Multiple Income Streams | Why You Should Have More Than One Income Stream

A Job Is Just One Income Stream

A job is just “one” source of income. If it ends or you are not able to work it. It ends. This means that if your income source is gone, you have no money coming in or the ability to make income unless you get another job immediately. A job is not permanent. It is not guaranteed. It has limitations. You can only work when the employer says you can, you can only make what the employer allows, you can can only be paid what the employer offers. And in some states, employment is at will. This means that the employer or the employee can end the relationship at any time. A job is an active source of income. If your employer does things right, you are paid on a certain date, for the time you worked. You are paid wages for the “active time” you spent or put in working the job. Once you stop, that’s it.

Multiple Streams Of Income

Multiple streams of income are just that. Multiple. More than one.

Income is coming in or the ability to make income is present from multiple sources. It is having more than having a job. It is not dependent upon your initial job. It is other income streams that you have set up for income, to receive income. For multiple streams of income to flow.

Why Should You Have More Than One Stream Of Income?

Multiple streams of income guarantee income or the possibility of income. You are not dependent on a job or an employer. If you should lose your job, you have other streams set up to make income or obtain income. It increases your net worth. It increases your personal finances.

Types of Income Streams

Passive, Residual, Stocks, Real Estate, Businesses, Products, Trading, Blogs and more. These assets allow your money to work for you without you having to physically work. The initial set up and maintenance of these assets is all that is needed. In some instances, you can make money while you are sleeping.

It Gives You Time Freedom

Multiple streams of income, give you wealth. For some, wealth is time freedom. The ability to use your time doing the things you want to do. You are not tied down to a job or putting in sweat equity. You are free and your money is working for you. Time freedom may look like the picture above or traveling. It may be working on the mission project that you are passionate about. It may be starting or working on a non profit. It may be volunteering somewhere. It’s the freedom to do what you want to do with your time.

How Many Streams Of Income Do You Have?

Comment or name them in a reply to this post! If you would like assistance in creating more than one income source. Contact me to today! I have a fabulous opportunity for you.

Bridget Denise Webb

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Est. 2019 | Inspiration, financial education, and information for financial wealth management.

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Cost Of Living For Each State | United States Of America

What is Cost of Living (COL)?

Cost of Living is the level of prices relating to a range of everyday items.

Google

The cost of living is defined as the amount of money needed to sustain a certain standard of living by affording basic needs such as housing, food, healthcare, and more.

World Population Review

How Is Cost Of Living (COL) Used?

Cost of living is used to see how much it costs to live in a particular state. If you’ve never taken the time out to find out what this amount is, you should. It can help in determining and making economic decisions for your life. It will help you realize how much things cost in your state. You have no control over the state you are born in, however, once you reach the age where you can make your own decisions, you have control over whether you want to stay in your birth state or move somewhere else.

Have you thought about moving?

If you are transistioning to another state, this is good information to know. For example, if you plan on renting an apartment, the amount it cost to rent an apartment in Oklahoma is not the same amount to rent an apartment in California. In fact, an apartment in California can be in the two thousand dollar range per month. Why? The cost of living for each state is different. The prices for food, clothing, gas, and etc., are different.

The cost of living is often used to compare how expensive it is to live in one location compared to another and is also used as a big factor for people to determine where they want to be located in addition to cultural attractions, the job market, and other factors.

World Population Review

Bottom Line

Some states are more expensive to live in than others, knowing the cost of living for a particular state that you are considering will help you factor in how much it will cost for food, shelter, transportation, energy, clothing, healthcare, and if you have children, childcare. All these things are different for each state.

How Are The Cost Of Living (COL) Indexes Factored?

Cost of living indexes are expenses used to track how much the cost of basic expenses raise over a period.

Expenses used are: Food, Shelter, Transportation, Energy, Clothing, Healthcare, and Childcare.

The Least Expensive State To The Most Expensive State

Based on November 2020 data.

  1. Mississippi
  2. Kansas
  3. Oklahoma
  4. Arkansas
  5. Missouri
  6. Alabama
  7. New Mexico
  8. Georgia
  9. Tennessee
  10. Indiana
  11. Michigan
  12. Iowa
  13. Texas
  14. Ohio
  15. West Virginia
  16. Nebraska
  17. Louisiana
  18. Kentucky
  19. Idaho
  20. Wyoming
  21. Illinois
  22. South Carolina
  23. Wisconsin
  24. North Carolina
  25. North Dakota
  26. Utah
  27. Montana
  28. South Dakota
  29. Puerto Rico
  30. Florida
  31. Minnesota
  32. Arizona
  33. Virginia
  34. Pennsylvania
  35. Colorado
  36. Delaware
  37. New Hampshire
  38. Nevada
  39. Washington
  40. Maine
  41. Vermont
  42. New Jersey
  43. Rhode Island
  44. Connecticut
  45. Maryland
  46. Alaska
  47. Massachusetts
  48. Oregon
  49. California
  50. New York
  51. District of Columbia
  52. Hawaii

What number is your current state? Let me know by leaving a comment with your state and it’s number on this blog post.

