*know what is asset &what is liability>asset>puts money in my pocket ..liability>takes money from my pocket..*don't just work for money,let it work for you..ex.>you 're an employee..you get money by doing work..>if you can utilize the gotten money in building up asset columns>it can create good positive cashflow &as you 're getting more money>you're again using the money as previous(it's like money is working fr you..>system ongoing..cashflow gradually increases..you've a job & you're also making progress in building good cashflow for necessities..

cashflow

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

moneyandinvestments

Money & Investments

books

Books

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing.

Robert T. Kiyosaki

Rich Dad, Poor Dad

It is possible to succeed online without any skills and build an online business that provides for your family and pays your bills if you have the right mindset. How to make money online without skills: Everything you need to know:

How to Make Money Online Without Any Skills

This doesn't mean you have to start a blog about your daily life and post pictures of your cat there. In other words, you should honestly evaluate your strengths and weaknesses. This can include everything from cooking to gardening to interior design. It may be as basic as knitting scarves or building birdhouses.

Start with what you already know

You should not waste your time on these types of opportunities, and instead concentrate on revenue streams that will provide you with a return on investment (ROI). This can be accomplished through affiliate marketing, blogging, Amazon FBA, eBay arbitrage, or starting your own business through Amazon's Seller Central program.

Get rich quick schemes should be avoided

The very first thing you think when you think of making money online is, "I need skills." But actually, you already have one skill you can begin using right away: your passion.If you want to succeed online, choosing a niche and following your passion is the smartest thing you can do.

Focus on your passion and pick a niche

Establishing a strong and sustainable work ethic is the next step to making money online. You need to know why it is worth your time and effort.Does it benefit you personally? Does it help your family? Does it benefit your community? What motivates and inspires you?When you have figured this out, you can make a plan that will help you stay consistent and motivated.

Commit to your vision and stay consistent

The advent of the internet has created many opportunities for skilled and unskilled individuals alike to make money online just by having access to the internet. Any person with the right mindset can start making money on a monthly or weekly basis by following the above steps.  The original post can be viewed by clicking the link.

Conclusion

If you are reading this, chances are you are looking for a way to make money online. You may have tried your hand at blogging but still haven’t found success.

personaldevelopment

Personal Development

marketingandsales

Marketing & Sales

entrepreneurship

Entrepreneurship

business

Business

How to Make Money Online Without Any Skills - A Guide for Beginners. - Kelvinaryee.com

A common trait among self-made millionaires is their ability to create multiple income streams. Multiple income streams help to diverse revenue, withstand economic downturns and expand visibility.

Benefits of creating multiple streams of income

Find the gaps of your current service offerings. If you have an entry-level offer and a high-level offer, consider if you can build something in between that can be developed to meet the needs of those in between your two offers.

Identify passive income offers

It can take a lot of time and energy to cold message. Therefore, it is vital to look within your current audience, find their pain points, and develop a solution that directly addresses the pain points. It will provide you with a built-in customer base.

Market your offers

How to identify where you can find revenue opportunities.<ul><li>Conduct a brain dump</li><li>Categorise your responses,</li><li>Compile a SWOT Analysis</li><li>Create actionable steps.</li></ul> Instead of just adding more to your plate, it is a way to streamline current operations, automating and introducing options to meet your clients where they're at.

Develop business offerings without using more time

Increase your income without increasing your workload.

3 Strategies That Helped Me Develop 13 Streams of Income

<ol><li>Speedy Customer Reassurance</li><li>Insurance</li><li>Pricing Strategy</li></ol>

3 Valuable Entrepreneurial Lessons

As an entrepreneur you should proactively provide reassurance to your customers and, for small businesses, it’s even easier because you are closer to your customers and can easily keep track of them. Providing reassurance to your customers reminds them that you have their best interest at heart and their money is best spent with you.

1. Speedy Customer Reassurance

There are many people who view insurance negatively but as an entrepreneur, you should be walking in the opposite direction. Having insurance could be the difference between losing everything you own and having the shot to begin again, and this certainly proved to be the case for a lot of covid hit businesses during the pandemic.Get yourself a good insurance deal, on your home, business, and cars.

