There are a ton of ways to make some extra money. But the majority of people out there don’t look for extra income sources. Instead their only income stream is their job. There are so many disadvantages to that strategy and so many reasons to look outside of your work.

Here are just a few reasons to look for income streams outside of your work.

1. Diversify

We hear about the importance of diversifying our investments, yet we hardly ever hear about why we should diversify our income sources. If all of your money comes from your job and then you get fired, your out of luck. Are you going to have to sell your blood for food?

On the other hand if you have something like a legitimate internet business, and maybe some investments on the side you are going to be in a much better position if something happens.

2. We All Change

We are taught to look for a job that we want to do for the rest of our life. But we change throughout our lives. Why do you think that most people will change their college major at least once? It’s because we change. Because of this it is always nice to pursue multiple different avenues, that way we do not just close ourselves into something that we will not like 5 years down the road.

3. Ease of Mind

One other reason to look for other income sources is the ease of mind that comes with having 3 or 4 different income sources. That way you at least know if you lose one source of income then you will still be ok. It takes some of the pressure off and lets you be yourself rather than conform into the workplace.

4. Financial Freedom

Working 40 hours a week until you are too old to do anything is kind of scary, wouldn’t it be nice if you did have to do that? That dream can be reached. By creating alternative income sources you can free yourself from your work and be free to spend your time however you darn well please.

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