How I earn my money

A lot of what we write here at Get Rich Slowly is theoretical. “This is how you should do things,” we say. Or, sometimes, the articles are meant for inspiration: “Here are some great ideas for taking control of your finances!” We don't write as often about the things we actually do with our own money.

In the early days of the site, I shared many of my own experiences. I've gotten away from that in recent years. For one, I feel like I've already revealed most of my financial life. For another, much of what happens behind the scenes is b-o-r-i-n-g. (“What? J.D. put more into his savings account? I'm glad I read that post.”)

But after writing last week about the building blocks of personal finance — which I hope was both theoretical and inspirational — I realized it might be useful to share some snapshots of how I actually put these principles into practice. This week, I'll share how I earn money. Next week, I'll describe how I spend money. And at the end of the month, I'll review how I save money. (And remember: For our purposes, I'm defining “saving” as how you make your surplus grow. Some folks prefer to call this “investing”.)

How I Make Money

I write a lot about making more money. Frugality is important, but there's only so much you can cut your costs. In theory, your income is unlimited. But there's often a big difference between theory and practice, right? How many of the ideas I've shared are applicable to Real Life?

Actually, I think all of them are. When I share an idea, it's because I've tried it myself, or because I've talked to somebody who has.

To illustrate, here's a list all of the ways I've made money since 1998:

  • The day job — Like most people, the bulk of my income has come from working a normal nine-to-five job. For seventeen years, I sold custom boxes for the family business. I didn't like it. I was a lousy salesman, and the work felt meaningless. But it paid the bills. (Which were mostly credit-card bills in those days…)
  • Hobbies — I'm a huge fan of making money from hobbies. I know this path has its drawbacks, but for many people, it's a great way to earn a few extra bucks per month. In my case, I've made money from my photography hobby. I've won cash prizes at the county fair. I've sold prints to friends. And I even sold a photo for $600 to Audubon magazine. I've made money from other hobbies, too. My computer hobby turned into a computer-consulting side business (see below), and my writing hobby turned into this blog — and a career in writing. (My wife has made some side income from her hobbies, too: gardening and food preservation.)
  • Side business — About a decade ago, I got tired of selling boxes. I decided to make a career change. I started taking computer-programming classes at the community college. Eventually, I was skilled enough for people to hire me. After a year of working for others, I decided to work for myself. I started a small computer consulting firm, which earned me a couple of hundred dollars per month.
  • Writing — Though this too started as a hobby, it's become my primary source of income. I make money by writing for Get Rich Slowly, obviously, but my writing brings income from other sources, too. I earn money from my book (though, admittedly, less than minimum wage). I earn money by contributing to other people's books. I earn money though my monthly column for Entrepreneur magazine. And I've earned money by writing short essays for other outlets on the web and radio.
  • Speaking — I'm not a great speaker, but I'm getting better. (I'm learning to relax and not to over-prepare.) I'll never maker as much money speaking as some of my colleagues, but I'm fine with that. Right now, speaking lets me travel and meet new people — and take home a little cash besides.
  • Selling stuff — Outside actual work, my largest source of income has been through selling stuff. I accumulated a lot of crap when I went into debt. To get out of debt, I sold much of this. There's still a lot left to sell, which ought to bring in few thousand dollars.
  • Medical research — In 2008, I made $120 for participating in a one-hour research study. And it's not just me: Staff-writer Donna Freedman has participated in a variety of medical studies.
  • Lending money — While I don't advocate lending money to family and friends, there are times that making loans can be a smart choice. In my case, I've loaned money to a local business owner. I know I'm taking a risk, but I like the prospects — and the interest rate. Maybe I'll be singing a different tune in five years, but right now, this is a great source of additional income. (Note that under my new personal-finance framework, this might actually belong in the “saving” category.)
  • Unclaimed money — As I've mentioned, my father opened an annuity for me in 1977, when I was just eight years old. Then he forgot about it. When found, that abandoned account brought $438.79 into my pocket.

These are actual methods I've used to make money over the past decade. These aren't pie-in-the-sky recommendations, but actual things I've done to put cash in my pocket. (There are probably others that I'm forgetting.) And I'm always looking for new ways to make money. If Kris would let me, for instance, I might explore real-estate investing. Plus, I've considered doing some sort of consulting work (blog consulting? success consulting?).

