Working Smarter – Multiple Streams of Writer Income
Posted by KristiDec 28
If you’re wondering how you can increase your income my advice is to work smarter. Not only should you work on creating active income that can sustain you now but you also need to create passive income that will sustain you now and later. For instance, let’s say that you have 3 clients that pay you at various times during the month.Although this is great, you should also start rebuilding your passive or residual income as well. In no time at all, you will have active and passive income streams. This way, you get income all month long. In addition, if any of your active income stream dies out or you are unable to fulfill your duties then you still receive residual or passive income. Doesn’t this sound great? It sure is. Here is an example of this plan in action:
- Client A pays you on the 1st of the month
- Bukisa pays you on the 5th
- Textbroker.com pays you on the 8th
- Today.com pays you on the 10th
- Clickbank pays you every Wednesday.
- Client B pays you on the 20th
- Client C pays you on the 28th.
As you can see, by working both active and passive income streams you have money coming in all month long.
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This is an excellent plan! I’ve been trying to do this (although halfheartedly) and what I really need to do is be more serious about it so that I can have money coming in if not every week then at least every other week.