3 REASONS WHY YOUR FAMILY NEEDS A SIDE INCOME
You may wonder if whether or not a side income would be a great idea financially for you and your family.
The answer is almost always yes. But why might you need a side income?
Have you felt stuck financially? We sure have. One time…
We sat in our one bedroom apartment in Spokane, WA watching the snow flakes accumulate on the ground below. It wasn’t going to be stopping any time soon.
A year earlier we moved to Spokane from Southern California as we needed to change things up.
Well change was on the way as Alisa was pregnant and expecting our first child.
It was in this setting that I was wondering how we were going to support our growing family. The work position I had taken to be in Spokane was going to be seasonal and I didn’t expect this at all.
Not a good thing as we were getting out of debt and saving for another mouth to feed.
As I sat in our dinning room with the computer on our table I Googled Dan Miller. He had been on The Dave Ramsey Show the week prior and I liked what he had to say about earning a side income.
As I looked at his website I found what I was looking for, 48 Days to Creative Income (now No More Dreaded Mondays).
I picked it up without a second thought. We needed to make some money fast! And the rest is history as they say…
Since that time we learned how to start a side income business as well as our current businesses that we have run for many years.
Each side income has benefited us from getting out of debt, to saving for vacations, to growing our emergency fund. We want you to be able to do the same for your family.
Now let’s look at the top three reasons why a side income may be a great idea for your family. Remember that a side income may come from a second part-time job, an online position, or even your own small business.
3 Reasons Why Your Family Needs a Side Income
Achieve Financial Security
As you have seen over the years the economy can be roaring ahead or it can be receding.
You may even have had friends, family, neighbors or coworkers who have lost their jobs, lost money on investments, been laid off, or have had issues paying their bills on time.
Do not let this happen to you!
Instead, think about how you can supplement your income and savings with a side income. The savings that you put away now from your side income can help to bolster your finances both now and in the future.
No matter what might happen to your current investments or your job.
Another option is to use your extra income to invest elsewhere to diversify your multiple income streams.
Save for More of the Things You Love
Is it getting close to needing a new car?
Maybe you and your spouse want to take a great family vacation in the coming years?
Planning a big event in the coming future (anniversary trip, college, wedding)?
Hoping for a romantic weekend getaway?
Not sure how any of these things could possible happen with your current income?
If this describes your current financial situation, then a side income could be the perfect solution. With your extra income, you can finally start saving.
With your savings after just a few months, or even a year or so, you could be quite a bit closer to making your dreams come true.
Plan Your Future
Planning for your future, now, can go a long way in making your future a much better place.
A side income can allow for you to plan for your future, or for the future of your estate.
Starting a side income could help you and your family finally get your emergency fund fully funded.
It may be a way for you to save for your child’s future education.
Or, think about investing the money from your side income in a personal retirement plan.
You may even want to use these savings to put a down payment or to payoff home in the future.
No matter what plans you have for your future, having a side income to save for the future can seriously help you to achieve those dreams.
Take action today and start your side income.
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