make money online Top Travel Money Making Tips: Building Multiple Income Streams

Saturday, 20 September 2008

Building Multiple Income Streams

Hi guys, How is the money making going?

As I have said before, it can be very hard to maintain a regular income while you are in the process of frequent travel or even, if you stay for slightly longer periods of time before moving on again. It is a constant strain on your bank balance as you are consistently forking out for costs that, if you were to stay put would not crop up. These might be direct expenses relating to travel, like airfare, taxes and freight costs. They could also be more indirect costs, like having to purchase new everyday household items (knives, frying pans, kettles).

Now, it is almost impossible not to collect some clutter if you stay anywhere for more than a couple of months. So, if you are a 'stick and move' traveller. Here are some tips to prevent wastage.

First up, when you rent new accommodation, try and have it as fully furnished as possible. Make a note of all the kitchen and household items included, or rather, anything that is missing. Mention any missing items you would like to be included to the agent or landlord before you sign anything and make them a condition of the contract. Some keen landlords may even include cleaning products and washing powder.

Next, before you buy stuff, consider whether you really need it or if you could borrow it from another source. Also try not to get too attached to any items or keep sakes, that are bigger than pocket sized. For things like shoes, find a favourite multi-purpose pair and try to keep them to a minimum (sorry ladies).
The same goes for clothes. The reality is, lots of the clothes you collect often don't get worn. If you are moving onto a warmer climate you won't need that knee length coat and coats a killer for excess baggage and awkward packing. So If you do buy it be prepared to part with it, or make plans in advance. Sell it, donate to charity or give it to a friend. If there is a possibility that you will be coming back in the foreseeable future, store it with relatives or friends in the hope of one day being reunited. However, I still believe the best option is to not make unnecessary purchases and not get attached in any way to material possessions while on the road.

Having said all this, if you are able to increase your income and number of income streams. These can bare the brunt of these extra travelling expenses. At the very least, having multiple passive income streams will help to alleviate the burden and anxiety associated with not having a regular 9 to 5 income.

This is a mantra that I have and will persistently repeat, because I believe it to be the basis for freedom. I mean freedom in more than just a financial sense. I mean, the freedom to let your feet stay itchy. I mean the freedom over your personal life and not being owned by any one person (or corporation).

So as I have said many times before, use your talents and natural abilities to turn your hobbies into professions. I 'm sure you've heard the saying, that the day you find a job you love, you stop working.
Definitely take advantage of the World Wide Web. The sooner you do this, the sooner you will start to reap the rewards. Be it through networking, advertising or building multiple passive income streams.

Finally, if you are going to spend your money, make it worthwhile. Spend it on your education and self-improvement. If you've always wanted to learn to play golf, don't go through your life saying something like, 'I've always wanted to learn, but lessons are so damn expensive'.
I believe this attitude is just a cop out. It is a fear of failure mentality. If you want to take golf lessons, do a weekend taster course before you book the club pro. If you love it and it feels natural, maybe you should book the club pro.

The point is, if you really want to do something, don't let lack of money be your excuse. You will find a way to get the money. If you are focused on that one thing and think positively, opportunities will present themselves and you will find it easier to attain the means for attaining your goals. Once again repeating myself, sacrifice something else in your life or make more income. It's that simple. Don't blame situations for not doing or even trying something. It's okay to give up too. If you try something and you don't like it, try something else.

It's your life.

That's all for today

Park Namsu.

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