Multiple Streams of Income

I suspect some of you have already noticed that I'm striving to have the proverbial “multiple streams of income”. For those who haven't immersed yourself in get-rich-quick literature, that means that I try to have as many income sources as possible. This is the same principle as diversifying your investments; you're able to obtain the same results but with less risk. If you have only one source of income — such as your job — you're in a world of hurt if that source dries up. But if you have several sources, you've always got something to fall back on.

Example: I have a friend who does a great job of having multiple streams of income. First, he owns a small business, which is his primary source of income. Next, his family owns a few restaurants, which provide more income. Finally, he owns tiny pieces of lots of other businesses. He says that if he can make $100 a month from dozens of different income streams, he feels more secure than if his income all comes from one place.

Having multiple streams of income doesn't just reduce your risk, and it doesn't just boost your cash flow. I think it's also fun. In fact, that's one of the biggest draws for me. I enjoy having money trickling in from lots of different sources. Here on my desk, I have:

  • a royalty check from a book I contributed to
  • a check for an essay I recently wrote for the radio
  • a check from the business I loaned money to
  • a check related to my blogging duties

What fun! In addition to these income sources, I field offers from folks all the time who want me to write for them, or who want me to be a spokesman. (I was once asked to be a spokesman for Coinstar, of all places!) These offers come because of other work I've done. In other words, earning money sometimes leads to more opportunities to make money. (This isn't always true, of course. I know I'm in a unique and fortunate position.)

No Theory, No Inspiration

So there you have it: an article without theory or inspiration. These are the ways I've made (and continue to make) money. My methods are based on my own skills and preferences, just as your methods will be based on your specific personality. Only you can say for sure where opportunity lies.

One thing I know for sure, though: None of my income sources “just happened”. I had to hunt for them. I had to make the effort. My income has been relatively high over the past five years, but that's because I've made it a priority. I've worked hard to make more money. As a result, my cash flow has increased.

Next week, I'll share more real-life ways I've boosted my cash flow — but I'll focus on the spending side of the equation.

More about...Side Hustles, Career

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Mary Kate
Mary Kate
9 years ago

Another great article. Thanks for the real life peak into your life. I found it interesting.

AC
AC
9 years ago

JD, I think you hit the nail on the head at the end of your post when you said you made your income a priority. I have been able to increase my income by 20-30% each year by making it a priority. I am sure this would not have been possible had I not focused on just simply learning how to make more money. I guess my next focus should be on the multiple sources.

Nicole
Nicole
9 years ago

Neat article, very interesting. Multiple income streams are fun. So far I tend to just take things that fall into my lap, but more recently I’ve been working on grants and other things that can get me summer money.

Elle
Elle
9 years ago

It’s interesting to see how others earn income. Very encouraging that you were able to take some hobbies and skills you enjoy and turn them into income streams.

Thanks for sharing J.D.!

Marilyn
Marilyn
9 years ago

Hey JD, I think this was inspirational. Real-life examples get my wheels turning (hey! how can I do this!)

DH and I started making money from 2 additional income sources. It’s great fun to have extra cash rolling in from other sources.

CEE
CEE
9 years ago

How do I make money? I have a janitorial business with about a dozen part-time employees. I’ve started several over the years. I’ve only worked it part-time myself for the past 30 years with only a few full-time weeks interspersed. Average about 5-10 hours/wk. Income last year was $65k I have 6 rental homes that are professionally managed and so I spend minimal time (almost none at all) managing them. 2 are paid off. They generate about $10k free cash flow annually and will fuel our retirement. I’ve also bought, renovated and sold for profit a couple of houses over… Read more »

M
M
9 years ago

I would organize my sources of income under two categories: earned and unearned. Earned income being income from actually doing the work (e.g. 9-5 job), and unearned income being income from more passive sources (e.g. royalties, loan interest). I think it is important for individuals to evaluate their sources of income in these two categories. Unearned income is especially important if you are lacking in that department because our ability to earn income actively is limited by time.

NooraK
NooraK
9 years ago

I have a regular 9-5 office job, but I’ve also started my own direct sales business. It’s a lot more fun, and I see a lot more potential in it than my 9-5.

Kim
Kim
9 years ago

“My wife has made some side income from her hobbies, too: gardening and food preservation”

I’m quite curious about this bit! What avenues has she used to make money from these? Just farmer’s markets, or something else?

