If you could earn 5% more at work without actually doing more work would you? It’s safe to say that everyone would take a pay increase in a circumstance like this. So now you probably want to know how it can be done. It’s done by buying things for the company of course. Alright, maybe that’s not the answer you are looking for, so let me rephrase the idea. It’s done through reimbursements for the things you buy for the company.
It may seem like an easy question to answer, because you can’t save money unless you earn money first. What I want to discuss is how each one is going to help you more on the road to wealth. To make things a little more complicated, I will start off by saying that the answer to the question is both, but you’ll have to read the full article to see how each one can help you attain the wealth you have always dreamed of.
So far, many of the articles on The Best Money Blog have covered different ways of saving money as well as adopting a proper attitude towards saving money and managing your personal finances, without really venturing into the realm of earning money. Today I want to go over three different types of income (active, passive, and semi-passive), how they all work, and how you can utilize each type to continually increase your net worth.
One of the most eye opening money experiences I have ever had came when I asked myself, “Why doesn’t my paycheck get any bigger from week to week?” I would get paid every Friday and for some reason, I would expect the amount on the check to be different. Not because I felt entitled to more money, but because I was finally realizing that if I continued living the way that I was, I wouldn’t be able to reach my financial goals. It was at that moment that I realized I had to do something drastically different to reach my goal of financial freedom.