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Earning a Second Income in Tough Economic Times

Don’t put all your eggs in one basket.” That’s a saying I remember from childhood – but it is so relevant today in this current economic climate to illustrate the value of having a second income.

I taught Physical education to 11-18 year olds. I can remember when I chose that career many people who, at the time, I considered to be merchants of doom, told me that this was a career I wouldn’t be able to follow all my working life. Looking back I realise that I really had given absolutely no thought to what might happen if, for whatever reason, I was no longer able to coach physical education and therefore have no income coming in.

Fortunately I have always been interested in business and so, whilst I was still teaching, I started a business  and opened a retail fashion shop, With good staff I was able to run this alongside my teaching career.

Sad to say the gloom and doom merchants were proved right as the day eventually arrived when, through injury , I could no longer teach phys ed full time. That was a shock to the system but how glad I was that, literally on the next day after I had finished teaching, I was able to go full time into the business I had set up. That was my first experience of seeing the value of always having a second income stream.

I went on to have five retail fashion outlets and it was whilst I had these that I was introduced to network marketing through Telecom Plus /Utility Warehouse. I loved the NWM concept and again, the fact that I could be building a second income alongside what I was currently doing – and this time the second income was residual.

As a Utility Warehouse Distributor part of my work is to show people the value of having a second income and sometimes, for various reasons, they turn down the opportunity.

I have lost count of the times someone has come back to me to talk about the  Utility Warehouse opportunity when something unfortunate has happened in their career path, and I hear the words ‘If only we had started to build up that 2nd income when we first spoke with you , we would now have something to fall back on.

My advice to anyone would be not to rely on one source of income, don’t risk losing everything all at once – always have a second income stream. You never know what lies ahead. Not only can it have a devastating effect financially but it can be emotionally traumatic.

Again going back to my childhood, follow the motto of the Girl Guides – or of course the Scouts – and ‘Be Prepared’. Always have a second income stream.

Published Date: 31st May 2011
Category: Second Income Job Ideas

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