Showing posts with label Personal Finance. Show all posts
Showing posts with label Personal Finance. Show all posts

Tuesday, 9 September 2014

3 Passive Income Streams

Passive Income Streams: 3 Moneymaking Ideas You Could Bank On

by: Michael Lee


These days, passive income streams can bring just as much money to the table as regular ones. Gone are the days when you have to show up for work every morning just to earn good money. The world has since changed.


Interested in passive income streams? Here are some great ideas for you…


Passive Income Stream # 1: Rental Business


Houses are so expensive these days and a person can only make so much money in a year. This is why a lot of people are opting to rent instead of buying their own home. This is where you come in.


If you have a spare room or an extra apartment, you can easily rent them out. Money comes in regularly and there’s no shortage of willing tenants. Of course, homes aren’t the only things you can rent out.


These days, cars and even clothes and accessories are being put on the market. You might be surprised at how much a person is willing to fork out for a night with your designer bag. The idea seems a bit ridiculous; but for others, it’s better to rent a bag for a night and have a wonderful experience than to spend an enormous amount of money for something so trivial.


Passive Income Stream # 2: Franchising


In franchising, you don’t need to build your brand or spend countless hours on setting up a system anymore. It’s all given to you in one complete package. All you have to do is maintain it. Naturally, you have to be selective with the brand you franchise.


Don’t just jump at the chance to franchise any old brand. You still need to figure out whether the brand you’re looking at will sell or not. It can be a gamble; but then again, the best things in life are usually worth the risk.


Since a complete system is already handed to you on a silver platter, you can hire reliable and trustworthy people to keep it in operation. Which brings us to the next subject…


Passive Income Stream # 3: Get Others To Do The Work For You.


It’s almost always a smart idea to get someone else to do the job for you. For example, you’re assigned to write several articles on planting. Why don’t you find someone who can do the job just as well for a smaller amount of money.


At the end of the day, you give your writer his or her due while you glean the profits left over. It’s easy money. Of course, you have to make sure that whoever it is you hire does a good job; or else, it will all fall on you.


Passive income streams have become much more reliable now. However, it is advised that you consider all your options before giving up your regular job.


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Friday, 15 August 2014

Lets Get Rich Together

by: Brent Wilkinson


There is plenty to go around, lets spread it out amongst us


Are you like me and sick of all these financial experts telling you that to get rich you need to live below your means? That sucks! I can’t even live up to my means. So what does this mean? I guess it means to me that I will never be rich. Well guess what, I have found out how to get rich.


I read all the advice columns on msn.com, yahoo.com, I have just started to read google stuff, but I can guess what they have to say…live below your means. Let me sum up what every standard become rich article says.


1. Live below your means (spend less than you make)

2. Max out your 401 K, or pension plan at work

3. Contribute to a Roth IRA

4. Create a budget and stick to it

5. Start early (oops too late for me I guess)

6. Take Automatic deductions for savings or long term investments

7. Invest now and don’t touch it until you are ready to retire

8. Invest in Mutual Funds

9. Spread your investments evenly over High, Medium, and Low risk stocks

10. Be Patient

BORING!!!!!!!!!!!!!!!!!!!!!


For me I guess that advice is to late, to rigid, and to patient. I want to be rich now. I am in my early 30’s, I put in my time, and I am ready to retire now (that would be sarcastic). I still have lots of energy, I want to see the world, and I don’t want to watch the world go buy through my little window on the third floor (that is the serious statement).


So I am changing, and here is how:


Lets first decide what rich is. I am not talking Bill Gates rich. I don’t want to have to work that hard. It would be nice to afford anything…but I don’t want that, I just want to be wealthy. Robert Kiyosaki defined wealthy as how long you can live in your present condition without working. I define it as not having to go into work. That is all I ask. It is not that I am lazy. I am willing to work for what I want, I just have better things to do than to work for other people.


So how do we do it?


1. DON’T WORK. At least don’t work for someone else. It is ok to have a job, we don’t want you to quit, but who are you working for. Are you working for your boss or for you? Work for yourself. The only one who is important is you. That sounds harsh but it is true. You can’t make anyone happy except for yourself. If you are happy then the people around you will be happy. Try it next time you will see. Look at the person next to you. Are they happy or grumpy? How does their mood make you feel? Work for yourself; make yourself happy first, then you can affect others to be happy themselves.


