Tag: wealth building (Page 1 of 2)

These Money Management Tips Helped Me Through Tough Times

Money Management Tips
Money Management Tips – Franknez.com.

Those of you following me on Instagram voted for a personal finance article this weekend; so, I’m going through 5 money management tips that have helped me through tough times.

Oh yeah, it’s getting personal.

Let’s get started.

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#1. Aiming to Increase My Income

Whether it was looking for a salary raise, a commission raise, or an increase in clients, aiming to increase my income has always been a career priority for me.

Increasing my income has been one of the most important money management rules I’ve created for myself.

When you increase your income, you increase your ability to increase your savings and be ready when you spot investment opportunities.

#2. Diversifying Income Streams

Another very important one.

Having an additional stream of income has saved my a** during rough patches and setbacks.

Whether it’s creating a side hustle, a side business, or an income generating platform such as a blog or YouTube channel, having an additional stream of income can go a long way.

Especially if your main income is going through a slump.

Building an additional stream of income also raises your household income; who wouldn’t want an additional $1,000 per month, right?

Bookmark: Side Hustles from Home That Make a Ton of Money

#3. Creating a Money Management Plan

money management tips.
Money Management Tips – Franknez.com.

This is a great one, and one most people never start with.

Begin by writing your money goals, literally all of your money goals.

How much money you want to make, how much money you would like to save each month, how much money you can see yourself investing in something else, and so on.

By creating a money management plan, you’re able to zoom out and look at what you need to work at, even if you’re currently in a tight spot.

Sometimes we’re so busy that we forget to just simply stop and set goals that are going to propel us forward.

#4. Learning About Money

Learn how to manage money.

When you get serious about your money, you start to look for ways to get your money right.

That’s why you’re here today.

Being involved in the world of money is going to make a huge difference in your life because you will constantly be taking in great money habits from those who have learned the ropes.

While you might not agree with every money guru or entrepreneur or investor, you can always take something from everyone, and use it to mold your own personal money management experience.

#5. Having a Killer Savings Account

Money management tips.
Money Management Tips – Franknez.com.

Having a killer savings account has saved me from any type of financial setback or unprecedented expenses throughout the year.

The key to building a strong savings account is to first increase your income and then set the additional earnings aside.

The bigger your income, the more funds are made available for you to put away.

Avoid financing new cars or a new home as you increase your income.

These financial decisions will only set you back and limit how much you’re allowed to set aside in case of a rainy day.

These toys should be last on your list until you have a strong foundation and positive trajectory of where your finances are headed.

Also Read: 5 Easy Ways You Can Earn Leverage Income: Start Now

About Frank Nez

Frank Nez is an American entrepreneur and journalist with a background in startup development, marketing, and branding. He is the author of “Reaching the $10K Mark: How Perseverance Overrides Adversity” and founder of SoCal advertising agency Easy Marketing Concepts.

You can follow Frank Nez on: Twitter | Instagram


How Can the Average American Pivot in a Recession?

Recession 2023
Want to become recession proof? Here are some steps you can take.

An economic downturn, a recession, call it what you will.

The U.S. economy is in a state of emergency and the average American is suffering financially.

From stock and crypto market crashes to the rise of gas prices and increased inflation, the middle class is in desperate need of help.

The problem is no one is teaching the middle class how to pivot.

Cutting back on expenses isn’t going to do it, you can only cut so much.

This article is going to help you identify several ways to pivot during a recession so that you can take care of your family during economic hard times.

Let’s get started.

Shifting Mindset from Defense to Offense

how to prepare for a recession.
How to prepare for a recession.

During a recession, most people tend to contract, they tend to shrink (cut expenses, coupon, etc.).

Very few, however, expand and look for high reward opportunities.

It’s these opportunities that allows the few to shift their mindsets from defense mode to offense mode.

A defense mindset is idle, waiting for the government to do something about their financial setbacks (job loss, cut hours, lost pension funds, market crashes, etc.).

An offense mindset on the other hand is identifying how to keep up and overcome the changes occurring in their environment.

While most people focus on the things that are out of their control, few focus on the things that are within their control.

If you’re reading this blog, chances are you’re being impacted by our economy today and want to make more money.

Who doesn’t want to make more money?

Money is how we ensure our family’s security and wellbeing in America.

If you want to learn how you can pivot in today’s falling economy by earning more money, keep reading below.

Learn How to Use Leverage and You’ll Never Fall Short Again

how to use leverage
How to prepare for a recession.

We all have the same 24hrs in a day, but do you want to know why successful people make more money than the average person?