Kris at GRS
Kris at GRS
9 years ago
Reply to  Kim

I earned prize money for some jam and preserves the last two years at the fair, but “income” may be stretch! I have donated many gardening and food items to fundraisers in lieu of a cash donation (ie. to preschool auctions, food-bank fundraisers) and arrange swaps/trades of my goods for others when I can. This isn’t actual new cash in my pocket, but it does help keep cash in my pocket! I would love to be able to sell my pickles, jams and salsa but Oregon law won’t allow this without having a commercial kitchen. Maybe someday when I retire… Read more »

Chase
Chase
9 years ago

Interesting article. One thing I worry about regarding multiple streams of income is the loss of focus at your most important stream of income. If I have these alternate streams of income, my attention may be shifted from my day job to a “side job” periodically throughout the day. That shift may actually end up hurting my income stream by decreasing my performance. Considering the pay ceiling for engineers are pretty high, once you get into management positions, I’d be wary to risk that future income (>100% increase from my current income) for a couple thousand extra a year. Of… Read more »

Julie @ The Family CEO
Julie @ The Family CEO
9 years ago
Reply to  Chase

Chase, I totally get where you are coming from. My husband has a career that he enjoys and is really good at. He has neither the time nor the desire to develop other streams of income. That’s more my bag. 🙂

Something that may be particularly suited to you is dividend investing that throws off a stream of income. The only time required is the time to learn about it and, if you’re into that kind of thing, it would be enjoyable.

Luke
Luke
9 years ago

I’ve got the obvious income stream (my 9-5), but I also make/re-make some money by regularly recycling my entertainment purchases (DVDs) etc. into new sales on eBay or Amazon Marketplace. This isn’t an income stream as such, but any sales money is ploughed back into savings, which provides a (small) passive income stream in the forms of savings interest. I also get some small dividend payouts from a high yield bond fund I invest in and low-value loans made to a social lending site. Hoping to drop down my hours at work and buy a house with a garden next… Read more »

Wade
Wade
9 years ago

My main source of income has always been a 9 to 5 job. However, I am trying to diversify a litte by starting a little website with a friend and thinking about starting a blog (I just need to find a niche). I’m also trying to learn a little about web programming. Should be a fun time.

Crystal
Crystal
9 years ago

The longer I blog, the more I love multiple income streams. My husband and I have never been able to save so much and spend so much at the same time before. I have my day job as an office worker and my blog. My husband has his day job as a school librarian (for now) and he refs high school football and basketball. Since we can live and have hobbies off of my husband’s day job income alone, my day job and our hobby jobs all fund our savings. That gives me a sense of security that I truly… Read more »

L. Marie Joseph
L. Marie Joseph
9 years ago

You forgot to add Karma, JD you have helped various people (including myself) add more readers to their websites and become well known in the personal finance arena. I thank you for giving writers an opportunity to display their writing via guest posts.

When you help and serve people you’ll get back double in return. Your life is great because you are not selfish in giving

HollyP
HollyP
9 years ago

You may feel nervous but you don’t sound it. I’ve heard you twice – 2 years ago on On Point and again last month with Tess Vigland. You really sounded great, very confident and intelligent both times.

LifeAndMyFinances
LifeAndMyFinances
9 years ago

Having multiple streams of income is very important. Even if both spouses work, I still don’t think that’s enough.

Let’s say one of them loses their job, you’re already down to about 50% of your normal income! But, let’s say each of you has side income as well. If one job fails, you may only have to adjust slightly in order to live on your 75%+ income that is remaining.

HollyP
HollyP
9 years ago

That’s a great concept, but not realistic if you have small- to medium-sized children who need a lot of care & supervision.

That doesn’t mean one can’t have a back-up plan and keep skills current so that one is prepared in the event of a job loss. When MrP left his job abruptly last year, we had an emergency fund, had data so we knew where we could cut spending to balance the books immediately, and he had an amazing and unique skillset that landed him a consulting gig almost immediately.

HollyP
HollyP
9 years ago

@Chase, I worry about the same thing. I have a nearly f/t job I love, and kids. No time for other income streams, but I’m okay with that. I earn a good salary, with potential to earn more if I want to work at it. Personally I’ve decided I don’t want to continue advancing for the foreseeable future.

