Building multiple streams of income has become a necessity for a lot of people. Gone are the days where a 9-5 job serves an individual’s needs and wants. Nowadays, the spectrum of the latter is so broad and nuanced it’s almost borderline incomprehensible, the old industrial age employment model is unworkable in 2020 and beyond.
The concept of multi-streamed income is simple, but to implement is harder. To start, the definition of having multiple streams of income means having various cash flows from different sources. One might think this is hard work – and it is – but if you have a long-term vision for financial success, this will come easier for you.
Multiple streams of income put someone in a better position to become more flexible and prepared when one fails or if there happens to be a crisis in the economy. This allows someone to have an extra, sturdy, and reliable cash flow to fall back on. It’s the creation of buffers for unforeseen economic, that can overnight destroy your income in one area.
In our current digital age, we are placed in a situation wherein having multiple cash flow sources becomes more and more accessible. This also allows us to take back control of our lives and work from anywhere if we want, curating the lifestyle we only once hoped for.
Myriam Borg, Create Australia CEO, is no stranger to this concept. At age 29, determined to start living the life she wants, started Create Australia – a completely virtual business model that is designed around providing individuals with the same opportunity for success. Create Australia is a refund consulting program that focused on the lost money industry – an industry helped create, and that aims to refund money back to its rightful owners.
The business was founded on the principles of freedom, flexibility, and fulfillment. It is widely accepted for its innovative approach to a start-up, being a completely virtual business with little to minimal overhead costs. This makes for a great business as it is practically recession-proof and empowers others.
There is a saying that “the most dangerous number is 1”, and in these uncertain times, most would agree that benefits of having multiple streams of income, as Myriam suggests, are endless and almost always skewed to the positive side. One, it creates a safety net for you. You don’t become dependent on one income alone. If a company decides to fire, you won’t have to worry if you lose one job. Secondly, this approach creates more financial security for yourself or your family. If one job is used to pay the bills, then the others can be used to invest or save, which can lead to starting a new business and more opportunities. Third and more importantly, building this approach now buys you time to save more and not worry about working your whole life. This means spending time doing the things you love or spending time with your family – something that matters to everyone.
At this point, the value of this approach is indisputable. Having reliable sources of cash flow is essential, and it’s completely up to you on how you act on that fact. Whether you do this to be financially secure or because you want to start a small business, just as what Create Australia CEO Myriam Borg did, the point is to never be in a position wherein you aren’t in control of your life.
Create Australia is a refund training program focused on a multi-billion dollar industry called the lost funds’ industry. It helps individuals build the life they want while helping others.
Learn more on their website CreateAustralia.com.au.