The Importance of Side Hustles, Multiple Streams of Income and Money
Money… Love… Health… Family
What are the important things in life? Money, love, health and family, not necessarily in that order.
We could write about love and relationships but I think the lessons in relationships are more subjective to each person as opposed to finance (while still subjective, but more generalized).
We could write about health, but again, the question is how subjective is health to each person?
Families come in all different shapes and sizes, and some people find that an interesting topic, but for me, the lessons that I have learned and need to learn the most are in finance.
If we write about love, then we have to writeabout the reality of love. When half of all married relationships end in divorce, do we write about things that will keep our relationship alive? Or do we write about the fluffy stuff, like dinners out, romantic gestures, or the asinine things that our partner did last week?
My Only Relationship Advice
I don’t have a lot of advice on relationships, other than one discussion I remember having with a younger co-worker of mine. She was just stressed about the attitude and intentions of young men her age when and while she was looking for a meaningful relationship. Her words were all men are a-holes. I agreed with her – all men are a-holes. All women are b!tch3s. This is true. However, one day you will find a man who is less of an a-hole and he will find you less of a b!tch than others, and the two of you will be compatible.
Maybe it wasn’t the right choice of words, but it’s true and it’s the best relationship advice I can give. Men will be men, women will be women, and relationships are based on mutual respect and gratitude. At the end of the day, we are all much the same.
My Family Life
I can’t write about family because I have an untraditional one. We are considered dinks: dual income, no kids. Our children come in the form of our pets, who mean just as much to us as if they were our real flesh and blood. I could write about that, and I am sure that would resonate with a number of people, but having a blog about family usually indicates children of the human kind. And for that reason, I did not feel that that was my niche.
Not the Epitome of Health
I could write about health; after all, with the invention of the internet, everyone is a doctor, right? There are many, many websites purporting to be the newest and best thing when it comes to health. Nearly everything that we have ever been taught has been retracted and redacted, from the food pyramid to the authenticity of the Atkins diet. I also do not feel like an expert on anything health related, as I am not the epitome of health.
Honest Money Discussions
Discussing money comes easily to me, although not that long ago I was completely naïve in all aspects of handling money. Even though I have worked in the real estate and finance industry for more than 20 years, I personally did not know how to manage my own money. The reason why I created this blog was to dive into the topics of money, and learn along the way. Being that I am in my mid-to-late thirties (shhhh), I assume that it would be fair to say that I am not the only one struggling to find my way.
They say you should write about what you know, and I know real estate and finance for other people. I also know, now, about saving, investing, and side hustles. I was the victim of too many whims of employers who wanted to change their office or their financial structure of the office, and found myself without an income. This engrained fear of traditional employment is what brought me here today.
If there was nothing else that I have learned through blogging was that a safety net comes in two forms.
Your first safety net is referred to as your emergency fund. For some, that might be the baby step of Dave Ramsey’s, being $1,000 held in an account in case of emergency. For others, that can mean 3-6 months’ worth of income stashed in a cash account. For others again, some people believe in life prepping by holding onto cash. I can’t say that any one of these are right or wrong, but for me, I always found myself challenged to have enough of an emergency fund and without enough funds to wager against traditional employer whims.
The second safety net is about multiple streams of income. If your first stream of income (traditional employment) was to dry up tomorrow, would you still have money coming in? I wanted that answer to be yes. I wanted to share these options with everyone. When you have a side income that is not reliant upon one employer, you have a little bit more control. If your side hustle manages to bring in a decent amount of money, then you have the security that, in the event that traditional employment fails, you will still be able to make ends meet. It will also reduce your stress levels because you are no longer solely dependent on that traditional employment. Some people will call it an “F U” fund, but I like to call it a Get Out of Jail Free card.
Together, these two safety nets will help you meet your goals, and keep you safe in nearly any economy.
FREE Side Gig Summit
I enjoy writing about finance because I can teach people about real estate. There are so many aspects of real estate, from owning your own personal home as an investment for the future, to managing multiple properties. I am actually going to be featured in a Side Gig Summit where I discuss what it takes to be a property manager. You can choose to own rental properties or you can choose to manage rental properties, and both can create a significant income for you if done properly. I would love for you to join us at the free Side Gig Summit by going here.
As a side note, this Side Gig Summit features all kinds of side hustles or side jobs that you can do outside of your traditional employment. It is not unheard of to create full time self-employment out of side hustles. Never discount the saying that necessity is the mother of invention!
I plan to continue to try different side hustles and feature them here, but I do encourage you to to check out the Summit because, while we all may not have a traditional family, loving relationships, or a stellar health history, we all must have money to live.
Do you sell products from another company? Want to make more money? Read MLM & Networking for the most actionable tips in building your business.
This post may contain affiliate links, meaning, at no additional cost to you, I may earn a small commission if you choose to purchase through these links. Please see my disclosure for more information. Amazon Affiliate Disclosure: I am a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by providing links to Amazon.ca and affiliated sites.