Once my kids are grown, I will probably start looking at alternative income streams as a way to transition out of the f/t workforce.

Nicole
Nicole
9 years ago

Oh, also dividends… Dividends are my favorite income stream. Though for the most part I just drip them. http://nicoleandmaggie.wordpress.com/2011/02/03/dripping/

Luke
Luke
9 years ago
Reply to  Nicole

I’m also a fan Nicole, although my dividends are decidedly modest at this point 😮

Still, we all have to start somewhere, right?

Kevin M
Kevin M
9 years ago

@Chase – I have the same worries – F/T regular job and a wife and kids I want to spend time with after I get home. But I also want to get something going on the side, just in case. I tend to be an “all or nothing” guy but realized the side income may not ever replace my F/T earnings, so just go slow and build the business the way you want to. My goal is when my kids go to school in 5 years, I’ll have enough from the side gig and my wife returning to work that… Read more »

Elizabeth
Elizabeth
9 years ago

Thank you, J.D.! It really helps to see what the “big picture” could look like. My full time job eats up most of my time, but I worry about not having any other income streams (other than investments, I mean.) I’d eventually like to branch out into teaching and freelancing, but I’m worried about burying myself in work and not investing in other parts of my life — like volunteering, friends and family and dating.

Amber
Amber
9 years ago

I like that these are all little, doable sources. It shows the difference between say, owning a separate rental property and renting out a room in your house. Anyone can rent out a room with very little up-front investment.

My 2nd (little) income comes from mystery shopping. I make between $50 – $200 month test driving new cars :0
I do it because it is fun.

C
C
9 years ago
Reply to  Amber

Amber,

I’ve always read about mystery shopping as me or my wife would be interested, but then I read that there are a lot of scams, etc. How did you find a legit place to mystery shop?

Donna Freedman
Donna Freedman
9 years ago
Reply to  C

I did an MSN Money column on mystery shopping as well as on making money from other sources (thanks for the link, J.D.):
http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/how-to-become-a-mystery-shopper.aspx

Eileen
Eileen
9 years ago

Great post. I think I might be one of those at risk of entering the “world of hurt.” When I saw the title I thought (and hoped!) this was going to be about how GRS makes money. It always blows my mind that a blog can generate a significant amount of revenue, but obviously I don’t really understand advertising. Now I know how many other sources of income you have, but if you are at liberty to reveal even more, I would love to read a post with actual numbers about how this blog makes money. (I am probably not… Read more »

Tyler Karaszewski
Tyler Karaszewski
9 years ago

I am pretty heavily invested in my primary career, and have little desire to diversify, as pretty much everything else is less lucrative than software engineering anyway. Sure, if I lose my job for some reason, it’s a bigger blow, but the better a programmer you are, the more likely you’ll be back at work somewhere else in no time. I’d rather be an excellent engineer who can get hired almost anywhere than a mediocre engineer that has trouble getting hired anywhere, but can also make money from my hobbies or by participating in medical experiments.

Catherine
Catherine
9 years ago

Tyler makes a good point about the value of a person’s time. I only invest my time in low paying work if it has a realistic potential of leading to higher income in the future through either contacts or training. Not saying I wouldn’t sell my plasma if I were in dire straits, but the same time could be spent writing a financial article for the same or a lesser amount of money with a far greater upside — honing my skill as a blogger, developing a killer sample to send to people like JD, and building on my resume… Read more »

Susan
Susan
9 years ago

I really want to second what Tyler is saying because I think some people lose the big picture when they listen to financial help people touting how you can make more money by taking on a second job, finding small income streams, etc. If your primary career is a demanding one with potential for raises and promotions, you might actually hurt your chances of those raises and promotions if you become distracted or exhausted by making money at “side jobs”. Many careers require a lot more than just 9-5 putting in the hours. I supervise people and have seen this… Read more »

Nate
Nate
9 years ago

Agreed. When I started reading this blog in 2008 — I had an income of 38k a year. I focused heavily on my career instead of putting time into additional sources of income. In 2009-2010 I made 76K — in 2010-2011 I will make over 110k. I found it very productive to invest in hard skills that were really transferable (which lessoned the fear of what would happen if I lost my job)…

trb
trb
9 years ago

Agreed again. My 9-5 is good enough money, and I spend those hours making sure I am good enough at it to be kept on or hired elsewhere if I choose. After those hours, I need hobbies and spouse time and community engagement that isn’t driven by financial goals.

