You can focus on making more money or you can focus on spending less. Beyond that, there really aren’t many more options to put more cash in your bank account. The latter (playing financial defense), is the process of finding inefficiencies in your spending, reducing the amount of unnecessary spending, and keeping your cost of [...]
With all of these blogs, books, radio broadcasts, magazines and so forth, personal finance sure seems complicated. There’s so much to manage and so much to do that it can be overwhelming and seem like a full-time job. It doesn’t need to be though. I for one like to keep my life simple and do [...]
Got money to burn and wondering how to spend it? Maybe it’s $10,000, $20,000 or just $500. There are obvious smart things you can do with your money or you could just enjoy it and get some self satisfaction out of it. If you’ve recently looked at your quarterly investment reports, you might be well [...]
We all live busy lives, but think about the amount of time you spend that could be channeled for some quick money making. In some cases you don’t even have to give up your TV time when you work on the couch. If you just put the Wii controller down for an hour a day, [...]
Just as you should diversify your investment portfolio in order to spread your risk, having one source of income is a liability. While your personal skills, networks and qualifications are the real asset, at any moment your main source of income could disappear. As an employee, like most people are, you are at-will. That means [...]
Any time an investment, business, or strategy is being evaluated, one of the elements to consider is the velocity of money. This is a methodology that many real estate investors use to determine whether or not an investment property is worth their time or not, but it applies in virtually any wealth building strategy. The [...]
Most of us don’t have the luxury of becoming rich by chance or because wealth was handed to us. That’s okay. Most wealthy people weren’t either. So how do we make sure we become wealthy? The only sure way to become rich is to do it the hard way. That is, to create our own [...]
Any time someone talks about a way to make a boat load of money, it will probably at least make you stop and think. Cash gifting programs are one of those things that to me sounds like you want no association with. Please correct me if I’m wrong, but my interpretation of cash gifting is [...]
Calculating net worth is as simple as taking your assets and subtracting your liabilities. The number you have left over is the total amount of money you are worth today. The tricky part is correctly identifying your assets and liabilities. Your home, for example, can be both an asset and a liability. Assets are those [...]
Earlier in How to Become a Millionaire – 3 Ways to Choose From, we talked about those that join the fast track to building wealth by creating systems that have no income cap. In other words, this group of people are capable of generating millions of dollars – not in a lifetime, but in a [...]
