Why Multiple Streams of Income are a Must

multiple streams

In this day in age, and in a struggling economy, relying on just one source of income can be a risk, particularly if you do not have adequate savings. Many middle class Americans are living paycheck to paycheck, don’t have enough savings to cover expenses and may only be relying on 1-2 incomes.

Having multiple incomes are beneficial in so many ways. How? Multiple incomes can:

  • help you build savings
  • become more financially secure
  • help you live out your passions
  • broaden your skills
  • make you more marketable

It’s just beneficial all the way. Think about yourself, and what you have to offer. Think about your skills and your talents and what you like to do. How can you that into money for yourself?

Here are some ideas:

  • Small business – There are so many opportunities to be
  • Become a distributor – just like small business, there are so many businesses that allow you to work for yourself to become a distributor, and essentially work for yourself.
  • Part-time work, or work overtime
  • Online survey taking – Perfect for someone who wants to share their opinion on various products
  • Mystery shopper – Share your experiences in retail stores and get paid to do it!
  • Sell items that you’ve made – Can you sew? Bake? Build things? Make jewelry?
  • Provide a service – Can you offer dance lessons? Shovel snow? Do landscape?
  • Consulting – Are you an expert in something? Can you share your expertise to companies and businesses?
  • Write a book
  • Become a trainer/workshop facilitator
  • Freelance writer
  • Start a blog 🙂 – There are so many bloggers who are earning an income. It takes hard work but it is definitely possible!
  • Become a virtual assistant – Virtual assistance is an upcoming industry where people are able to work from home earning at great hourly rates
  • Private practice – Are you a therapist who wants to create your own hours?

Comment below and share some things that you can do to generate more income for yourself. If you do have more than one income, how has it benefitted you? 🙂

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12 thoughts on “Why Multiple Streams of Income are a Must

  1. qwertsberry says:

    I think it’s so important for people to be able to avoid living paycheck to paycheck so I love that you wrote this post! For me, I love the idea of staying my own Etsy shop to sell either wall art or web graphic designs. There are so many opportunities, just gotta take em! =)

  2. Victoria says:

    I LOVE this. I’ve been thinking of ways to earn more money. I just opened a etsy shop and I’m pretty new to blogging but I hope I will be able to earn extra income from it. Thanks for giving ways to earn extra cash!

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