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Wealth ThreadOf course you want to be wealthy
But Where do you start?
Small actionable steps
Spend less then you Make
Personal Finance 101
If you are not currently doing this you will never be wealthy!!!
How to do this: Track every dollar in and out
If you need help DM me I will point you in the right direction
Emergency FundLife has a crazy way of helping us learn this lesson
3-6 months of expenses is the standard
Have this amount in a high earning savings account
Personally we use Capital One (1.5% interest)
Make Savings AutomaticHuman error is a real deal - remove yourself from the equation
Making this automatic you will improve your results
Have it done for you - you will see your savings % and Wealth Increase
Multiple Income StreamsThe idea is to always have money coming in
Personally we have:
- 9-5 income
- side hustle income
- investing income
Currently 95% comes from 9-5, we are pushing to change that to 50%
Invest in Cash producing investmentsDividend investing is my choice
This is one option that we have about 20$/month coming in passively.
Looking to grow this to 50$/month
If you need help setting up DM me, I will get you pointed in the right direction
TIMENo one wants to sell you on TIME
If we are honest you know that this will take TIME
The TIME is what makes it enjoyable
You will grow and learn so much
ENJOY the journey
If you love this type of information you will love my ebook on defensive money
"The Child's Gate of Personal Finance" - $5 https://gum.co/RfsMp
"The Child's Gate of Personal Finance" - $5 https://gum.co/RfsMp