The Least Expensive State To Live In & Most Expensive State To Live In

According to the data, the least expensive state to live in is:

The most expensive state to live in is:

Do you live in either state? Leave a comment on this blog post letting me know.

Cite:

World Population Review: https://worldpopulationreview.com/state-rankings/cost-of-living-index-by-state

Bridget Denise Webb

Use This Expense Tracker To Find Out Who You Are [Printable]

How To Use A Printable Expense Tracker To Find Out Who You ARE!

Do you think that things will be different when you get a certain amount money? Life will change and everything will be grand because you have acquired a significant amount money that will allow you to do the things that you aspire to do or would like to do, however, the only thing that is holding you back is the finance? The money.

Your preparation or what you did or do during the times you don’t have it, is what will be present and in action when you do receive it. Or what will allow you or disallow you to receive it.

Money magnifies who and what you are.

Your same level of knowledge concerning money, plan or no plan, habits, strengths or weakness will be present with or without money.

One way to find out who you are is to follow the money. What do you spend money on? Big or small purchases or expense. Follow the money.

Expense Tracker | Printable

An expense tracker allows you to track what you are spending money on. In return it gives you keen insight into who you are. What your needs, wants, miscellaneous spending, giving, and habits are. An expense tracker printable gives it’s users the ability to track and follow the money they have been spending. It can be downloaded and printed before and after use. An expense tracker printable can be printed anytime one is needed, which saves the user from purchasing an expense tracker over and over again.

Expense Tracker

A digital, printable and functional expense tracker that allows you to track your everyday expenses!

Expense Tracker

A digital, printable and functional expense tracker that allows you to track your everyday expenses!

$7.00

Click here to purchase.

Expense is the cost required for something: the money spent on something. (Google). This is noted at the top of the Expense Tracker printable for sale above. This definition gives the focus and directive you should have and keep while using the Expense Tracker printable. Whatever is spent for something, the cost for it should be listed and therefore tracked.

Create an Expense Tracker Notebook, Expense Tracker Binder, or Expense Tracker Diary

In using an expense tracker printable, you will successfully acquire sheets of tracking your own expenses. It becomes your own data that you can research, refer to, look back on, and gain the insight needed to make the changes needed or to put in place new directives that you want your finances to go in. Maybe you need to implement increasing in a certain area or decreasing in a certain area in order to reach a certain goal or to live your best financially. An expense tracker printable will allow you to accumulate your data. To research yourself. To get the information you need to do this. Successfully tracking yourself for a month will allow you to be able to create an Expense Tracker Notebook, Expense Tracker Binder, or Expense Tracker Diary. Whatever is your desire.

Expense Tracker Bullet Journal Printable

An expense tracker printable can easily be implemented into an Expense Tracker Bullet Journal Printable for a Bullet Journal. The ability to bind the printables to become a book, notebook, journal, or diary is present. The use of a hole puncher could also create a functional notebook binder.

Best Expense Tracker

The best Expense Tracker is one that best fits your needs and that inspires you to use it.

Some needs are that it is functional, simplistic in nature allowing you to think and see cleary what you are doing and what is going on, and that allows you to gather the information needed. Nothing distracting and the attention is on the task and not creative design. If that’s you, the Expense Tracker listed in this blog post for sale would help you achieve that.

Some needs are that is creative and inspiring. Motivational. It makes you want to pick up and use it. You feel like you are really creating something or doing something. If that’s you, the Expense Tracker listed in this blog post for sale, has a motivational directive.

If you like colors and designs, bullet journaling, creating, go for it! If you need a more accounting and financial approach, go for it. Go for whatever is going to help you get it done.

To find out who you are start tracking what you are spending money on now! You may be surpised at what you find out, however, you will be armed with the information needed to navigate and begin implementing the changes and strategies needed to be who you want to be financially!

Bridget Denise Webb

New E-Book! GOD’S MONEY

How do you view the money that you have or receive? How do you view money, period?

Find out how you should view money with supporting scriptures to build your faith in GOD’S MONEY.

cropped-gm-pdf.png

Get yours today on Etsy!

Bridget Denise Webb

Poverty Operates Via A System. Wealth Operates Via A System. There Is A Difference. #ImNotSettling

Single Goals 4 Houses = A Hotel

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