One of my golden rules of becoming financially independent is to develop multiple streams of income.
Lets face it, we all have multiple streams of outgoings – Mortgage, Council Tax, Electricity, TV Subscriptions, GYM membership, Internet Connection, etc..
How will you deal with those unexpected bills? Save a little and at some point you wont have any choice but to dip into those savings to pay for something unexpected. How do you plan for the future when so many unexpected expenses crop up.
Multiple Streams Of Income
Ok so you have a day job, thats income stream number 1. Why not invest some money in shares, or think about setting up your own business(s). Turn your hobby into a way of making money, are you considered an authority by anyone on a particular subject. You can turn this into a business online by writing a blog about it. There are so many ways to make money online.
The problem most people have is confidence and a presumed lack of knowledge. Learn how to setup a blog free online, which is the simplest and quickest way to get a webpage up, write about what you know, add some Google adsense adverts and you have got yourself a new income stream. Do this for multiple subjects and you start to grow multiple streams of income. Don’t set these up and sit back for too long because your long term success is in the hands of someone else – Google.
Think about developing new business ideas by providing services to others online. How many website owners actually like and have time to write their own content. Think about writing content for them and agree a fee, how many websites are there online – masses of potential customers for you.
This is just one of many ways to make money online and build multiple streams of income.