How Do You Create True Financial Freedom?
• Diversify your income. If you have several sources of income, you won’t suffer as much financially when you lose one of them. As long as you have some income, you have more time to come to replace what is lost without worrying about how to pay your bills. Some possible ways to diversify are: • Start a part-time business that you can do on nights and weekends. You might consider turning a hobby into a business. • Create a passive income stream by setting up blogs or websites that offer useful information and carry ads that pay you a small commission for every visitor who clicks on the ad. You can also sell e-books or other information products on your blog or website. • Teach. If you have a master’s degree you can get an adjunct professor position at a local college. Or you can teach online classes or in the community. • Create an emergency fund. Set aside part of your income each month until you have a balance equal to 6 months of income. If you lose a source of income, you can make