AC
AC
9 years ago

There are two assumptions being made here:

a) The skills you are investing in all your single income stream time in are really marketable and transferrable.

b) The income from multiple streams will not be nearly as much as the single stream in the long run.

bon
bon
9 years ago

Totally agree, I pursue everything else as what it is – a hobby – if I decide I want to make a change in the future then I’ll have a decent foundation, but it is VERY worthwhile to put your creative energy into your full time job

Cindy Brick
Cindy Brick
9 years ago

Your story emphasizes one truth, JD — if one thing dries up (say, you get laid off from one job, or the magazine goes out of business), there are others to keep at least some income flowing in. My mom urged me to learn at least three skills well, so regardless of the situation, I could support myself. And when my writing and teaching business was just starting out, it was the catering and secretarial work that kept things going. I still take a gig or two now, just for fun. And it helps out. I’ll be managing friends’ insurance… Read more »

retirebyforty
retirebyforty
9 years ago

I like multiple sources of income too. It’s a great way to live if you can do it. My main source of income is from the day job right now, but I am working on other sources. Do you have to take pills in the medical research? I’ll probably pass on that.

Heather
Heather
9 years ago

I would *love* to do public speaking – I’m good at it and enjoy it, based on presentations I’ve done at conferences – but I don’t have the first clue how to get a speaking gig, much less one that pays. I don’t have a blog with 40,000 subscribers…

Erica
Erica
9 years ago

I think so much of whether or not this multiple-stream life works for a person depends on their personality type (like their Myers-Briggs type). I have five part-time jobs (one is my own business, the others are a mix of consulting and employee relationships), and am starting up a sixth. Plus a ton of volunteer stuff. I thrive on this! (And I have enough time to read and comment on blogs). My personality type is ENTJ (aka “Fieldmarshall”). Like many of the commentors, having a lot going on is fun for me. I have an introverted friend (INFP) who has… Read more »

El Nerdo
El Nerdo
9 years ago
Reply to  Erica

Yes, I’m an INTP/INFP (it’s a weird 50/50 in the way I make decisions), and i do have several irons in the fire, but I have in recent years *reduced* their number for the sake of focus, sanity, and proficiency. My wife and I run a small business– we make tiny movies and shoot commercial video. On top of that I also made websites, wrote advertising copy, did a bit of graphic design and wrote for a local publication. My wife taught a couple of college courses. It was bananas! We used to work 18-hour days, mostly sitting at the… Read more »

First Gen American
First Gen American
9 years ago
Reply to  El Nerdo

Like Tyler..I’m also an engineer and I’m also in sales, so any slacking at work results in an immediate pay cut because if I don’t hit my number, I don’t get a bonus. In addition to being a poor performer and the risk that induces, it also means I’d earn a lot less money (and the difference is way more than I’d ever earn blogging).

Although I’m very interested in developing side incomes for retirement, I realized that I just don’t have the capacity to do my day job well if I’ve got too much other stuff going on.

Money Reasons
Money Reasons
9 years ago

Thanks for the personal take on how you make money!

I would like to start a more diverse mix of multiple streams of income someday. As you say, it would definitely reduce the risk of losing your primary job.

Just curious, have you ever though of dabbling in real estate? Personally, I constantly think about this option, but I haven’t taken the leap yet.

That said, may of my co-workers and other financial bloggers I know have taken the plunge and seem quite content with their choice…

Jonathan
Jonathan
9 years ago
Reply to  Money Reasons

Do it! RE investing, at its core, is very simple. There’s rental income coming in, there are taxes, insurance, and maintenance going out, and there are mortgage payments to cover with the income. Find something that makes sense regardless of changes in the property value, and hold. Income for life with a tangible asset backing it up.

Money Reasons
Money Reasons
9 years ago
Reply to  Jonathan

I think the parts that worry me the most are
1.) Dealing with difficult tenants. This might be easier in a decent area though.
2.) Taxes (although I probably would consider hiring an accountant at this point).

Thanks for the info 🙂

Roberta
Roberta
9 years ago

The bulk of my income is from my private practice (psychologist) but on the side I edit manuscripts, mostly for fun and to use a different set of skills, but it’s nice to have a side hustle!

