Money Tree

Setting Online Earning Goals–2014 Edition

Last January, I posted that it was important to set goals in any venture. The world of online earning is no different. My post on setting online earning goals was not my most popular post, but I was able to share my goal with the world (or at least those who wanted to know what my goals were). My goal for last year was to earn $5,000 online for 2013. I fell a bit short at just over $4,300, as noted in my final monthly earning report for 2013.

This year, I decided to be a bit more ambitious. Some people might wonder why I would not scale back after failing to meet my ultimate goal. I would argue that it is important to attempt to exceed previous goals. Therefore, I decided that a good number for this year would be $450 per month. Should I be able to keep up that pace over the course of the year, I would earn $5400 for 2014. That’s almost enough to max out a Roth IRA for the year for those who have their finances in order.

I’ll detail how I did this in another post later this month, but it appears that I exceeded $500 in earnings in January. If I could keep this amount up, I would be able to post more than $6,000 in online earnings for the year, and this would greatly exceed my goal. I’m still convinced that the way to achieve great things in any venture is to set achievable goals that can incrementally go higher and higher. That’s the reason for my higher goal this year. If I don’t make it, I can at least say that I went down swinging.

What are your online earning goals for 2014? Failing to set one will probably mean that you won’t make as much as you might hope. It’s a good idea to break the annual goal into monthly, or even weekly goals. My yearly goal of $5,400 will be just over $100 per week. Good luck as you try to build your wealth through online earning this year.

Money Tree

Setting Online Earning Goals

A common refrain that people will hear is that those who fail to plan, plan to fail. There is a great deal of wisdom in this statement. Many people want lots of stuff, a great job, or money to sock away in retirement. The vast majority fail to get to where they want to be. Why? In a large number of cases, the reason why people do not achieve their goals is because they forget to set goals. Those who want to earn money in pajamas while working online are no different. Here are some tips toward setting online earning goals.

1. Learn about earning money online

The first and probably most important online earning goal that many people forget when actually trying to earn money online is that of learning about the process. Robert Kiyosaki, in his best-selling book Rich Dad, Poor Dad, encourages people to work to learn, not to earn. Knowing how to go about earning money is a very important component of earning money. Read extensively. I did this to avoid some of the more common scams. The online earning opportunities that I share on this site, though they are definitely not be get-rich-quick schemes, are methods that I have used myself with varying degrees of success. I always check a number of mediums before trying a new money-making method. This way, I avoid losing money and can concentrate on making additional income online.

2. Start making money online

Reading and learning about making money online will not get anyone anywhere important. Knowledge is useless unless is is put into practice. I would suggest starting one method in your spare time to start earning a few extra bucks. Of course, those who are unemployed or underemployed may have more spare time to start working on making more money. You can sign up for CashCrate, Swagbucks, or any of the other great sites that allow people to make money without spending a dime. You might also want to sign up to get a cash bonus from a bank that wants to earn your business. Once you start earning a bit of money and see the amount of time involved, you can then start to set tangible goals.

$500 bill with McKinley
A $500 bill, public domain via Wikimedia Commons

3. Set online earning goals that are attainable

Anyone can set a goal of making $1 million in a year. 99.9999 percent of these people will quickly become frustrated when they make a mere $10 in their first day of online work. They will get even more frustrated when they make less than this amount. There are people who make $1 million online, buy they no doubt started small in most instances. It is important when setting online earning goals that you set goals that are attainable. A good goal for this year might be to make $100 per month to supplement your bills, to take a vacation, or to save in a retirement account. You might even choose to set a very modest goal of a dollar a day. Few people truly understand the power of a dollar.  Most people will be able to achieve these amount with a bit of work. As you then learn more, you can start to make more in less time. This relatively easy online earning goal can keep you from getting discouraged and giving up on earning money online.

4. Re-assess goals annually

It is still relatively early in the year, so it is still possible to set concrete goals that will help your and/or your family’s budget. If you have a short-term online earning goal of $100 per month, you should check how you did at the end of the year. Perhaps you achieved more than you thought that you would. Perhaps you earned less. Successes should encourage us to attempt to achieve more. At this point, it might be good to set a long-term goal for the next five years. This does not mean that annual online earnings goals become less important. These are the stepping stones on the road map that will get to the ultimate destination.

I personally set a goal of making $5,000 in my part-time online endeavors back in 2013. I didn’t reach it. What did I do, I set it higher for the next year. What are some online earning goals that you have set for yourself?