2. Insurance

Joe Karbo author of ‘the lazy man’s way to riches' explained in chapter five of his book that your selling price should be at least three times your total cost. This may sound astonishing but Joe says that he is personally more comfortable at 5 times his total cost and in some cases, 10 times your cost is a possibility. You should be open to dividing your market and experimenting with your prices to find the optimal one. The bottom line is that this strategy is what successful businesses adopt, they ‘milk their wins’.

3. Pricing

These ideas show three important lessons for entrepreneurs in managing their businesses. 

On 9th February, a cargo ship named the Felicity Ace, left Emden port in Germany heading for Rhode Island in the U.S, carrying 22 crew members, 189 Bentleys, 1,100 porches and 2,711 other luxurious electric and Non-electric vehicles owned by the Volkswagen group.   It never made it to Rhode Island. There has been a lot…

startup

Startups

leadershipandmanagement

Leadership & Management

3 Valuable Entrepreneurial Lessons from The Tragedy of Volkswagens Felicity Ace

﻿The more desire I have for something to work out a certain way, the less likely I am to see the truth

If you have nothing in your life, but you have at least one person that loves you unconditionally, it’ll do wonders for your self-esteem

A happy person isn’t someone who’s happy all the time. It’s someone who effortlessly interprets events in such a way that they don’t lose their innate peace

Tension is who you think you should be.Relaxation is who you are

Escape competition through authenticity

The closer you want to get to me, the better your values have to be

Earn with your mind, not your time

The hardest thing is not doing what you want—it’s knowing what you want

Learn to sell. Learn to build. If you can do both, you will be unstoppable

Memory and identity are burdens from the past preventing us from living freely in the present

10 Top Quotes From the Book “The Almanack Of Naval Ravikant”

Getting rich is not just about luck; happiness is not just a trait we are born with. These aspirations may seem out of reach, but building wealth and being happy are skills we can learn. So what are these skills, and how do we learn them? What are the principles that should guide our efforts? What does progress really look like? Naval Ravikant is an entrepreneur, philosopher, and investor who has captivated the world with his principles for building wealth and creating long-term happiness. The Almanack of Naval Ravikant is a collection of Naval's wisdom and experience from the last ten years, shared as a curation of his most insightful interviews and poignant reflections. This isn't a how-to book, or a step-by-step gimmick. Instead, through Naval's own words, you will learn how to walk your own unique path toward a happier, wealthier life.

philosophy

Philosophy

Getting rich is not just about luck; happiness is not just a trait we are born with. These aspirations may seem out of reach, but building wealth and being happy are skills we can learn. So what are these skills, and how do we learn them? What are the principles that should guide our efforts? What does progress really look like? Naval Ravikant is an entrepreneur, philosopher, and investor who has captivated the world with his principles for building wealth and creating long-term happiness. The Almanack of Naval Ravikant is a collection of Naval's wisdom and experience from the last ten years, shared as a curation of his most insightful interviews and poignant reflections. This isn't a how-to book, or a step-by-step gimmick. Instead, through Naval's own words, you will learn how to walk your own unique path toward a happier, wealthier life.

Eric Jorgenson is an entrepreneur, writer, and investor. He is on the founding team of Zaarly, and has been publishing online since 2014. His blog has educated and entertained over a million readers.Eric is on a quest to create (and eat) the perfect sandwich. He tweets at @ericjorgenson and publishes new pieces and projects on ejorgenson.com/blog

Eric Jorgenson

The Almanack of Naval Ravikant

Stock prices & business profits are not at all linked in the short-term, but they are 100% linked in the long-termWatch the business, not the stock

It's a FAR bigger mistake to sell a mega-winner early than it is to hold a mega-loser too long.

Compounding pays off the most in the out-yearsOptimize for longevity first, everything else second

In the beginning, focus the vast majority of your effort on boosting your income & savings rate

Analysis paralysis is realOnce you know enough, decide.

The P/E ratio is only useful when a company is fully optimized for profits (stage 4)It's most deceiving in stages 3 & 5

If you rarely sell, your portfolio will concentrate itself

Invest with CEOs that under-promise and over-deliverAvoid CEOs that do the inverse

Stop-loss orders should really be called Stop-Compounding Orders

"Do nothing" is almost always the right move.

