Financial Foundations

Only today has it come to mind that not everyone has a stable finance foundation. In my youth I was quite reckless with my own finances because I didn’t have a lot of money, foresight, or understanding about the nature of money. It took me many years to clean up the mess I made in my youth; rebuilding my credit, increasing my earning potential, and learning how to manage the money I do have.

For those who may need some basic financial advice there are two basics for acquiring and keeping money if you don’t think you have enough (or perhaps just want more). One of them is aggressively saving money and the other is aggressively seeking ways to make more money. It’s best to do both but minimally you should be doing one or the other.

My own financial foundations

I see how both play out in my own home. My wife is an aggressive saver; seriously, it’s so extreme that it literally makes me furious at times. She hates to buy clothes, make-up, presents for other people, clothes for our kids, etc. I’m not going to lie, I’ve had many fights with her just trying to make sure our kids have what they need. Don’t get me wrong, I understand where this comes from, she’s been poor for pretty much all her life and she’s had some rough times so it’s really the fear of going back to that which drives this neurosis.

On the other hand, I also grew up poor (sometimes I knew it, sometimes I didn’t), but I took the other road. When I was young, I bought various small toys by the dozen from Oriental Trading Company and sold them to kids at school. Keep some profit and reinvest to buy more toys to sell. Later it was basketball cards (I’m not a fan of the sport but I knew which I should buy and sell and for how much). Throughout my professional career I never accepted a job that paid less than the one I had before. Getting fired from a job was more often than not a gateway to a better paying job. Of course, that doesn’t work for everyone. I can go into what made this work for me if anyone’s interested in the future.

Save but press to earn more money

By now it should be clear that this blog isn’t about aggressive saving; that’s just not my mode. Here we’re primarily about maximizing income and more specifically about maximizing passive income.

There are a few topics that I’ll be covering in the future: financial automation, investing, methods for generating passive income and what it takes to make them work. I’ll also be doing some research to see how I can help answer specific financial questions that people may have. To be fair, aside from being a data analyst, I also spent some time in pricing analysis, financial analysis, and estimating. I may not be an expert but I’m here to help myself learn and hopefully help others learn from what works for me and what doesn’t.

Writing the Journey

Just as an aside, I may not write about passive income every day. Momentum is a factor in success in general, and my research on blogging indicates that it’s especially important for blogging. Therefore, I intend to write pretty much every day. I have a list of topics that I have in work and I’ll publish them as I complete them even if they’re not aligned perfectly with the project. It’s one step at a time and this journey has a destination but not really a clear path forward. If I get some feedback on whether or not people like content that isn’t specifically related to passive income I may decide to move it over to another blog perhaps switch this whole thing to a website under my own control.

Tomorrow’s topic: Affiliate programs, who are they and what do they want from us?



Categories: Not Passive Income, Other Content, Planning

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