I’ve discussed very briefly before on how it’s dangerous to just rely on one source of income here. I refer to that post frequently in this one so be sure to read that first. If you’re not subscribed to our email list yet, be sure to subscribe just to the right of this page to get all our new posts immediately in one place. Now, let’s dive into why you should have more than one branch of income.
You are not putting all your chips in one place.
Life is changing and unpredictable. We cannot control the circumstances that are thrown at us but we can be prudent and do something about them before they arrive. DO NOT RELY ON JUST ONE WAY TO GET YOUR MONEY. When we do, we only have security in that one source. In the post I mentioned above, I give the example of someone losing their job, an unfortunate circumstance that happens to millions of people. It’s necessary to have multiple sources of income now than ever as people begin to become comfortable and settled in their jobs.
Also, when you bank on one source, it prevents you from being adaptive. You’re settled in one place and cannot easily flow from different different markets and situations. I talk about this more in the next point.
Raises your overall experience
Building different branches of income automatically forces you to learn different markets. Learning and gaining experience in various markets provides you with more reach and flexibility in your financial life, especially if you apply this experience and knowledge to your own business. Along with this comes numerous connections across different platforms. These networking opportunities have endless potential that can assist you in the right times. With acquiring multiple paths for income, you become a more well-balanced individual.
Finally, my favorite reason/benefit, being unpredictable.
Unpredictability: inability to be predicted; changeability.
– Google or something
When your unpredictable, only you know your next move. Not your enemies or even your allies. With many haters in this world someone is bound to want to stop your success. Keep them on their toes not knowing what you’ll do next by having access to your money in different forms. You will be ever-more harder to sabotage and more secure than when you just had your single job.
I hope you got something out of this post. Make sure you’re subscribed to our free email-list to be certain you will never miss a post from me. Make it a good day.
*I will not just leave you saying one form of income = terrible without giving you options to help you. Check out our “How to make money online category” here.