It’s not because they work harder than you or because they’re smarter than you.

It’s because they use leverage.

Leverage is a multiplier of both time and money.

What would have taken you decades to accomplish, leverage gets it done at a fraction of the time.

Leverage is accessible to everyone, including you.

But we don’t grow up with mom and dad teaching us this.

So, what are some forms of leverage you can take advantage of as soon as you exit this blog article?

Let’s dive right into them.

Leverage Tools to Help You Make Big Money

#1. Building Your Dream Business

Small business recession
@easymarketingconcepts

Starting a business around your hobby, passion, or skills has the potential to create that world you desire.

How does leverage play a role in building a business?

Think about this for one second.

If you work a 9-5 or commission job, you the employee are generating income for the leader of that organization and getting paid per hour or per sale to do so.

However, if you’re the business owner of a small business or startup, all revenue goes to your business account.

The leverage here is you’re now using your time to build something that will generate positive cashflow instead of giving it away for an hourly wage or commission.

If you don’t have the capital to start a new business, you can always use leverage by taking out a business loan and incrementally paying it back as your business picks up.

Using the banks money to make money is the proper way to leverage someone else’s capital to your advantage.

#2. Day Trading

how to make money during a recession

If you’re already invested in the stock market, then you’ve more than likely heard of day trading.

Day trading uses one of the biggest leveraging tools out there, the stock market/derivatives market.

Here, traders will require intense discipline in order to execute their trades with profit.

Day trading is certainly not for everyone, but if making hundreds of dollars to thousands of dollars per day sounds appealing, you can learn more about it here.

The incredible thing about trading the market is that traders can learn how to make money whether the stock market is booming or crashing.

This means that as long as you’re able to develop the skills necessary to become a consistently profitable trader, you will be able to pivot in a recession and actually make money while most of the economy faces turmoil.

Going on the offense means learning new skills and getting out of your comfort zone to be successful at something outside your 9-5.

franknez day trading

You can follow my personal trading journey on Instagram or Twitter.

#3. Monetizing a Platform

How to prepare for a recession.

Americans are monetizing on Facebook, TikTok, Instagram, YouTube and other platforms such as blogs and podcasts.

If the idea of creating content at scale intrigues you, monetizing a platform could be a great leverage tool for you.

The bigger you grow your audience, the more income you may earn from advertising revenue, affiliate marketing, sponsored content, or other streams.

But the key here is to provide real world value that can help your audience in one form or another.

My blog for example has helped thousands of people invest in the stock and crypto markets for the first time.

Retail investors were able to profit big from investments such as Bitcoin, Shiba Inu Coin, Terra Classic, AMC, and HYMC from early ticker updates on Franknez.com.

Those who took advantage of the information came out profitable before the markets began to tank.

But not everything has to be educational – many creators are publishing content on pretty much any niche that people find interest in.

A platform will help you pivot in a recession by working 24/7 for you.

How to Prepare Personal Finances for a Recession?

In terms of your personal finances, you’ll want to allocate a good chunk of your income into a savings cash account you can build in case of an emergency.

If your income is booming during a recession, consider investing in the S&P 500 index or in rental property.

Many opportunities will present themselves in times of an economic downturn, and when they do, we better be ready.

Becoming Recession-Proof

recession proof
How to prepare for a recession.

Becoming recession-proof is really about taking action.

It’s about creating something or developing new skills that will allow you to overcome any hardships that come your way during economic adversity.

Living paycheck to paycheck is hard, learning new skills is hard, building something new and getting out of our comfort zone is hard, so choose your hard.

You Can Follow Me On: Twitter | Facebook | Instagram

Read: Stocks Retail Investors Can Buy to Build Wealth This Decade

Long-Term Investing vs Short Squeeze Plays vs Day Trading

Long-Term Investing vs Short Squeeze Plays vs Day Trading
Wealth Building: Differences between Long-Term Investing, Short Squeeze Plays, and Day Trading

Today’s article is going to be extremely educational; I’m going over the biggest differences between long-term investing, short squeeze plays, and day trading.

In this article you’re going to discover what makes each one more susceptible than the other to market manipulation and overall risk.

When you’re looking to build wealth in the market, it is important to identify the major differences between the three.

Be sure to bookmark this page so you can come back to it in the future for a mental refresh.

Let’s get started!

franknez.com

Welcome to Franknez.com – join my newsletter to receive more content just like this straight to your inbox.

I’ve helped people learn how to invest in stocks, crypto, and how to day trade options as well.

