There was a time, back in the 1950s when families survived on the income of a single breadwinner. These days, many families struggle around the world, even with two-income streams, and with the cost of living increasing daily, that´s likely to get worse, rather than better, in the future.
Have you asked yourself – how many streams of income do you have right now? If the answer is no, from the bottom of my heart, ask yourself that question. If the answer is yes, every useful information or education can help.
Creating multiple income streams
Did you know that the average millionaire has 7 sources of income?
I have been following one of the successful people in the world when I researched the Internet about making money online. His name is Warren Buffet. Here is his quote that inspired me:
Quotes about multiple sources of income; image from John Spencer Ellis site.
By that means, never limit yourself by just 1 source of income.
Most people are living from paycheck to paycheck, and when something goes wrong, things go from bad to worse, fast.
The secret to ongoing wealth
The very rich people have always known that the secret to ongoing wealth and abundance is to diversity. They make sure that they have several income streams, so if one isn´t performing, they ALWAYS have a backup plan.
Do you have a backup plan? In case something goes wrong, and your business fails, or you lose your job? Most people don´t. As I mentioned before, most of them live from one salary to another.
Think of it as a river. Make sure your income stream works the same way – many smaller streams and tributaries flowing into your account. If one income stream fails, you won´t be “up the creek without a paddle”.
There is something most people at employee positions don´t realize, and that is, that while they may think they are successful, most of them are one paycheck away from a financial crash.
Should the company they work for lay them off, or close down, they´ll be unable to meet their mortgage payments and other responsibilities, and within a few weeks, they´ll be in serious trouble!
Don´t let the flashy cars, the nice house, or fancy clothes fool you – most of those employees don´t own them, they´re paying them off. In essence, they are RENTING their lifestyle, and it can all be taken in a matter of weeks.
That´s why my message is that the only way to beat the system is to make sure that you have multiple income streams.
Where You Can Start Generating Multiple Streams Of Income?
1) write an E-Book – you can write your own book in pdf format, and simply sell it on Amazon.com
2) Sell Your Own Products On The Internet
If you´re interested to create another stream of income, you can always sell a product online. People start small businesses on the Internet. If you consider selling a product would be your alley, then don´t be shy to give it a shot. Just make sure to take the first steps with this one.
3) Try Affiliate Marketing And Make Sales
Affiliate Marketing is basically promoting other people´s digital products and services to earn a commission per sale. If you´re someone working an ordinary job, you can start withing affiliate marketing online business
4) Create And Sell An Online Course
Some people make money on the Internet by selling online courses.
There are many online course creators making 7-figures per year selling their online courses.
And the best part is, there is probably an audience for just about anything you are willing to teach. For example, you could create a course on everything from web development to gardening; painting to woodworking.
Whether you have a job or not, you should start creating multiple streams of income. I recommend you start now. In today´s article, I have shared ways you can do so, but there are plenty of other ways.
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