Failing to celebrate small wins is a recipe for burnout.
This is especially true if you have ambitious money goals like weaning yourself off the comfort and security of a bi-weekly paycheck or building a financial legacy to pass down to your kids.
Goals like this can take years, decades, or even your entire life to achieve. If the only time you acknowledge and celebrate what you’ve accomplished is when you’ve reached “the final destination,” the entire journey (your life) will feel like a grind.
When you buy something personal, you do it without caring that it loses its value over time because it is something you will use every day and take advantage of, such as a television, computer, or bed. Treating your investment the same way can help you have something valuable even if the price drop.
The good thing is that you can apply this rule to almost every investment.
When you buy things knowing they can serve you for many purposes, you stop caring about capital gains in the short term and protect yourself and your money for the recession periods.
There are six main types of income sources, from active to passive. Knowing them and working to have at least three of them can help you have more stability in managing your money. These are:
1. Earned income: The money you make working on your job or business.
2. Profit income: The money you make marketing a product or service. They could be a course, seminar, book, any type of product, etc.
3. Interest income: Money you have saved that makes more money over time.
4. Dividend income: Money you make by owning specific secure stocks that leave you a profit every period.
5. Rental income: Profit you make by renting something (it doesn’t even have to be real estate).
6. Capital gains income: The profits that are realized by selling an investment, such as stocks, bonds, or real estate.
Financial One-Liners: Powerful Money Moves Made Simple
Invest your money as early and often as you can.
Live like you make 40% less than your income.
Make paying off your debt your number one financial priority.
Never get comfortable in your career, and don’t be afraid of change.
Don’t limit yourself to one job or source of income.
Learn about tax laws or hire a tax advisor.
Use the power of negotiation to your advantage.
Build credit, and build it early.
View time as your most valuable resource, not money.
Challenge yourself.
Always have an emergency fund.
Live life, but find cheaper alternatives.
Educate yourself on all areas of personal finance.
Monetize what you love doing.
#wealth #money #wealthbuilding #investment #finanace
#financialfreedom #financetips #propertyinvestment #buyingahome #homebuying #buyersagent #buyersadvocate #propertyconsultant #buyeragentfinder #abodefinder #directhomeselling buyeragentfinder.com.au directhomeselling.com.au abodefinder.com.au
Here are the four questions you should ask yourself before you make any big financial move
1. What phase of your financial life are you in?
2. What are your financial goals?
3. Is this financial decision likely to move you closer to these goals?4. What risks are involved, and how can you withstand the worst-case scenario?#moneymanagement #wealthbuilding #wealthmindset #investment #propertyinvestment #buyeragent #buyeradvocate #propertyconsultant #buyeragentfinder #directhomeselling #abodefinder buyeragentfinder.com.au directhomeselling.com.au abodefinder.com.au
Yes, It’s a Recession. Yes, You Can Make Money. Here’s How…
#1 — Spend time and effort reducing your bills.
#2 — House hack. Buy a house with family or friends.
#3 — Dollar-cost average. It’s the set it, forget it and don’t touch it approach.
#4 — Go all in on your super.
#5 — Create passive income streams.
#6 — Buy a business at a discount.
#7 — Sell your stuff
#8 — Protect your earning power.
#investment #recession #inflation #interestrates #propertyinvestment #buyeragentfinder #directhomeselling #abodefinder buyeragentfinder.com.au directhomeselling.com.au abodefinder.com.au
Historically, some of the most secure investments are found within physical assets. This is important to note since hedging against inflation comes from making the right investments and diversifying your portfolio with assets that will stand the test of time.
Stability is one of the main reasons people build wealth. A steady income means a person will have reliable resources to meet their needs, and building wealth allows one to take care of their family and often secure their legacy.
When economic crises occur, it can be more difficult to rely on economic soundness. Recent inflation has had a damaging impact on many people’s happiness as they continue to watch prices rise.
Building wealth serves as a hedge against inflation.
#inflation #wealthbuilding #wealthmindset #investment #propertyinvestment #buyeragent #buyeragentfinder #directhomeselling buyeragentfinder.com.au directhomeselling.com.au
Purchasing a home is a huge step for anyone. There is a lot to think about before taking the plunge. There is also a lot at stake. That is why it is important to be careful. By hiring a buyer agent, you will be well on your way to making the best decision for yourself and your family.
There are no secrets to getting rich overnight, but some proven systems and advice can help you get smarter with your money and reach wealth over time.
Although many factors make a person a millionaire, I think that mindset is the most important. A privileged life or a lot of money alone won’t get you anywhere if you don’t know how to handle it.
Most people never achieve their money goals because they simply don’t know how money works and believe that a bank can solve all their problems. But that’s exactly what keeps them where they are forever.
5 Big Money Mistakes To Avoid
Assuming big purchases require debt
Buying a $950 house because you were approved for a $950k loan.
Paying too many fees
Use a credit card as a loan.
Not understanding the fundamentals of money.
#wealthbuilding #wealthmindset #investment #propertyinvestment #buyeragentfinder #directhomeselling buyeragentfinder.com.au directhomeselling.com.au #money #moneymatters #mindset #homeloan
For many people, all of the right cards have been handed to them. They earn great money, their housing isn’t expensive, and they have multiple income streams. Yet, they’re constantly struggling financially to make ends meet because they’re living above their means. If you live above your means long enough, you will drive your net worth into the ground.
Getting into debt is easy and fast. Getting out of debt is hard and long.
10 Things You Can Do To Stop Running Out Of Money Every Month
Decrease your housing costs
Create a budget, and follow it
Get rid of the car note
Eliminate expenses
Acquire a new income stream
Decrease the entertainment and recreational costs
Create a budget, and follow it
Throw a large percentage of your money into investments
Eliminate expenses
Quit shopping
Read some books on personal finance
Spend less than you earn
#money #investments #personalfinance #housing #entertainment
#wealthmanagement #wealthmindset #propertyinvestment #buyeragentfinder buyeragentfinder.com.au directhomeselling.com.au
What is wealth?
According to Merriam-Webster, “Wealth” means having an “abundance of valuable material possessions or resources.”
Why build wealth?
The most simple reason to build wealth is to improve your well-being. Like it or not, a person’s happiness is influenced by the amount of money they make.
When people are struggling below the poverty line, an increase in wealth can provide somewhere to live and safety. As people within the next income bracket increase their earnings, they can secure comfort and reliable resources. As income increases, people experience more and more benefits until they achieve full confidence and satisfaction.
#buyeragentfinder buyeragentfinder.com.au #investment #propertyinvestment #realestate directhomeselling.com.au
If you are looking to invest in properties to take advantage of the new property cycle, then you must pay close attention to what we are about to share today with you. Real estate properties have been quite forgiving over the past few years, but many things have changed as we progress and move forward.
You cannot simply buy a property and strategise later because the way people live has changed, and your strategy must adapt well to these changes too. Remember that those who want to invest in property will not buy an asset because it has a lovely door, perfect grass, and a pure white fence. There are lots of factors that homebuyers consider now, especially the younger generation of buyers.
Search on buyeragentfinder.com.au
Check their purchased history last 12 months - numbers of properties and values
Check their reviews
Set up meetings and talk with at least three candidates