I've been investing for 18+ years I've made TONS of mistakes along the way here are 10 critical investing lessons I wish I could teach my younger self:

10 critical investing lessons I wish I could teach my younger self

Getting involved in crypto mining means you’ll be able to generate coins on your own with no need to purchase them from someone else. You’re going to need a powerful rig, and even then, there’s no guarantee to make money from this endeavor. Most cryptocurrency mining computers rely on very powerful GPUs, costing hundreds to thousands of dollars.You’ll need to spend money on the electricity that powers your computer. Depending on which coin you want to buy and the competition you have  ( + other variables), you could end up spending more money to operate your rig than you make with the mining.

Building a Crypto Mining Rig

Most people buy and sell coins through a marketplace. With the right market, you’ll have even hundreds of cryptocurrencies to choose from, and you can buy in tiny increments, sometimes securing a transaction for less than $100.Most cryptocurrency brokers charge money for this service, so you’ll pay a bit more than the total purchase price of your transaction (it's a negligible cost).If you’re interested in trading coins frequently and taking advantage of the small spikes and valleys that occur throughout the day, you’ll need a significant amount of capital, and you’ll need to be prepared to ma<warningtag>ke substantial transactions.</warningtag>

Purchasing Currency

If you have a powerful computer, you can set up a rig to mine cryptocurrency on your behalf, to generate the resources yourself. There are just a few problems with this idea.<ul><li> GPUs and other necessary computer components tend to be very expensive for starters, compromising your potential profitability. </li><li>Crypto mining is also highly competitive and energy-intensive. This means you may end up spending more on electricity than you make generating cryptocurrency.</li><li> Unless you know what you’re doing, you’re probably better off buying and selling crypto on the market.</li></ul>

The Rig Problem

You can purchase $20 of Bitcoin right now, but if you don’t have $20 to spare, that’s not going to do you much good.Small scale transactions like the one above shouldn’t be a problem for anybody. But, if you’re living paycheck to paycheck or if money is inordinately tight, you might struggle to save up enough to build momentum.There are several ways to handle this. For example, you could pick up a second job or a side gig to make some extra money. You could move to a cheaper location or cut expenses that are no longer relevant to you.

The Free Capital Problem

Just because you can invest in cryptocurrency doesn’t necessarily mean you should. Cryptocurrency is an uncertain investment wrought with volatility and regulatory complications. There’s never a guarantee that any cryptocurrency will increase in value or even hold its value. And, many new cryptocurrencies entering the scene end up being flagged as scams.If you’re interested in protecting your investment and maximizing your long-term gains, you shouldn’t invest all your money in cryptocurrency, especially if you don’t have much money to spare.

The Portfolio Balance Problem

Many people who delve into cryptocurrency are excited about the notion of turning a $1,000 investment into millions of dollars in wealth.While this is possible, it’s unlikely, and to the extent possible, it will take a long time to unfold. For example, even if you saw an average return of 10% per year, it would take 73 years to turn $1,000 into $1,000,000.

The Time Problem

Even if you spend months reading about cryptocurrency, studying historical trends, and doing your due diligence for each of several different currencies currently being traded and speculated on, you still might make some bad decisions.You could end up losing your initial investment, plummeting the principal back to zero. Or, you could make a handful of bad trades that completely negate whatever gains you made from your first trades. You could even end up holding onto a cryptocurrency with no realistic future. Even with a lot of money, becoming a competent cryptocurrency investor takes time.

The Learning Curve

It&#8217;s easy to write off cryptocurrency investing as a rich person&#8217;s hobby or an activity with a ridiculously high barrier to entry. However, the mechanics to invest in crypto are...

crypto

Cryptocurrency

technologyandthefuture

Technology & The Future

How Much Money Do You Need to Invest in Crypto?

If you start a sole proprietorship or a partnership, you could be held personally liable for almost anything related to the business; that means you will be responsible for paying any business-related debts you incur and you could be sued by your clients, employees, etc.If you start an LLC, you'll have some degree of liability protection. These business structures allow your business to be treated as if it were an individual of its own. The business itself can take out a loan, incurred debt, and be the target of costly lawsuits - reducing your personal exposure to these financial risks.

Establish an LLC (limited liability company) or a Corporation

New business owners are tempted to fund the business themselves, even if they don't have the savings to cover those expenses. They take out personal loans, max out their credit cards, or incur debt in other ways to get the money they need.A few minor expenses here and there won't hurt you, but for the most part, you should never take out personal loans. Instead, work with investors, tap into your savings, or rely on your business credit to take out loans in the business's name.

