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Saturday, March 11, 2006

How Many Paychecks Do You Get Each Month?

Multiple sources of income would be nice, wouldn’t they? Having a job, a side business or two, and a spouse with the same would definitely give you multiple sources of income, and your financial situation would be rather cozy. But let’s wake up and step out of this dream for a moment. The world has become obsessed with working from home part-time and holding down a traditional full-time job as well; the world has become obsessed with multiple sources of income. People search daily for ways to make more money, extra jobs to take on or new businesses to create or even new products to invent and sell. People fail to realize that there are ways to gain multiple sources of income without spreading themselves too thin, and these are ventures that will probably be more profitable and beneficial to themselves and their family members in the long run.

Consider these four ways of making money, as given to us by Robert Kayosaki in his book Rich Dad Poor Dad: employment, self-employment, business, and investments. With employment, you work a full-time traditional job. With self-employment, you work for yourself, perhaps as a freelancer of some sort. With business, you either own or co-own your own business that provides goods or services as a way of bringing you income. And with investments you earn accumulated monies.

Instead of trying to juggle all of these in order to gain multiple sources of income, consider taking on just two. Find full-time traditional employment and then use your writing or tailoring skills in the evening and on the weekends, if you have time. Or, develop your own business and make wise investments.

There are sensible ways to gain multiple sources of income. If you approach these four rationally, carefully, and in a well-thought and well-planned out manner, you could soon be earning multiple sources of income.

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