How do you manage your income with everything going up?

Income producing assetsEverything is going up. Taxes have shot up. Petrol may have gone down for some time but it’s on the rise. Electricity keeps going up. Wherever you look rates, utility bills and local taxes are increasing. Every one of your expense items whether it be insurance, DSTV, groceries and even restaurants is going up. Compare the price you paid for a meal on a Friday night about 2 to 3 years ago to what it is today. You’ll be lucky if you get a piece of chicken and a salad under R100.

With everything going up it is becoming more and more difficult to get by on your income. Increases are either zero or barely cover inflation. Many would say that you are lucky to even have an income. Even if you do have an income, you are probably working harder and longer hours because of the psychological pressures you are under and as a survivor in the big companies hard work is driven by your survivor mentality. Continue reading “How do you manage your income with everything going up?”

Is time your only source of income?

Vienna Trip - Property, Finance & Investment a...
Vienna Trip – Property, Finance & Investment and Real Estate (Photo credit: Nottingham Trent University)

The other day I was talking to someone about a business opportunity and I said to the person that she was only selling her time. She looked at me puzzled. I explained that if you are selling your personal services to accompany whether it be to do a particular job, consulting, advising or training, you are only really selling the time that you have in life.

Look at it this way, people work in jobs for many years and hope to retire at 60 and that their investment of the time will bring them financial freedom, security and a comfortable lifestyle. Yet this is not always possible because the job market is uncertain and by the time that they retire inflation will steadily erode their retirement income. Continue reading “Is time your only source of income?”