot of money, unless you’re in one of the poorer sections of the world. And even if you’re only making a couple hundred dollars a year, you could learn a few things that could help you make money online and you could already have access to the Internet, even then it might be worth it. In the developed world, $20 a week is nothing. That is nothing, and yet it’s the mindset that “I can’t afford to spend any money, regardless of what it is.”

The problem with that is, you miss out on good opportunities like being a part of my group, where our group members are all on the same wavelength, and we are doing fantastic things learning and sharing with each other. That’s really exciting. For $20 a week, that is exceptional value. That’s worth at least $10,000 a year.

There are other things like that, too. For example, having a domain name of your own, like JerryBanfield.com, is $10 or less a year – absolutely essential for being successful online. You can make money without a domain. I sold a Facebook Like package, one of the first sales I’d had, for $700 mostly profit with no website. That is possible, but I sold a hell of a lot more when I did have a website. The thing is, if you’re willing to spend money to make money, that’s a lot different of a mindset. If you’re in desperation, anything includes spending money.

It includes taking time to apply for a loan. It includes taking risks. If you’re desperate, you’re in the position to take risks. When I walked into my AA meeting a few months ago, which was a risk. I walked in, thinking “My God, what am I doing in here with these people?” As soon as the meeting started, I realized – “Oh, these are my people so I’m in the right place.” But going there required desperation. It required putting aside any of my thoughts on what I ought to do or what I should do.