Personal Finance - How to Build a Successful Income System

Written By Unknown on Thursday, May 15, 2014 | 6:58 AM


Money is our basic need to live. So making more money in easy ways is a hot topic forever. A typical person starts the struggle from his or her childhood to live prosperously in this world. Learning in school, college and University make us able to do a job, whether it is low pay or highly paid job.

In traditional ways of earning by doing a job, we work and earn. When we stop working, income traveling towards our account stops. Also it means that if a person does more work, there will be more earnings and benefits. But this behavior is not very attractive or suitable to be adopted for the whole life. We need such methods which do not have the condition to work and earn. There should be a technique to help us improve our financial status with a satisfaction about our future.

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Common Way Of Living

Work -------- Income ---------- Future Plans

No Work ---------- No Income ---------- No Future Plans

As shown in the figure, commonly this method is used in our lives for earnings. This method is dependent on each other. Mainly the first and most important factor of this system is the work. If we stop or eliminate work, the further cycle will be stopped. It means that if we do not work, there will be no income and no future. So we need a working method to defeat this dependent cycle and build an independent system for our income and future.

Successful Way Of Living

Work ------ Assets ------ Income -------- Future Plans

No Work ---------- Assets ----------- Income ---------- Future Plans

In another system, called the successful system, we build assets by working. This is the initial work. For example you are a writer and have written 100 articles. These articles are live at your own blog, they are your assets. You can earn from the advertisements shown with your articles as long as they are live and we hope that they will live for at least up to our lives.

All similar approaches enable us to defeat the "Common way of Living" and bring us to the "Successful way". This is a phenomenon, most of the people do not consider. But by adopting this method, we can at least build some assets for our rainy days.

How to Use Successful System to Overcome Financial Worries

It's apparent that we can not apply or adopt the successful system in traditional jobs. Business, small or large is the only way to apply in our lives to succeed. Following are three modes of business.

Conventional business (Organized corporation)Franchise systemPersonal franchise

The conventional businesses are all small and large business around us. Franchise system enables a person or party to become a part of a large business. And open an outlet of a large business in your area. The last is personal franchise. And this personal franchise is the key of this whole story.

The example of 100 articles at our personal blog is our personal franchise. This idea of personal franchise could be applied to every niche of income (assets) which are not volatile. This system enables us to earn by working one time and earn for whole life.


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Author : Unknown ~short term loan bad credit

Blog, Updated at: 6:58 AM

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