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Tag Archives: multiple income streams

Diversity In Income: The Key To Sleeping Better At Night

having multiple streams of income

We all know how important diversity is in investments, but I also believe having diversity in income is just as necessary. Anyone who has ever lost a job would probably agree. While having an emergency fund can save people from disaster, having two or more steams of income could mean the difference between insomnia, stress, and having to take the first thing that comes along vs being able to take your time and find a better or more rewarding job or career. For me, diversity in income is the key to sleeping better at night. We Want You To Work, We Just Can’t Pay You I recently had some time to ponder the concept of diversity in income after one of my employers didn’t pay me for four months! I have a contract position with the federal government at an Indian Health Service clinic. Federal employees tend to have very stable jobs and regular benefits, but as a contractor, all bets are off. I submit a monthly invoice and generally get paid within two weeks, but it’s not uncommon for the payment to take a month. I’m used to that. However, some sort of glitch that no one can explain ...

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6 Money Moves You Should Never Ignore

  Rather than sit back and wait for your financial situation to improve, there are things you can do to get your money back on track. Maybe you fear a financial emergency because you don’t have a savings account, or maybe you need a guide that discusses your insurance options. Learning to live by these six money rules can give your personal finances a much-needed overhaul. Don’t buy to impress others If your friend bought a new house or a new car, this doesn’t mean you should go out and make the same purchase. Trying to keep up with your friends may feel good, but if you check your bank account or credit card statement and cringe, the joke’s on you. The best thing you can do for your personal finances is live within your means. In other words, establish a budget – a realistic budget. Determine how much you can afford to spend on housing, transportation, food, etc., and be content with the things you have. You’re as wealthy as your lifestyle. Pay off debt Stop convincing yourself that debt is a way of life. There are many who live a relatively debt-free life, and you can be one ...

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Work Less, Live More-Transition to Part Time Work

transition to part time work

After 12 years of living to work, I have moved into part time hours. If you are old enough to remember Prince circa the Purple Rain era, the intro to Let’s Go Crazy is a perfect description. “A World of Never Ending Happiness, You Can Always See the Sun, Day or Night” Well, that might be a bit dramatic. Five years ago, if asked where I’d be now, I would have said in the same place, watching the years tick by, having brief weekend respites, and working myself into complete burn out. Priorities changed, and now I’m in a much better place. Working less means having more time to do things I love, but be lying if I told you that it has been completely smooth. If you are considering the move to part time or, even better, leaving a traditional job, here a few things to consider.

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