The American Resurgence

The economy sucks, everyone knows this.  What most people don’t know is how to survive it.  There are a few things that can definitely help, live on a budge, pay off debt, etc.  But another method that is extremely effective is to diversify your income.  Most people know that when you invest your money you should diversify to help protect you from risk.  It is also a good idea to apply the same principle to your income, especially in a down economy.

I recently found out that I am going to lose my job at the local supplement store.  I’ve been here for 2 years now, but the store is closing.  What could make this worse is that I’m now married, and have a wife to provide for.  However I’m not worried at all.  Because about a year and a half ago I started to diversify my income.

It started because I was going to ask my wife’s dad for her hand in marriage and my part time supplement selling gig wasn’t going to cut it.  That was when I got my Personal Training Cert, and opened my Personal Training business.  I poured into that some over the following year, and have built up a decent clientele.

Then in August of ‘09 I started doing freelance writing with the intention of further diversifying my income.  I do this in my free time through Demand Studios, and get paid about $15 for an article that takes me 30-40 minutes to write.  I’ve earned about $1,100 over the last few months in my spare time.  Decent money, it helps.  And that number will likely grow much larger now that I won’t be working a register anymore.

The key if you’re going to diversify your income is flexibility.  Most people have their main job, and you should never impair that, neither by time or focus.  From there you should seek to do something in the time you have left over.  The best work is the kind that isn’t based on a schedule, but the time you have left over.  Some ideas include:

—Start your own business.  Most people have some skill that they can market as their own business.  This can be anything from babysitting or tutoring, to bookkeeping, Personal Training, cooking instruction, babysitting, etc.  The sky is the limit.  What do you do, and do well?  Find out what people charge and see if you can do it in your free time.

—Look for work online.  I’m not talking scams, though they are many.  I’m talking legitimate work like Demand Studios.  There are many options out there, simply do a search and see what you find.  If you’re concerned that something might be a scam, then just search the name of the site, and the word “scam” and see what pops up.

Hope this helps you get through this hard time.  Don’t wait till it’s too late to get additional income.  Make a preemptive strike and earn more money while your at it.  Don’t forget to pay off debts.  God bless.

Tags: business, diversify, diversify income, Economy, finances, freelance, freelance writing, job, lose job, make money, recession, start a business, Success, survive, survive recession, writing