Economic Disaster Insurance: Multiple Streams of Income

Posted By on July 10, 2014

By Devin S. Standard- Frugal Lifestyle Coach

In today’s environment, surprise medical expenses, a company bankruptcy, catastrophic engine failure or other unforeseen personal disasters may occur at any time. Another looming challenge is tuition. My son’s college cost $58,000/year and frankly, I was not properly prepared to deal with that kind of financial shock. Learn from my pain as well as the pain of all those recently foreclosed upon; prepare! One key prep that can help mitigate; but not necessarily eliminate, the pain, is MONEY. As such we recommend that in addition to a 6 month emergency supply of liquid funds(your monthly budget x 6), that you and your family develop multiple streams of income instead of counting upon one, or two sources of income. Maybe you need the multiple streams of income just to establish your 6 month emergency fund. No matter, read on.

A good way to start is to assess your skills and catalog your hobbies. You must love something and be expert, or near expert at something. Well, guess what, you can capitalize on that passion.

Potential Skills:

  1. Public Speaking
  2. Reading
  3. Gardening
  4. Raising pets/animal husbandry
  5. Writing
  6. Leading
  7. Cooking
  8. Selling
  9. Exercising/Sports
  10. Child raising
  11. Education/Tutoring
  12. Foreign Languages

So, once you’ve identified your skill and, or passion, how do you capitalize on it? Well, you make yourself an expert and then you teach your skills to others:

  1. Write an article for a magazine or blog in your field of expertise- Each incremental article/blog post published further cements your “expertise” and leads to more. You may have to do some for free. I usually get around $500/article
  2. Write a book. (Self publishing is becoming easier with all the web tools available these days.) Then sell the book.
  3. Write a blog. This costs almost nothing. If you link it with FB, Twitter, Instagram, etc., and manage your social media with a program called Hootesuite.com you will be able to create a virtuous circle of content flowing about “your wisdom” in the blogsphere.
  4. Volunteer to give speeches at associations, clubs, groups, etc. and advertise “coaching or lessons” you will be surprised at how much business you drum up that way.
  5. Become a “certified” instructor and give classes. If you are good in a field that you love, figure out how to become credentialed. You may have to volunteer some time in the beginning; but as you grow and become well known, you will make $$.
  6. Make Videos and post them on Youtube. These will give you more content for all of your social media tools. The more, and the fresher the content, the higher your search rankings will go.
  7. Sell, Sell, Sell- the produce from your garden, your old un-needed items, the extra eggs from your chickens, whatever you have. Ebay, Amazon and Craigslist make all the world a virtual garage sale 24/7/365

That’s it. The more prepared you are, and the better diversified your sources of revenue, the more personal LIBERTY you and your family will enjoy.

Now go out there and make some extra cash!

http://www.thesimpledollar.com/my-fathers-lesson-multiple-streams-of-income/

Share




Immigration cases clog immigration courts across the country

Posted By on July 31, 2014

7/30/14
Immigration
Enable IntenseDebate Comments: 
Enable IntenseDebate Comments

Due to the highly publicized mass immigration of Central American children into the United States — roughly 57,000 over a little under a year — many court systems are facing a crisis as the number of judges, lawyers, and juries available cannot keep up with demand.

read more





Does the border really need Perry’s 1,000 National Guard?

Posted By on July 31, 2014

7/30/14
Border security
Enable IntenseDebate Comments: 
Enable IntenseDebate Comments

Various solutions to the two and one-half year surge at the border by unaccompanied children from Honduras, Guatemala, and El Salvador have been proposed by Congress, law enforcement, the public, and politicians with a dog in the fight. But lest we forget recent history, Governor Rick Perry’s decision to send 1,000 National Guard men and women to the Texas border should be considered in light of similar attempts. We’ve already seen this supposed solution to gain “operational control” of the Texas border. President George W. Bush tried it in 2006, as did President Barack Obama in 2010.

read more





Scientists urge making critical infrastructure more resilient to solar storms

Posted By on July 31, 2014

7/30/14
Infrastructure protection
Enable IntenseDebate Comments: 
Enable IntenseDebate Comments

Scientists predict the probability of a massive solar storm striking the Earth in the next decade to be 12 percent. The 23 July 2012 solar storm was pointed away from Earth and blasted safely into space, but had it been directed towards Earth, it would have produced the worst geomagnetic storm in more than four centuries, causing extensive electricity problems that could take years to resolve.

read more





West African countries intensify efforts to contain Ebola outbreak

Posted By on July 31, 2014

7/30/14
Ebola outbreak
Enable IntenseDebate Comments: 
Enable IntenseDebate Comments

Togo-based, pan-African airline ASKY has suspended all flights to and from the capitals of Liberia and Sierra Leone, and growing fears of the rapidly spreading Ebola virus have led the Liberian football association to cancel games.

Last week, an American citizen, Patrick Sawyer, who worked for the Liberian government, became violently ill on an ASKY flight to Lagos, Nigeria and died two days later in a Lagos hospital.

read more





Alabama did not share enough DHS funds with local governments

Posted By on July 31, 2014

7/30/14
DHS grants
Enable IntenseDebate Comments: 
Enable IntenseDebate Comments

An audit by the DHS inspector general’s office found that Alabama’s Homeland Security program has not met the conditions of receiving DHS grants, as it fails to share adequate grant money with local governments. The audit, completed in May, found that of the $20.5 million awarded to Alabama for homeland security projects between 2010 and 2012, the state agency gave less than the required 80 percent of funds to local governments. Now some county-level emergency management officials are seeking information on how the funds were spent.

read more