No matter what our financial situation is, knowing and recognizing the difference between assets and liabilities plays a crucial part for creating wealth in our journey to financial freedom. Acquiring assets, whether we purchase or create them, is not only about how we invest our money, but also how we invest our time. We don’t…and […]
Did you ever stop to think that no matter how much money you’re paid your income is limited by the number of hours you can work? We all have the same 24 hours in a day and there is only so much of your time that you can dedicate to working for pay. That’s why […]
The idea of passive income can be a tricky concept to grasp. The most important thing to realize is that passive income doesn’t just happen. It’s created! Passive income can be created from a number of different sources. The most common places include, but are not limited to, the stock market, business, real estate and […]
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 and even down to the small, day to day purchases like food, gas and that […]
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 you think about investing in assets and getting a return on those assets, I believe few people ever think of themselves in that way. […]
As important as it is to your financial health, sometimes the difference between assets and liabilities is obvious and sometimes it’s not. What may at first be a liability can become an asset or vise-versa. For example, when you buy a home, that home is a liability because unless you buy it with cash, the […]
There are two opposing forces in finance called assets and liabilities. 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 your pocket. And a liability is something which is an expense or takes money out of your pocket. That’s […]
Whatever your financial situation is, having the knowledge to recognize the difference between assets and liabilities plays a crucial part for creating wealth in your journey to financial freedom. It’s a basic understanding that you need to have for dealing with your finances. Without it you just end up spending your money haphazardly. Spending your […]
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 earned 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 […]