Do you want to stay in the green? Erase all your debts? And never worry about your finances again?
The route to the green is through what's known as passive or residual income.
If you want to get rid of debt, quit your job and travel the world, you need to start thinking about building out these passive income streams. Yes it's possible and I'm not trying to sell you anything so you can't a say it's a scam!
What is residual income?
It's money that you earn without trading your time for it. Most of us trade our time for money. Passive income is earned through cash-flowing assets that produce money.
What's a cash-flowing asset?
Anything that provides a flow of cash to you every month.
This could be a blog, a rental property or a stock investment. Cash-flowing assets provide you with long-term residual income.
Most people don't get to enjoy the sweetness of passive income in their lives because they're too caught up in the rate race, or they just aren't aware of the true opportunities available to them.
For example, did you know you can find dozens of passive income ideas, just by doing a google search? You can find 45+ passive income ideas here in one resource.
The reason most people don't earn passive income goes deeper than just being stuck in the rate race. It's all about this thing called mindset. The way people relate to money and business has a direct correlation to the results they achieve financially.
Another example is that almost anyone has the ability to build a profitable business through learning how by taking online courses. The Sam Ovens Consulting Accelerator is one such example. In this course, you can learn how to start a consulting business from scratch -- without any previous experience or specific expertise. But so many people still struggle and fail. This just goes to show that people aren't in the right headspace to achieve success.
You can read more about the Sam Ovens course through this usefuk guide I found here: http://benguonline.com/sam-ovens-consulting-accelerator
The cash flow quadrants
Robert Kiyosaki put it perfectly when he talked about the four cash flow quadrants.
You see, it isn't just about how much you make, it's more about HOW you make your money.
There are four separate sources of income. Each of these are quite different from each other. Identifying which quadrant you fall under is the first step to changing your financial situation for the better.
The cash flow quadrant is split into the following sections:
E = Employee
S = Self-employed
B = Business owner
I = Investor
These quadrants represents how people make their money. For example, the Employee earns money by trading dollars for hours, typically in a corporate office setting.
Self-employed people work for themselves which also includes small business owners.Continue reading
The Bradbury Pound is the UK equivalent to the US Greenbacks: ‘government’ or ‘treasury‘ rather than ‘bank‘ money.
On 18 November 2013, Austin Mitchell MP tabled Early Day Motion 748: 100th Anniversary of the Bradbury Pound. MPs can now show their support by signing it. The more signatures, the more likely the media will take an interest. Eventually, it may become a Parliamentary debate.
UK Column published this video with Justin Walker, together with this online petition.
Green Credit for Green Purposes is exactly what is possible with the Bradbury Pound!
To go even deeper into the historic significance and economic relevance, please note:
- the Economic Research Council published Government Debt and the Creation of Credit – with the Bradbury Pound as its cover – in 1981
- John Bradbury and Thomas Paine is a 6,000 word article by the author of History of Usury
- Warmongers, Newspapers and the Ruling Class is another historic article by the same author that links WWI with the Bradbury Pound.
Altogether I published these articles so far – in chronological order: Continue reading
This video is one of the many excellent TED Talks:
Biologist Allan Savory is talking here about how to green the world’s deserts and reverse climate change.
It is clearly not ‘authorised knowledge’ but ‘the unthinkable':
- to address climate change and desertification
- to demystify the effects of animal herds
- to use holistic management and planned grazing of animals
- by using livestock to mimic nature.
Twenty-two minutes worth watching to give hope to the our world’s most challenging problems:
Green Credit for Green Purposes was a submission to the Treasury Select Committee that formed the basis for this blog in February 2008.
Recently, the Bank of England came up with ‘doing it by QE’, or quantitative easing – as if there was no difference between ‘credit’ that requires ‘interest’ and ‘cash’ that is interest-free.
Besides the fact that nobody issues the interest necessary for all credit, the other aspect is who has the privilege of
- issuing interest-free Cash: National Governments
- issuing interest-bearing Credit: virtually all financial institutions
- and who controls the issuers???
What is particularly sad is the fact that National Governments have let the financial institutions virtually take over the privilege of issuing money as Credit and thus the power of control.
What’s so dishonest about our money explains these arguments on another site.
The Robin Hood Tax is the UK version of the Tobin Tax which was at the beginning of ATTAC in France ten years ago.
As an anti-poverty campaign, it is more pragmatic than the economic theories of Tobin Tax definitions or the political demands of the Attac network.
Supported by a coalition of 48 organisations, the Robin Hood Tax campaign spells out what the income should be spent on.
And in the spirit of our times, it uses Twitter and YouTube.
The video is set to private until the launch which is set to 0.05am in parallel with the 0.05% tax that Robin Hood wants to take.
However, Mervyn King, the Governor of the Bank of England, dismissed the idea of a Tobin Tax only recently, according to the FT.
Of course, this tax doesn’t get to the root of all evils, but at least it’s bound to capture people’s imagination!
“Money for Climate Change” is effectively what we’re asking with Green Credit for Green Purposes.
Blog Action Day is an effort to focus on climate change collectively in the blogosphere.
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Raising awareness of a deep seated systemic problem means informing the ‘victims’ and the ‘oppressors’.
With our history of Early Day Motions (EDMs) we’ve been addressing the monetary causes since 2002, trying to educate MPs.
Based on our latest EDM, we’ve now created a website that brings MPs and victims together.
Some of the questions one has to ask oneself are:
- are institutions achieving what they are supposed to?
- if not, why not?
- what on earth can I do?
- what is worth doing?
- which side am I on?
- am I coping and staying positive by doing SOMETHING?
I saw this slide in a remarkable presentation by a civil engineer from Arup – We shape a better world the other day.
Instead of the usual political right – left divide, it pictures what the world might become, depending on our human development and the degree to which we care for the health of our planet!