The idea of diversifying your income in various ways is to create a well diversified income portfolio with multiple income streams. The point is to start with something that is manageable based on your time and resources and work to build it up from there. It’s not always necessarily quick and easy, but with determination […]
Even though there are so many different ways of making extra money to increase your income, it can still be hard to figure out how. When creating multiple income streams, one way would be to take advantage of your own potential based on hobbies, interests, experience, talents or passions that you already have. Whatever you […]
Having multiple sources of income is not only for people who are looking to build wealth, but it’s a general principle for financial freedom. People that are wealthy have multiple income streams, meaning they earn money by creating additional sources of income. In fact, the average millionaire is known to have 7 different income streams. […]
As important as it is to your financial health, sometimes the difference between assets and liabilities is obvious and sometimes it’s not. What may at first be a liability can become an asset or vise-versa. For example, when you buy a home, that home is a liability because unless you buy it with cash, the […]
People that are wealthy have multiple income streams, meaning they earn money by creating additional sources of income. In fact, the average millionaire is known to have 7 different income streams. Aside from making more money, the reason for having more than one source of income is to reduce the impact to our cash flow […]