Tuesday, 30 September 2008

Multiple Income Streams

Credit Crunch Survival Tip


One of the best ways of surviving an economic down turn seems to be have multiple streams of income. As the saying goes, don't keep all your eggs in one basket.

I'm lucky in the sense that I have a few skills which I can turn to for income, and while my main skills are in the computer industry, I also have hobbies in Video and Photography, plus driving skills which I can also call upon to generate income that helps with surviving the credit crunch.

Just as debt crips on you little by little and 50 cents here, one dollar there all adds up, so that extra 50 dollars a month can make a difference during this credit crunching time we are going through.

No one know how long this credit crunch time or economic downturn is going to last, and while a lot of people will be wondering how they will survive, there are people out there who are looking for ways to actually capitalise on the situation, and make some serious money.

What other streams of income do you think are available to you to enable you to survive the credit crunch?

2 comments:

stubsy said...

Your definetly right, multiple streams of income are not just good for the credit crunch but for financial security in general.

Credit Crunch Investor said...

Plus, of course, you need to protect and (where possible) grow whatever capital you may have.