Why It’s Imperative That You Have Second Income

The best things in life are free… as the saying goes, but your rent, mortgage, vehicle and living costs are most certainly not free. And those essential living costs are going up each year but wages are not.

With the majority of most people’s wages being used on rent, mortgages and living costs, a lot of people are left with very little spare to spend each month. This makes life hard and incredibly stressful.

Especially if something goes wrong and breaks like a car or the central heating which will need repairing with a cost. When you only have a couple of hundred pounds each month left to play with, it doesn’t take long before you are wiped out and have nothing spare to spend for the rest of the month.

You can kiss goodbye to the possibility of adding to your savings or making any long term investments.

Free Yourself From Your Prison

Living like this turns life into a prison. A perpetual sentence of your own making where you live in a never ending cycle of work – earn – spend – work – earn – spend. 

How can you enjoy your life when you are spending most of your time working to simply earn enough money to live? In fact you are not living, you are just existing.

What people need to make their lives a lot easier and stress free is to earn their living costs, or more, through a second income.

Whether that second income is a home based hobby business, a freelance service or by generating money from selling old and second hand items, the money needs to be fairly easy to generate without a lot of work.

The reason for that is that after working eight hours or more five days a week for a whole month, the last thing you need is to be working every hour of every evening or weekend as well. You still need to have a life and enjoy it.

The whole idea behind a second income is to make life easier and less stressful. Not to become an addition to your prison. 

A Basic Living Wage For Your Living Costs

If your monthly living costs are £1,300 yet your monthly income is only £1,500 then you have little money left to enjoy or do anything substantial with. If you want to save for a deposit to buy something expensive or invest in your future you are going to struggle.

Life is not meant to be this hard. It should be fun. Having a job and working to earn money should be about enhancing your life and aiding you to do more fun good stuff. It was never meant to be a prison.

Ideally you need to earn an extra £1,300 each month to make your life easier….  maybe a bit more to cover for any surprises such as car troubles or boiler breakdowns. All living costs should be covered without it being a detriment to your life. They should be covered by a simple basic living wage. 

All the other money earned from your job should be for having a good life today and planning for the future.

Find A Way To Make More For Less

It’s important that you find a way to earn that money without it taking up all of your time. The last thing that you need is another job which is going to take up all of your spare time.

You need to find a business model which gives you maximum returns on the efforts you put in. You need to deliver a service or product which pays you a premium rate. 

Your time is very short and so to utilise that time to generate the money that you are going to need each month to cover your necessary bills. You are going to have to find a way to generate as much profit as possible for the least amount of effort and time spent doing the work.

Of course you can find try for overtime in your current working position, or you can learn a much needed set of skills and get yourself promoted into a higher paying position, but that is not always a possibility in every job role. Not every job that you work can take you any higher and give you more money for the work that you do.

Many entrepreneurs and business owners will tell you that if you want to earn more money the best thing that you can do is actually leave work and start up your own business and work for yourself.

Working for yourself is the best way to generate more money.

But while you are working a job you may not be in a position to quit and start working for yourself fully, so the next best thing is to set up your own second business working from home in your spare time to generate the extra money which you need to make your life a lot more enjoyable.

What Can You Do To Make More Money From Home?

So what is it that you can do to earn more money from home working for yourself?

There are a lot of different ways such as trading sporting events and gambling like the popular system of Match Betting, or you can buy and sell items on eBay and Amazon or you can make your own products to sell. 

You can offer services such as web building or writing. If you click through to this article:

How You Can Make Money Using The Written Word

… you will see that writing is in fact a very profitable service that you can offer to people.The beautiful thing about writing as a business and a second income is that you can do it online from home and from anywhere in the world for anyone in the world. 

Writing really is a freedom business which can be incredibly profitable. Writing gives you an element of freedom which very few other businesses can. It is possible that you can run a writing business using nothing more than a tablet or even a smartphone.

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