You won't like my earned income definition. Although it's true and accurate, it's probably NOT something you want to hear. Having said that, here's my earned income definition...
It's simply you doing any kind of work (W) to get money flowing into your account. And as long as you keep on working, earned income flows into your account. Read more about how money flows into and out of your account by clicking here
Here's the cashflow pipe for "most of us"...
To learn more about the cashflow pipe, click here
So, rather working harder and longer... W income... I'm focusing on increasing P income where I don't have to do any work. This is my "lazy man's way of creating money".
Click here to learn why most of us don't have Free money in our cashflow pipe.
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Earned income is the oldest and still most widely used way of creating money. Earned income is commonly known as a "salary." You work for every penny you earn -- therefore the "W" in our cashflow pipe.
The biggest advantage of earning a salary is that it's safe. Certain. And always there at the end of each month.
But unfortunately it's also the most boring, dull and tiring way of getting money flowing into your account.
Blech!
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Earned Income Definition And The Time-For-Money Trap
Many, many years ago our forefathers used buckets, pails and barrels to carry water from wells to their homes. This setup worked very well giving them their daily water. Only problem was that once they tired and wanted to rest they didn't have water.
What's more, our forefathers quickly figured out that they can get more water simply by using bigger buckets or by carrying faster.
Exactly the same applies when it comes to earned income. Most of us automatically make the same mistake to work longer hours or go find a higher paying job just to earn more.
But unless you find the "other" easier way you'll be locked up exchanging your time for money -- the so-called time-for-money trap.
Today we still live in a bucket-carrying world. We're just exchanging a "bucket of our time" for a "bucket of money." Or stated differently, we work for it -- W cashflow!
I'm not saying there's anything wrong with this approach. Only problem is, there IS actually an easier way... that of increasing your income without working for every extra penny. And you definitely do the work only once!
Click here to learn more about increasing your income by building P cashflow.
Earned Income Definition >> Home Page
Source : http://www.cashflowclever.com/earnedincomedefinition.html
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