Let’s start by diagnosing the problem before getting to proffer solutions. Most times people have it in mind to save but due to these common reasons they end up failing to:
- Most people can’t save because they don’t have enough to afford that. They struggle to cover their bills and hence cannot save when they lack the ability to pay up for the necessary.
- Some people however, have their bills covered but they don’t prioritize saving. Because of this they tend to spend the extra money on things they do not need, even as luxuries.
- This should be the top. The primary reason many people can’t save in the first place is because they do not earn enough income and they depend on only the little source of income from one job, even just to survive.
Stay glued to this writing for the next 1 or 2 minutes as it will show solutions and tips that can help you save better! It will focus primarily on the idea of having more than one income stream. Let’s start that healthy money saving!
Wonder Of Two or More Income Streams
It is great to have another source of income asides you 8 to 5 job. Other sources of income may include: freelancing, setting up a business or even getting a second job that may require you to work later shifts at lesser times. Usually the last option is the best, as you are sure you get paid almost immediately. The first two however may take a bit of time to establish yourself and get personal clients but can allow you grow as much as you wish.
Freelancing just requires you to provide a skill to people who need them. With freelancing, you get to build personal relationship with client, alongside a possibly steady source of income. For people who don’t have skills to offer you can always start out a business or even start out a blog: hire freelance writers to work for you and watch your online presence grow as you release more content frequently. With a good online presence via your blog there are various opportunities to make good money, even via goggle ads; and most times, it doesn’t take much to set up a blog.
Now that you’ve got a second income stream, you can choose to save 100% of what you get from one source and use the other for your expenses and even afford some luxury. You could see your savings even grow exponentially by saving and investing your second source of income for a long time.