Many people are feeling the impact of the living crisis right now, and we all know these are very challenging times for many.
We often seek ways to earn more income when we cannot reduce our expenses. We find our expenses have increased due to many factors. But the main reason is high inflation, which results in
- scarcity of supplies
- higher fuel and transportation costs
- higher debt interest rates, that lead to higher accommodation and mortgage costs
Plus, we often see job losses too
Not to mention the increasingly unfavourable weather patterns brought about by the slow beast known as "climate change," which has long-lasting effects on many of us and has the potential to destroy our homes, livelihoods, and even our crops that are grown for the consumer market, as demonstrated by the recent experience of Cyclone Gabrielle in February 2023.
Whatever has happened globally or in your region, we come back to our household bubble and see that our income frequently cannot keep up with all of these escalating living costs. It can be challenging, worrying, frustrating, and stressful if you want to take control of your finances but can’t seem to get on top of the issues at hand. So we started searching for ways to find more income, and you can jump right in now to see how I did it.
A Little About Me And My Country: New Zealand
I see it all around me, and no doubt you have found similar examples of rising food costs too. Mine recently was a box of breakfast cereal, which rose from $6.48 in 2021 to $12.48 two years later. I refuse to pay that kind of price, but when it comes to something that is a basic need, we find we have to suffer and pay the shelf price, or maybe the fuel price.
In my lifetime, this would be about the third time I have felt the pinch of high inflation and rising costs, with financial consequences. For some, this is their first time. I recall, as a child in the 1970s, having carless days. In the 80's, we endured a 5-year wage freeze when I first started work, and back then, we had extortionately high mortgage rates of 22.5% p.a.
Now the mortgage rates (in New Zealand) are around the 8% mark, but things are different now, and experts say that these times are worse than ever before. One of the reasons that has made life more difficult for some is the ready access to consumer debt. It is too easy to get into bad debt. The buy now, pay later concept Why do we talk ourselves into buying this great product, fancy appliance, or electronic device now? Why do we now live beyond our means? Our parents or grandparents saved up for it.
So what can you do to get out of this financial hot mess? It happened for us too when we were a young family going through a financially difficult period. My husband went to another country to work for nearly 2 years, and that had consequences in other areas of our lives, which we had not considered at the time.
So whatever you do, there is always a risk. It takes time and a conscious, methodical approach to get out of the debt cycle. Going round and round, debt mountain, as I call it...
So what are your options? Well, before I come up with some answers, let me share that my background is in Financial Services. I am a Financial Planner or Adviser, qualified in New Zealand, and I am part of the Trusted Adviser network, which is worldwide, so I do hold the global marks for a Certified Financial Professional (CFPcm) and more.
I do believe I have the authority to talk about the various subject matters here, and hopefully you see this too. I like to work with retirees and those of working age in their household management affairs, so I have first-hand experience and see what happens on a regular basis. Let me just say that the following applies in a general sense; I am not giving advice. I will also add that this is not one size fits all, as there will always be someone who is doing their life differently.
Oh, by the way, this article is not about how to get out of our debt. We can cover that another time …Instead, we are talking about ways to create more income.
Potential Ways In Generating Income
What I have found is that we all need to have an income from somewhere to support ourselves. That is the backbone of modern society, right? (With bated breath, I add that even the homeless need money to buy their basic needs?) So back to ways to create income—what are your options? Well, AI came up with this list.
- Get a part-time job.
- Start a side hustle
- Invest in stocks, bonds, or real estate
- Start your own business
- Write a book or create an online course
- Become a consultant
- Freelance your skills
- Invest in yourself and learn new skills
- Network with people who can help you earn more money
- Be open to new opportunities
- Don't give up!
Well, that’s a pretty good lineup. But what I have done is boldly blue-typed everything on that list that can be covered off in a FREE video series for you to find out more. Yes, that's right—it costs you nothing other than your time to find out more over the coming days on how you can start generating income online, create money online, or start an additional income stream. And... did I say that the income can flow 24/7?? yes even when you are asleep.
This could be a really exciting time for you as you start thinking about what you can do to make that new, additional, or replacement income stream happen for you. What are your passions? Have you thought about how you could monetize them? This video series gives you tips on how you can pursue creating an online business. Your customer can be potentially anywhere globally so that is why your income is not derived from the time you spend (at work for a boss) but rather from what you create that they want to purchase from you?
