Comments on: Passive Income Stream or Debt Elimination Strategy?

By: Scott

Scott — Tue, 08 Jul 2008 21:26:18 +0000

@baglady Penny saved, penny earned would make my grandmother smile. She always said that

@Connie Yes, the public library is an amazing resource for families. They have more than just books. Cds, dvds, internet access, and all the magazines in the world to read. Great tip!

@passive family income You are correct. Passive Income is derived from an asset, although some friends of mine are having a tough time meeting immediate expenses. I try and explain that cutting expenses can be similar to earning more money for them.

By: Scott

Scott — Tue, 08 Jul 2008 21:20:30 +0000

@saph: I agree, cutting back on extras can really help improve the monthly paycheck and make your budget stretch further. We have friends that don’t miss cable and borrow dvd’s to watch occasionally.

@lulugal Thanks for the gas card recommendation. My buddy is not allowed to use credit cards as his wife has but a limit on his spending. But, if the card was only used for gas, that would help them save a little more. I wonder if they have a prepaid gas card that would give you some additional savings.

By: PFI Weekly Updates - July 8 (2008) | Passive Family Income

PFI Weekly Updates - July 8 (2008) | Passive Family Income — Tue, 08 Jul 2008 11:32:41 +0000

[...] – The Passive Dad discusses how reducing your debt is a form of passive [...]

By: passivefamilyincome

passivefamilyincome — Wed, 02 Jul 2008 16:49:05 +0000

Good perspective. I guess I have a hard time considering cutting back on expenses as passive income. I think of it as an asset that I can use to generate more passive income. Basically the same thing – I guess?

By: Connie

Connie — Wed, 02 Jul 2008 01:41:15 +0000

Yes saving and cutting back on expenses is something we all need to be doing now. We’re back to using coupons and shopping for sales. We also stopped renting movies and video games. We can get movies for free from our Public Library. Our daughter is learning to make do with the games she has and find other things to keep her happy & busy like playing with her toys and playing outside.

By: The Baglady

The Baglady — Wed, 02 Jul 2008 00:47:51 +0000

Great post. A penny saved is really better than a penny earned.

By: lulugal11

lulugal11 — Tue, 01 Jul 2008 17:54:31 +0000

Tell your friend he can look for gas rewards cards that will give him cash back when he buys gas…so it is like getting a discount on the gas.

He can also check out the drawing for a free gas card on my blog.

By: Saph @ Walk With Me

Saph @ Walk With Me — Tue, 01 Jul 2008 15:57:28 +0000

It’s all about cutting back on the extras, the non-necessities. We ourselves never had cable and don’t think we will anytime in the near future. We usually watch movies on DVD. We already watch too much TV anyway. And now, there are so many places to watch movies and TV episodes online.