Multiple Streams of Income Never Hurt Anybody
Ladies we all want to learn how we can bring more money into the house! Well, multiple checkbooks/streams of income is the solution.
Although budgeting, saving and credit is important; you CANNOT budget and save your way to wealth! A person’s greatest financial asset is their ability to generate income.
Think about it, if you have no way to generate income, how will you continue to survive? You need Earned (Active) Income and several Unearned (Passive/Residual/Portfolio) Income. Have you heard people say, “I make money in my sleep?” They do this through unearned income. People of wealth generate a substantial amount of their wealth from “unearned income.” This simply means receiving money without “physically or intellectually” working for someone or an entity. They are earning income from work completed in the past or from a financial investment made.
The key to creating and sustaining wealth is your ability to convert your earned income into passive, residual and/or portfolio income. Mastering this skill will allow you to operate in financial freedom and not relying or needing a paycheck from a job. You have the freedom to work because you want to; not because you have to!