According to experts, More than 47% of Americans today cannot pay $400 for an emergency without having to borrow that money.
The secret shame is that most of that 47% had full time jobs when answering this question.
That number is even worse today as millions have lost their jobs.
Losing your job means that your lifestyle has changed and the pressure that is placed on you is immense.
Multiply that by what has happened to the economy during the corona pandemic, making it that much harder to find a job to be able to pay necessities like food.
Years ago, I experienced losing my job and found myself with no savings as I was living paycheck to paycheck
I was unemployed for four months and in those four months the shame of what had happened to me was overwhelming.
I served in the United States Airforce in Desert Storm with an Honorable Discharge.
I got an education and I had a Master’s degree and was a fully licensed X Ray Technologist. By all appearances I should have been doing okay, but the truth was that I had lost my job and had no way to replace that income.
I eventually was able to become employed.
That is when I began my journey to never allow this to happen to me again.
This is my driving force behind creating this video and my website myincometrek.com was created.
I decided to begin a process to avoid the pain and shame of not having enough money while having a full time job.
I began to learn about starting my own business online:
I wrote my first book on a topic I was very familiar with.
The way I wrote this book was at night, on the weekends and during my lunch breaks at work.
I know what you are probably thinking. You probably think I would not get very tired working in a hospital, working inside an AC hospital. But, there are other ways to make money besides writing books, but I chose this way because it worked for me and that is what I know. On my website you can download for free my Create and Earn Worksheets; these worksheets will allow you to tap into what you know and are good at doing.
I self-published the eBook with a single one page website. Eventually that grew to a nationally based coaching business that generates income on a consistent basis all because I started my first business on something I knew a lot about. I believe everyone has something that they are very good at, we all have the potential to teach someone else what we know.
I then kept diversifying and I began to generate multiple streams of income.
Some of my income streams generate a few dollars a month while others generate thousands of dollars a month.
Fast forward today: I am generating multiple streams of income from various sources such as Affiliate Marketing, Website Content, Video training, Product creation and other areas that I create and generate income from
I have created my multiple incomes that each alone is not enough for me to ever quit my job, but together they do generate a nice income source for me.
I had no idea how valuable it was creating my multiple income streams until millions of Americans started losing their jobs. It brought back memories of what had happened to me.
You see, unlike many online people that try to teach you how to make money online while wearing fancy clothes or standing by a fancy car or showing you how they look without their shirts in bora bora or staging an event to make it look like they are amazing.
I have always kept my full time job and work on my income sources after work.
I’ve always tried to live a simple life where I am not lacking the necessities of everyday life, but still be able to buy yearly passes to Disneyland for my family: LOL!
I know it can be hard to save money or use that money to start a business. But, not doing it today will mean you are only delaying the pain later in life where you may be older and not as strong to be able to deal with not having money.
Two major things you need to do to begin avoiding the pain on not having money..
One: Begin investing in your 401K
Two: Start your online business while keeping a regular job.
Small consistent actions will generate larger and larger rewards down the road.
One additional income alone is considered good additional money, but when combined with multiple incomes know you are generating a income stream
Unlike a job: If you lose one of your multiple incomes, you can still continue to financially thrive.
The process to build an income source does not come quick, but slowly moving forward one step at a time is how any process is built.
Start today creating your first income stream:
Generate a few hundred dollars or more:
Then begin generating a second income stream.
I wish for you to be successful in whatever you do.