“The path of wealth is found in the fulfilment of purpose”
Yes, experts classify income into three main categories: earned income (active income), passive income, rental income. However, this module addresses another class of income called purpose income. This income is not mutually exclusive from the above-mentioned income i.e. you can be generating the above-mentioned income and still generate purpose income.
Identification and fulfilment of purpose cannot be overemphasized in the quest of self-fulfillment. Your purpose is your calling. It’s what you are created to do. It is what makes you successful. The clearer you are about your purpose, the better you can channel your time, skills and talents to add value to people, including yourself and create wealth for yourself. Research has found that purpose-driven people…
- Are four times more likely to be engaged at work, 50 percent more likely to be a leader and have 64 percent higher level of career satisfaction.
- Earn a higher income and have a higher net worth.
- Enjoy 42 percent more contentment overall and live up to seven years longer
Everyone here on earth has a purpose, one which can be fulfilled regardless of the employment status of an individual. This means that fulfilling purpose, likewise financial literacy, is not limited to owning a business. One can be in paid employment or any other employment type and still fulfil purpose. This explains that an individual can be generating earned income, passive or/and portfolio income and still generate purpose income. In some cases, one’s job can help fine-tune the skills and talents that help in fulfilling purpose. For example, one can sell one’s experience and knowledge through online courses or trainings (still in the context of one’s purpose).
Purpose, most time, lies at the intersection of your:
- Strengths (skill-set);
- Passion and
- Value-adding/problem-solving potentials (which can also be referred to your earning potentials)
“Ever more today people have the means to live but not the meaning to live for.”
-Albert Einstein
While fulfilling purpose gives life a meaning, fulfilling purpose and generating income are also not mutually exclusive. There is an earning potential in purpose. When these potentials are well maximised, you have more capacity to generate other types of income (Passive and Rental Income)
Very importantly, do note that financial literacy is not just about getting money. People get involved in different kinds of businesses or mechanisms to get wealth for which they find no fulfilment or long-lasting inspiration. For you to maximise your earning potentials and thereby enhances your ability to generate other types of income, you should choose a mechanism that you are passionate about, derive fulfilment and find long-lasting inspiration. That’s financial literacy!
We believe in you!
To your financial independence and freedom
Module 6: The Stream of Income in Purpose
