To Succeed in the 21st Century You Need Multiple Streams of Income
Years ago I remember reading advice given by financial gurus like Warren Buffet and Richard Branson who said ‘To succeed in the 21st century, you need multiple streams of income’.
Never has that been more relevant than it is today because of the:
- Cost of Living Crisis
- Mortgages Rising
- Interest Rates Rising
- Cost of weekly food shop Rising
…and after all those ever increasing bills have been paid is there any disposable Income left? Disposable income is what gives a quality of life, lets us do some of the fun things, holidays, socialising, playing sport, whatever it is you enjoy!
In fact, is there even enough money to pay all those bills or is there too much month at the end of the money?
Because of this more and more people are recognising the need for a 2nd income. In a latest report it is said that 3 in 5 people now have an extra income stream, or as I think the modern term is, ‘a side hustle’ or a ‘Multi Income Individual’.
What should you be looking for in a company that you would be looking at to have as your side hustle?
- Is it credible? Has it been trading for some time? Is it financially stable?
- Is it something you would feel confident in promoting?
- Is it something that people need or want?
- Is it something that can be done alongside a full-time job or something that can provide a full-time income?
- What kind of money can be earned?
These were some of the questions I asked myself when I made the decision to join Utility Warehouse and I have never regretted that decision.
The company helps people save money on phone, broadband, mobile, energy and insurance services. Yes, I grant these may be a bit boring and that was definitely my reaction when I was first told about the company, However, everyone needs them and everyone uses them. The Company helps people earn money, both immediate income and also residual income. Residual income – that is a whole new blog post. If utilities aren’t exciting, residual income certainly is!
When I first joined the company and was asked what I did, the answer was:
‘I help people save money and I help people earn money’.
Two things that I would suggest have never been more relevant than in today’s ‘Cost of Living Crisis’.