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Speaker: Hey, Janine. Here with Neils Janzen on Building Resilience with Multiple Streams of Income.
Neils Janzsen: Thank you, Janine, and I would like to share a nugget of wisdom on how you can boost your confidence and your resilience by creating multiple streams of income. So imagine having not just one but having three income sources that support your life or even five. How would you feel at work? How would you feel when you are under stress? Probably you would feel more confident and knowing that you have more options than not your whole life depends on this one income stream, right? So as for most people, their life depends on a single income stream. I personally always found it pretty stressful knowing that if that one would drop I would be in trouble. So let us do a real short recap here.
So what are multiple income streams? Well, an income stream could be, for example, income that you generate from a job, but this could also be something else. For example, if you have a freelance gig or have more of a passive income stream. For example, if you run a YouTube channel, a podcast, or publish your book, for example. So these are all sorts of income streams and even if you are in a busy job, there are still some options out there for you to generate more, to create a few income streams even with limited time and energy.
So let us dive into a few examples here of things that you could practically do while working in a busy job. So a few of these I mentioned already and so let us zoom in on an example here. So for example, you could consider working one day per week less and try to replace it with something else. For example, you find a freelance gig on social media management or something when it comes to copywriting or analytics or anything that you are talented about. So in the end, it could be that net your– you will still receive the same amount of income. But you spread your chances across different channels. This is of course just an example. An alternative way is to try to see if you can generate a tiny passive income. This could for example be by publishing your own eBook or creating a few designs and putting it on Etsy or starting your own YouTube channel, something that you are passionate about. These could all be different ways of creating tiny passive income streams that would help you to gain more confidence, self-esteem, and resilience. Well, these are my three minutes these, are some practical tips that you can dive into, experiment with, and also read a book. Have a look at what other peoples are doing. There are so many opportunities out there nowadays. Thank you.
Back to you Janine.
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