Never Take Out Personal Loans

<ul><li>Budgeting and frugality: Be smart with your budgeting and try to remain as frugal as possible.</li><li>An emergency fund: Set aside at least enough money to cover a few months of personal expenses.</li><li>Tax-advantaged investment vehicles: With any extra money, use tax advantage investment vehicles to maximize your savings and plan for retirement. </li></ul>

Focus On Independent Saving Strategies

Try to diversify your income streams, both inside the business and on a personal level.<ul><li>Within the business, that could mean selling multiple different types of products and services, monetizing your content or applications in different ways, or even targeting different audiences. </li><li>The same principle applies to you as an individual. You can diversify your income streams by investing in dividend-paying stocks, investing in real estate, starting independent blogs or websites, or even picking up side gigs.</li></ul>

Diversify Your Income Streams

The right strategies can help you minimize your personal financial exposure when starting a business.

artsandculture

Society, Arts & Culture

The 4 Most Important Ways for Entrepreneurs to Mitigate Personal Financial Risk

Recently, the concept of practicing <a href="https://thehumancondition.com/mindfulness/">mindfulness</a> has gained in popularity, becoming at least three times more commonplace in the United States over the last decade.<a href="https://www.mindful.org/meditation-is-the-fastest-growing-health-trend-in-america/">1</a> <a href="https://thehumancondition.com/mindfulness/">Mindfulness</a> is the state of <a href="https://thehumancondition.com/mindful-awareness-health-and-mental-wellness/">being aware</a> of one’s thoughts and actions in the <a href="https://thehumancondition.com/present-moment-awareness/">present moment</a> in a nonjudgmental manner. Research has linked this <a href="https://thehumancondition.com/mindful-awareness-health-and-mental-wellness/">awareness</a> to greater well-being, positive affect, self-regulation, and protection against <a href="https://thehumancondition.com/mental-health-and-conditions/depression/">depression</a> and <a href="https://thehumancondition.com/anxiety-and-related-conditions/">anxiety</a>.

An Overview of the Mindful Attention Awareness Scale (MAAS)

The Mindful Attention Awareness Scale (MAAS) is a self-report tool that measures an individual’s ability to practice mindfulness in their day-to-day life.

mindfulness

Mindfulness

health

Health

mentalhealth

Mental Health

An Overview of the Mindful Attention Awareness Scale (MAAS) - The Human Condition

When traveling abroad, you'll have to exchange the currency of your origin country for that of your destination, but what determines the rate at which these are exchanged? In short, the exchange rate of a country's currency is determined by its supply and demand rate in the country for which currency is being exchanged.Exchange rate sites make it easier for people to plan their trips abroad, but it's important to note that along with an increase in cost for foreign currency oftentimes comes an increased price of goods and services there.

The Exchange Rate

A variety of factors influences how a nation's currency, and in turn, its exchange rate, are determined, including supply and demand of goods by foreign consumers, speculations on future demands of currency, and even central banks' investments in foreign currencies.

The Factors Influencing Currency

Like any other price in local economies, exchange rates are determined by supply and demand — specifically the supply and demand for each currency. But that explanation is almost tautological as one must also know we need to know what determines the supply of a currency and the demand for a currency.<ul><li>The supply of a currency on a foreign exchange market is determined by the following:</li><li>Demand for goods, services, and investments priced in that currency.</li><li>Speculations on future demands of that currency.</li><li>Central banks occasionally buy up foreign currency to affect the exchange rate.</li></ul>

Short-Run Exchange Rates Are Determined by Supply and Demand

There is at least a rough level to which a currency should be worth, as detailed in the <a href="https://www.thoughtco.com/economics-4133521">Purchasing Power Parity Theory</a>. The exchange rate, in the long run, needs to be at the level which a basket of goods costs the same in two currencies. Thus, if a Mickey Mantle rookie card, for instance, costs $50,000 Canadian and $25,000 U.S., the exchange rate should be two Canadian dollars for one American dollar.

The Worth Of The Currency

The exchange rate is actually determined by a variety of factors, which change constantly. As a result, it's important when traveling abroad to check the current exchange rate in destination countries, especially during peak tourist season when the foreign demand for domestic goods is higher.

The Bottom Line

The exchange rate of a currency is largely determined by the supply and demand of that currency in terms of foreign consumer demand for domestic goods.

What Determines a Currency's Exchange Rate?

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