Where does money come from? This is a question that is usually not answered the correct way. Many people can only think of a few money sources. The average person will only say that a job is a good money source.
My mentor has taught me many things when it comes to money. He always talks about the mindset, cash flow, and debts. He always has ideas on how to make money or how to create it. I have here one of his lessons on where does money come from.
Where Does Money Come From?
11 Money Sources
1. A Job
This is the average person’s initial money source. Besides having a traditional paycheck, there are other ways to get more money in that check:
- Taxes withheld (will explain in another post).
2. Better management of money
- Manage your spending by sticking with a spending plan
- Manage your credit and debt responsibly
- See an accountant for tax planning strategies
3. Time management
This is very important if you’re trying to create more money. You manage your time, you manage your life. It also relieves stress and increases productivity.
You need someone in your life that is already where you want to be in life. They should push you and stretch you.
5. Solving problems
You can create more money by solving financial problems. Many problems can be solved by just simply thinking about multiple solutions. My mentor always says, “Every problem has multiple solutions.”
6. Home Based Businesses
This is a big subject in America. Having a home based business will help lots of people to get out of the financial hole that they are in.
To learn how to start you own home based business, CLICK HERE to start your business!
I hear these quotes a lot:
“If you hang around 4 millionaires, you will be the 5th one.”
“If you hang around 4 broke people, you will be the 5th one!”
Relationships are important. You should be with more like minded people or with people who are already where you want to be. Like I said before, they will stretch you. Accountability goes a long way.
8. Your Passion
“Perfected Passion Produces Prosperity!”
What do you love doing so much that you would do it for free? Turn your passion into a business.
These can come from many places. Money is only an idea. Facebook was an idea. Microsoft, Apple, and Twitter were ideas. That simple thing you’re thinking about could be worth $1 billion.
Assets are things that make you money with little or none of your involvement. It could be books, music, real estate, stocks, bonds, etc. Assets are a big money maker, especially if you can find them on sale.
This can also be an asset that you build to sell. You could also buy franchises.
These money sources are only summarized. If you’re looking for a path to take when it comes to solving money problems or if you are looking to connect with a community of like-minded entrepreneurs. CLICK HERE to see what my team is all about!
Jay The Analyst
Work With Me – (Click Here)
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