Three Tips For Finding A Second Income Stream

May 1, 2017

If you've ever wanted to diversify your income streams but weren't sure how or what to do, read this post! I give you three ideas for finding a second income stream!

 

If you have a goal of building your savings or being debt free then you’ve probably done the math with your current job and figured out how long it will take you to get there. You’ve probably realized it will take awhile, as most big goals do. I’ve been there too and no, it’s not the most inspiring thing to see. But, there are ways to speed the process up and reach your financial goals quicker!

The first one I will always say on this blog is obviously to start minimal spending, and I mean minimal spending. If you are new to the blog and interested in that I’d recommend my free 7-day course that introduces you to minimal spending. You can sign up for it here!

The second thing you can do is what today’s post is about: getting a second income stream.

I typically don’t just give the advice of “get another job” to someone struggling with money because almost always I think the answer is to first stop spending unnecessary money. However, for those that really have minimized their spending down already, I think having another source of income could benefit them even more than anyone else because that extra income is going straight towards their goals!

So today, as requested by a reader, I want to give you some tips for finding other income streams that work for you and your lifestyle.

Let’s do it!


Three Tips For Finding A Second Income Stream

1. Find puzzle piece schedules

The biggest struggle between finding more than one job is being able to actually have the schedule for two jobs. Many employers want open schedules and if you have two jobs that just can’t happen. Instead, try and find job schedules that work with each other. For instance maybe your normal job is only open during the day M-F. In that case look for a job where they only work on weekends or only open at night. If that is the case then you would technically have open availability for both because the times they are open are different. This is what I call a puzzle piece schedule.

It might seem impossible to find the perfect scheduled jobs but they are out there, they just are not usually your conventional jobs. For instance, my husband works for a photo booth company as one of our streams of income which is only really on weekends because that is when most events that they get hired for are. So he only does events on weekends or Friday nights which never interferes with his other job. This is just one example, but they are out there you just might not realize until you look or start asking around. Which brings me to my next tip..

2. Think outside the social norm box.

My husband and I would have never thought of working for a photo booth company but it has ended up being such a blessing and really cool job he enjoys. Sometimes the job that will work for you might not be posted to craigslist or any other job search website.

My best advice would be to start asking around! Not just if anyone is hiring, though that is always good to ask, but what people do for a living. I’ve talked to people multiple times and when I find out what they do for a living I constantly am finding new jobs that I didn’t know exist. I’m also constantly finding jobs that I didn’t realize were easy to get, had on the job training or ones you didn’t need a degree for.

There are a lot of jobs out there that you may not even realize exist or that you qualify for. Asking people what they do for a living helps you to broaden your horizons and in some instances can give you an in with that employer if you take an interest with their employee!

It was a friend of ours that worked for the photo booth company that had told us how great it was and so the next time they were hiring, Greg applied. If the friend hadn’t told us we never would of known of the job, much less applied for it.

Think outside the box for other sources of income and ask around for what other people do!

3. Work for yourself/Sell your talents

Another easy/not-always-so-easy income stream is working for yourself or selling something you do. This could be in the form of freelancing, selling things you make on Etsy, giving lessons, etc. My husband and I do this in a couple different ways. My husband teaches guitar lessons as one of our sources of income. In that way he is working for himself and able to make money from teaching someone what he already knows how to do, play guitar.

Working for yourself gives you freedom to set your price, decide your schedule, and most of the time you are doing something you actually enjoy! Think about a skill or talent you have that either people could hire you for, or you could teach others. Both ways give you more flexibility and a chance to have a good side income if you do it well!

I’m passionate about minimal spending and have found I’m good at teaching it, so I love being able to do that here on the blog and make a little side income with it too! Not only is it adding another income stream but it’s helping people out with teaching them something I have experience in. What is it that you have or know about that others could benefit from? Think outside the box and turn it into an income stream.

My last tip, which I’m not making a full point because it’s more just something to remember, is that having multiple incomes, no matter how small, helps! Every dollar counts! Between my husband and I we have five streams of income. One of those streams of income is this blog here, now right now it’s not making a huge amount of money but it does bring in money every month and therefore it is a stream of income and every stream counts.

Your financial goal is that body of water those streams go into and with every stream, even the small ones, that goal gets closer to being reached. So even if it seems small or like it’s not making a big difference don’t give up or loose hope. If you are working hard and taking the right steps, you are headed in the right direction and you’ll get there!

I hope this helped give you some ideas or encouragement to find some other ways to reach those financial goals! I wish you the best of luck and I’m cheering you on!

Lydia

4 thoughts on “Three Tips For Finding A Second Income Stream

  1. Britt

    A Photo Booth company? That sounds like so much fun. Thanks for the post, Lydia, you’ve got me thinking! :D

    Reply
  2. Sandy

    During an unemployment period, I worked at selling home decor,nights and weekends, insurance receptionist 3 days a week, and childcare two days a week. Exhausting but mortgage paid for 6 months till new job opened. Most needs for multiple income are temporary. Thankfully.

    Reply

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