The Quarantine Times 9 – The Importance of Having Multiple Streams of Income and Where To Start

Dabbl

During these times of uncertainty, there are so many people who have either loss their job or still at risk of potentially losing their job. What happens if this is the case? Do we hope the government is going to provide us with a couple grand to keep us happy? Does this really help? One of the most fundamental principles of finances is to diversify. Diversifying allows you to mitigate risk. You often hear about this rule of thumb when you listen to someone talking about a healthy stock portfolio. However, diversification can and should also be applied to income in general. Most people have one stream of income. Their day job is the only thing that is putting food on their table and keeping the lights on. In a quarantine like this, it shows us that even having a steady paying job puts you at risk. Since this quarantine…

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