However, perhaps you are thinking Yeah-nah (that's Kiwi slang) sounds difficult; it sounds like—what's the catch?—It's not for me. How much money will this eventually cost me? I truly want to do it for free and make money easily. I don't have the time to watch videos. It sounds like a scam or MLM. I’m sure you can come up with lots of objections and negative self-talk without me adding more here. So let's look at the list above and we shall pick them off one by one
Pros and Cons of the Various Income or Money Making Ideas that AI came up with
Create yourself an income idea |
Pros |
Cons |
| Get a part-time job | Easily fit round the family and do night shift or weekend work just a few hours/week
The social aspect of meeting new work colleagues Often, the work doesn’t take much brain power to do, so it's easy to manage Money rolls in week following Easy and consistent income |
Might get taxed more
trading time for dollars menial works doesn’t pay much Away from family Not spending time doing what I want to do It might cost more to do this 2nd job, as in losing added social welfare benefits, travel or fuel will cost more so net income for time away is not worth the effort |
| Start a side hustle | Easy to balance around family or work
You are in control Can be financially rewarding Enjoyable doing something you love |
Not an immediate quick fix
Set-up costs learning business skills takes time, patience and perseverance and have to be self-motivated |
| Invest in stocks and bonds, and shall we include crypto (buy and hold or trading)? | Set and forget
Can drip feed in money to make more money over time. Can be DIY or give control to experts to do stock or bond selection Time in the market is your friend Can be accessible and liquid if you choose the right style of investment vehicle If you want to do trading, then it is super speculative, and in short time frames, that is where one makes money |
You have to be prepared to accept market movement and have negative returns in some years
Drawing out money when markets are down is often what happens for either a use-of-money need or fear-based behaviour This should have been put in place years ago, before the current living crisis, as long-term objectives usually applies Trading can be addictive, as you have to be super focused unless you are using bots But it is perceived as a speculative risk, and money can be lost quickly. Research & knowledge is required Not for the novice |
| Invest in real estate—real property (excluded listed or unlisted funds) | Can be a consistent income stream & capital growth when eventually sold
It is best to have more than one to build up asset base and income stream It is great if mortgage is nearing the end of term and done 10–20 years ago to be nearly freehold |
I should have done it 10–20 years ago, to be nearly freehold
Tenancy dilemmas Property manager costs if hands-off approach taken, tax-deductible and non-deductible costs brightline or capital gains tax may apply Little or no spare income yield if mortgage debt |
| Start your own business | Similar to side hustles, both are businesses, potentially online and flexibility is possible | Location, consumer demand , tax to set aside, brick-and-mortar store or online, set-up costs, finance, etc |
| Write a book or create an online course | Can earn good income streams eventually
Monetizing your expertise Working smarter is possible. Self-publishing keeps costs down |
Publishing upfront costs & doesn't always lead to immediate sales
Finding good ghost writer or illustrators important Keywords and SEO is important to get your book seen in online bookstores (Amazon Kindle) |
| Become a Consultant | Can earn good income streams eventually
Monetizing your expertise Working smarter is possible. Self-publishing keeps costs down A coaching program can be created once and easily repeated Contract work, choose your own hours, and work smart, not hard. Can be an online expert |
Targeting audience repetitively for coaching program & upskilling on digital platforms, and set-up costs for both |
| Freelance your skills | Similar to consulting. Can be online and has the potential to earn uncapped income | Same as consulting. You need to upskill and spend time and money on how to launch |
| Invest in yourself and learn new skills | Potentially, you can earn money once you get to the ‘ doing’ stage
There are lots of opportunities to earn Uncapped income and often a community to help you as well Multiple income streams are possible Potential time and money freedom to do what you want when you want Flexibility around family or lifestyle |
Giving up too soon
Having spent too many hours studying and not enough doing You cannot earn money by just studying You may spend more than what comes in If you choose to work on your own and not tap into the community, then you could find it difficult to move forward Fighting overwhelm and other frustrations in the learning process You need to establish a routine to make it a habit |
| Network with people to help you earn more money | Essentially, it sounds like network or multi-level marketing, where others in your upline will benefit from your input
Often, low set-up costs Work your own hours. Flexible around family or lifestyle |
End up being your own best customer
You may sever your close relationships? Not able to make money fast enough and canno |
So this list by no means captures everything, but at least it gives you a general sense of the various options, with the benefits and pitfalls of each.
Besides the traditional way of earning an income by trading time for money, as in the time you spend at work on an hourly rate, most of the others mentioned above can potentially be moved to the online world, and then you can monetize them.
Work smarter not harder is what I say!
And if you choose to fully jump in and embrace this opportunity, then the teachings should empower you to bring that aspiring entrepreneur mindset into play. The program will help you find your passion, as that is the essence of your willingness to commit to this. Together with the support of the community and the self-paced learning programs, you too can potentially build a successful online income stream or business 24/7 and hopefully create a better life for yourself. The online learning in itself is opening up your mind to new ways to doing things differently. Isn't it true that having a growth mindset opens up the neural pathways to positive aging; and this experience once profitable, should make your conventional job entirely optional, and give you the time freedom to be doing what you would much rather be doing.
Disclaimer: not everyone makes money immediately so I'm not saying you will. And remember you know you, I don't know you.. But you can leverage off others to help you in this community and it is possible to make income happen at some point in time.
You know that nothing will change for you unless you change yourself and make the decision to listen, watch, and then learn how to earn.
