People Should Not Have to Work as Hard as Their Money.

• Author: Halik, Nik
• Position: BUSINESS & FINANCE - Financial management tips

When a holiday-induced three-day weekend comes along, many people look forward to getting an extra day away from the office to spend with their family and friends--but what if you could enjoy a five-day weekend, and what If it was every week, instead of just a few times a year? The keys to living that lifestyle are focus and the ability to create passive income.

Active income only happens when you work for it--by putting in 40 hours a week at a job, for instance. Passive income, such as rental income or income on investments, does not require manpower.

Here are some tips for people who want to start creating wealth for themselves so they can enjoy more time at leisure:

* Have your money work for you 24 hours a day, seven days a week. With the advent of the Internet, there are more options than ever for people to create passive income in online businesses, plus businesses such as real estate.

* Restructure your loans. Roll short-term, high-interest loans into long-term, low-interest, tax-deductible loans.

* If you are in debt, attack one loan at a time. The loan you choose to tackle first may not necessarily be the loan with the highest interest rate, depending upon the finance rate of the loan and...