Getting a job in a place where you are not a financial investor Is like being a servant.
When you are no longer needed, you get fired. Protect yourself. Think of multiple streams of income – Anonymous
As the economy is shifting, you need to have legitimate and creative sources of extra income. There are opportunities available that people have been using for years now – Franklin Gillette
The above two quotes very well explain the need for a parallel source of income in today’s fast paced economy. It is not always job risk but also the financial risk in every working professional’s life that needs an embankment to stonewall against all monetary risqué.
If you are amongst those decisive group of people who value their financial security and foresee financial freedom as the final curtain, then having more than one source of income should be seen as an exigency and not as any frill. Moreover, being linked to that supplementary source of income shields you and your dependants against all the inescapable ups and downs.
This is that factual knowledge which no financial institution will decipher in its classes but which is learned when every individual is caught in the vicious whirlwind of need, necessity, demand and wealth (beyond that monthly paycheque). This is the mantra through which every wealthy passionate becomes wealthier. Now once you are cognizant with this not so secret mantra, you have the options to go for active, passive or combined sources of second income. Go for diversified industry experiences, so that your income through one insures the slump in other.
Whatever, be the nature of your parallel source of income, it is cardinal to secure your primary income route first.
Always remember that ‘knowledge’ is the fortune cookie which till date is and will be bartered for money. We pay our lawyers and doctors because of the exclusory knowledge only they possess. So the catch is to elevate your knowledge in specific areas, and get paid for it either by imparting it to others or by providing others the solutions through it.
Churn out the options which are atypical and those which are valued by others. It is true that people around are ready to pay for almost anything and everything, be it –tutoring, cooking, pet care, craft ideas, driving and so much more. Opt for freelancing. In fact this is that one gateway through which you can earn through your passion and hobby while equally keeping hold of your full time job.
“You can think of freelancing as volatile and risky, or as flexible and opportunity-rich. Doesn’t having multiple sources of income and multiple moneymaking skills sound less risky than putting all your eggs in one employer’s basket? Freelancing lets you shift gears when the world does.” – Sara Horowitz
Apart from freelancing there are so many other multifarious tasks which can be executed parallel to our primary source of income. Baking, mentoring, tutoring, baby sitting, pet sitting, weekend guide, blogging and others are few of them.
So get up and get going!