How you could redefine your income this financial year

Have you ever wondered what the definition for ‘insanity’ is? A learned friend painted to me his version of modern insanity. It sounded appalling and definitely worth a second thought. To him, ‘Insanity is doing the same thing over and over while expecting a different outcome.’  He went on to pose a question that left me mum. He asked, ‘What happens then when the republic is inhabited by ‘insane’ folks?’

With all due respect, it would not be my pleasure to discuss insanity on this platform. However, in a nutshell, what my friend was trying to drive home was that modern day problems are as a result of our failure, or may be fear, to adopt new solutions. Roughly three weeks ago, the budget for the financial year 2011/12 was read implying the country had turned on a different financial page. This happened despite most of us still treading on our aged financial plans that are highly characterized by fixed incomes. With the recent hue and cry against the surging commodity prices, many of us have been bent on controlling costs and paying no regard to incomes. Well, just how then can you redefine your income this financial year?

Read More

My journey into making money off a blog

Below is a guest post by Felix Wakweika. He is a passionate blogger who writes mainly about his personal experiences. For more of his work, visit the address www.wakweika.comxa.com. You can also connect to him via Facebook (http://www.facebook.com/wakweika).

Felix Wakweika

I have always wanted to write about anything but mostly write about things I experience in my life. I tried making a journal but I realised I was missing lots of  days and finally I gave up. Then I discovered blogging. With my fascination for computers and technology, this was a really awesome fusion of my two passions; writing and technology. I set one up recently. I was told by a friend who is more versed in the field that I could blog and make some money while am at it so I ventured into finding different ways of making money off a blog. As I read various posts on how to succeed in this field I noticed that when most people think of monetization, they think AdSense, sponsored posts, affiliate sales, or text links. But the biggest sites in the world don’t use any of those techniques. They get more creative than that. Here are two examples I can illustrate this with...

Read More

The Cash Flow Quadrant Board Game Review

This week on Investor Watch, Wealth Building Strategies is reviewing the electronic version of the Cash Flow Quadrant Board game. Designed by the author of the famous book, Rich Dad Poor Dad, the game is known for its ability to instill basic financial skills and quite uncommon, a business acumen to individuals that barely learnt rote finance in school. The game is available in three collections; Cashflow 101, Cashflow 202 and Cashflow for kids.

Cashflow 101 
According to the author, Robert Kiyosaki, Cashflow 101’s design is based on the fundamentals of trading. Also commonly known as the ‘Rat Race’, Cashflow 101 depicts the lay man’s financial life, one characterized by ‘Go to school, get a job, go to work, go home and pay bills with no hope of ever accomplishing anything else’ Well, I wondered why on earth Kiyosaki chose to call it the rat race... A few days ago, a rat sneaked to my bed room. Fortunately or unfortunately, am really petrified of these small creatures. I didn’t manage to kill it but after pelting the floor with shoes and empty boxes, it narrowly escaped. The following day, the same rat showed up but this time I mustered my courage and killed it. Had the rat known of the imminent danger in my house, would it have bothered a revisit? 

Read More