28 Comments

  1. Daniel Lara

    Hey, Chuka! This is a great first advice for those seeking to build a financial empire (thinking big here!). It’s important to understand that you must be willing to invest in yourself and to make money circulate in order to be successful. What goes around comes around, and if you spread wealth you are bound to receive some of it back!

    • Chuka

      Hi Daniel, thank you for dropping by and for your comments. I’m delighted that we are in agreement and that investing in self and making money circulate are some of the essential ingredients that will make the creation of a financial empire possible. The small stepping stones lead to the giant rock, so to speak! Thank you again.

  2. Investing in yourself is definitely the best road you can go down if you are looking to create multiple streams of income. Money is energy, just like food, it comes and it goes.

    • Thank you Steve for your thoughts. It took me a while to understand that investing in myself by learning from others made the journey towards my goals less arduous. Two heads are always better than one.

  3. Hey Chukka, Nice post… I am really not good with money at all, I a however good with throwing money into things that i feel will be good investments down the line somewhere. One thing i really struggle with is putting money away and forgetting its there.. I dont do much of the whole yuppy life stuff but i do invest alot of my money into constantly learning new things. Lets hope one day i get some Pay Back

    • Hi Shannel, from what you say, you are investing. Investing in yourself and learning new things improves your skills and knowledge. Remember the saying, knowledge is power! When you know more, you give more and ultimately receive more. The payback is coming :-)! Thank you for sharing your thoughts.

  4. Alexey

    Hey there, it’s Alexey! As you said, these are the “basics” of creating multiple streams of income – There is a lot more to do in a more advanced stage, but that is definitely helpful when you only getting started. Great info, really nice article – Keep coming up with value 🙂

    • Thank you so much Alexey. You are so right, I am simply scratching the surface of creating multiple streams of income here. Books have been written on the subject already! I am sharing simple ideas and thoughts, most of which came from my failures and learning from those who have risen from the ashes of failure to reach great heights.

  5. Great post.
    For years I haven’t been paying much attention to my finances and funnily enough it was Bob Proctors book that made me wake up. Another great book is Dave Ramsey’s Total money make over. Very helpful advice.
    This is very useful info for us all, thanks for the help.

    • Hi Dan, thank you for dropping by and for your comments. I will look up Dave Ramsey’s book, I like to keep learning and it’s kind of you to share it.

  6. Hank

    Chuka, you’ve hit the nail on the head. Good foundational advice when you say we have to save and stop spending more than we bring in. We’ve learned not to put our eggs in one basket but we still need to know how to create other baskets. Thank you for your effort to educate.

    • Chuka

      Hey Hank, thank you for dropping by and for your comments. Money has such an incredibly powerful emotion behind it and the subject is as vast as are perspectives about it. I am offering my perspective with the hope that it resonates with some people and will keep suggesting different baskets to create multiple income streams. I appreciate your comments.

  7. Imad

    Hey, Chuka.

    Informative article. This is one of my favorite subjects on the make money online. Creating many streams of income is the greatest part of working online. You have the luxury of choosing your own schedule, have from 1 to 5 jobs or even more to count on and grow.

    Never put all of your eggs in one basket. I always keep this in mind whenever I’m venturing into an online opportunity.

    Thanks for sharing a valuable lesson.

    Regards,
    Imad

    • Chuka

      Thanks Imad for your comments. You are right, with the tremendous opportunities that exist online, there’s no excuse to have only one stream of income. That eggs in one basket scenario is so real for single source income.

  8. I love this idea especially for retirees so they don’t have to just rely on a pension. Creating multiple income streams helps to diversify income so you don’t rely on just one source. Well done. I really enjoyed your post. Thank you.
    ~Peter

    • Thank you Peter for your insight about retirees. It’s one area many of us overlook because it seems far into the future. Planning for it feels secondary if not tertiary sometimes.

  9. Pitin

    I have a love and hate relationship with money. Sometimes I am very good in earning and keeping my earnings but one day I can just spend them all in one shot. I am still working hard to learn how to make money work for me. Having self control should probably be my priority since I already know how to work hard and earn money but I dont have the discipline to keep the money long enough or make it circulate.

    • Chuka

      Hey Pitin, thank you for your comments. Money has a strange energy that either energizes or deflates. That’s why when someone is in the mood for a spending spree, they have more energy than a horse but after the spending is done, some feel deflated or even guilty.

      What I am attempting to highlight in creating multiple income streams basics is mainly how to make the money you are bringing in work for you, instead of making your hard earned money work for someone else’s multiple income streams strategy.

      When you are ready to make your money work hard for you, the right opportunities to invest will be spotted easily. Best wishes.

  10. Rowan

    Wow – Multiple Income Secrets – I really like the content. Real solid advice for anybody. Love the ‘Plastic Friend’ thing and so agree how much trouble its getting people into. I do reckon that the ratio of actual Cash:to credit offered in this world is about 1:50
    How can we ever payback

    Want to comment about the easy Layout which I am impressed with. This is a niche where Content has to be laid out to read quickly without been derailed by too much creativity
    Well done you have achieved that to perfection

    • Chuka

      Thank you Rowan for your kind comments and observations. I am so delighted that the layout is easy to navigate because sometimes, it is challenging getting the balance right.

      I like your analogy of the ‘plastic friend’ and the ratio of debt. Real money maze.

  11. Wow, nice work Chuka. Your the real deal when it comes to finances. I agree with keeping the money. It’s what we do with it when we get it where most issues lie. It gets hot in the pocket and we have to go buy stuff, lol.

    • Hi Robert,

      Money does indeed get hot in the pocket and begins to look for escape routes in the form of stuff we buy, which are not needed! Thank you for your comments. I appreciate your insight and feedback.

  12. Great article Chuka!

    I personally own a condo back home and I rent it out for positive monthly cashflow. I also have my own website and are venturing into starting my own business as well.

    I can’t wait for your next article related to this one. I love reading about these.

    • Hey Derek,

      So good to hear your story! Thank you for your comments and feedback. You have already established a passive income stream and are on your way creating multiple sources of income. Congratulations!

      In our consumerist society, many people do not think of creating a passive income stream. Every success in life starts with hard work and dedication and with good planning, working smarter replaces working too hard. I wish you continuing success in your endeavors Andrew.

  13. Jose

    I agree with your tips and techniques especially the one about investing your money and not just “saving it”. Money loses value over time so one must be constantly making it into more money and investing. I like the metaphor about planting the seed and watching it grow into a tree and just simply watering it later on, thats how money grows, it starts off hard but the bigger and better the foundation you build, the easier it is to keep multiplying your money later on.

    • Chuka

      Hey Jose,

      Thank you for your feedback and insights. I couldn’t agree with you more, making money is a slow and consistent process. The sad thing these days is that many people do not have the patience and staying power to work hard, persevere through good and bad times before harvest. I see so many get rich quick schemes or scams, which some people fall for thereby losing a lot of money.

      I wish you success in all that you do 🙂

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