My goal is to help you take your finances to the next level. Be sure to browse the blog for market news, wealth building tips, and other valuable content.

Let’s dive right into it!

#1. Long-Term investing

Long-term investing is the #1 traditional way to build wealth over a long period of time.

Investors looking to build wealth this way tend to invest in high dividend yielding stocks such as the S&P 500.

Here, an investor’s portfolio compounds over time as dividends are rolled over or reinvested back into the asset – further purchasing more stock on its own.

During the years of retirement, investors may decide to stop reinvesting the dividend and accept the dividend as cash instead.

This is how a dividend stock portfolio may yield investors with big passive income in the form of cashflow many years later.

Many of these stocks are not heavy victims to market manipulation due to the security and minimalistic risk there is to invest in these funds.

Read: The Best Dividend Stocks to Buy for Passive Income

#2. Short Squeeze plays

Short squeeze plays have a high risk/high reward ratio that has attracted many new investors into the market.

When a stock is being heavily shorted, the short interest percentage of the stocks float tends to rise.

This means that with enough buying pressure, investors may increase the probability of squeezing short sellers from their positions.

We saw this occur when AMC ran from $2 per share to $72 per share and when GameStop skyrocketed into the hundred-dollar levels.

While both these two stocks are still heavily shorted, these are just two examples of short squeeze plays where investors could have taken advantage of an opportunity to make big bucks.

Short squeeze plays are more susceptible to market manipulation since market makers tend to have a lot of control of retail investor’s orders.

They may drive share prices down by overleveraging their already bias positions, which means a lot of momentum is required for a short squeeze play to be successful.

Short squeeze plays are a form of swing trades that may last weeks to months of holding a stock before trading it for profit.

This type of investment strategy may be viewed as mid-term investing to cash in big on a rather unique opportunity.

#3. Day Trading

Day trading uses leverage as a multiplier to trade stocks in a short-term timeframe.

What makes this investment strategy attractive to most investors are the possibilities to earn massive gains in such a short period of time.

Traders are earning money whether the market is up or down through ‘put and call options contracts’.

Unlike long-term investing or short squeeze plays that have a buy and hold approach, day trading is a skill that requires focus, discipline, and a deep understanding about the psychology of trading.

Day traders can earn hundreds to thousands and even tens of thousands of dollars on a daily basis (you can view my gains here).

While day trading is mainly a form of income, traders may still allocate earnings towards long-term investments to further build their wealth.

Here’s how you make money trading the S&P 500.
Read: How to Trade Options in The Market with a 9-5

Which investment strategy is best for you?

As investors, we need to identify the best way to take advantage of the tool that is the stock market.

Long-term investors should focus on increasing their income to flood their portfolios with compounding effects.

Short squeeze traders should draw out a macro vision board to determine which path to take after short squeeze profits are secured.

Day traders would be wise to invest a portion of their income towards dividend paying assets or physical assets (such as property or a business) that will produce cashflow.

Building wealth is about having your money work for you so that you can have the time freedom to do what you love most.

If you enjoyed this article, please share it on your favorite social media platform!

I’m curious to know your thoughts, leave a comment down below.

You Can Follow Me On: Twitter | Facebook | Instagram

Read: How to Invest in the Stock Market for Beginners

Here’s How to Play to Get Rich: Stay Diversified

How to get rich - how to build wealth
How to get rich – how to build wealth

If you’re on this blog, there’s no doubt you want to get rich.

Money provides us with options and a lot of money provides us with a lot more options.

If you study wealthy people, none of them got rich quick; it took many years of planning and strategizing.

But one thing wealthy people have in common is that the majority are diversified.

In this article I’m going to break down strategies wealthy people use to get and stay rich.

Welcome to Franknez.com – today, I want to talk about money and getting rich. I know many of you will gain loads of value from this article.

Let’s dive right into it!

Join the newsletter if you’d like to receive more content like this. Be sure to leave a comment at the end of the article letting me know what you got out from this article.

Financial literacy is the foundation

It’s true.

If you don’t yet know how to manage $1,000 then you won’t know how to manage $10,000 or $100,000; let alone $1M.

Financial literacy provides us with the proper foundation we need when learning how to manage money.

You don’t need to earn a lot of money to become financially literate.

You just need to understand what money is and how to let it go.

Many of us were taught to save money and hold on to it for our dear lives.

But money is meant to circulate.

The Latin meaning of currency means to flow, or ‘condition of flowing’.

Just don’t get this confused with spending because understanding the differences will be key to building wealth and getting rich.

