Frugal Friday: Diversifying Your Income

This is my life now. It's a little nuts, but that's ok.

This is my life now. It’s a little nuts, but that’s ok.

How fancy does “diversifying your income” sound? Super fancy, huh? Like I should be looking at you from over my Wall Street Journal while sipping tea on my veranda?! Yeah, super fancy.

A lot of times people talk about stocks and bonds and diversifying your portfolio, but diversifying your income doesn’t have to be fancy. (Although we all should have some investments.) This semester I took on a teaching gig where twice a week I teach students about “how to succeed in college.” It has been a lot of work, but rewarding mentally and emotionally. It also helps that I get paid extra to do it!

There’s all kinds of ways to diversify your income from taking surveys, to babysitting to cleaning. I know we all have full plates but sometimes taking on those extra streams of income will get us to our financial goals much faster.

How do you diversify your income? Let me know in the comments!

love (and happy Friday!),
melanie

9 thoughts on “Frugal Friday: Diversifying Your Income

  1. Kim S in VA

    Hi! So, I’m delurking after just finding your blog a few months ago. My boyfriend and I have found several ways to add extra income besides our full-time jobs. We run a second business reselling new and used items we’ve found at yard/garage sales, flea markets, thrift stores, etc. on Amazon, as well as Ebay. We also had a table at a local flea market, but it wasn’t profitable enough, so that’s been tabled for now. I also sell furniture and other household items to college kids. In my spare time, I take Pinecone surveys and do Swagbucks! My boyfriend occasionally takes on clients who are in need of computer assistance or want websites built, as that is his primary field of expertise. It’s a lot, but for the most part it is enjoyable. We’re always looking for any extra ways to make money because it seems Murphy has it in for us…le sigh!

    Anyway, thanks for writing your blog. I really enjoy reading it! 🙂

    1. melanie Post author

      I hope so! I’ve been incorporating memes into my powerpoint presentations to be more relevant, but I don’t think they are as amused as I am!

  2. KM

    I think this is super smart, even if you have a traditional full-time job. I used to freelance full-time and made the mistake of putting all my eggs in one basket when I took on a client that kept me very, very busy. When their money ran out, so did mine! I was also laid off last year from a full-time staff writer position and I was definitely wishing I’d kept up some of my side gigs. Multiple streams of income are always a good idea and they usually allow you to pursue something you love, even if on a smaller scale.

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