Tag: income
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You can change your financial circumstances
We find it hard to believe that we created our financial circumstances. Consequently, we blame others for our financial circumstances. We blame our employers for not paying enough, society for not creating enough opportunities, our families and friends for making too many demands, and the list goes on and on. We make it look like…
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Cash flow: Keep your eye on it
Most of us are not aware of the cash flow pattern around us. Like a worker who takes his usual way to work, he can drive and talk on the phone (if he does not get caught) and buy something on the road, all at the same time. The reason he can pull this stunt…
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How to Become Financially Independent
“To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence” -Jim Rohn Notice that the entire concept of Financial Independence is broken into six different categories that I have listed below.
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Your Money, Your Life
If we stop to consider how we really earn money, we will take greater care of what we do with it the moment money gets into our hands. Our entire lifetime can be expressed in hours literally. Let’s say you life to be 95 before you answer the final curtain call, you would have lived…
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Learn to Pay Yourself first
One of the key reasons for paying ourselves first is that we are worth it. After working long and hard for the money, why give it all away with nothing left for yourself? If you sit down and look at how your income gets spent, hardly anything comes to you. You may feel you bought…
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You Can Turn Your Desire for a Better Life to an Asset
Desiring better things is an expression of the basic human desire for growth. We all want better things. The main challenge is that we often look for a short cut to get it to satisfy our urge for instant gratification. This often leads us to fall into the trap of consuming our seed and expecting…
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Live Above Your Dreams
One of the basic human needs is growth and contribution. If you are not growing as a person, something starts to die on the inside of you. I was thinking back to some of the goals I set for myself when I just started my journey to financial freedom back in 2003. I noticed that…
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The Problem With Cheap
The problem with cheap is not the price tag itself, but the underlying mentality that drives the decision to always head for the bottom of the barrel – Usiere Uko We all love cheap things. We love to buy things on sale. We actually save money by going for the cheaper option, if the quality…
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Income Streams: Thinking Like a Farmer
The average employee receives his salary at the end of the month. He goes ahead to spend it, and typically in the next month (or before then), all the money is gone with nothing saved. He is not enthusiastic about the coming month because the same scenario will play out. The common expression is that…
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About Assets and Liabilities 2
These definitions are within the context of cash flow. A good investor invests for both income and capital gain. When you are getting income from the asset, you will not be under pressure to sell, and if you decide to sell, you can hold back if the market is down, as you do not really…