Create Wealth 2.0

The recent survey of Nielsen showed more Filipinos are now cutting back expenses and saving, in light of the uncertainty brought about by the crisis. Since we are known as nation of spenders, definitely, learning how to save is not a bad move.

But there is even a better approach to address the fear of uncertainty or fear of losing your job– that is to build other streams of income.

The fear of losing one’s job is a proof that a person is  far from financial freedom.  If we only rely in one source of income to support our needs, then we are not only in bondage, but we are also courting trouble. Most Filipinos were programmed or made to believe that there are only 2 ways  to be financially independent, and these were (1) finish college then get a good job, or (2)  leave your country and work abroad. This is not necessarily bad, but this kinda limit us and even make us more vulnerable to more abuse and challenges.

There is a better way of securing the financial needs of the family, as I mentioned earlier and that is to build new and different streams of income. If all streams work, then you’re blessed. If one failed, you still have other streams to take care of you. Be creative and look for other opportunities that will give you extra bucks.

In my case, aside from my day time job, blog advertising, consulting and selling gives me other streams of income. It is my objective, too,  to focus on business as soon as my passive and semi passive incomes become equal or even exceed my operating expenses.

Now let’s think out of the box. Aside from what I shared, what earning opportunities do you see to start new streams of income?