Money Talk Daily

Posts Tagged ‘extra income’

There’s no shortage of conflicting economic news is there? “Green Shoots.” A “U Shaped Recovery.” Layoffs slowing. Unemployment rates still ticking up. More banks expected to fail. The Chinese fed up with holding dollars.

It is very easy for any of us to latch on to the news we want to hear. If you are long the stock market you love to hear news that corporate profits might rise. If you are in construction, news of possible increases in building permits brings a good feeling. There’s nothing wrong with rejoicing over good news. The problem is when we tend to tune out news that is not so appealing.

I do not believe the near-term economic future is one that is uniformly rosy. I do believe political forces desire to massage statistics and reports to further political agendas. Good sets of economic data are not easy to come by making accurate forecasting difficult. This is nothing new. This is also one reason why forecasts are all over the place.

But this is not a blog set up to focus on the negative. It is a site, the purpose of which, is to enable participants to succeed financially regardless of what happens economically. And it is my position that one of the best things an individual or family can do is build extra streams of income and learn how to slam the breaks on unnecessary spending. Call it a form of “financial insurance” if you like. If the good news is correct, you’ll have extra cash for a really fun vacation. If the news is really awful, you’ll have extra cash to keep food on the table and your family secure. What’s wrong with that plan? Nothing, other than it does take some time and work.

Let’s get busy.

So Reuters reports that consumer sentiment is at a four-month low. That comes as no surprise. It’s clear that we are not being fooled by the happy talk that comes from the government or various media outlets. People hear about friends losing their jobs and are concerned about what’s coming next. We question whether various programs are really helping the economy get back on its feet. And we are unsure about whether anyone has a really workable solution to what is troubling the economy.

But the purpose of this blog is not to sit and stew over what might happen. We realistically look at the situation and explore ways to succeed financially regardless of what comes down the pike.

Have you looked at your spending and found ways to reduce your expenses without having your lifestyle take a hit? (We have a free ebook you can download just for that purpose – www.savemoneyathomereport.com )

How about the best form of “income insurance” – adding an extra stream of revenue? We want to help with that as well.

We cannot control the economy. We can watch it and control our responses to it. And that’s what we plan to do. Are you with us?

Craig

Most of us are not in a position to use our investments as a vehicle for generating current income through some sort of market trading system. And for all but a very few, that would probably be very inappropriate. Your investments should be growing to prepare for your eventual retirement. You don’t want to be drawing on them to make ends meet.

So with the possibility of inflation eating away at the value of our salaries or wages we are really left with two alternatives – cut expenses or add other streams of income. As you’ve probably figured out, this blog is all about both.

I can get you started for free with the expense cutting part. Just click here and claim your copy of my free ebook, 75 Painless Ways to Save Money at Home.

The other part of your financial success plan includes adding some streams of income to your life. We’ll be working on that in the weeks and months ahead.

But really, the most important part is a decision by you to take action!

Craig

Do you know where this economy is going to be six months from now? I’m not so sure either. I just saw a headline that discussed how retail sales continue to bounce along near the bottom of their recent levels. That’s not encouraging.

What can be encouraging, though – at least it has been for me – is to have stream of income that has nothing to do with your “day job.” This is my 25th year of self-employment. It sure hasn’t always been easy – but it has been nice to take charge of my future and dodge the layoffs and financial crises many of my friends have lived-through.

Maybe you’re not ready to go totally self-employed – and that’s okay. But you might really want to look at hooking up to and extra stream of income that you control.

It might be the best “recession insurance” you ever get.

Craig