Tracking Your Passive Income
How much income do you make? How much of it is "passive income"?
How much are your expenses? How much do you save or invest?
The answers to these questions will help you plan your investments and determine
when you can become financially free. How do you answer these questions? By
filling out your Financial Report Card of course.
A few years ago, Darren Weeks introduced us to the game CASHFLOW 101, created by Robert Kiyosaki. The game teaches the principles of financial literacy by showing how to accumulate assets and manage cashflow. This is done by filling out a Financial Report Card for a fictitious game character and updating the numbers while playing.
Shortly after playing the game, Paul realized that he would like to apply the principles they learned to his own real life numbers. So he created the Financial Report Card as an Excel spreadsheet and began tracking my own personal numbers. Later that year, he released it into the public domain and gave a copy to Darren for his website.
The spreadsheet allows you to track your assets, liabilities, and passive income, so you can see how you are improving your financial position over time. Passive income can includes things such as paper investments, certain types of business, royalties, or real estate joint ventures and mortgages offered by Spirepoint Properties. Download your copy today by signing up for our monthly newsletter and begin your journey towards financial freedom.
This article is copyright © 2004-2010 Spirepoint Properties. All rights reserved.
Paul Blacquiere and Joanne Beehler are full time real estate investors and have been investing in Ottawa, Ontario, Canada since 2002. They are owners of Spirepoint Properties, a Canadian real estate investing company dedicated to making real estate investing easy.
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Join the FREE Millionaire Investors Club today at www.spirepoint.ca