Why you need to Generate Extra Income

Income source leaves

“ Don’t it always seem to go
That you don’t know what you’ve got
Till it’s gone…..”

        Profound thanks to Joni Mitchell !

In my last post How to generate Extra Income plus More Money Saving ideas, I discussed how to earn some ‘Incidental Income’ but I didn’t explain why we should do this

What if:

  • I lose my job; what is my Plan B to hold me over?
  • I become too sick to work and don’t have enough sick pay or income insurance; what next?
  • I have to quit my job to become a care-giver for a loved one?
  • My hours get cut and thus I am earning less?
  • My earnings don’t keep pace with my living expenses?
  • I have a large, unexpected expense?

If you have a number of income streams you should have fewer financial worries, greater resilience to sudden change and more control over your life.

Have you:

  • done anything this week to generate extra income?
  • seen or heard anything this week which has made you think that there might be ‘something in it for you’ ?

Let me know!

Until next time,

Glenda

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Posted in income, money
2 comments on “Why you need to Generate Extra Income
  1. I have always been a big believer in multiple streams of income. Never put “all of your eggs in one basket” as the old saying goes …

    Liked by 1 person

  2. So true surprisemillionaires. I think this activity should be encouraged. I see many news stories about people who cannot save money as their income just cover their expenses and they do not have a fallback plan.

    Like

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