Differences between spending money and utilizing money

You spend money on fuel, utilities, the rent or mortage.

You might occasionally spend money on a night out or if you’re treating yourself, on a new pair of Nike’s.

The rich keep their expenses low (in the beginning) and watch their spending.

They build very disciplined spending habits to allow them to utilize that money instead.

So, what are some examples of utilizing money?

The rich utilize their money by creating, buying, or leveraging assets that will produce income.

While you don’t need to earn a lot of money to understand how to manage it, building wealth will require you to find creative ways to substantially increase your income.

This means the rich must either provide some sort of value to society through a business or buy large enough assets that will accommodate to their goals.

When building wealth, money must be used to make more money.

I’m going to break down below the various ways the rich are making this happen for themselves and their families.

Different ways to get rich

There are currently more than 21.9 million millionaires in the U.S and1,700 Americans are joining the list every day.

There are a variety of ways the rich have gotten rich.

But these four have stood out the most in terms of building wealth over the long run and have been the most popular ways to getting rich.

Whether one speaks to you amongst the others, it’s important to note that self-made millionaire’s have created multiple streams of income and do not rely solely on just once source.

Many earn money from all four.

Let’s break them down together.

#1. Start a business

Business owners are the backbone of America.

There are currently more than 31.7 million small businesses in the U.S.

Business owners have the potential to earn an unlimited amount of money which is why starting a business is #1 on this list.

Being a business owner is challenging but it has its perks.

Not only do you get to use your creativity to solve problems for others, but you get to build something incredible from the ground up.

Businesses also provide you with a freedom a 9-5 will never provide.

Maybe you decide to start a business but want to get rich from rental properties.

And that’s 100% okay too.

#2. Get into real estate

Real Estate

Real estate is another big one on this list.

90% of the world’s millionaire’s created wealth through real estate according to studies.

There are really two main paths when it comes to real estate.

You either become a realtor or you invest in rental properties that will yield passive income while you build a real estate portfolio.

One is more of a sales career while the other invests in properties.

If you’re interested in a real estate career, you’ll want to eventually think about selling high ticket properties where the commissions are very high.

Otherwise, using the banks money to buy property and rent it will allow you to add rental property to your portfolio while the equity in your property increases.

The property will be paying for itself, making some profit depending on how much you rent the property for, or earning thousands per month in rental income if purchased with cash.

You may always refinance the property to put money down on a second property and keep building your portfolio.

#3. Invest in stocks

A million new millionaires were created in the stock market in 2021 alone according to CNBC.

This is going to be one of the slowest ways to build wealth.

However, a quicker way to speed up your stock investments is to sell high and wait to re-enter the market when stocks are low.

Depending on your investment strategy, you might opt in for dividend stock investing and just let your money accumulate long-term.

Traditional banks don’t yield any interest, and high yield savings account aren’t much better today.

Putting your money in an index fund such as the S&P 500 (SPY stock or VOO) may yield 8%-10% a year.

That’s an $8,000-$10,000 return on a $100,000 investment.

Your investment will compound over time as you continuously reinvest your dividends back into the index fund.

Billionaire and real estate mogul Manny Koshbin built his real estate empire after cashing in $300,000 from a stock market investment.

He took his investment from the stock market and purchased his very first rental property.

And the rest is history.

Have a strategy and keep multiplying your money.

Read: How to Invest in The Stock Market for Beginners

#4. Provide value to the masses

This strategy to building wealth was limited prior to the internet.

Authors and booksellers sold a product to the masses and made millions in doing so.

Today we’re seeing YouTubers and popular websites provide value to the masses through entertainment and educational content.

Musicians and artists are also building wealth by reaching big audiences.

Well-known artists who’ve made a lot of money in the game also start businesses and invest in rental properties to grow their wealth.

The way to get rich and grow your wealth is to make money and multiply it by reinvesting gains and income in other assets that will yield more income.

Money has to be in motion at all times.

Building wealth takes time

Most millionaires became millionaires between the ages of 45 and 60 years old.

Sometimes people get in on a once in a lifetime investment play that takes off and makes people rich quick.

For some people it was Bitcoin that made them rich quick, or Ethereum, DOGE, SHIB, you name it.

This is why it’s important to stay diversified and plant your fishing lines in a variety of pools that will allow you to create wealth.

I would love to hear about which of these income streams most speaks to you.

Leave a comment below.

You can follow me on: Twitter | Facebook | LinkedIn

Read: 5 Easy Ways You Can Earn Leverage Income: Start Now


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