In the previous post I started sharing ideas of how you can create multiple streams of income or invest in recession-resistant areas of the economy. And all of this advice came from the ancient wisdom of the Proverbs 31 woman.
The first four income or investment sources were
- Trade (owning a business)
- Income-producing land ownership
- Housing, and
- Food
Here are four more areas to explore how you can generate income, either directly or indirectly through investments: [click to continue…]
(Wisdom on Diversifying Your Income from a Surprising Source)
I had an interesting coaching conversation last week. It was about money. “We have re-budgeted and cut just about everything I know to cut,” he was saying, “and we are barely squeaking by. How else can I cut my budget when we’ve done all the cutting we know to do?” I should add that he was trying to avoid cutting his giving to his church.
My reply went something like this: “A man much wiser than I once told me that he found it important not only to budget his expenditures, but also to budget his income. Maybe in an effort to balance your budget, you’re looking on the wrong side of the ledger.”
“What does that mean?” he asked.
“Your salary is pretty fixed,” I said, “but your wife has two different sources of income where the results vary. By seeing just 10 more clients a month (not a week – a month), you will realize the difference you’re looking for.”
His whole brain re-shifted. Changed his whole perspective. “I hadn’t thought of that,” he said.
There was a lot of energy in that conversation, and I felt useful. And while I mentioned to him the sage advice I received from the businessman, what I didn’t mention at the time was that what most changed my perspective was a girl. [click to continue…]