Increase your Income (Create your money machine)

Being wealthy is achievable. First in mind, then in reality. There are 2 elements of financial wealth, the mindset to create money and the ability to create money. These 2 elements can transform people from being poor to financially wealthy. I learned that principle from my mentor Bro. Bo Sanchez.

What is Your Wealth? 

Is it your money? Your car? or your house? Does this thing brings your more money? For me, my wealth is the ability to create money automatically while doing the most important things in my life. Like more time for my family, serving God with my time and to help other people achieve their dreams.

Do not ask for money alone. Money can be a burden if you don't have money machine. (Money machine is your regular source of income from your job or business).

For example you wish for a car and the car was given to you. I believe that your next problem will be the daily gas for your car. After more months your next problem will be the car maintenance to maintain its condition. If you don't have money to sustain it, what will you do?

Friends money will be your big problem if you didn't know how to increase your income.

There are 2 stages of financial life.

  

Stage 1. Man works for money - best example of this is your job or self employment. You exchange your time and service to earn your income.

Stage 2. Money works for man - in this stage, the money grows itself. I'll discuss it later. Read on.

Which of these financial stage would you choose? For the mean time, we starts from stage one which is our job or by by being employee. If you had the experience and the right knowledge/skills, you can transfer to stage two. Money will work for us. Whether it is in the form of investment, property or business.  From there you could also create money machine.

There are 2 kinds of money machine.

1. Manual money machine - it is your job or maybe self employment(doctor, dentist, lawyer etc).

2. Automatic money machine - there are many automatic money machine. These are paper assets, business and properties.

3 kinds of Automatic Money Machine

1. Paper assets - one of the example of this is mutual fund. In mutual fund, you simply invest your money to the mutual fund company. Then the company re-invest your money either in bonds or stock market. If the company invest your money in bonds, it will called bond funds. If it invests in bonds and stock market, it will called balanced funds. And if it invests in stock market alone it is called equity fund. In paper assets like mutual fund, your money will earn up to 12% to 18% a year.

Another example of paper asset is the stock market. Stock market is very dangerous for the people that  doing stock trading. Stock market trading is buying big amount of stocks in low price and sell it in 1 to 2 days when the price increase. It is simply a gamble for the beginner. I recommend the stock market investing. It is the investing or buying big and stable companies in whatever price and earn from the dividend. 

2. Business - being an entrepreneur is the fastest way to be wealthy. However the requirements of being entrepreneur is to learn the ability to earn money. They have to study consistently and build relationship with their clients or customers. By having business, you can create your money machine and it needs to be automatic. There are lots of business that the operation is automatic and can earn passive income.

Warning: Doing business is not an overnight event, you need more patience and perseverance. You can fail more times but you have to be strong to succeed in your business. When you succeed in business, it can also be an automatic money machine for you. Choose the business that can operate automatically.

3. Properties - owning properties is great source of income. For example you own an apartment or condominium, the monthly rental fee will be the continuous source of income.

I hope this post serves you. If this article blessed you, kindly share it to your friends.

PS: My free ebook is now available. Get your copy now. Click http://bit.ly/get-jun-borgonos-ebook

PS2: Gusto mo ba ma-achieve ang time at freedom while you're making money online? Watch the video here. Make sure na tatapusin mo ha. Email me at rodolfoborgonos@gmail.com if may question ka. I'm happy to serve you! :)

Your friend,

Jun Borgoños.