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Welcome to the millionaire diva series where I show you how you too can become a millionaire diva even if you’re starting out with nothing just like I did. Yesterday we talked about calculating your net worth before starting to invest. Today you’re gonna get clarity on your cash flow situation, which is a super important steps in investing for beginners.
This is what the fancy pants of Wall Street call: your statement of income and expenses.
why is this even important? Because you need to be cash-flow positive before you start investing.
Investing is NOT meant to CREATE cash flow. It’s meant to make your money that you already make, work for you. Don’t listen to those gurus out there trying to sell you on day trading. The only person who gets rich when you day trade, is your broker.
Here’s how to figure out if you’re cash flow negative or positive:
First: list all of your monthly income. Here are some examples:
Second, list everything you contribute to your savings on a monthly basis. Here are some examples:
Third. List your monthly expenses.
Subtract your expenses and contributions from your income and Willa! You’ll get either a negative or a positive number. Follow for the next step on how to invest your money.
ALL INFORMATION PROVIDED IS FOR GENERAL INFORMATIONAL AND EDUCATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE INVESTMENT ADVICE. THE INFORMATION CONTAINED IN THIS VIDEO IS INTENDED TO BE TRUTHFUL AND NOT MISLEADING, AS REQUIRED BY FTC REGULATIONS. INVESTDIVA.COM, KIANA DANIAL, AND KPHR CAPITAL, LLC ARE NOT REGISTERED OR LICENSED AS INVESTMENT ADVISERS WITH THE SEC. INVESTDIVA.COM, KIANA DANIAL, AND KPHR CAPITAL, LLC DOES NOT OFFER PERSONALIZED INVESTMENT ADVICE. ONLY YOUR REGISTERED/LICENSED FINANCIAL ADVISOR CAN GIVE YOU PERSONALIZED INVESTMENT ADVICE. INVESTDIVA.COM, KIANA DANIAL, AND KPHR CAPITAL, LLC AND ITS AFFILIATES ARE NOT LICENSED/REGISTERED TO MAKE, AND DO NOT OFFER, PERSONALIZED INVESTMENT OR FINANCIAL ADVICE AS DEFINED BY THE SEC. INVESTING INVOLVES SUBSTANTIAL RISK. RESULTS ARE NOT GUARANTEED.
#investingforbeginners #investing101 #Shorts
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