Starting and running a business can be exciting and exhausting at the same time. Whether it's dealing with social media trolls, learning to set boundaries with clients, or saying "no" to brain pickers, the list goes on. When overwhelmed, I like to re-center myself by referring to money quotes and mindset truth bombs for inspiration, especially during times of uncertainty.
10 Passive Income Ideas to Build Wealth
Being a boss lady sometimes feels like I'm on an emotional roller coaster ride all day, every day. It can easily be a love hate relationship.
While I enjoy being a creative and running a business that I truly believe in, sometimes the frustrating aspects of entrepreneurship can get the best of me.
Sometimes repeating these quotes as mantras or affirmations can shift my mood instantly. Here are 7 powerful money mindset quotes that can help you get out of that funk too:
1. Set boundaries with brain pickers.
If someone asks for your time, it’s on you to set boundaries. In my marketing business ( @pinfinitemarketing ), business owners constantly ask for advice on Pinterest SEO.
In my personal finance business ( @notabondgirl ), people are constantly asking for help on passive income strategies.
Now I simply refer people to a blog post or my service rates. My pet peeves are brain pickers and trolls. I’ve learned the hard way to set boundaries.
If someone asks you if they can “pick your brain”, communicate your boundaries upfront.
2. Usually, it's not a "right" or "wrong" decision.
Whether deciding on changing your blog niche or marketing plan, rarely is it a "right or wrong" decision.
This goes for changing careers too! We can’t all afford to quit a job the next day or even the next year.
But we can plan ahead and take appropriate steps towards change when we know it’s time for better pastures.
Only you know when you’ve hit a turning point or breaking point. And sometimes it doesn’t have to be a turning or breaking point.
3. Little by little, a little becomes a lot.
Building a business from the ground up can take years.
The same goes for building passive income streams too. For instance, replacing your corporate salary with passive income doesn’t happen overnight with the stock market.
But when it comes to passive investing, the magic of compound interest adds up! Ready to start investing?
4. Net worth does not determine self worth.
Running a business and making money can be fun. But let’s not get carried away when it comes to net worth and self worth.
You’re always worthy regardless of the number in your bank account. You're always worthy regardless of your job title and career position.
Net worth does not determine self worth.
5. There's no one-size fits all strategy.
For years, I tried different passive income ideas and strategies. I made a ton of mistakes and learned a lot of hard lessons along the way.
Over time, I reached financial independence retire early (FIRE) by replacing my salary with passive income.
I was finally able to leave a career that was no longer a good fit by creating multiple income streams from investments and side hustles.
Ready to create passive income too?
Over the years, I experimented with creating digital products, affiliate marketing, renting out space to index fund investing.
Eventually, I got to get a feel of what I enjoyed doing and let go of the activities that were not as enjoyable.
There are so many ways to create passive income streams. It doesn't mean you have to try every passive income idea out there.
Bottom line: There's no one size fits all passive income strategy.
It can feel overwhelming with all the different passive income strategies these days. Start with one passive income strategy and see which works best for you.
Find out which passive income idea best suits your personality.
In a deep funk? Can't seem to figure out your next move? If you are spinning your wheels, let's put an end to it.
Whether you are an entrepreneur or personal development junkie, I got you covered.
Because heck, I pretty much go through an existential crisis every year. So why not share the lessons learned?!
6. When in doubt, meditate it out.
I quit my corporate job three times without a Plan B.
When I quit Corporate America for good, I also sold my condo and moved across the country.
It was my third time quitting a career without a Plan B. I gave everything away and left all my furniture.
It was time to start a new chapter. So I picked Southern California as my new home.
Just like that.
Things worked out each time I quit but it was definitely scary times. That's why I wrote out all my personal and professional lessons learned along the way.
Most importantly, I learned to get my finances in order to be able to resign from the 9-5 lifestyle for good.
7. Workin' on my money mindset all day, every day.
When it comes to being a corporate dropout, there’s one thing I know for sure. Being a corporate dropout is not as easy or glamorous as it seems on the surface.
There are a lot of unknowns involved. They say fear of missing out (FOMO) is a real thing. Well fear of the unknown is also no joke.
It's a lifelong practice of working on my money mindset and a lifelong adventure of finding my purpose.
While I don't recommend resigning without a plan, sometimes you know when enough is enough.
Creating passive income helped me leave the 9-5 lifestyle once and for all. It wasn't easy leaving a steady paycheck and company benefits behind.
Those golden handcuffs are no joke!
Having passive income allowed me to leap with more peace of mind. To help others create passive income streams, I put together this Passive Income Quiz.
Which passive income idea best suits your personality?