💰The fundamentals of finance

As we move through our personal finance journey, it’s easy to lose track of the basics so we’re taking our last newsletter of the month to dive back into the fundamentals of finance. We’re exploring ways you can make passive income and budget your money to build your wealth more efficiently. Here’s so another week of supercharging your money one step at a time 

- Milan

IN THE STOCKS

• S&P 500 5,099.96 (7.53%)
• NASDAQ 15,927.90 (7.87%)
• Dow Jones 38,239.66 (1.39%)

*Stock data as of closing on April 26th.

THE MONEY BREAKDOWN

“Passive Income”

Let's talk about the ultimate financial dream: passive income. Imagine earning money while you sleep, sip margaritas on a beach, or binge-watch your favorite shows. That's the beauty of passive income—it's money that flows into your pocket with minimal ongoing effort. One classic example is a High Yield Savings Account that gives you a higher interest on your savings and will probably be the easiest money you’ll ever make. Another example is dividend income from stocks. By investing in dividend-paying companies, you can receive regular payments simply for owning shares, turning your investments into income generators. And let's not forget about digital assets like e-books, online courses, or even YouTube videos. Once created, these assets can continue to generate income over time with minimal maintenance, allowing you to reap the rewards long after the initial effort.

But here's the key: building passive income streams requires upfront investment, whether it's money, time, or expertise. It's like planting seeds in a garden—the more you nurture and cultivate them, the more bountiful the harvest. So, whether you're exploring real estate, dividend stocks, or digital ventures, remember to choose investments aligned with your goals, risk tolerance, and interests. With patience, perseverance, and a sprinkle of financial savvy, you'll be well on your way to enjoying the sweet fruits of passive income. Let's start planting those seeds and watch our wealth blossom!
Learn more about passive income and building your wealth here.

MILAN’S HACK OF THE DAY

Create A Budget And Stick To It

Today's money hack might seem like a no-brainer, but trust me, its power is often underestimated: creating a budget and sticking to it. Picture this: your budget is like a roadmap for your financial journey, guiding you through the twists and turns of income and expenses. Start by listing all your sources of income, whether it's your salary, side hustle, or any other cash flow. Then, meticulously jot down every single expense, from rent and groceries to that morning latte. Now, the crucial part: stick to it like glue! Think of your budget as your financial GPS, keeping you on track toward your goals, whether it's saving for a dream vacation or building an emergency fund.

But here's the real magic: when you stick to your budget, you gain more than just financial stability. You cultivate a mindset of mindfulness and intentionality towards your spending habits. Suddenly, that impulse purchase doesn't seem as tempting when you know it's not aligned with your budgeting goals. Plus, with a clear budget in place, you're empowered to make smarter financial decisions, like prioritizing saving and investing for the future. Remember, a budget isn't about restriction; it's about freedom—the freedom to live within your means while working towards your dreams. So, let's buckle down, track those expenses, and watch our financial goals become a reality!