Passive income – is it achievable for regular Pinoys?

I was really depressed in 2014. I wanted to quit my job and be a SAHM. Although my heart screams home, my logical mind kept on saying it ain't the right time. Living in Dubai is expensive, and with our kids studying, rents to pay, and our everyday expenses, a one-income household might not be enough.

For sure I've heard the term passive income before but only in 2014 that I started seriously researching about it - what does it really mean? How can I have that? What are different ways to earn passive income...

They said one can earn passive income from book royalties, rental properties, businesses, dividend stocks, blogs, online courses... the list goes on. The idea that I can earn while still being an employee and without working harder intrigued and enticed me. Who wouldn't want that?

You see, in 2014, I didn't have any kind of passive income source. No stocks, no business, no blog, no nothing. I was a regular working mom, seeing my kids maybe 2-3 hours a day, with a routine of 'wake up - work - go home - dinner - sleep' then repeat. It was boring, tiring, sad, and totally draining. So my question then was - HOW CAN I ACHIEVE FINANCIAL FREEDOM?

That's when my journey started...

I started researching stocks - what it is, how does it work, where can I get it, how to apply for it - and the answers I got were overwhelmingly difficult to comprehend. My zero financial brain can't understand anything so I quit <Post note: In 2017, I opened my own stock portfolio with COL Financial and I created a free tutorial on how to open an account with them. I needed to pay just to get this information and I thought it was unfair because it's so simple. So I decided to share this info away - for free!!! Go to this page and get it - DOWNLOAD THE FREE E-BOOK HERE)

Then I thought, how about business? What can I sell? That's when I saw Daphne Osena Paez selling medallions. I really love them. But hers are set in 14k gold, and in Dubai no one sells 14k so I set mine in 18k yellow gold. I was able to sell a few of them but I was scared to go all out since Dubai is quite strict with business permits even if you're just selling home baked cookies, so I needed to stop (P.S. I have big plans to relaunch Allyson & Cole probably next year. Follow its Facebook page and be the first to know!)

Around the same time, I started blogging. I never thought of myself as a good writer. My grammar ain't perfect, I'm lazy to proof-read, I was even told by a former boss to improve on my writing skills! But heck, why not!

So I started with a blog called You Deserve It in 2015. Followed by lifestyle/mommy blog called Filipina Expat a year after. Over time, my posts started to focus more on how we can save, how to start a business, how to achieve our dreams - basically money mindset stuff. I've seen how consciously practicing an abundant mindset helped me achieve so much in a short span of time, and I want to share this 'trick' with others.

Filipina Expat had a good run but I knew I needed to create a different platform for my money mindset blog posts. And that's when I started The Wealthy Pinay in late 2017. From simply writing blog posts, I am now invited to organize events, provide talks and conduct training. The best part? I'm truly earning money passively by offering courses and workshops online - just by teaching what I know and what I love to do.

It might sound so easy, right? But let me tell you some secrets...

It ain't as sexy and easy as it sounds. Starting it might be a breeze but getting to the 'passive income' part requires massive money block clearing.

Money Blocks

Also known as limiting beliefs, money blocks are negative voices inside our head telling us things like "you're not good enough" "work harder" "easy money is dirty money" "might work for them but not for you". The thing is, these blocks are embedded in our subconscious and we act without really thinking about them. Our actions and decisions are all triggered by our beliefs (limiting or not) and unless we become aware of them, we will be forever in a cycle of dreaming but never really actually achieving our dreams.

Whenever you think of creating a passive income stream, do any of these thoughts pop up?

"Gustong-gusto ko, pero wala akong alam."
"May idea na ko pero wala akong pera pang start."
"Ang hirap kasi may trabaho ako. Sobrang busy."
"Ang liliit pa kasi ng mga anak. Tsaka na pag medyo malaki na sila."
"Na-try ko na dati pero nalugi. Mahirap mag negosyo."

Do you do things everything on your own?
Are you afraid to read emails or messages?
Do you feel shy and icky selling anything?
Do you have a hard time saying no?
Do you keep on buying stuff even though you can't afford them?
Do you deprive yourself of buying stuff even though you can afford it?

Answering yes to any of these means you have a money block to clear. And for passive income - the number one thing you have to release is the belief that YOU SHOULD WORK HARD FOR MONEY. Money without hard work is dirty. Money won't come if you're lazy. Money doesn't grow in trees.

And I get it. Our parents work hard for money. Everyone we know is working hard for their money. And we've heard so many stories of people who won the lottery and just squandered their wealth away. This just proves that easy come, easy go, right?

When I was still working, I always felt bad earning way more compared to people around me. I don't feel deserving of it. Sure, I'm frequently told I'm an asset to the company but compared to those who need to be up their feet for 12 hours, spend 5 hours everyday commuting, have to endure with a$$ bosses, customers, or colleagues, my work life is relatively very easy. And to earn 10x more than them feels wrong.

The weird thing about money blocks is that you uncover more of them once you thought you smashed one. When I was finally at peace of earning more than others (as a result my benefits and compensation shoot up further), the next thing that pops out is the belief that I need to share everything I have!
If someone asked for help, I should say yes.
Whenever we dine out, I should treat.
Since I have money, it's wrong to say no to everyone asking for help.

Even when their reason is due to bad financial decisions on their part, I always feel obligated to give even when I feel taken advantage of.
That's sad.
Nowadays though, I'm being more conscious of this particular money block and I tell myself that I've always been sharing and giving (money, time, knowledge) and I shouldn't feel guilty for saying no from time to time.

It's okay to earn passively

I took so many mindset clearing before I was finally able to sell my online workshops. Aside from mindset, there was the practical stuff that needed to be learned as well - SEO, newsletter, web design.

And this is what I tell myself whenever I feel bad for charging - it's ok to receive money for my effort and knowledge. It doesn't matter if this thing is easy for me. It's only easy now because I spent money, experience, and hundreds of hours to learn everything I know now. Besides, I still provide help by giving valuable advice and tips on my blog (like this article), through Pinay Money Mindset group, and through our regular newsletter.

Do you want to have a passive income?
Do you believe that you can live a financially free life without really working?

If you answer yes to Question 1 and said no to Question 2, it's safe to say that you have a few limiting beliefs about passive income. If you put in the hours and the work to create your passive income stream, it's okay to receive money for it even after 10, 20, 50 years from now.

Passive income is a money mindset game. We need to shift so many beliefs that has been ingrained in our subconscious since our childhood. Once we learn to release these money blocks, I've noticed that taking the practical steps follows easily. By doing the mindset+action combo, achieving our goals become less resistant.

In my next blog post, I'll share how by teaching what you know, it's easy to generate a steady source of income. Sounds too good to be true? Then watch out for the next post next week. Ciao!

Live The Life and Business You Have Imagined!

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