Passive Income | Create Wealth 2.0

Build Diverse Streams Of Income

May 24th, 2009

1 comment

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.

Getting Out Of The Rat Race

May 30th, 2008

3 comments

I just came from Entrecard dropping and I read a blog of a Certified Public Accountant turned “problogger” about her desire to start a business. It is worth mentioning that some bloggers have quit their job and still others would like to follow suit. This, I believe, is because of the convenience to work at home and in our own time, and because some succeeded in earning 6 digit income by blogging.

With the telecommuting options not accepted here yet, I bet more and more corporate citizens will look for alternate ways to earn aside from their day time jobs, specially wives and mothers who want more time for their family. And yeah, blogging is an attractive option.

Blogging is a cheap way to generate an alternate source of income, all you need is a PC and an internet connection (or a few hours in an internet cafe) and a blog hosted either at wordpress or blogspot. Having your own domain and/or a self hosted blog is an option. But the most important part is the dedication to write, the strategy to build links and traffic, and the patience to wait. When we blog because we enjoy it, income will follow. Unfortunately, others have their framework in the reverse.

But have you ever thought of complimenting your online presence with an off line business?

An e-buddy once said, “if only I got the funds I need”.