http://www.unn.edu.ng/2017-2018-primary-postgraduate-admission-batch-b/

Active income Vs Passive income

Most people solve this problem of paying their monthly bills by getting a job. This is something we call  active income. In other words, we actively exchange our work for money. It doesn’t matter if the work is manual labor or more skilled brain work

. With a job, you are relying on someone else to keep you employed so the money continues to flow into your bank account. If the job ends, so does your money. And when the money ends, you have no way to pay those monthly bills.

 Thus, the Rat Race begins. When we think of retirement, most people imagine the day when they no longer need to go to that job anymore. It usually occurs somewhere around the age of 65. By that time, hopefully enough money 

has been saved to carry them through the retirement years. For many people, retirement may never come. The nature of their own personal Rat Race has somehow kept them from acquiring enough money to cover their expenses for their remaining days. 

On the other hand, you can also cover that $5,000 total of monthly expenses with something called  passive income. For our discussion here, I want to focus on the type of passive income we can generate by purchasing something called an  asset. 

So instead of working to create cash, we want to explore what it looks like when we purchase an asset that creates ongoing cash for us — every month, every year, for as long as it fits our desires. 

In the coming chapters we’ll explore this in more detail. When we buy an asset, we place it in the Asset column of our balance sheet. 

These assets can include real estate, a business, commodities such as gold or oil wells, and paper assets such as stocks.

To change your income you have to have the right philosophy. The philosophy of the poor Vs the philosophy of the rich.

First of all you have to have the right philosophy of life, of family relationships & of economics. If you develop the right philosophy, that's what helps you to set the sail, so that in six years it takes you to where you want to go. philosophy is ability to gather knowledge and sort through it and decide what's valuable

Now I'd like to give you a couple of philosophies to consider :

The philosophy of the Poor Vs The philosophy of the Rich. 

Here's the philosophy of the poor : Poor people usually spend their money and invest what's left.

Here's the philosophy of the rich : Rich people usually invest their money & spend what's left

It really does not matter the amount of money you earn, what matters is the philosophy. I'll advise you adopt this philosophy of spending after you have invested.

Now what should you do with a $Dollar? 

A person's economic future starts with a child with a dollar. Some will say ' oh, it's just a dollar, let me spend it ' but hey! when do you hope that will stop?

Don't spend the whole dollar! Well, I know it's your dollar, you earned it, but don't spend it all!

If you're young, say age 15, you still have 20 years to practice what I'm about to share.

Rule no 1. Never spend more than 70% of your income. 

Well, okay, you may ask what do you do with the other 30%.

Here's the bit of advice :

10% FOR CHARITY : Charity or church or for helping people who can't help themselves. It's called being generous. The best time to start is when the amount is small. Because when the amount gets larger it's a little bit difficult. I hear some people say ' I'd give a hundred thousand out of a million ' I'm sure about that, that's a large amount of money!! So the best time to start is when the amount is small. 10% of a dollar!

10% for ACTIVE CAPITAL : Active capital means doing something to make a profit. Wages are okay, but I'm telling you that wages will make you a living but profit will make you a fortune. You can't start earning wages until you're about 16 or 17years. But you can start earning profits long before then. There's no limit to profits.  Profits can double & triple & quadruple. Profits are better than wages.

10% FOR PASSIVE CAPITAL : This is a capital you let someone else use and they pay you for the use of it, it could be a financial institution, stocks & bonds, rental properties etc. Compound interest could make you financially independent so quickly, and that's how you get it : letting someone use some part of your money & they pay you for the use of it. If you can adopt this formula of 10% 10% 10% and 70% ,I'm telling you if you start at age 15, at age 35 you will become financially independent.

One more key on financial independence, that is - ATTITUDE.
You need to learn to reduce your liabilities and increase your assets. You have to have that kind of attitude.

What is the rat race? Plus the rat race escape plan (part 1) As explained by Andy Tanner

You’ve probably heard the term  Rat Race  before. People will reference it when they say things such as, “I’m stuck in the Rat Race,” or “I hope that someday I can get out of this Rat Race.” But what does this term really mean? For most of us, the Rat Race is a situation in which one day we wake up and feel as if we’re trapped by our circumstances. It’s a frustrating, hard-to-break lifestyle that usually forces us to stay in jobs we don’t always enjoy due to the multitude of financial obligations hanging over us: the mortgage, rent, medical bills, filling the car up with gas, braces for the kids, day care, groceries, and so much more.

