With the rapidly changing territory of personal finance, if you become familiar with just the basic fundamentals, it’s going to give you some advantage. Assets and liabilities are the two main players in this financial game. Whether you’re a seasoned investor or a financial newbie who doesn’t know one end of the risk spectrum from […]
Slow and steady financial independence may seem contradictory in a culture of immediate satisfaction and fast cures. The past has demonstrated that careful and diligent approach leads to long-term success. The following article will discuss how patience helps achieve financial independence and the numerous areas of personal finance where it is vital. The Foundation: Setting […]
Have you ever stopped to think that it’s the psychology of wealthy people that motivates their habits and lifestyles? Money is not only numeric, but it is about our thoughts and behavior as well. What this means is that our relationships with money are closely linked to our ways of life and how we approach […]
“Most people work just hard enough not to get fired and get paid just enough money not to quit.” – George Carlin In today’s society, the vast majority of people have been sold the idea that you need to go to school, attend college, and get a good job. And that’s great! Except it doesn’t […]
“You become financially free when your passive income exceeds your expenses.” – T. Harv Eker I’m sure you’ve heard the term passive income before. And you might have even asked yourself, what is passive income exactly? Well…passive income is simply money that is made passively! And what does that mean?! Basically, it means that it’s […]
“Good debt is a powerful tool. But bad debt can kill you.” – Robert Kiyosaki For a lot of people today, debt is nothing more than an unavoidable part of life. It could even be how you pay for just about everything from the home you might be living in, to the car you drive […]
“Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” – Anonymous An asset is something that has or provides a certain type of value and that value can come in many different ways. With regards to finances, it’s about monetary value. When […]
A lot of us have been sold the idea that we need to go to school, attend college, get a 9-5 job that we end up working for years until we can (hopefully) save enough money to retire, leaving us to do what we enjoy when we’re old. Who the heck wants to live like […]
What is passive income exactly? Passive income is simply money that is made passively! And what does that mean?! Well…basically, it is money that’s created by doing as little work or the most minimum amount of work possible. Unlike a job where we have to work in order to earn an income, passive income comes […]
The difference between assets and liabilities is simply put in this way, an asset is something which generates an income or said differently, puts money in our pocket and a liability is something that is an expense or takes money from our pocket. In order for us to build wealth, we need to focus and […]