How I Diversified My Income

6 Ways to Diversify Your Income (Multiple Parallel Revenue Streams)

Photo by Mikey Harris on Unsplash

When I wanted to look for more ways to make a stable income, only two things came to my mind —

1. Either I make more income streams
2. Or decrease my spending

This year, I have started living a minimalist life. Not cheap. I now think twice before I buy anything.

For minimalism and managing, I have already written articles on my journey.

Now comes diversification. I know how much you want to do the same. There are many ways you can do so but…

it all comes down to 5 MAJOR ways. I am listing it here.

Fiverr Gigs That Sell Like Crazy

How to Diversify Your Income

There are many ways to do so. I am grouping here in 5 major ways.

• Side Jobs or Freelancing: If you have any skills (not need to be an expert!) then I advise you to try websites like Fiverr and work for others.
• Investments: I personally love stocks (guidance necessary). Some places you can invest are — Stocks, bonds, real estate, or mutual funds.
• Rental Income: Now this one is little bit out of budget for me but I am going to in the future. Property rentals or Airbnb ate the most money-making investment but remember before that you need money to invest :)
• Passive Income: Royalties are the best form of passive income. I have written a detailed article here.
• Online Business: It can be anything. For me, blogging and digital products have worked out well. Also Instagram store for musicians. The possibilities are limitless!
• Part-Time Work: Some options I came up with — Consulting, tutoring, or coaching.

Conclusion

Building a portfolio is not a day’s work. I have started doing this since 2021 but still haven’t achieved the goals because earnings can be so unpredictable sometimes.

But thats doesn’t mean I would stop myself from trying.

Remember — one step at a time.

See you soon.

If you want to know more about making money on Fiverr, then you can check out my book “How I Made Over $2K on Fiverr as a Freelancer (Part-Time)”. Happy Writing Journey!

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