The biggest thing you need to know in order to get out of the Rat Race is to begin tracking your Cash Flow that flows through your financial accounts. What was that? Learn the difference between cashflow and liabilities, then build your own cash flowing businesses via investments. This is easier than you realize once you understand what the real difference between an asset and a liability is. This in itself will retrain your mind to look at everything differently. That house that you live in, no longer is an asset, unless it’s paying you through rental income. What? Seriously, think about it. Does it create you money?
Ok, so now I’m curious as to what the difference is between assets and liabilities because my bank classifies my house as an asset. And the house is an asset for the bank. Why? Because it provides income on the banks income form in the mortgage payment you make to them. But, it is a liability to you unless you are profiting from it, ie renting it out. This alone is one of many items that could be an asset or a liability.
It is time for you to track your assets and liabilities along with your W2 income versus your passive income or personal income from other sources besides your job income. Why? By tracking this income, you will gain a better understanding of how close you are to reaching true financial freedom from your W2 job. This alone is eye opening as to if you are on track or if you need to improve in an area.
Now, we have mentioned the tracker so, here is the link to get it: https://glenncove2020.gumroad.com/l/vnpxq
Incomes Versus Expenses
As you can see with this cash flow tracker you can track positive or negative cash flow and determine what you need to improve your own personal financial planning. By tracking cash flow, you ultimately learn what is producing money for your plans and where you need to improve upon your plans. One of the many ways you can improve your personal income is by learning more about how compounding money works. To start tracking cash flow within your own financial planning you need to know your numbers and just enter them in the tracker. Once you do this, you will have a plan and you will know what you need to do to improve your plan. You will also know if you have made it out of the rat race. Let’s get started with your plan.
Wealth Squad
So, now that you have a tracker to track your W2/Job income versus your Hustle/Passive Income and your expenses. You need to get more ideas of how to increase your Hustle/Passive Income, right? Did you know that you can sale with e-commerce? Or do you want to learn how to set up a dividend account to grow your income? We have the tools. Join our Wealth Squad group of entrepreneurs, millionaires, and future millionaires to learn what works from what does not work. Remember you are a sum average of the people you hang around and talk to. So, now is your time to move into wealth with the rest of us. Join us here: Join The Wealth Squad to Build Wealth Dailyhttps://www.wealthsquad.university/?via=Stockmags
Build Wealth Daily While Getting Out Of The Rat Race
So what are you waiting for? Are you like most people, too busy to get wealthy? It might be time to reconsider what is working for you and if you have achieved that goal or not by now. Get your CashFlow Tracker now, make a copy and see where your wealth stands, if it creates cashflow for you, and then get in the Wealth Squad to learn what cash flows and what you need to get wealthy.