This is the continuation of FRUGALITY: The Easiest Way to Earn Money Part 1
Franchising, Public Utility Vehicle Business
– A P5,000 to P50,000 capital is needed to start a small food stall or a small enterprise in order for you to procure the necessary equipments, services, man power and other stuffs needed to kick off.
For owning a public utility vehicle which can be a tricycle, jeepney, taxi or a van – a P200,000 to a million pesos capital is required to start off your business. You also have to consider the cost of your license and the franchise fee, or ‘prangkisa’ in vernacular, to be able to join in the roster of a Transport association.
This does not include the pressures and conflicts you’ll have to face just to finally receive that much coveted “extra income”.
After reading the above procedures, with all its risks and challenges, can we agree that living frugally is indeed the easiest way to earn extra money?
By simply saying ‘No’ to unnecessary expenses or adopting a no-frills lifestyle, we can certainly add a significant portion of income to our over-all savings. You can immediately gain more cash as you had decided not to spend it on doodads.
My point here is that, it takes a lot of steps, experience and even determination to acquire an additional source income whether you’re in the office or out there in the market. That is why, we should first start by simply being frugal and slowly take the steps to acquire those assets.
Please don’t think that I’m here to discourage you to start your own business or to invest in any financial products. Actually, it’s much better if you do those things. I am only emphasizing the fact that acquiring a secondary source of income is not as easy as we think. This will also serve as a reminder about the value of frugality.
Just as this old adage goes:
A penny saved is a penny earned.