Financial Term Du Jour: Passive Income

Ahhhh, how I love this concept!

I mean, seriously, what could possibly be better than making money while you sleep so that you can serve people by doing things that you truly love instead of working a j.o.b. doing something you’re kind of meh about for taxable income that doesn’t always seem to go as far as you’d like?

This is what makes passive income one of my favorite financial terms and the first one to be explored in my blog!

One thing I appreciate about passive income is its simplicity.  Passive.  Income.  Money you make without expending energy for it.  Boom.


Now, don’t get me wrong, you will need to spend time and energy investing in things that can create passive income streams for you, like-wait for it-Real Estate!! Other forms include royalties from books, movie scripts, music, etc.  Could be income from a blog or from an online store.  Once you set up the product, the money gets generated while you sleep and move on to doing something else you enjoy.

There are also cryptocurrency mining companies that pay investors back on a weekly basis that provide passive income as well.  I have been looking into these and having taken the plunge yet but I am considering investing a small amount to see how it goes.  Maybe I’ll do it just to write about the experience…


I highly recommend you read Rich Dad Poor Dad by Robert Kiyosaki to gain more insight about terms like this, as there is a lot more to it than just simply buying a property.

“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.”

-Zig Ziglar

I think it’s good to remember that money can’t buy you everything-but it can buy many things, including options and the freedom to choose what you do with your time.

Time is the purest and most valuable currency.


Time, in my opinion, is the purest and most valuable currency and I am working every day to free mine up to do more of the things I love and serve more and more people with my gifts.  This is what brings me tons of joy, and I want the same for everyone.

I hope that all who read this will be inspired to look into how passive income may help make life’s dreams come true and take steps to make it happen.

As Captain Planet would say, “the power is yours!”

Freedom Fuel-Free Budgeting Tool

I am a long-time fan of budgeting.  Practicing the art and science of budgeting is very useful in helping you get real with your financial habits and provide you a baseline from which to measure and modify your spending and saving/investing energy.  This is something that my mother instilled in me, along with the belief that all debt is bad and should be avoided at all costs.  I am eternally grateful to her for imparting her wisdom as it has allowed me to live debt-free to this day.

Now that I have explored the world of financial education by feeding my brain with such delightful reads as Rich Dad Poor Dad and Retire Young Retire Rich, I no longer look at debt the same way.  While I still avoid acquiring “bad debt” (debt accrued on credit cards or by taking out auto or home loans), I am an OPM convert.  OPM stands for Other People’s Money, and if becoming financially free is your goal, as it is mine, then OPM is what you want to leverage to build your real estate investments upon.

So! This is barely scratching the surface of investing that I highly recommend everyone look into.  More on investing later!

Today I want to share my new and improved budgeting tool that I created to help keep my spending in line so that I can invest more of my income in investments that pay me. 

I am reminded of a dialysis nursing preceptor who told me: “if you are working then you want your equipment to be working also.”

I am upgrading this sentiment to: “if you are working you want your money to be working also…so that eventually you can stop working and your money will work for you!”

So far I have been using this tool for the better part of December and it has really helped to keep me in line with my spending, in spite of the holiday shopping season.

I designed this spreadsheet on Google Sheets-for free!! And I am really excited to share it because I think that others may find this a helpful tool as well.

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I’ve created formulas that do all the calculations for you, all you need to do is input the amounts coming in/going out.  One thing I’d like to share is how to create a sum equation within a cell.  This is useful when you make more than one purchase in one category per day.

Let’s say that you buy groceries at 3 different places on one day.  You spend $25 at your local farmer’s market, $13.56 at Trader Joe’s and $20 at a local fish market.

Within the cell (B2 in the photo below) you will click your mouse and type:

  1. =
  2. SUM(
  3. Then enter the amounts followed by “+” sign
  4. End the equation with )
  5. Hit enter
Place your equation of “=SUM(x+x+x)”
Once you hit enter the total amount will be displayed in the cell.

If you want to see the full equation you can click inside the cell and the formula will be displayed in the “fx” box (see 2nd photo above).

Try it out by following the link to the Google Sheet here.******

******Note: Please do not edit the sheet itself, if you do, your information will be visible to anyone in the world who accesses the link!! Instead, make a COPY of the spreadsheet and save it to your Google docs account  by going to File and select Make a Copy. 

You can also download it onto your computer in Excel format to edit, PDF format to save for your records, etc.  I personally like to keep the spreadsheet in my Google account so that I can access it from any computer/my phone any time I want to add anything to it.

I really hope you find this useful.  To your financial freedom!!

Questions? Suggestions? Leave a comment!