If you haven’t already read the previous post, please refer to Step 1 – Boost Your Active Income
Before we move on, let’s review the Five Steps again.
Step 1 – Boost your Active Income
Step 2 – Get Rid of Unnecessary Debt
Step 3 – Save More
Step 4 – Reduce Spending and Live Within Your Means
Step 5 – Invest For Passive Income
I recently received a comment that Step 4 should in fact be the first step. I thought about it and here’s why I put them in the order I do. I look at our Personal Finance as a business, so in essence we are all running a business – which is our own finances. What’s the first thing you want to do with your business? Get more revenue or reduce costs? Obviously, the first focus is to boost Revenue, hence I put the Steps in ......