Have you ever heard the phrase, “If you can make a thousand dollars, then you can make a million”? Does this phrase make any sense to you? For a long time, I thought it made sense to me, but I didn’t really grasp the concept. This is the whole notion between earned income and passive income.
This is the type of income that we are all most accustomed to. We head to our place of employment, we clock in for eight hours, and then we leave. We are paid based on the time we put in, regardless of the results we achieve. Sure, some of us are paid more than others, but if we didn’t show up to work for a month, there’s no doubt that the paychecks would stop coming in.
This type of income is a little hazy for most of us. We’ve heard
Continue reading Passive Income vs. Earned Income
I was fresh out of college, earning a mere $16 an hour with over $20k in debt. My income paid for the rent, some food, and the minimum payment on my debt. This was not the life I was dreaming of.
For many students, it is almost assumed that life will be rosy and easy after college. Companies will almost seek you out just because you have that piece of paper. The average salary seems to be about $50k and the good life begins. For many, this is just not the case. I have seen many of my friends apply for jobs all over the U.S. with no luck of landing any of them, which inevitably forces them to go back to work at their high school or college job. This is often in retail or the restaurant industry, and it is there that they feel stuck for life. Wages
Continue reading When I First Made an Extra Grand Per Month
We’ve all been there. Your money is so tight, there may not be enough to even meet basic expenses.
A grand per month. That’s all you need to meet your budget shortfall and get a little breathing room. Just a grand per month.
You hit upon a good business idea, and slowly, you start making money. Perhaps you don’t make a grand per month right away, but eventually you do.
Congratulations on your success. However, don’t forget to take a little time out of your busy day each day for self-improvement.
Improve Yourself for Free with the Public Library
Go to the library. Take the time to learn how others grow their wealth and keep it.
There are plenty of books that are good starting points. Consider The Millionaire Next Door by Thomas J. Stanley and William D. Danko. Reading biographies of frugal millionaires and billionaires such as Fredrick Meijer,
Continue reading Learn Secrets of the Wealthy to Keep Your Financial Edge
Is life getting you down right now? Do you wake up in the morning and just lay there, wondering why you really need to go through the same dull routine again? You know, you might feel like you’re the only person that’s going through what you’re going through, but to be completely blunt, you aren’t special in this. There are thousands, maybe even millions of people that are facing the same challenges as you each day. Some handle life’s challenges better than others, but those that face their challenges head on and create opportunities are the ones that truly make a name for themselves. I challenge you to be one of these people.
If your life hasn’t been the best lately, I can definitely relate. I am only 27 years old, but I know what it’s like to love someone, vow to be by their side through better
Continue reading Make Your Challenge an Opportunity