What would you do with an extra $25 per month?
Yes, that’s a very small amount but, tell me…
…do you have a plan for turning it into passive income?
Let’s start 2023 by adding a wealth building habit.
Let’s figure out a good process for turning active income, no matter how small, into passive assets that make money for you month after month.
If you consistently did this, you’ll have a powerful, money-making habit in just a few months!
Why Focus on Small Dollars?
Here are two good reasons why small investments are important:
1 – They allow you to practice wealth principles that reduce your reliance on your active income. Imagine owning a big portfolio of small passive investments that formed a large cash flow. Wouldn’t that feel good?
2 – You position yourself to capture the power of compounding interest. By reinvesting your passive income, you gain a bit more security and expose yourself to what Albert Einstein called the 8th wonder of the world. His famous quote regarding compounding interest goes” He who understands it, earns it; he who doesn’t, pays it”.
What Can You Do with Just $25?
One idea is peer-to-peer (P2P) lending. I like it because it’s not tied to the stock market.
It’s a basic thing that’s easily understandable.
Here are a few P2P lending platforms that allow you to invest as little as $25:A. LendingClub allows you to lend money to individual borrowers or small businesses.
B. Prosper allows you to invest in personal loans.
C. Upstart focuses on loans to young, creditworthy borrowers.D. Funding Circle enables you to lend money to small businesses.
E. Peerform helps you lend money to individuals and small businesses.
So go ahead and start putting your small dollars to work.
What I’ll Be Doing
I’ve decided to direct a small portion of the money I make from my rental business into P2P loans.
That way my passive income can earn passive income… and that’s a big deal!
Hope this gets you thinking.
If you’re looking to kick start your passive income journey, check out my workbook: 6 Steps to $2,000 per Month of Passive Income Using Real Estate