Wealth Tips with Tiff
Typicality I share my wealth tips on Wednesday Wealth Tips with Tiff, my higher self is screaming at me to share these with you today. So here we go!
Gaining wealth consistency is not a one lane highway. To have wealth that continues to grow requires interstates, highways, freeways, and even toll roads. It’s important to not put all of your eggs in one basket. Meaning all of your income generating shouldn’t just come from your primary job. There’s only one of you (if there’s more than one of you I’m jealous), and only about 8-12 work hours in a day that you can execute. So if you stick with your job being your primary source of income, then you will only increase your wealth when and if you get a raise or a bonus check. NOT A WEALTH GENERATING POA (plan of action).
Since there is only one of you, to accelerate your financial growth, you will need to create a passive income interstate, a residual income road, and a savings strategy. It may sound overwhelming, so I suggest baby steps.
Start with one interstate, one road, and a simple savings startedgy. Here’s a simple example of what my money roadmap looked like initially 👇:
Primary Income came from my Marketing/PR/Social Media firm. My passive income (meaning how I made money when I wasn’t actively engaged-while I slept) came from investing in mutual bods (though a financial adviser) and stocks. My residual income (money you earn long after your initial effort) came from network marketing high end skin care products. So skin care systems I sold to people who regularly refilled their order monthly or quarterly, without me having to “re-sell” them the products. Not all network marketing companies pay the same, so it’s crucial to partner with a brand you love that compensates you well for suggesting it to others. I’ll have an entire podcast dedicated to this subject.
Savings Strategy: this deserves its own paragraph. Saving money = making money. You can gain great wealth by saving overtime. In fact the ROI (return on investment) with saving money is often higher than most other investments like real estate, stocks, and bonds. I’ll do a dedicated IG live to “Saving Strategy.” Be on the lookout for it today.