The #1 Mistake Keeping you Stuck, Stressed, and Overwhelmed

Affiliate Disclaimer

This post may contain affiliate links. If you click on these links and make a purchase, I may earn a small commission at no additional cost to you. I only recommend products and services that I believe will add value to my readers. Thank you for your support!

Isn’t it funny how music can really put things into perspective for you? As I sit here writing this post, I am listening to a Spotify playlist that contains every popular song you could possibly think of from the years 2003-2007.

Those are the years I went to high school, so there is something about turning that playlist on when I need some motivation that just really gets me hyped.

Music also has a way of speaking to me in the ways of memories. When a certain song that was popular during a certain time in my life plays, it makes me think about what I was going through in my life during that time.

Every time a song from 2007 plays, it reminds me of the great transition from childhood to adulthood. When you turn 18, you feel an enormous amount of pressure to figure out exactly what you want to do. Well, I don’t know about you, but when I was 18, all I wanted to do was hang out with my friends without the restriction of curfew.

I also knew I wanted to find a good job that would take me far in life. At least, that’s what I thought I wanted. That’s what I was TOLD I should want, afterall. I was told that if you find a good job that pays well and takes care of you, you could go far in life.

Do you remember what happened in 2008? The damn recession. That was my welcome to adulthood! But, now that I’m older, I realize now that the recession was a learning lesson. What was the lesson? One stream of income isn’t enough.

Of course, not enough people have talked about that, and that’s a huge part of the problem. What a lot of people don’t realize is that during the recession, rich people were just fine. They were the ones taking advantage of everything crashing. That was because they were able to afford it from their multiple streams of income.

Even if you earn 6-figures, what happens if you lose it? You need to have other sources of income in place to be ready for those rainy days, or historical events that we can’t control, like job loss or economic collapse.

So, what is the first step to adding another source of income?

Investing.

No, investing is not just for rich people. Investing is what creates rich people. Depending on what you’re investing in and depending on your ROI (return on investment), you could have a pretty lucrative cash flow from simple investments.

If you’re a total beginner to investing, I suggest starting with a high yield savings account that builds compound interest on your deposits and your overall balance, building more cash value over time.

Another option is a simple investing app like Acorns. I love how simple this app makes the process for investing beginners. Basically, whenever you make a debit purchase, the app will round all of your purchase amounts to the nearest dollar, putting the remaining amount in your investment account.

You also get to choose your weekly contribution to the account and as your amount begins to grow, Acorns will begin sending recommendations for stock investments which could yield you some excellent dividend payments.

Real Estate is another great option for investing that provides some awesome opportunities for beginners such as Real Estate Investment Trusts (REITs).

REITs are companies that buy, operate, or finance properties that generate income. They can be a way to diversify your investments and earn income from real estate without having to buy individual properties.

I know those HGTV shows can make house flipping look a lot simpler than it actually is, so don’t go rushing into that business until you have AT LEAST owned your own property. The best way to learn about house flipping is to go through the home buying process yourself, learn about everything that matters, what costs what, the bank process, closing, all of it. When I owned my first home with my first husband, we learned a lot about what is needed to keep a house standing and stable. We also learned a lot about how much money goes into fixing problems that were missed during inspection.

Anywho…

Having that firsthand experience makes it easier for you to put yourself in a buyer’s shoes when you are preparing a house for sale.

Another way to invest and save for the future, is from an Indexed Universal Life Insurance policy. I realize some people don’t realize you can build an investment account with life insurance. I certainly didn’t know that until I became licensed to sell life insurance a year and a half ago.

With an IUL, you can build an account that is separate from the death benefit payout amount. This account builds up cash value based on market performance of the S&P 500. You can take loans from this account, or eventually use it for other investment opportunities, like large stocks or annuities. You could also use it as a source of income replacement for retirement.

It’s always best to get life insurance as young as possible, because then you can lock in a low rate for a long period of time, even as your life evolves. Having a policy like this is the best option not just for yourself, but any family, homes, business, etc that may come along in the future.

Ok, so we’ve talked a lot about the different investment options out there for people just getting started on their journey. Now, let’s talk about the other option for passive income…

Digital Marketing

I will praise digital marketing for years to come. It was the best thing to be invented, particularly for women. It’s no secret that a lot of us are forced to be the ones to sacrifice our careers when we have kids. That leaves a lot of us in the vulnerable position of having to depend on our partners for financial support.

Unfortunately, for a lot of women, that could end up being a death sentence. I don’t mean to be grim, but the fact of the matter is there are two very unhappy groups of people in America. Lonely men and married women.

This isn’t a post to say that men shouldn’t ever be trusted, but it is very important, and responsible, for a lady to protect herself. Digital marketing offers that option for women to have their own source of income. This way, they can help their partner with the financial burden, without having to pay for childcare or lose any time with the kids because she can do it all from home.

Digital marketing offers so many options. Blogging, affiliate marketing, social media, YouTube, etc. You could write blog posts, make videos, or create fun graphics in Canva to promote your products/services.

If you need a little inspiration as to what kind of products you can create, I highly suggest you check out my list of 180 Digital Product Ideas. With 10 ideas for 18 different niche categories, you’re bound to find something that would be perfect for you to put out into the world.

For me, digital marketing has meant absolute freedom to be able to live life the way I want to. It’s amazing how much more motivated you feel to get up and leave the house when you’re not being blocked by bad financial situations. Money may not solve all of your problems, but it definitely helps ease a lot of stress.

It’s definitely more favorable to be married to someone because you want to be, not because you have to be. In a way, digital marketing is a good way to test how your partner feels about you having your own business and income, which will tell you everything you need to know about how to proceed.

You never want to be caught financially off guard because your partner ends up being someone different than who you thought they were.

I hope this post was able to provide a lot of insight into the several ways to set up multiple passive income streams for yourself and give yourself the peace of mind that even if something bad should happen, you are financially prepared to handle it in one way or another.

If you are interested in learning more about getting started in digital marketing, please check out my course, the Digital Daily Pay Blueprint, where you’ll learn everything there is to know about digital marketing, how to make money, and so much more!

Start your next adventure here!

Talk to y’all soon!

xoxo–Amanda