Empowering Ideas for Multiple Streams of Income in 2022
With inflation, things might be tight in your budget, and you may wonder how to make money in 2022. I want to empower you to see a brighter financial future for yourself and your loved ones. I am sharing four ways to make money and our family's multiple income streams.
How to have multiple streams of income
Think. What can I do? What opportunities would work for me? We get stuck in a negative mindset, making it an uphill battle to make more money. Why? Because you've already decided that it's not going to happen, and because you've told your brain to stop working, making money is impossible.
If you decide, I can do this; I can figure this out, then your brain will try to make that a reality. How can I? What opportunities would work for me? The type of thinking is a positive mindset.
Look for legitimate opportunities
Check Facebook. If your county has a work page, people post job opportunities. You can evaluate each job to see which job best fits you and your situation.
Work pages often have in-person opportunities, so if you're looking
This might not be the best fit for virtual work, but it's a great place to start evaluating jobs and deciding what you want to do for work.
Some exciting fields you might consider if you're looking for more online work could be a virtual assistant or a medical biller. Your schedule is flexible because you don't need to have scheduled meetings with people, which means if you have small children at home who like to scream during your meetings, flexible online work could be an excellent fit for you.
Look for needs
What kind of things are people looking for? If you're on your community page on Facebook and people are saying I'm looking for this service, pay attention to that. You could be the person that fills that need and maybe some of these needs. You may require some certification or training, but you could end up with so much business, and it would be lucrative enough to invest in training.
A field I see growing a lot is video editing. There are many people on YouTube, and no one wants to do their editing. You could be the person editing YouTube videos. Do you have some editing software? Do you have an editing knack? You could post your job on Fiverr, and you could offer to edit people's YouTube videos.
Another need I also see is childcare during the summer for working parents. Could you run a summer camp? Look for opportunities where there is a need.
Leverage your skills.
Instead of getting some new training, think of what skills you already have and how you could use those to make money.
Perhaps you are a stay-at-home mom looking to make money, and you went to college to be a math teacher. How could you turn that into a side hustle? Maybe you could have a math tutoring service—something that uses the skills and certifications you already have and turns them into a money-making opportunity.
Maybe you worked construction with your dad growing up, and you have all those handyman skills, and then you could use those to take on small handyman jobs or repairs. Use the skills you have to make your money.
Our 5 streams of income
Now I'd like to share the sources of our family's income streams. While many people have passive income streams as part of their multiple streams of income, we do not. Our income is active income that requires time spent to earn money.
The great thing about multiple income streams is that if something happened to one of our income streams, we could make that difference with a different income stream. Below is a list of our streams of income, from the ones that make the most money down to the ones that make the least.
1. My husband's W-2 job
My husband has a W-2 job; he is an auto technician fixing cars. This accounts for about 75% of our total income.
2. My music studio income
I teach private music lessons to approximately 25 students each week. I adore this job.
3. Our Airbnb
We have an Airbnb. We cover most of our living expenses with our Airbnb, a suite inside our house. I've got a YouTube playlist about Airbnb if you want to dive deeper into what that is like.
4. Long-term rental home
We bought our first house then we did lots of work on it. When we moved to this house, we kept our old house and turned it into a long-term rental. This is not passive. This requires a lot of intense work, about once a year. We do almost all the labor ourselves. So the long-term rental for us is not passive at all, but most of the year, it's much more passive than hands-on work.
5. YouTube channel
Our fifth and last stream of income, which is brand new, is YouTube. I just got monetized on YouTube. It's a very slow start, but this is a very exciting new stream of income.
Multiple streams of income in 2022
I hope I've given you ideas for making money in 2022. Remember to have a positive mindset, look for opportunities, fill a need, and leverage your skills. Multiple income streams are a great way to make money online or offline.