So I'd like to start off Monday by saying, happy Monday and if you had a good weekend good for you. Now back to Monday...Just for the M in Monday I'd like to write about an important topic that begins with an M. That topic is MULTIPLE INCOME STREAMS!!!((loud trumpets and a real royal intro)). So now that most of us have gotten over the fact that we can't be American Idols, we work =) ;and more common than not, we all imagine a day when money is no object to us. Or is that feeling truly something different? Is that feeling really one of hope with no direction? I think it might be, just a little bit if not completely. When I talk to clients, friends and family I often hear dreams but no plans or goals with no true path of success attached. Well when I begin to consult my fans I make a budget/expense for their individual financial situation. After presenting them with a black and white form of their abilities to spend and save I begin probing them about their financial goals. This is when they tell me all about where they plan to be and want to be and then thats when I ask them how they expect or see themselves making it to that level with what we have in front of us on paper. The first and most common answer is usually, "I'll save" ((small chuckle)) and the occasional blank quiet awkward stare in silence is my favorite. With all jokes aside, the person in front of me realizes that achieving their goals is most likely going to demand more from them. What that is for most is an additional stream of income. Multiple income streams are how most business make profits and reduce the risk of monetary loss. For individuals it does the same but it also adds a type personal freedom and flexibility while taking another. What I'm saying is that when you have multiple sources of funds to earn from, you now have created more opportunities to touch money, more often, and this usually results in more income. While more money is being made more time is being spent so be aware if you have children that require a lot of your attention or other obligations you may have. I like to steer my fans towards turning a hobby or interest into a profitable time consumer. Depending on what kind of work you perform, contracting your services is always a reasonable option. This allows you to stay in-line with your field of profession while limiting the amount of obligation you dedicate to the contractor. Creating simple products such as candles is a simple way of realizing additional income. In an age when over one billion people are connected to the internet it's safe to say a few people will be interested in your candles, as long as they melt....better yet if they don't melt. The point of this is to filter a bit more wealth to you for you to continue building with. Once you find a steady source of income that is reasonable sustainable then begin creating a purpose for the funds extracted from that investment. Whether it be another investment or simply saving, never and I repeat, NEVER leave money unto itself. It will leave you. For anyone who hasn't figured this out by now, creating additional income for yourself means creating additional work for yourself so be mindful of that when you consider the task. But don't be afraid and keep your mind healthy.
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