How to create multiple streams of income in your 20s

Plus, which income streams I personally built

Photo by Matthew Ball on Unsplash

You want to learn how to create multiple streams of income in your 20s. It’s so smart that you’re thinking about this as a young adult.

Building multiple sources of income can have a ton of benefits.

A few years ago, I poured all my effort into one main source of income and I lost 80% of that income overnight just like that.

I rebuilt, but, it was so hard.

Today, the same thing happened.

Around a few months ago, I lost two major income sources which in itself was an amount equal to a full-time income but because I had many income streams, I was ok.

I didn’t struggle to support my family or pay bills, I didn’t have to cut back or stress out about trying to find a replacement income super fast.

I learned my lesson from years prior.

When I was in my 20s…

I was a college graduate in a job that I hated.

I dreamt about quitting and doing something I loved but, I couldn’t find it in job postings.

I was searching for jobs off and on for years, not really finding what I was looking for.

I decided to start a business. As the business was growing, I knew I could one day quit my day job and run the business full-time. I knew multiple income streams were going to help me save up to keep a stash fund in case the business went south.

So, I started…

• Freelance writing and,
• Dropshipping

I wasn’t thinking “multiple income streams” at the time.

I just knew I needed a way to make more money fast. I wasn’t interested in getting a second job, and overtime at my employer was super limited. It almost never happened. So, I turned to writing and dropshipping.

Here’s how you can create multiple income streams in your 20s if you have similar or different goals.

3 Steps How to Create Multiple Income Streams in Your 20s

1. Make a plan.
2. Use your skills to your advantage.
3. Set your intention and go after it!

Making a plan

The planning phase is about laying the groundwork for this project. You want to build multiple income streams. You need to map out a plan to get there.

Use your skills

You probably have money-making skills right under your nose. Think about what you’re good at, what your interests and passions are, what you do for a living, what you’re studying in school, etc.

You can turn those skills into income.

For example, animal lovers could create an extra income stream in pet sitting or dog walking.

Creatives could monetize their drawing skills by selling artwork on Etsy or doing freelance graphic design.

If you have a love for baking, you could launch an online bakery and sell your baked goods over Instagram or on a private website.

There are so many ideas.

13 Realistic Ways to Make Some Extra Cash by Christmas

Write down your skills, interests, and passions. Then, consider what path you could take with those skills.

Set your intention

Write down your intentions, talk about them with people around you, put it on your vision board, etc. Then, go after it!

And, if you’re looking for income stream ideas to go after in your 20s, here are some ideas…

21 Ways to Build Multiple Income streams

1. Freelance writing (I write on Medium and other publications)
2. Dropshipping ( I had a lot of success with dropshipping a variety of products. It’s much more common today.)
3. Babysitting (Great for people who enjoy working with kids)
4. Online tutoring (Cambly and other sites)
5. Print-on-demand selling (POD sites like Printful and Printify are some to check out)
6. Dropservicing (Dropshipping services like SEO services, writing, video editing, etc.)
7. Amazon FBA (Enroll in Amazon FBA and sell products you source on Amazon)
8. Virtual assistance (VA’s can make a lot of money with one or multiple clients)
9. Social media manager (Make money running other people’s social media accounts.)
10. Content creator (this ebook shows you how to go full-time on TikTok without showing your face)
11. Create digital products (This includes ebooks, templates, etc.)
12. Become an online course instructor (Udemy and Skillshare are options)
13. Online teaching (through Outschool, etc.)
14. Virtual entertainer/babysitter (it’s online/virtual babysitting and you can make up to $20/hr)
15. E-commerce (I’ve used Shopify for my online stores)
16. Selling handmade (Etsy, Creative Market, and other marketplaces are great for this)
17. Website flipping (learn how to build and flip small starter websites)
18. Domain flipping (there are sellers earning a full-time income with this)
19. Flea market flipping (Fleamarketflipper is a resource to check out)

What’s stopping you?

Are you doing side hustle season this year?

3 Lazy Passive Income Ideas Anybody Can Do [up to $2,000/month]

Note: Affiliate links are in included in this article.