The average millionaire has 7 streams of income. Isn’t that interesting?
I find it enthralling for these 2 reasons:
- Why were we taught to go to school and prepare ourselves for ONE full-time job rather than expanding our work reach?
- How do millionaires handle 7 different streams of income? How do they have time to manage it?
It’s fascinating because we are led to believe that one 9-5 job will solve all of our financial problems and be enough to live on. While this is partially true, unfortunately, the reality of the wage which we are paid is not enough to support the lifestyle many of us had hoped for. Nowadays, there are so many people working two jobs or owning several side-hustles to create the financial lifestyle they have always dreamed about. It’s incredible to see so many turn their hobbies and their passions into money-making machines!
The purpose of this post is to highlight the different income opportunities, not to flaunt or bring anyone down for not having a side hustle.
Here is a breakdown of my 4 income streams that help me create the lifestyle I want.
My Full-Time Job
For the longest time, I didn’t believe a 9-5 life was for me. I still feel this way somedays, but I love my full-time job. It took a lot of effort and strategy on my end to land the job. My title is Communications Marketing Specialist. However, my position has turned into Content Marketing Specialist. I work at an insurance company and would have never in a million years thought that it would be something I enjoy. It brings a lot of happiness into my life.
A day at my full-time job looks a little like this:
- Content Creation: I write blogs for 4 different types insurance realms (adventure sports, vacation rentals, bed & breakfasts and property & casualty retail business).
- Social Media Management: I manage 4 different social accounts across 4 different platforms.
- Website Development and Maintenance
This income stream is my bread & butter and is the most consistent work.
Partnering with brands is my favorite parts of blogging. I love being able to create a connection with a brand that I’m passionate about.
Though I don’t-do-what-I-do for the money, it is a perk of the job. Not to mention, it is a nice reward for the hard work that is involved in the process. Influencers are some of the most underrated, hardworking people out there. Between cultivating a relationship with the brand, planning a shoot, executing the shoot, editing, posting and engaging with the audience online—it’s no wonder why many influencers are paid top dollar.
I will say, no matter how cheesy this sounds, I am extremely picky with who I work with. Due to my selectiveness, this is not a major income stream for me. It’s not a consistent money-maker and my collaborations are not always money based.
If you are interested in gaining more collaborations, I encourage you to reach out to brands, apply for ambassadorships and connect with influencer agencies.
Last winter I was selected for a part-time photography/videography job with Vail-owned Snow Creek. I have always loved snowboarding and taking photos. When I was asked to shoot, I couldn’t say no. It’s really refreshing to work on something that isn’t for your own brand. I’m not huge into “being an influencer” as much as I am being behind the scenes and capturing/creating content.
Photography and videography are also not the only two ways to create content. Companies will hire out creatives for copywriting, blogging, web-design and social media content creation.
Be aware, taking on a content creation job can be difficult and extremely time consuming. If you know you can’t take on that amount of work … don’t. It’s not worth it to the company nor trying to stretch yourself beyond your limits.
I’ve never considered myself a model and still really do not. However over the past year and a half, I have had more modeling gigs than ever before. I thought my modeling days were left in the past when my mom needed Sutton and I to be in photos for her work haha!
I am really lucky in the sense that I do not work with an agent and I am not under a contract. I am able to pick who I work with and how often I work. It’s hard to turn down anything that boosts your confidence and makes you a little extra cash for shopping.
One of my biggest goals this year is to have at least one stream of passive income. According to Investopedia, “Passive income has been a relatively loosely used term in recent years. Colloquially, it’s been used to define money being earned regularly with little or no effort on the part of the person receiving it.”
Passive income doesn’t just mean renting out a property; it can be simply publishing your articles on a website like medium.com. I hope to do this more with my writings in the future. I’ve tried a few but they seem to get lost in the shuffle, so I need to research a bit more before trying again.
If you are a person who has a lot of hobbies and wants to get paid for them – here’s your sign. Having extra funds for when life throws you a curveball or making a little extra cash for those splurges, keeps your saving growing. You aren’t having to dabble in it. Your side hustles are funding the fun or the unexpected. Keep Grindin’ Gals! I believe in you!
Until then, Spread Kindness!