“Don’t put all your eggs in one basket” is a highly-regarded time-tested financial concept. The idea is to spread the risk around and to not be dependent on any one source of income. It was good advice for our grandparents a hundred years ago, it’s good advice for us today.So how does this apply to us now? It means that we should “diversify our portfolios” and develop multiple streams of income. This concept is developed rather well in the teachings of the “5 Bucks a Day” program. Every week, look for an income stream that has the potential to give you $5 a day in income.In and of itself $5 is not much. But if you keep on adding income streams of $5 a day at the rate of 1 per week, at the end of a year 52 weeks times $5 per day equals $260 per day. It adds up. At the end of the second year your income hits $520 per day.Of course, these things don’t develop in straight lines. Some ideas work better than others; the income could be more or less, but the principles remain the same.An example of an income stream that could easily produce… Read full this story
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