Most people spend a lifetime working in their jobs; trading there time for money.
The problem with this situation is that your time is limited, in that you are being paid a salary or hourly wage in exchange for work completed. This means that you are putting a ceiling on your income.
The bottom line is that youâ€™ll never get ahead of your current financial situation working on a straight salary for someone else.
You could change position, your career or even your employer…?
Even if you change your working situation and did find a way to increase your income you will also find a way to enhance your spending, and absorb or use up any percentage increase in your pay.
Parkinson’s Law states that â€œExpenses will always rise in direct proportion to incomeâ€
Think about this as an example. You find way to make more money, and then you get a better car. You have a house, you make more money, and you get a better house. You have clothes, you make more money, and you buy better clothes. In general, as income goes up, expenses almost always go up. Does this sound like you?
Thatâ€™s why a traditional salary or hourly income alone will never really get you significantly ahead of were you are. If you choose to just get paid in exchange for your time, you are pretty much giving up any chance of ever creating a form of wealth or freedom.
Do you worry about and want more Money?
The greatest thing that people are looking for and worry about is money. Even family, health, relationships come after our desire and our greatest need for money.
Even people with good corporate jobs are interested and seeking some sort of a secondary Plan B income opportunity. No one is immune to this need and desire for increased income.
Why do we value money so much?
Did you know that money is a lubricant? If you have money, it allows you to slide through life instead of having to â€œscrape byâ€. Money brings freedom to buy what you want, and freedom to do what you want with your time.
Money allows you to enjoy the finer things in life as well as giving you the opportunity to help others. Most of all, having money allows you not to have to spend your energy worrying about not having money.
Income comes from two forms; working income and passive income.
Lets take a quick look at the difference between working and passive income.
- Working income is the money earned from active work. This includes a paycheck from a day-to-day job, or for an entrepreneur, with the profits or income that come from the business. Working income always requires you to directly invest your own time and labor to earn money.
- Passive income is an income received on a regular basis, with little effort required to maintain it.
Owning your own business has many rewards but it is the ONLY way to create a passive income.
With the right business, you can build today from your own time and effort, you work on commission and get a percentage of revenue allows you to get paid based on YOUR results. But you are working towards building a passive income that will pay you for years to come.
Why not start a home base business?
Now is the time to STOP think about having more money, and do something about it. Are you ready to learn how to take control of your financial future and start investing your time to create that passive income?
Click here to learn more or contact me to discuss your options.
Riverview, New Brunswick