Entry 1: Starting from Scratch

The CashFlow Diary - Starting From Scratch Header

Welcome to my blog or better known as my diary of my journey to financial freedom. The point of this public diary is not just for myself but for anyone that is struggling financially or just wants to improve their fianancial knowledge. I encourage everyone to share this with your friends and family. I want to help as many people as I possibly can.

I would like to start off my saying that I have no real life experience at this point in time (06/09/2020) with a passive income. I have started getting into stocks through Acorns. So far I have seen definite growth but nothing to brag about. In all reality I don’t believe this strategy is going to get me to financial independence, however it is a good way to start out. I would highly recommend this to a person that wants to “Play it Safe”. Playing it safe isn’t really what this diary is about though. So if you are that type of person I suggest you stick with my “safe” diary entries.

Moving on…

The format in which I present my ideas may change over time. I don’t plan on making a book out of this experience. That may change in the future though. Please keep in mind that I am not a writer so you may need to Contact Me if you would like more explanation on a certain entry or topic.

Anyways – I think my first question is “Where do I begin?”. I think this is one of the most difficult questions for anyone on there way to financial independence. What do I start with? What knowledge do I need to acquire to be financially free? What books do I need to read? Should I just try things and if they fail, move on? (I think this one is in some ways a good idea) The question I think that anyone should focus on at the beginning is “What knowledge do I need to acquire to be financially free?”

So what knowledge do you need to be financially free? I think this is a broad topic. It’s difficult to find the truth and direct facts in the age of the internet. It seems like everyone is writing on “How to be rich”. I think all of this is complete and utter crap. I think the perspective here is completely incorrect. The topic should be “How to become financially literate and knowledgeable”. I want to build a solid foundation and in order to do that I need to acquire the knowledge need to become actionable.

Trust me I am no different than anyone reading this entry. I have tried Googling “How to be rich” or “How to be financially independent”. I believe the problem with these searches are the overwhelming deceptive and false information that people bring to the table. Usually the information is in a very ambiguous form or one that doesn’t apply. For example: I am not going to create music. I don’t poses that gift. It seems that people just want to “puke” out all the options that leverage the new age websites. Don’t get me wrong, sites like TikTok and Youtube do provide ways to make substantial income. However, they are most likely fleeting and push you into the lifestyle of “Keeping up with the Jones'”. That is not the lifestyle I want.

I am going to work hard to build a passive income. That’s the most simple form of what I plan on accomplishing. The sidecar to that is to help other people (you) build your passive income in whichever way(s) I can. So with that being said here is my first task that I am setting for my self.

  1. Build my financial knowledge (Become financially literate)
    • Research Books
    • Read Them

Until next time…

Come back tomorrow for the first book I will read. Please subscribe to get my daily Diary entries directly into your inbox.

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