Tight cash flow? Concerned about your future? Would extra income help?

What are the Options?

We talked in the last post about the advantage of multiple income steams, taking into account that there are only so many hours available in the day, what are the options?

If we were to brain storm we could likely come up with a page full of options, let’s each of us do that while I will come up with a list for this discussion.

• A second job working a couple of hours in the evening or on weekends

• Your significant other gets a second job

• Go to school to increase earning potential

• Investment Real Estate

• A home based business
  • Turn your hobbies into a business, i.e. sell what your hobby can produce
  • Multi level marketing / Direct Marketing

• Ride it out and hope for the best

Let’s take a closer look at the first three options:

• You and your spouse get a second job.
  • While this on the surface is an answer but what constraints are put on your social and family life?
  • What impact does being employed by a second employer have on your quality of life?
  • What if it conflicts with your primary job?
  • Can you make enough money for the sacrifices involved?
• Going back to school
  • Always a good idea.
  • Lifelong learning has become a requirement in the fast changing world we live in.
  • What should you take? How do you decide?

Stay tuned we will look at the other options and then drill a bit deeper.