Protect Your Lifestyle
Thursday, December 4th, 2008
“Will the Loss of Consumer Credit Serve as the Next Economic Aftershock to Further Fuel the Financial Crisis?
[This is the newest installment in an ongoing news series that looks at the anticipated “aftershocks” of the global financial crisis, and the profit plays those events can trigger.]
U.S. consumers are already losing their jobs at an accelerating rate.
The same thing is now set to happen to their credit lines.
But with so many Americans already losing their main source of income – their jobs – at an ever-spiraling rate, will an economy that derives two-thirds of its power from consumer spending end up mired in its worst funk in decades because those same consumers are now losing their charge accounts?” Read more…
By Jason Simpkins
And William Patalon III
Money Morning Editors
How to Protect Your Lifestyle
It is a real shame, but failing to plan can be a disaster just waiting to happen. Having a second income source is not just a good idea - it’s essential, just like having insurance. In the new world people are going to realize that “the job” really does mean…”JUST OVER BROKE”.
The nature of work has certainly changed. Companies doing the employing come and go. Look at General Motors. The bigger they are the more likely they are to make serious mistakes and take the workers down with them.
This blog is about protecting your income by finding as many other ways as possible to not depend on it. Instead of being in one job, thinking along the lines of having a portfolio of income sources ends up being the only way to protect your lifestyle. The theory being that if one source of income dies there will be others to take over.
Is this easy? NO! But as you can see there really isn’t a choice. If you don’t save and you don’t invest in your future then you don’t really have one!
The following is one way you can stop yourself from becoming a statistic.
Is it guaranteed? NO!
Is your job??
It’s a case of doing something instead of waiting for the worst to hit you when you are not prepared.
How to Create That New Source of Income
Here are some ideas
Firstly, are you employed in a recession proof industry? Education and health are good examples. In the case you are not then your job might be one of the next to go - think about re-training or developing new skills.
Are you in debt? Get help! You can’t do a lot if you are buried in debt.
1. It May Seem Strange But Get Your Money Working
Don’t throw it in the stock market…that is far too risky!
If debt is not an issue then look at starting your home business. You may have a service you can provide or specialized knowledge you can package and sell. Join up here to get a free course to help you create a product you can sell in 24 hours or less.
The information business is a great area to start your business and using your current knowledge can be a quick way to create a product. Dan Kennedy is the king of information marketing and getting his home study course, “Info Riches”, helped one couple go from $300 to $117 Million!
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INFO RICHES Seminar available for everyone to
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sharing this with everyone too!”
- Ewen Chia
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“My Dad’s been telling me how great Dan
Kennedy is for years, but I didn’t understand
until I came to your seminar. I got 30 GREAT
IDEAS and 3 powerful insights to apply to my
business within the first two days! Thanks!”
- Dawn Gray, San Jose, CA
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If you don’t feel confident that you can do it yourself or want someone to do it for you…there is a “WE DO IT FOR YOU” service, offered by Jeff Johnson, that will help you get started and will create websites, help you create a product or service and help you create some money online.
It’s called the Underground Training Lab. It is Jeff Johnson’s private coaching club and offers a DIY level of service as well at a cheaper price.
So you have a choice. You can outsource everything and have Jeff’s team working to make you money while you are at the day job. Jeff will have a pretty good idea of what sort of business to start online.
You can hear Jeff interviewing one of his clients as he tells his story…“From Zero to 70k in 7 days”
2. If You Have Disposable Cash You Won’t Miss
Have you ever considered getting a robot to make you money? Check it out!
Free Promotion…Only for members…Free Promotion for Your Home Business
Tags: extra income, how to make more money, jobs, work from home business