Even those with seemingly good-paying jobs often feel very close to poverty when they’re caught in the Rat Race. I’m always surprised at how many people I speak to are just a paycheck or two away from financial ruin. As a result, they tend to stick with the same jobs for fear of being poor. That’s how I describe the Rat Race with words. Now let’s look at what being stuck in the Rat Race looks like with typical financial numbers. The place to begin is with a  personal income statement  and  balance sheet.

This is where we can see the money flowing into and out of someone’s life. It’s an illuminating (and sometimes painful) method of identifying the real financial situation someone is facing. Once we find the problem, it’s so much easier to find a solution. For our example, let’s say that every month your expenses total $5,000. This is the amount of money you need to pay to cover the cost of your lifestyle. So the first thing we need to figure out is this: how will you come up with $5,000 every month?

HOW I WROTE MY FIRST E-BOOK

I knew I wanted to write something, I was hungry for it, but the problem was I didn't know what exactly to write. So I sat down one day, took my book & pen & started writing, what I was writing I didn't even know.

 I looked at the books close to me & saw how voluminous it was & I asked myself ' will I ever write something like this '. I continued writing & reached a point where I was frustrated & questioned myself if this was exactly what I wanted to do.

I asked myself if I really wanted to write so many times, some part of me wanted to move on (writing what I was not even sure of) & some part told me I shouldn't bother writing that I should look for something else to do. So I succumbed to the second. I tore out the page & was even ashamed of even reading it because I felt it didn't make sense.

Be it as it may, I continued reading other books & got inspiration from them. I finally figured out what I wanted to write. That was about a month after I gave up writing.  I thanked GOD for such inspiration on how the book should be  & what title to give it. As at that time I wanted to title it ' Improve not only your content but also your container '. Hmm, what a title. I then contacted Mr. Precious Kc George & told him about what I wanted to do.

He gave me some tips on the book & later suggested some titles for me. Then I chose ' The search for you : 7 proven secrets to a new you ' (that's the power of meeting with those ahead of you which I mentioned in the last chapter of the book). I moved on with writing the book & would go back to Mr. George when I have a question. The whole process took me about 3 months,from when I got the idea till when I started writing. I continued writing  & would go back to read it over again to see if it made sense. Yes, I faced what every other person out there might face. That is, the fear of letting your ideas out for the whole world to see.

I asked my myself what people will say when they read my book, will they condemn it or will they appreciate it. But thank GOD I never dwelled too long on the negative aspect of it (lesson : never ask yourself why something will not work, rather ask your self how will you do it that it will work).

I finally wrote the whole book, though I was worried why it wasn't voluminous until I realized that it doesn't have to look like a dictionary before its called a book. I finally finished it up after long weeks of writing. Then Mr. George did some polishing in the book to make it look like what it is now. I finally tried about three platforms for selling e books, but I wasn't successful in all. I then looked for a way to get my book out there for about a week.

 I spoke to Mr George again & we came up with the idea of talking to Mr. Promise Excel about the book. It wasn't so easy getting to him though (which he said earlier), But I kept on until he found a way out for me to get my book delivered. He's the reason why we can now send you the book by clicking on this link http://goo.gl/GxzyvK . Yes! I finally got it done & set out a launch date, I decided I'm unstoppable. By the grace of GOD my book has got hundreds of readers in less than one week of its release date. Thanks to first person that ever told me I could write a book, please help me thank Sylvia Kalu.

 I cannot mention everyone who helped me one way or the other here, but if you know you've imparted in me, Thank you so much!

Also, please thank the mother of this young author Goretti Joe.

Thanks to those who read my book & sent in their kind reviews.

I don't need to talk much about Mr. Ikana Daniel Akpata formerly on Rc.1023fm (the only true blunt crazy love doctor) & his wife,  because he's such a wonderful man. Please listen to his radio show & get transformed  https://mixlr.com/love-and-life/?

Of course I was scared of what it will be like if others read my book, I felt the fear, but I did it anyway!

hey! I don't know much about you, but here's what know : you've got greatness within you!

I hope to get it on amazon soon, by GOD'S GRACE. Though it might take some time. THANK YOU ONCE AGAIN!

which of the chapters did you enjoy the most & why? What's your take on the  book?
what would you like me to write next?

If your salary is delayed, you will turn to a beggar. Start the journey of financial freedom now!

What is financial freedom?

 Financial freedom is that point in your life you reach where by working becomes a choice for you. It is the level you reach that you don't have to work for money anymore, money now works for you. The lack of money is the root of all evil, not the love of money. There are three things that makes every relationship between spouses work. They are namely:

• Good communication 
• Good love making 
• Money 

Money was listed last but it can sometimes determine if a relationship will stand or not. Statistics show that less than 25% of fresh graduates who get a job at 25years usually get financially free at 65years. Are you retired but not tired? It's time you started your journey of financial freedom. Let me not bore you with too many talk & go straight to the point. 

