Why you should have multiple streams of income

Having great cars, fantastic house, good clothes, eating everything you crave, affording your bills etc. come at a cost. Unfortunately, the economy doesn’t make these easy, but in case you are still dragging your feet about launching a new stream of income, here are good reasons you should.

1. To afford the necessities

Well, this is obvious from the introductory paragraph. It is so annoying that some of the smallest things suddenly feel expensive. When you have to buy toiletries and then you begin thinking of how much you spend on that alone in a month, it is depressing. On the other hand, it feels good to treat yourself to ice cream or a movie on a whim occasionally simply because you can afford it.

2. Independence

If in this age you are still waiting on your man or parents to settle you then your case is in court. Be your own woman. Even if the additional income is only a stipend, it will give you transport allowance at least.

3. It pushes you

Get another stream of income, not merely for money but also to see how far you can push yourself while working more than one job. You would be shocked how much you can achieve through this. Pushing yourself just might open you up to more opportunities.

4. Accelerated growth

Money makes the world go round. If you have any aspiration, money helps you get there a whole lot faster. For example, if you want to retire at 40 so you can have time for your family, don’t assume it is your day job that will achieve that for you.

5. Safety net

You never know what may go wrong with your day job so have another source of income in case a rainy day comes pouring hard.