5 Ways A Full Time Mommy or Daddy Can Increase Her/His Net Worth
Want to know 5 ways to improve your Net Worth even if you are a full time Mommy or Daddy?
I was inspired to do this blog post because when I first calculated and compared my Net Worth from December 31st 2018 to March 30, 2019 I thought it increased by $99,079!!!
However, after looking at my numbers more closely I found that it actually increased by $13,468.
This is still a great increase, not as dramatic…but a great increase.
So let’s dig into our topic today!
As you may or may not know, I am a full-time Mommy, part time investor and internet marketer/coach.
And when I say part time I mean VERY part time, I coach and prep 2 hours a week, and I blog and market Financial Freedom 5 hours a week.
How would you like to work very part time from home (only if you choose), and be a full time MOMMY or DADDY, and STILL increase your Net Worth?!?!
Honestly, my Net Worth is increasing now that I don’t work a full time job MORE than when I did.
How is this possible?
When you understand the simple basics of Financial Freedom and Wealth creation, you will realize that anyone can do it…whether you work a job or if you choose to be part time or if you are just a full time Mommy or Daddy!!!
Read on to see 5 different ways to
#1 Way For Full Time Mommy/Daddy to Improve Net Worth – Learn to Calculate and Track your Net Worth
What you focus on expands.
I track my Net Worth on a monthly basis, because tracking it and calculating it will actually make it grow!
Every time that I have tracked my Net Worth, it has grown at a steady pace.
When I stop tracking, it will tend to stay the same.
Don’t believe it?
Do it for yourself.
It will only take you about 2 hours on a Saturday morning to calculate it.
Do it once a month.
#2 Way For Full Time Mommy/Daddy to Improve Net Worth – Learn the difference between assets and liabilities
Assets make you richer.
Liabilities make you poorer.
I suggest you read Rich Dad Poor Dad by Robert Kiyosaki, as it is an excellent guide to understanding the difference between assets and liabilities.
When you learn what an asset is and what a liability is, you will start to naturally increase your assets and reduce your liabilities.
For example, I don’t have a car, which is a liability.
Cars require insurance, gas, repairs, oil changes, tire changes and rotations, registration, safety checks…they cost money.
Cars do not make you money unless you use them to make money, that is above and beyond all of the expenses of the car.
Did you know the home you live in is a liability?
You need to maintain it, repair it, keep it clean, pay property taxes on it…etc.
We recently turned our home into an AirBnB, and now we are selling it to our manager.
We basically converted a liability into an asset.
Since it was now an asset that makes money as an AirBnB business, the value is higher and we can sell it for more money than we bought it.
Though we are using the money to buy a condo to live in, we still increased our Net Worth by selling our first condo as a business.
We also understand that the condo that we are buying to live in is actually a liability…one that we can afford and choose to buy.
#3 Way For Full Time Mommy/Daddy to Improve Net Worth – Invest for Passive Income
As a parent, do you really have time to get another job?
I don’t think so.
What you want are investments that make you money while you are being a parent.
When we created our first and second AirBnB business, we came to find that it is not a good passive income business, though it is a good active income one.
So we are selling one of them, to get more free time, to someone who wants to have an active income business.
We focus on investments that provide us with income without working.
#4 Way For Full Time Mommy/Daddy to Improve Net Worth
Set up automated ever increasing savings transfers.
I have money transferred into my savings and brokerage accounts automatically, weekly and twice a month.
I increase it by 10% every 3 months.
I also do the same with our joint accounts, my husband’s account, my son’s account…
So our family is saving more and more money from many different sources.
What do we do with that savings?
Invest it for passive income!
The nice thing is that when you don’t think about your money and look at it again, you’ve realized you just have more!
#5 Way For Full Time Mommy/Daddy to Improve Net Worth – Join a mastermind
I host a Finance Freedom Mastermind, and we meet online every week for 40 minutes to create financial freedom goals, create passive income, save, track our numbers, support each other, give each other referrals and business, learn new skills or knowledge together, read new books…
It’s probably the most powerful thing that you can do to improve your Net Worth.
CLICK HERE to join Finance Freedom Training Live
Finance Freedom Training Live is a mastermind program where you learn how to focus on building wealth and passive income streams.
You receive video trainings once a week, that are recordings of actual Finance Freedom Mastermind sessions.
You also get a 1 on 1 live coaching session with a Finance Freedom Coach, as well as access to Office hour with me once a week on Wednesdays at 9am HST / 3pm EST.
I also did 2 other masterminds during the months of February and March.
1 was volunteer staffing the PSI Basic Seminar. If you haven’t taken the Basic seminar I highly recommend it.
CLICK HERE to register for the next PSI Basic Seminar in a city near you.
The 3rd mastermind that I joined in February and March was Mediation 2.0 hosted by the Agape Spiritual Center. You can learn more about Sunday service and classes by CLICKING HERE.
Conclusion
I increased my Net Worth in 3 months following the 5 ways I shared in this blog post.
I want you to understand that you have a power in you to accomplish things you never dreamed possible.
It took me 6 years to pay off $30,000 of debt when I was working a full time job.
In just 3 months, I just increased my Net Worth by $13,468 as a part time business owner, full time mom!!!
I’m sure in a couple of years I’ll be increasing Net Worth by the Millions.
I want you to become a master of your money and do what you love.
This blog post is dedicated to the full time mommy and the full time daddy.
You work 24-7 for your family, and you deserve to grow in wealth and create financial freedom for yourself and your family.
Use this blog post and create your dream life!
About Mey Duldulao
Back in 2011 I had over $30,000 in credit card and line of credit debt, was living paycheck to paycheck and was stressed out over my lack of success in my financial life.
In April of 2016, I became debt free and had a monthly passive income stream. I quit my job on December 23, 2016, and started doing my dream work of mentoring others on what I did to create the freedom to quit my job.
In 2017 we bought our first condo in Waikiki, and we went on 5 weeks of vacation (including a 7 day cruise to the Mexican Riviera)!!!
In 2018 we bought our first investment property!
In 2018 we converted our first condo into our 2nd investment property.
I spend most of my time doing what I dreamed of for years, spending my days with my son Jordan and my husband Jomel, enjoying motherhood and being a wife. I also enjoy researching Financial Freedom and sharing what I learn with my clients and on my blog.
If you want to learn more about how I can help take back control of your money and your time, then CLICK HERE, watch the free video and get started!