Ginger
Ginger
9 years ago

I love have multiple streams of income. My fiance has his job plus we have a renter, and I do focus groups. Right now I am a student so I do not have a paid job. I am thinking of starting mystery shopping over the summer when I have more time and picking up some serving shifts (I am on call for a serving job). If my fiance lost his job I could take on more shifts. Even with this we live only on his income. It does make life a lot more relaxing.

Everyday Tips
Everyday Tips
9 years ago

I have seriously been thinking about multiple income streams the last few years. I have always invested, but didn’t really think about income (dividends).

I have sold things on the internet also, and sell books on the side on Amazon. I have my blog and I work part time in IT. Obviously my IT job provides the most income, but I am trying to establish my blog so I have options.

In this economy, having options is incredibly important!

Traci
Traci
9 years ago

I work a job I enjoy for 32 hrs a week. I could work 40 hrs however I choose to enjoy time with the kids and be involved in their various activities, school stuff, & sports. I make up the difference by living as frugal as possible and I also buy at yard sales and thrift stores and then sell on ebay. I also sell at an antique street fair 1 day every other month that brings me about $500 each time. I did do a medical study once where I made $375 over 4 visits. I have test drove… Read more »

Kim
Kim
9 years ago

I have had to learn to make earning a priority. I have lost some clients because of it, but my time is valuable and I need to get out of debt. It is so easy to devalue yourself when you run the business. There is always someone who will allow you to work for next to nothing. Thanks for the post it reminds me that I am important. When I place an order for people I ask myself how much will I make on this? If I am not making a profit I don’t take the business.

Justin
Justin
9 years ago

As a lot of other people on here have said, having several streams of income is huge. I can’t say that I’m making huge money on the side yet, but I know that if I lost my day job, I can easily make at least $100/day with freelancing until I find another full time job. I’ve actually debated on whether or not I’d rather do that instead of my day job, but I haven’t decided it to be the best course of action yet.. I think having one “secure” job is just not he way to go anymore. If your… Read more »

Catherine
Catherine
9 years ago
Reply to  Justin

A person with one job has to be vigilant about understanding that company’s financial health and to pay attention to internal signs (like a bad review or change in corporate management) that could jeopardize his/her job. People rarely lose their job without warning. If you have only one source of income, you should be on a perpetual job search and make sure to continually network within your industry.

chacha1
chacha1
9 years ago

My primary gig is legal support, but after a layoff I was able to pay for our groceries by giving dance lessons. My exit strategy (i.e. plan for “retirement”) helped us live more comfortably through 4 months of unemployment. I just had my Myers-Briggs done and was completely unsurprised by the result. I am a solid Introvert and do not get energy or inspiration from constant interaction with people. This limits what I can succeed at (e.g. I suck at sales), but it also helps define the things I am very good at. Dance lessons, oddly enough, I find non-stressful… Read more »

Squirrelers
Squirrelers
9 years ago

I like your approach and way of thinking here. Really, it’s a matter of keeping an open mind, being resourceful, and acting on ideas to diversify incoming cashflow. It seems like you’re really doing a great job with that. In this day and age, while there are many economic issues, there are also more opportunities for generating “side” income.

Chett
Chett
9 years ago

I understand the need and desire for multiple streams of income. But, I would think many of the ideas you mentioned in your post would also equate to multiple streams of time suck. If these income streams relate to areas of passion and you don’t have a family that is waiting for an investment of your time, then I guess there isn’t a problem. For me though, every interest, hobby, and residual income opportunity I purse takes a little more time away from my largest asset, my family, so I choose them carefully. If there are people out there that… Read more »

J.D. Roth
J.D. Roth
9 years ago
Reply to  Chett

Ha! “Multiple streams of time suck.” I love it. It’s apt. It’s very true that you are trading time for money in most instances. It’s a fine balance to walk…

John Sherry
John Sherry
9 years ago

I think it’s true that there are an ocean of financial possibilities out there from multiple streams of income JD. Despite the global economic brakes there has never been a better time or more options to making money, earning money, recieving money, and generating money. All it takes is an open mind and an entrepreneurial spirit mixed with exploring as many ideas as your outlook can accept. Money is confidence so have confidence in yourself and the two will soon meet!

