Do you want to increase the number of ways that you are creating income? Do you only have one job to rely on for total support of your family? Do you want to be covered if there is a lay off at your company? Do you want to increase your savings for emergency situations? These are questions that we are all faced with during a recession. Creating multiple streams of income is the key to empowering you to ride through a recession worry free.
Tip#1- Create a side business, such as running errands for senior citizens, operating a traveling car wash, where you wash cars at your clients locations, pet or house sitting, start a catering business, or bake goods to be delivered to your clients, there are many side businesses out there, just find one that works for your schedule and level of investment.
Tip #2 Learn to invest in stocks or commodities. Bank Cd’s, Read books, take a class, and learn how you can make a nice profit to supplement your income very comfortably.
Tip #3 Trade in old Gold or Silver Jewelry that has been sitting in that old jewelry box. Take the proceeds and place them into a savings account where you can earn interest on the money.
Tip #4 Sell old books and items sitting around the house on EBay and Amazon.com; These websites are an easy and convenient way to make a profit on unused items.
Tip #5 Turn a hobby into a cash machine, do you like playing video games, and are you any good? Take those secrets of success and teach them to others via an online class or training session. Are you great at making your own clothes? Teach others how to make their own clothes. Do you enjoy dancing, offer dance classes right from the comfort of your own home or travel to the clients home, now these are just a few hobbies, but take your hobby and turn it into a profitable income stream.
Tip#6 Write E-Books, E-books are becoming an explosive online industry. Many electronic devices, such as iPhones, Kindles and Nooks allow book lovers to download and read books instantly. This would be a great source of supplemental income.
There are many ways to create multiple streams of income but taking the initiative to do so is up to you. You must be willing to break from your normal routine and make your focus of building a security net your priority. Some people are self starters, others require inspiration. It does not matter which one you are, however, it means everything to take action and climb your way to the results that protecting yourself in a recession requires. If you would like further information on ways that you can improve in this area please contact me. Create a plan and make this recession work for you instead of against you. Happy climbing.
Cortence Batiste
Motivational Speaker and Coach
Motivational Speaker and Business Coach