Where to start

• First you have to be financially intelligent, you can do that by starting with reading good books on money. I recommend you start with Robert kiyosaki's Rich Dad poor Dad & then read as many as you can. 
• Attend seminars & move with people of like minds, people who have the same goals with you. 
• Change your circle of friends. If you move with 9 broke people, you will be the 10th. 
•  Take on opportunities around you. You cannot get these opportunities if you're not open to hearing them. 

Take note that you cannot learn how to cook by mere reading books on how to cook, you have to do it yourself.  Read more

Your boss cannot make you rich :7 Globally accepted ways of generating passive income

Passive income is, in essence, money generated “while you sleep.” In other words, you don’t have to be punching a clock or otherwise actively engaged in a job to make this type of income.

Of course it’s not as easy as snapping your fingers. There is some effort involved with setting up a passive income stream. But once it’s established, you won’t be required to do much more than collect the money.

Here are five great passive income ideas that you can implement now to start making money “in your sleep”:

1. Blogging. You don’t need special programming skills to start a blog and contribute content to it on a weekly or daily basis. If you blog about a popular (i.e., lucrative) topic like personal finance or celebrities, your website can easily make several hundred dollars a month. You might also wish to try products and review them online. To generate passive income, you can place ads on your site through an affiliate network like Google AdSense. You can also earn affiliate income by featuring individual products on your website through programs like ClickBank or Amazon Affiliates (depending on your state of residence).
2. Writing and selling an ebook. Many successful entrepreneurs write an ebook and earn a passive income by selling it online. If you have a special skill set or degree, you can capitalize on your knowledge by offering it to others. Your ebook can be featured on your own website as well as the websites of your affiliates. You can also create an online forum for members who have bought the ebook and wish to learn more; this is a great way to introduce and sell additional “backend” products related to your ebook.
3. Peer-to-peer lending. Online peer-to-peer (P2P) lending sites such as Prosper and LendingClub allow individuals like you to become lenders and earn a good percentage on their money in the process. You can become a lender with as little as $25 and earn up to 30% on your loan over the course of a year. To minimize the risk of an individual borrower going into default, you should select borrowers who have a credit rating of good or excellent and a low debt-to-income ratio (generally under 20%). P2P lending site borrowers pay you back a portion of your invested principal once a month along with interest.
4. Buying dividend–bearing stocks. Many publicly traded company stocks pay a monthly or quarterly dividend, providing you with a guaranteed amount of money throughout the year. Some tax-exempt stocks, such as real estate investment trusts (REITs), pay out a good percentage of their earnings through dividends, giving you up to a 35% return on your investment. Additionally, since most stocks do appreciate over time, you have the added benefit of seeing your original investment money grow. You can easily buy dividend-bearing stocks through discount brokers like E-Trade and Ameritrade.
5. Renting property. With the housing market still in a financial slump, you can purchase and rent out real estate to make a passive income every month through your tenants. It’s imperative that you get a good deal on your purchased property and not spend additional capital fixing the place up, since that will cause a delay in when you actually start earning money on your investment. If you can purchase and rent out several properties to reliable tenants, you may not even need to keep your regular job anymore.
6. Network marketing. Network marketing is a business of leverage. The basis of network marketing is building networks of people who buy and sell products. ... It's no wonder that the internet is the place to go to build a network marketing. 
7. Starting your own business .FIND A GOOD BUSINESS IDEAA good business idea isn’t just one that turns a profit. It’s one that’s a good fit for you personally, for your target market, and for your location. Hopefully you’re going to be in business for a long time, so pick something you love. Remember you're 

The level of your worth determines everything about you.

Reality says if you're not so valuable to the market place(reality) you don't get much money. Someone might be a valuable brother in the church, in the school etc. ut still earn so little, why? This person is not so valuable to the market place also known as reality. Why would one be paid only $4 an hour? Simply because he's not so valuable to the market place. Why would another be paid $40 an hour for the same work? He has become so valuable to the market place. That's where only explanation.

Is it possible to become more valuable and earn double of what you used to? Of course, it is!

It's simple, like I always say! Work harder on yourself than you do On your job! Work hard on yourself to develop the skills, work hard on yourself to bring about the that change you so much seek. I'm telling you once you're able to do this you will start you will climb the ladder of success swiftly.