Finding Freedom with Multiple Streams of Income
How do you gain control of your life and gain financial freedom? Two things need to happen. You need to:
1) Get Out of Debt
2) Have multiple streams of income.
I read a stat that said 50% of people are disengaged at work. People go to a job they really don't like to pay the bills. Life doesn't have to be that way. You must empower yourself with multiple streams of income BEFORE you get to your breaking point and walk out of the job. If you walk out of your job before you replace your income, you put your family in a world of hurt.
In order to gain financial freedom and have multiple streams of income, you have to have a strategy of how you are going to achieve the goal. You work the plan until you come to a place where you can decide if you want to stay at your current job or not. When you get to that point of staying at the job because you choose to stay, you gain a swagger about you. You know that the job doesn't own you any more. You are your own person.
So what comes into place that could stop you from building multiple streams of income? For one, self sabotage and self doubt. Mindset is a huge part of succeeding or failing. Other things that factor into seceding or failing is fear or laziness. You may not want to put in the work needed to get to the goal. I get that. You have a lot on your plate already. You have a family. Family takes a lot of your time. You already are working a job. Totally get wanting to be lazy and just keep living how you are living. That is totally an acceptable choice you can make but it doesn't have to be the only choice.
In order to combat fear and begin developing the mindset of succeeding and pushing through self sabotage; you can say an affirmation like, "I am financially free and living abundantly."~oola guys Start your day with an affirmation to get in the mindset that you are going to succeed and win that this!
There are 2 types of income:
The passive income is the sexy income. That is the income that is residual. That is the long term goal of multiple streams of income. Passive income is the long game. Active income is your normal job and a side business that you have. Active income requires your time to make money.
To gain financial freedom it is important that you tackle debt at the same time you are building in multiple streams of income. You can't be truly free if you owe everyone and their mother. You can have all the income in the world but if you have all that debt over you, you will never be free.
Why is it so important to build multiple streams of income? In 2020 we saw many people get furloughed. A ton of places went out of business. People went to work one day with a job and woke up the next day unemployed. If you have multiple streams of income and one of your income sources disappears, you don't end up panicking. You still have some money coming in. Some money is better than no money. You can get to a point with multiple streams of income that it wouldn't be much of stretch if something happened to one of your income revenue sources.
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You can get a FREE book by clicking here about one of the ways you can have additional income coming into your home by clicking here!