Financial Literacy is broad and deep. There is much to be understood and gained from seeking the understanding of being financially responsible. This week we will continue in exploring the first component of financial Literacy – earn.
Now that we are aware of what it means to earn money, let us examine making money. Making money is what the “American Dream” is all about. It is the cornerstone of American capitalism, entrepreneurship. For the sake of staying on topic, we will dig deeper into capitalism in a later blog. Making is “when you use your own time and energy and a bit of creativity once and get paid over and over and over again” (Donati, 2020). It is your dream and passion on display in ownership form. Making money is when you are independent of another source for financial growth.
Making money can look several ways. For example, observing a societal need and providing it need repeatedly is making money. Bottling water – think of how society has benefited greatly from one idea and think of how much money that person has made and will continue to make. That one idea has placed that person in the driver’s seat of their life related to financial wellbeing. Other examples are writing a book, starting a business by meeting a small local need, or in this digital age of being a social media influencer.
In the finance world, this is referenced as passive income. Any entrepreneur would express that there is nothing passive about making money freely. It takes grit, hard work, and dedication while earning money to keep producing cash, but it’s attainable. What is the takeaway? In whatever way you choose to get your money, be sure that it is decent. Be sure it pulls you just a little closer to financial freedom. Earning from an entity provides you with the safety net and surety that you will have an income for hours spent working. It is a great place to start if what you are choosing as an avenue to make money has a slow return. The name of the game is – earn! In all, you do make sure that you are earning. Let’s Build!
Reference:
Donati, E. (2020b, August 25). How to Earn Money vs How to Make Money. Mint.Com. https://mint.intuit.com/blog/personal-finance/yes-earning-money-and-making-money-are-different/