Pat S.
Pat S.
9 years ago

Very cool. I think too many posts deal with cutting expenses, and not enough deal with making more money. I think a combination is truly the best way to go about making a real difference. Glad to hear you’ve found so much success with writing. You’ve definitely earned it with your hard work at GRS.

Wilson
Wilson
9 years ago

Beautiful photo of Opal Creek. I should have visited there more often when I briefly lived in Salem for a year in the 90’s. I’m glad I have an extra stream coming from the rental side of my double shotgun (duplex). Keeps my mortgage low, especially as the wife’s firm may not have enough work to keep her busy for much longer. Paying the house note won’t be a concern as long as it’s not empty for a very long period Also trying to convince my wife to buy a rental property. The one I want is out of state… Read more »

Kristi Wachter
Kristi Wachter
9 years ago

Wow – I JUST finished reading John Scalzi’s post today talking about multiple streams of income:

http://whatever.scalzi.com/2011/04/13/multiple-revenue-streams-revisited/

I think one aspect of that that doesn’t get talked about is the built-in networking: when you’re bringing in money in more than one way, you’re usually working with different groups of people, and you automatically increase the number of people who know about you and know how well you do your work.

DreamChaser57
DreamChaser57
9 years ago

I truly believe there has been an irreversible paradigm shift. The days of working for a company 20-40 years, receiving a pension and a nice watch are over. We are in a global marketplace; people are often compelled to change jobs frequently, the Internet has truly made the world flat, enabling people to have access to information and exposure to remote places instantaneously. This coupled, irrespective of your political persuasion, that countries can no longer fund entitlement programs and pensions are even severely underfunded points to the necessity of cultivating multiple income streams. I was recently listening to Jaime Tardy’s… Read more »

Jennifer Atienza
Jennifer Atienza
9 years ago

JD –

Can you or one of your writers do a series on side jobs/incomes or passive income?

I myself only have my 9-5 job and would love to be able to diversify my income sources.

I do invest on the side, and I suppose those dividend payments are income.

Anyway, I think it will help the group to get a list of ideas of how and what to do as a sustainable side business.

Alice
Alice
9 years ago

I just checked out the missing money site and found a claim from when I lived in another state. Thanks JD! Now to follow through on the paperwork to get the $50-$100 check…

As for my income, I have one 9-5 (ha – it’s 8-5 except when I’m flexing, does anyone actually have 9-5? Wouldn’t that be no lunch?), and then have done occasional side gigs and selling items on Amazon.

olga
olga
9 years ago

Hobbies. I used to knit sweaters, then I was tailoring clothes, making unique x-mas stockings. Teaching yoga. Coaching runners. Got LMT license and doing massages. Personal training. Sold a few of articles to magazines. Old books on Amazon and halfprice. Answering questions on interent for miles or gift cards. Extra is nice (besides 9 to 5). Balance is important.

The Other Brian
The Other Brian
9 years ago

I don’t mean to quibble but I don’t think selling Stuff that you already paid for is considered income. More like recapturing your losses.

Chett
Chett
9 years ago

It is if you sell it for a profit.

Michelle Davis
Michelle Davis
9 years ago

Dont forget about learning a skill. I took a twelve week pet grooming course and opened a grooming salon in my garage. I can work my own hours and days. Sometimes I make anywhere from ninty to one fifty a day. Most important I get to stay home with my daughter and work at something I love.

Ashley
Ashley
9 years ago

just popping in to say that I loved this post. Been a reader for a while now, but this is my first comment (yay). It’s always interesting to me to see how other people make money, especially those who I view as being “successful” (at least by my standards, for a lack of a better word). I look forward to each of your posts!

Chris
Chris
9 years ago

Hi

Anyone got any ideas where I can look for some freelance writing work? Some of my work is published on the BBC website (I’m based in the UK) and I really enjoyed writing it. My specialisms/interests are IT, outdoors stuff (walking/climbing etc) but would happily try writing other article types.

Thanks in advance for your ideas.

Chris

Tom
Tom
9 years ago

Hey JD, do you find the multiple income streams make your tax time a little more complicated? Do you have a CPA or do you do it yourself? I was thinking that maybe if I made $10k from 5 different sources, I’d no longer want to do my taxes for myself than making $50k from a 9-5 job.

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