Thursday, December 27, 2007

Streams vs. Chunks

How does your income flow? As we learn to master our money. It becomes important to know where our money comes from. Do you have a job or do you own your own business? Do you receive a salary or do you work on commission? Do you pay yourself a steady paycheck from your business or do you pay yourself from your profits? It doesn't matter how you hustle. What matters is that you work with the way your money flows. You can still practice your Financial Diet. You can still Pay Yourself. It's okay if you're paying yourself every two weeks, every month, every quarter. The main thing is that you are practicing The Habits.

Does cash come to you like a stream? Steady. Regular.

Or does your cash come in chunks? Periodically. In big juicy pieces.


Many of us, especially as employees, receive our income in a steady stream. Every two weeks we receive our paycheck. We Financial Diet. We Pay Ourselves. Every year, we get at least 25 chances to practice good money habits. Every time we get paid, we grow closer to making The 5 Habits of Money... our habits. This is our advantage when we receive our income in a steady stream.

Many of us as business owners and salespeople only get paid when we sell something. Sometimes, after we sell, we still don't get paid right away. Sometimes we need to wait till our product is delivered or installed. Sometimes we need to wait till our invoice or commissions get paid out. Our income is more sporadic. Some months, huge chunks of money come in. Other months, those "chunks" look like little pebbles of cash.

May I suggest...

1. If your Hustle comes in a steady stream, I'd like to suggest that you work on a side hustle that will produce cash in chunks. If you've been at your job for a while and you feel like your on cruise control, then now is a great time to work on a Side Hustle. Start with what you like to do. Turn your passion into profit. Move from being a hobbyist to becoming an expert.

2. If your cash comes in big chunks, I'd like you to think about how you can turn part of your cash into a steady, passive income stream. Depending on how much you receive each time you get paid, you could start Pimpin Your Dollars right away.

It doesn't matter how you Hustle. It is important that you realize how your cash flows. And that you continue to practice The 5 Habits and eventually master your money.

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