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 […]
People that are wealthy have multiple income streams, meaning they earn money by creating additional sources of income. In fact, the average millionaire is known to have 7 different income streams. Aside from making more money, the reason for having more than one source of income is to reduce the impact to our cash flow […]
How many times do we feel we do not have what we want in our life? We find that it’s in lack, and we feel our existence for it lacks. How often do we find ourselves thinking about money and for many of us, the scarcity of it? Based on the first question, I would […]
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 […]
We set up our budget, we find ways and areas to reduce our expenses, we get our spending under control, we live below our means, we find ways to increase our income, we get our debt snowball rolling, we learn to pay ourselves first to save for our emergency fund and of course…..save to invest! […]
For most of us, caring for our finances is not an easy task! Easy availability of credit, high interest rates and a lack of understanding basic financial principals causing us to fall into bad money habits, which end up leaving the majority of us living deep in debt and way beyond our means. To better […]
Consumer debt is a killer when it comes to savings goals and overall financial well being! Whether we’re saving for emergency funds or investing funds or whatever fund we’re trying to set goals for, consumer debt will hold us down and must be greatly reduced if not completely eliminated in order to achieve financial freedom. […]