Having a stream of income means that you have a way in which money flows to you. So many people only rely on one single stream of income – from their full-time job. However, many are missing out on having money flow to them in different ways.
In this blog post, you’ll learn how many different income streams the Bible says we should have and why. You’ll also learn different ways to incorporate more income streams into your life.
The Bible Says We Should Have 8 Different Streams of Income
Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.
– ECCLESIASTES 11:2 (NIV)
The Bible is very clear on how many income streams we should have. It tells us this for several reasons:
- You have to be prepared for surprises in life
- Some of our plans may not succeed
- Results are not certain
- Safety and security are important
Let’s go over each:
You have to be prepared for surprises in life.
You never know what life will bring your way. Many of us would never have predicted the pandemic that’s currently going on. We can’t predict when things will go wrong; when we’ll have to pay for repairs and surprise bills, among other things.
God wants us to always be prepared for the unexpected. He doesn’t want us to experience unnecessary strife. Instead, He wants us to have a safety net that will support us through whatever gets thrown our way.
Some of our plans may not succeed.
If we hastily create plans and do not commit them to God, those endeavors are likely to fail. That’s why it’s crucial to always seek guidance throughout every step towards creating any business.
Our failure to carefully plan things can create unforeseen circumstances.
People rarely go into a new idea/project expecting it to fail.
We never know what could get taken away from us at any point. For instance, what would you do if Instagram suddenly disappeared? How would you handle yourself? Would you business survive? What about Facebook?
Or, you never know what could happen that would alienate potential customers. We’re given free will, and some abuse it without thinking about the consequences of their actions. What if you put your foot in your mouth and turned off lots of potential clients?
Results are not certain.
Sometimes when we make goals from fear and lack instead of passion and purpose, the results usually aren’t enough to satisfy us. Other times, we create business ideas from earthly intentions, instead of godly ones. If you aren’t including God in your plans, you can expect your results to be uncertain.
Too many people get complacent with success in the beginning of new projects, and adjust their lifestyles to be in accordance with that. But it’s usually premature.
How many times have you heard of MLM employees who got great bonus checks and spent them all, assuming that was the cash flow they’d always receive?
Never assume the amount you’re bringing in will be constant, forever.
Safety & security are important.
At the most basic level of human needs, food and shelter are at the foundation. When our most basic needs are jeopardized, that creates anxiety and stress. When you’re under constant stress, that creates health problems, and other problems that impact other areas of your life.
It’s impossible to be emotionally secure when you are not physically secure.
Here are some ways to create more income streams:
Side Hustles
There are an increasing number of milennials and Gen Zers who have at least one side hustle. In fact, nearly 45% of Americans* considered starting a side hustle during the last two years, but that doesn’t mean they actually followed through with starting one.
50% of all Millenials (aged 24 to 40) have a side hustle, and 46% of all Gen Zers (18 to 23) also have a side hustle.*
You can have multiple side hustles for different passions and projects. Examples of side hustle money-making activities can include:
- Writing/Blogging & running ads
- Running an Etsy shop selling handmade goods
- Running an online print-on-demand store using something like Spring
- Selling items on marketplaces like Mercari or PoshMark
- Selling printables on marketplaces like Etsy
- Running group coaching programs
- Selling online courses
- Hosting a podcast with ads/sponsorships
- Getting commissions from sharing outfits
All of the above can be started for very minimal startup costs.
Investments
Investing in the stock market can be intimidating, but it doesn’t need to be. When you buy stock, you’re buying a piece of a company. When that company performs well, the stock price goes up, and you can sell it for a profit.
Cryptocurrencies are also investments you may want to consider. Just know that the crypto market is extremely volatile. Plus, with anyone being able to launch their own coin at any moment, it’s hard to know who to trust.
You can get started on a platform like https://us.etrade.com.
I pray this serves you and inspires you to incorporate more income streams into your life!
Cheering you on towards success,
