Generating multiple income streams

[Gailete]

I literally laughed when I read that. 1 book and Kindle sales are through the roof!

Which is why I thought it the most obvious example of current "NEEDS" that I could think of.

[p_wyt_12]

There are other ways to earn money except having your regular job. You just have to open your mind to new things for you to earn. When I'm settled on working online, I plan to learn and invest to mutual funds. My husband and I is also thinking about opening a good business here but that could wait

[GrimJack]

Gailete, I bought my mother a Nook for Christmas and she hated it. When I called her right after Christmas, she said she did not like it. Three months later, she can't live without it. I specifically bought her the Barnes and Noble Nook so she could go to some nice young person at the B&N and get any help she needs. I have no idea which of the readers are best but since I live in Seattle and she in Bozeman MT, I don't have to try to troubleshoot her problems on the phone (and we can focus on catching up on family news).

My wife has a Kindle that she says makes reading the NYT on the bus to work a breeze - but she still gets the paper copy on the weekends because we go out for breakfast and read together. The books and stuff I read are not yet available as e-books or are too expensive - I read dictionaries, encyclopediae - my dream right now is to buy a set of the full-size OED - I have the compact version but my eyesight is no longer good enough to read it easily.

Oh, yeah - whenever someone mentions multiple income streams I hear AmWay or some other MLM - I do have investments and a job.

[Blessed]

I think that all depends on what you are paid and what you NEED to live on from your main job. What you said is the same as those who say that a mother/wife needs to work out as well as the husband to make ends meet. Again it comes down to the incoming pay and the NEEDS of the family. To keep mom home there are many families that are still willing to make the sacrifice to doing without some WANTS. Having the wife/mom stay at home can reap other benefits that help boost hubbies productivity. Before my son took the plunge to work completely on his own, they had made a decision that my DIL would stay home. She had some health issues and was exhausted with trying to keep up with work, school and a house. Suddenly she was just in charge of the house and helping my son with the paperwork of side line businesses. Suddenly he had a nourishing meal everyday, a clean house, clean clothes, etc. all those 'intangibles' that he no longer had to deal with boosted his ability to work. He had been married before, had three jobs and came home and either had to cook dinner or buy restaurant food, do the grocery shopping, cleaning the house, etc. since he had the laziest (and craziest) wife going. She didn't work and did nothing around the house either. Too many forget that having the right kind of home support is an income stream in and of itself. Having someone at home keeping food costs down is a big money saver which means that much less money you need to earn. And the list can go on about the savings that having a person at home can accomplish. Assuming they are willing to think of it as their job.

I agree with a lot of what you wrote. I only work a few hours a week and it has been that way for 17 years. I like knowing that if dh had a layoff, illness etc that I always have the option of working full time instead of my 8-10 hours week if we needed the money. My boss would be thrilled.

[Gailete]

The books and stuff I read are not yet available as e-books or are too expensive - I read dictionaries, encyclopediae - my dream right now is to buy a set of the full-size OED - I have the compact version but my eyesight is no longer good enough to read it easily.

And here I thought it was only my husband and I that read encyclopedias and dictionaries. I picked up a set of fairly new World Book encyclopedias at a book sale for $10 (I'd get the OED if I could find it) and every time we look up an article I get distracted and end up reading all the articles close to the one I had looked up. I spent an entire evening once reading through S.

[David wong]

yes , i have multiple income streams via online and 2 offfline business.

[AccountantSalary]

Yes, I do, and they all involve websites. Unfortunately, one website is responsible for about 80 percent of my income, and I'd rather that it be divided equally among five websites. That way, if one website gets knocked out, I only lose 20 percent of my income.

[p_wyt_12]

Definitely, it is good to generate multiple streams of income. We need to have back-ups to our primary source of income. With me, I earn in 3 ways: job, online business and affiliate marketing.

[elessar78]

I've thought a lot about this recently. We were doing a photo shoot for work (advertising) and during down time I spoke with our models to find out that all of them had multiple income streams. One was a flight attendant, ran an event planning company, and was a model. Another was a model, DJ, and made corporate music (think the of the soundtrack for advertising).

I certainly have the opportunity to do that: my main job as a graphic designer, coach soccer for money, referee soccer for money, work as a freelance designer, and maybe even do some photography on the side. So I feel like I could have multiple income streams, the problem is TIME. To make this money I have to be doing something. Which I don't mind but it takes time away from my my kids, my wife and my home. No matter how I slice and dice it there are still only 24 hours in day and I need to sleep 8 of it.

I think the beauty of dividend income and rental property income is that you earn money when you're not working.

[Ramose]

Now I read voraciously and I have severe arthritis which means holding those books is painful and awkward with my sore hands. Since I read around 2-300 books a year, a book reader might, in my circumstances, almost becomes a need, but I still don't have one.

So there are quite a few sensible reasons for why I NEED one, but I know I'm making up reasons.

Normally I agree with what you say Gailete but that is the most ridiculous thing I have seen you post. You should never be suffering through pain just to save less than $100. If reading is actually painful and you want to continue reading then you are not 'just making up reasons'. I think it's time for you to buy an eReader.

EDIT: Sorry about the little rant!

[Gailete]

You should never be suffering through pain just to save less than $100.

EDIT: Sorry about the little rant!

No problem about the rant! When we get a spare $100 or so I will be getting an ereader. I have gone as far as figuring out what I would need as we are in the country and I know my son's cell phones doen't get the best reception, so I have to be sure that I can get downloads out here--don't want to have to drive into town for free wifi at the library just ot get books loaded on it.

My husband has been picking up more lucrative work lately as so some of the awful financial crush that we have been under for years now is finally easing up and that will help. I would like to see us with a bit of a cushion before I get something like the ecreader. I use an Amazon cc for our monthly business bills so maybe I can get one for free when I have enough points. Anyhow I am working on figuring out how to afford it. I would have said the same thing to most people as well. In this day and age $100 doesn't seem like much unless your budget is as tight as ours has been for a long time.

[Ramose]

Sounds like you have it all figured out. I knew you would have a good reason not to buy one just yet.

[Jimhassel]

I have a question here: how do you guys manage multiple jobs? I would definitely like to do so myself but don't know how, please advice me on this as it would also let me improve my economic condition.