How to boost the cash flowing into our lives

interview in late November on how people might harness facets of Malaysia’s 2019 Budget to improve their lot in life. Here’s the full interview: https://tinyurl.com/ TV3Budget2019RoundTable)

Bottomline: We all need to work hard and smart to succeed. As the economic environment worldwide is likely to worsen in 2019 — largely because of US President Donald Trump’s belligerent trade war with China — we will all have to toil harder and work smarter than ever to improve our total incomes, meaning all our active income and passive income.

1. Commit to becoming the first person to reach the office each morning;

2. Aspire to become the top ranked employee within your department by constantly raising your game and personal delivery standards;

3. Spend your own money to gain expertise in your current role AND for your immediate boss’s job.

As for increasing our passive income, we must grow more adept at building and managing our PoW or Portfolio of Wealth. Here are four guidelines to beef up your PoW:

1. Manage your cash flow wisely by determining to always, ALWAYS, spend less than you earn;

2. Save and invest that difference for a long time;

3. Focus first on saving and only then on investing;

4. Take your time learning about the specific wealth-building uses of different asset classes, only gradually extending the tendrils of your PoW into higher risk asset classes that require closer monitoring.

What we — regular people who don’t have wealth handed to us on a silver platter — need to focus on first is proactively growing our active income. As that balloons over time, and assuming we don’t allow our expenses to rise as fast as our net income, then we’ll be able channel more and more of our monthly cash flow surplus into safe savings and interesting investments.

Next week we’ll focus on reducing our cash bleed. Read his free articles at www. FreeCoolArticles.com; he may be connected with on LinkedIn at www. linkedin.com/in/rajendevadason, or via rajen@RajenDevadason.com You may follow him on Twitter @RajenDevadason