CategoryFinancial

Responsibility Towards Money

Money isn’t evil, money is just money and fortunately but unfortunately we cannot live without it. As much as we may want to deny and fight it, we need it! More importantly, we also really, really want more of it.

So we don’t have to fear money, we simply have to get our heads around it and take control of it in our lives. We can eliminate financial stress and also reduce the impact that money makes in our lives by just being in control of it.

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What is a financial asset?

Your biggest financial assets is not your wealth or what you own that is worth a certain amount of money. 

Real assets are your investments that generate a residual income for you. May it be stocks, income generating property, royalties, patents or a business that is managed for you. They are in contrast to your liabilities. 

Your income is not an asset and neither is your job. A car is not an asset and neither are most of the luxury items that we buy to enrich our lives. In most cases a house is not an asset either unless it generates an income, pays its own taxes and also appreciates in value. 

So start investing in assets that generate income with little or no work at all. Or at least initial work so that you can move forward to acquire more assets that generate more ongoing income for you. 

The rich become richer because they invest in assets that generate income exceeding their expenses giving them leverage. 

Unauthorized Debit Order

I look at my bank statements almost every single day, whether it be via my phone or internet banking on the computer. This morning I found a very suspicious debit order on my bank statement.

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