Finance's Archives

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 …

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 …

The absolute worst part of debt is the stress that it can add to your life. Constant payments to manage your debt can have affects far beyond just your finances. It makes sense that so many people dream of being debt free. Of course, turning that dream into a reality is easier said than done. There is over $13 trillion in household debt in America. This can seem insurmountable but if you take things one step at a time, you can be debt free sooner than you ever imagined. 1.  Build a Complete Household Budget Taking charge of your debt first requires you to build a complete financial picture. Going through the process of budgeting is a revealing process for many. However, less than half of Americans actually create a …