2. Do what you love. It may sound like you can’t make money this way, but that is the next step. Bill Gates, Oprah, Donald Trump, none of them work for money. They all simply like what they are doing, and in doing so they have become rich. I am not saying go out and play golf all day, that won’t make you rich unless you are Tiger Woods. But sit down (without the TV ) and concentrate, meditate, contemplate, whatevertate, and it will come to you. It may seem a little strange but coming soon is another e-book that we are writing that will describe that process. Whatever the case you will soon come up with a solution. Something that you like, that will make you money. For me it is teaching. Of course teachers do not make a lot of money, at least not enough to live on the beach somewhere, but with some creativity, I have found ways that will make me money. The site that this e-book is on is one way. Do what you love.


3. DO SOMETHING NOW. If swearing is offensive to you don’t click on the link. But they are right. Get off your butt and quit contemplating on what could be and do something! Even if it is the wrong thing you are getting ahead. Edison said after inventing the light bulb that he didn’t really make any mistakes, he just found 10,000 ways not to do it. There really is not much else to say. DO SOMETHING NOW!


4. Don’t be afraid to fail. This is the hardest one and goes along with #3. Don’t be afraid to make some mistakes, they will happen. Very rarely does anyone do everything right the first time and become successful. The ones that become successful are the ones who have made mistakes learned from them and pushed on. Usually success is right behind the last mistake. Push on and keep going. It will happen. And to help you out, you have to have the mentality that you are going to do it. You have to know like you know like you know that you are going to be rich and wealthy. It will happen.


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Tuesday, 12 August 2014

Tips for Saving your Money

Tips for Saving Money Every Day

by: Trent B.




Many people aren’t aware of all the ways money slips through their fingers, and they’re not sure why they never seem to have enough. Paying attention to your spending habits and making some changes where necessary can save you a bundle of money every month. With the tips in this article you will be able to get your finances in order and save money too.


The amount of money you can save by making your own lunches and taking them to work each day is staggering. When you take in your own lunches every day–made from leftovers or sandwich fixings, you will be spending much less than you would at even the least expensive restaurants and diners. Healthy eating is easier as well when you make your own lunches since most take out has extra calories and lots of fat and salt. Eating out also takes up a lot of time which can be a problem for those with tight schedules. Making lunch for yourself is an easy way to save money, and over the weeks and months this can turn into quite a few dollars.


Learn to shop methodically and not on a whim. The absolute worst time to buy holiday gifts, for example, is just before the holidays. You should wait for the holidays to be over when you wait for things to go on sale.


It’s a lot less stressful to shop like this because you’ll avoid all of the crowds and that feeling that you have to buy something right away. Similarly, winter and summer clothing is most expensive right before those seasons have started. Plan ahead and buy things both as gifts and for yourself when they are the cheapest. Stores typically charge more for products when everybody wants to buy them so if you do some advance planning, you’ll get the same items for much less.


The price of food is always going up, even faster than most peoples’ incomes. If you want to respect your budget, you need to figure out how to save money at the store.


Frozen foods at the Real Canadian Superstore i...

Frozen foods at the Real Canadian Superstore in Winkler, Manitoba (Photo credit: Wikipedia)



Most of the time people shop for groceries when they need the and that means that they end up paying money depending on what the store wants to charge. Buying lots of groceries when they go on sale is a great way to save money at the store. You obviously can’t do this with items that perish like dairy, meat and fresh produce but you can do it with everything else like canned goods, frozen foods, etc. Look for clearance sales and similar specials to help you stock your pantry and you will quickly see that you are spending much less on groceries than you used to.


When you start to think creatively, you will see lots of ways that you can save money and your savings will start to climb. For the most part, people spend a lot more than they absolutely have to on things like food, entertainment and shopping because they don’t take the time to search out more reasonably priced alternatives. In addition to helping you save money, the tips in this article will help you train your brain to be more frugal as well.


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