I’ve learned the hard way that having a backup or multiple streams of income is better than relying on one. I’m a piano teacher and I have many students that I teach weekly. Therefore, if one student quits, I have the safety of still having the rest of my students. I doubt that they would all leave me at the same time, so I think i’m pretty safe for now. And if one student quits, I would be on the lookout to fill that spot. I am also blogging on the side. I have four blogs that I’m currently building up. And they take almost all of my free time. I believe in having multiple streams of income. I remember the days where I only had one student and it was devastating when that one student quit. I also remember the days where I was flat out broke and had no money. It’s not that money is everything, but I can’t afford to have zero income right now. And I think it’s better to be safe than sorry.
Why do I have four blogs? Well, in the future, i’m hoping to monetize all of them. I know that blogging takes a long time, so i’m in no rush to do this. I think that it’s better to have lots of backups rather than relying on just one blog.
The reason why I brought this topic up was to discuss how it feels when one of my students decides to quit. It’s a horrible feeling, and the stress of having to fill that spot is even more horrible. And if I was solely relying on that student’s lesson fee for my income, I would be at a loss. Don’t do this. Make sure that if your boat sinks, you have another way of staying afloat.
One thought on “Why You Should Work Multiple Jobs and Have Many Streams of Income”
Definitely agree with you there. As a church music director over the years, each new budget year can be stressful for me depending upon the economy, the growth stage of the specific church, and even whether or not some new board member likes you or not. I also learned the multiple-streams-of-income source rule a long, long time ago.
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