The online business opportunity is immense. There are various business models to think of. Search words like affiliate marketing, best affiliate programmes, high-ticket affiliate marketing, digital marketing, online business, passive income opportunities, e-commerce, or what is e-commerce?
What's the catch, you may say? Well, I’m telling you honestly. There is no catch—it's all up to you!
Yes, there is no cost to you in finding out more from our free video series. As that is a little taster for you, you can go away and say to yourself, This is not for you. Or you can do what I did, leap in and learn how to earn. What's that you say?
The Swimming Analogy
Well, let's use the analogy of swimming. Yes, that's right—swimming in a pool that has multiple lanes—and, oh, there are lifeguards you can see, and they are always observing from the sidelines. There is even a swimming instructor to help you individually if you need that. Anyone of these people you can call out to and ask for help. We have a paddling pool there, just in case you wish to dabble first, so you can find out what this swimming thing is all about. After all, this is your first time, as you have never seen an enclosed indoor swimming facility before. The paddling pool is knee-deep but also has an area that is waist-deep. You might be happy enough with just playing around in this area for a bit, and you have a low entry fee to come to this area.
But you might be like me and love the idea of diving in the deep end of the main big swimming pool, but you have to pay more to enter this area. In this area, you have the swimming lanes to help you stay in your lane, and there are more lifeguards or coaches assisting you from the sidelines as you learn how to float, swim, and how to do the different strokes to swim the lengths.You can choose to stay in the first lane, but then you might choose to swim up one lane and down another. It's totally up to you.
It shouldn’t be considered a big outlay if you are just in the paddling pool, and you do get to find out a little or enough to see what the potential is on how to earn an automated income, even when you sleep or 24/7 from anywhere in the world
And if this indeed whets your appetite and you are so curious to find out even more, then you can commit to it and wholeheartedly learn more at your own pace. Some people have found that their own expertise is enough, plus a little extra support may be required, and this can guide them to what they want to do, so they can launch their own business real quick. But some, like me, need the training wheels on for longer and have the ability to lean into the online coaches.
So as you can see, there are various tiers according to budget to fit your needs, whatever they are. and the community meets you wherever you are and what you need to make it all happen. Prepare, Launch, and Grow is the overarching format of this amazing program, and I am bringing this opportunity to you if you are ready and willing.
PS: you have to be willing to invest in yourself, and learn how to earn for this to work, to supply you with a flow of money from online income streams.
Risks. What are they?
Ok, let's talk about risks, as that is a fundamental thing in everyone's life for every decision we make, and some are so unconscious you don’t even realise it is a risk. As a Financial Adviser, I have to talk about risk every day. So let's think about some on an everyday basis. Mostly with these, you never even think about them!
- What risk is there for you to know you still have your job tomorrow and that your boss is not going to close the doors for some unknown issue not shared with you?
- What if both you and your partner work at the same factory or business? Is there not a risk of you both losing your job at the same time? I have seen this with factory closures; it happens.
- What are the risks so that your kids all grow up happy and on track and never go off the rails?
- What about your travel to and from work? Is there a risk of an accident along the way?
- What about buying an existing business and outlaying money, only to find the seller has cooked the books?
- What about buying a property or an investment property and the risks involved, including tenant selection and not trashing the place?
- What about you investing your money in the markets and the risks of choosing the wrong shares, stocks, or asset class, and they underperform your expectations of the company you invest in going bust?
- What about the risk of death, disablement, ill health, or outliving your money?
As you can see, there are risks everywhere, and yet we face them head-on, unconsciously, not even aware of them.
So what are the risks with this online learning opportunity? With the goal in mind to grow your income by starting your own online business, be it an e-commerce store, consultancy, coaching, affiliate marketing, or with multiple income streams, I see for you—it could be any one of the following:
- The risk of borrowing money to get started and spending more than you may actually earn
- The risk of not starting is a big one.
- The risk of FOMO missing out on lost opportunity as it passes you by
- The risk of you giving up when you talk yourself out of continuing—saying this failed when you just didn't commit
- The risk of working by yourself and thinking you don’t need anyone to help support you
- Another risk is that you love to learn but stay in the learning treadmill and never jump out to do the actual work to launch your business
Let me just say you need to have a curious mindset. You need to be open-minded, know there is something more out there for you, and not accept any negative self-talk.
One of your first goals should be to learn enough to launch your own business idea, or maybe do affiliate marketing and master that first. This might only be a stepping stone to your next big idea, as you may have many more in incubation. But at least we give you the groundwork and skills to start your first business. From there, you build from that as you add more building blocks and learn from your mistakes.
This is totally doable, and it is not a running race. You can do this! and go at your own pace, and you will get there and enjoy the ride along the way. Want to find out more? Then click below and sign up for the first lot of freebie videos. I did this, and so can you. I am here to support you and be your guide, along with our online community.