As I was talking to my colleagues about manage funds & investment, I realised there is big caveat to this. One cannot the investment journey until they are debt free.
Debt can be classified as managed and unmanaged. Essentially if you are tied down by credit-card, personal loans, buy now pay later systems, etc., it is bad idea to start any sort of investment. Such debts are unmanged. If you only have assest base debts, then it is ok start the journey of investment, passive income. Asset base debts are managed debt like house-mortage.
Your car is not an asset. It is liability. it is not generating wealth/revenue. Any debt associated with it is unmanaged
If you're paying minimum payments on your credit cards, please do not start investment journey. But it doesn't mean you will never be able to start the ladder of investment and passive income.
If you're a freeloader, essentially paying your credit card , and paying all your unmange debt on time, then it is easy to have this false sense that you're doing well and should start the investment journey. Hold your horses!! Let say if you have three credit cards with total limit (not balance) of $15,000, then you should have $15,000 sitting in your bank account as well.
Amount of your own money (cash equivalent) is equal or greater than your unmanaged debt then you can start on your investment journey and hence you will be able to grow money on tree.
If you have no debts or only have managed debt (house mortgage) and/or have unmanaged debt with cash equvivalent in your hand, then the good news is you should be able start the growing money journey.
Disclaimer I am random person on internet. Your financial situation is unique to you & advise on this website are general in nature. Please consult a licensed financial advisor for tailor advise for yourself