Don't put all your eggs in one basket

Paulc488 By Paulc488, 16th Sep 2015 | Follow this author | RSS Feed | Short URL http://nut.bz/3ooenvsc/
Posted in Wikinut>Money>Making Money

Instead of focusing all your efforts on just one source of income, why not create several, that way if one project does not pay off you have the others to fall back on. As the old saying goes, don't put all your eggs in one basket.

The Benefit Of Multiple Income Streams

If you talk to any wealth coach or successful business person, they will tell you that the best way to create a better financial future is through having multiple income streams. This is very sage advice as lots of small but regular income streams can really mount up to a lot of money over time.

I am currently in the process of trying to incorporate this idea into my life, which is part of the reason I have been fairly quiet here on wikinut over the last few months. My income here on wikinut is at a point that it will tick over if I am not around, so I have been focusing my attention on a few other projects, which include helping my wife get here blogs and youtube channel going. The reason behind this is so that we can create several small income streams between us as a family.

These small income streams, when added to our regular income from our jobs, should hopefully help us achieve a better and more stable financial future, and by not having all our eggs in one basket so to speak we are minimalising our risks.

I will be very honest, it does take a lot of effort to get a project such as a blog or a youtube channel up and running so that it attracts visitors, but to me this initial effort is worth it in the long run. Add to this the fact that services such as wikinut, blogger and youtube are free to use, anything you make is profit.

Although it is very tempting to stick with just one online business, I personally feel that you will learn and gain far more by entering several little money making projects. I would also advise people not to be put off be a low amount of initial earnings, as over time views and the resulting revenues will grow to a decent little income stream.

So if you are looking to create a stable financial future, don't put all your eggs in one basket, instead spread your wings and take on a few projects that you enjoy. Yes it will be hard work at the start, but the effort will definitely payoff in the end, and as for a starting point I would definitely recommend writing here on wikinut.

Tags

Eggs In One Basket, Income, Money, Prosperity, Wealth

Meet the author

author avatar Paulc488
My aim is to share recipes, information and knowledge with as many people as I can and hopefully make some friend along the way.

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Comments

author avatar brendamarie
16th Sep 2015 (#)

I totally agree, having more than one way to make extra money online is this best way to go. Good Luck with everything.

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author avatar Fern Mc Costigan
18th Sep 2015 (#)

Awesome post!

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