I'm known for my two “big” debt pay off stories – the $10,000 I paid off at age 23 while living and working in New York City, and my infamous $8,000 in 90-day challenge. While the first time I paid off all that debt was due to good old fashioned budgeting and “tightening the belt,” the $8,000 in 90 days was a feat only accomplished by my having multiple streams of income.
I've been a proponent of multiple income streams pretty much since I started blogging, but I wanted to share another, more personal story with you.
The Real Reason I Believe Multiple Income Streams are So Important
As many of you know, around the first of June, I quit blogging full time and went back to work at a full-time job….. (read about it here.) I didn't blog about it, because I was actually waiting to see if I could go back to work, if I could make it stick.
Surprise to no one…..the first job I was at….I hated it. After making the decision to “go with my gut,” I quit…six weeks in and left to go to another job. Now, I'm not telling you this story because I think job-hopping is a good thing.
But listening to your inner voice is always a win. However, the only reason I was able to honor my feelings and make my own choices is that money wasn't the main reason why I was working.
I know we all have bills to pay.
But having multiple streams of income will empower you to make all kinds of “risky” choices. It allows you the freedom to follow your heart, your gut, and your conscience when need be.
And even if they never become more than money-making hobbies, having side streams of income gives you options. Things to fall back on. Which is why I personally feel promoting them are so important.
We no longer have to be full-time corporate slaves. We can be full (or part time!) masters of our own destiny.
And it took going back “in house” to really hit that home for me.
9 Fantastic Pieces of Content to Help You Build Those Multiple Income Streams
- Here's a great piece from Entrepreneur on 7.1 steps to creating multiple income streams. Says it better than I could!
- The most common multiple income streams.
- How to start making money with affiliates if you're a beginner.
- How to build online digital products like workbooks and e-books.
- Side hustles even busy people can do.
- If you want to start a side business (not just a one time hustle for money) here's how.
- Creating Multiple Streams of Income [The His and Her Money Podcast] – one of the most popular podcasts I've ever done with Tai and Taalat of His and Her Money. Even if you don't want multiple streams of income, this is a GREAT podcast to check out!
- 250 Bloggers Tell You How to Make Money Online [BlogLivin] – The title explains it all!
- 8 important tips to remember when you're creating these revenue opportunities.
Are you inspired yet? Tell me, what's the next income stream you're going to try to create in your financial life?