We’ve all had conversations concerning how we can get away from the cyclical nature of a 9 to 5 job. And in those conversations surrounding financial freedom, we have most likely heard of the term ‘passive income’. So what exactly is passive income? Passive income is usually defined as money that is earned without putting in a lot of effort. This definition however, can seem a tad misleading, since a lot of work is definitely put into creating passive sources of income. Rehashing this definition, we can define passive income as cash flow that is generated without a huge amount of direct intervention. Reasons to Invest in Real Estate Investing in real estate, or property investment as it’s more commonly known nowadays, is a good way to create passive income …
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How To Prepare Yourself For Your Next Career Move
Perhaps you’re sick of your current position and you are desperate for a change. Or… Perhaps you have been a stay-at-home mom for a while, and you are ready to get back into the world of work. Or… You are looking for a career choice that will best reflect your lifestyle. Or… You have finally decided to pursue your dream job after wasting your time in jobs that didn’t really suit you. Whatever the reason, you have decided on a career move. If this is you, then we wish you the best of luck. However, once you have worked out where you want to be next, there are a few things you need to do in preparation. Get the qualifications needed. Not every job needs a specific qualification, but if …
How to Chase Down Your Own Debt
You wouldn’t set out to climb a mountain without some preparation, would you? To make it safely to the summit and back down, you need a plan: a route, food, water and the right equipment. You also need to know ahead of time the size of the mountain, so you know what to expect heading into your climb; otherwise, you might run out of energy halfway through. Well, think of chasing down your own debt as you would climbing a mountain. Just like when you’re standing at the base of the incline staring up, it can be very daunting to face down your debt. But it’s much less intimidating if you have a plan and the right tools with you on the journey. Overcome Debt Denial and Shame As simple …
Cost Cutting Tips To Use While Launching a New Business
Starting a new business means you are about to join the booming network of SME. SMEs, or small and medium enterprise,s greatly contributes to society in numerous ways. According to a study conducted by the OECD, SMEs contribute up to 45% of employment and 33% of GDP in emerging economies. Tips to Cut Business Costs But small businesses, more than the international conglomerates they may hope to become, are very susceptible to financial problems early on. According to the American Bankruptcy Institute, more than 150 businesses file for commercial bankruptcy each day. One ultimate problem faced by these businesses is the lack of revenue, and rising operational costs. Cutting expenses is a way to battle out the cost and change the tide of your cash flow. It largely depends on …
