8 Reasons Passion Trumps Money Any Day of the Week

‘Should I go for something I am passionate about or go for the money?’ I hear people ask this question a lot when looking for a new direction in life. The truth is, if they had a passion already they wouldn’t be asking the question.

The good thing is it is never too late to discover your passion. I am passionate about quite a few things and lucky to be able to work in those areas. I found that whilst working in a particular area, say film, I could go for days without eating properly and wouldn’t notice. I could go for days without sleep and not notice because I had that extra supply of adrenalin energy you get from doing what you enjoy. How do you know if you’ve found your passion? If circumstance doesn’t dictate how often you do it or how long you stick to it and if you would do it regardless of pay, there’s a good chance this is what you should be doing!

If you are at a crossroads and have asked yourself the question of passion or money, I humbly recommend going for passion every time. Below are 8 reasons why: Read the Rest of This Article »

Why You Should Never Attach Your Identity To What You Do

Males especially are particularly vulnerable when it comes to this subject matter.

It has a lot to do with our male ego.

What’s the first thing that males ask each other when they meet?

‘So what do you do?’

We then begin to respond with the job, the business, the project or whatever else we ‘do’ – and this is what defines us. Or that’s what we think.

We may just as well ask… ‘So what do you make? (in dollars that is)  as if that is what also defines us.

Personally, I would rather know ‘who you are’ than ‘what you do’.

Why? Read the Rest of This Article »

If You Want to Make Art and/or Money, Read This:

This post is for anyone who is trying to do artistic work (writing, painting, computer programming, sculpting, music composition and recording, whatever) – or trying to make money (entrepreneur, salaried, investor, whatever).

People that desire to create and enterprise do a lot to build the world, but it’s often a lonely and frustrating path.

And due to the nature of that, most creative and enterprising people make a key mistake.

They keep trying to re-invent the wheel.

Please stop doing that.

 

Read the Rest of This Article »

Reduce Your Spending or Increase Your Income: What Should You Do?

Whether you’re deep in debt or just having a few financial hiccups, it’s almost certainly the case that you’re spending more than you’re making.

A lot of personal finance writers will advise you to cut your expenditure. Eat out less often, downgrade your cable package, stop buying pricy coffees, and so on. There’s a strong focus on getting rid of unnecessary, day-to-day spending – sometimes dubbed “the Latte Factor” (a term coined by financial adviser David Bach). Wise Geek explains it like this:

The Latte Factor® is a euphemistic label for all that extra money we spend daily on nonessentials such as candy, bottled water, doughnuts, muffins, soda, cigarettes, magazines, newspapers, and yes, lattes.

It’s good advice, as far as it goes. Daily amounts do add up fast, and by cutting out a regular “nonessential” you could probably save at least $50 each month.

But however much you cut out the fat of your spending, you’re going to pretty quickly hit a wall… Read the Rest of This Article »

How Do You Increase Your Income?

Image courtesy of Stephen Barnwell.

I was in an “on-line forum” the other day when someone asked the question, “How do you increase your income?” The person asking the question was no longer working their “day-job,” and was seeking to make money in other ways.

This person was making a few dollars each week teaching kids how to play basketball, but was looking to make additional money.

The Solution

In order to increase your income, you must increase your value; “YOU” must become more valuable. Read the Rest of This Article »

Ben Franklin’s Real Way to Wealth – Part III Conclusion

Franklin ended the Way to Wealth with this ironic statement:

The people heard it, and approved the doctrine, and immediately practiced the contrary, just as if it had been a common sermon; for the vendor opened, and they began to buy extravagantly, notwithstanding all his cautions.

Franklin knew that knowing the right way to live is much easier than living the right way. Being industrious and frugal each and every day is a tough task, one that most people will never master. It takes an enormous amount of self-discipline and perseverance to become wealthy and successful. Most people who read these posts and the Way to Wealth will agree with the advice but will soon forget it and go on making foolish decisions. This isn’t going to change; people can’t be helped that don’t want to help themselves. Read the Rest of This Article »

Ben Franklin’s Real Way to Wealth – Part II Frugality

The second section of the Way to Wealth imparts the importance of frugality. It isn’t enough just to earn money, you have to be smart about what you do with it. In this collection of sayings Franklin describes how a lack of frugality will cause financial ruin and describes the temptations that lead people to spend foolishly. Read the Rest of This Article »

Ben Franklin’s Real Way to Wealth – Part I Industry

Anyone who has tried to find financial advice on the web has encountered nothing but scams. “Invest with me, buy this book, use my AdSense secrets, and you will be making easy money in no time.” It is all garbage. Those who want solid advice to live by would be well served to consult The Way to Wealth by Benjamin Franklin. In a few paragraphs Franklin wittily transmits the wisdom the made him a fortune and one of America’s greatest fathers. Beware: there are no secrets or short cuts, only common sense. Read the Rest of This Article »