The Extra

Let me remind you that your life is your business and in that business you have to manage and understand your banking needs.   In the last few posts, we’ve discussed auto expenses, allowances, unexpected expenses, the mortgage, credit and much more.  Visit kerryaclark.com to review.   In this post, we will discuss your family’s “business accounts.”  Now what does that mean?

Can You Stand to Earn a Little Extra?
The Kerry A. Clark & Co. team believes that every family, every home, every person should have multiple streams (sources) of income.  This isn’t something that’s commonly taught.  Many times people frown on this terminology as if it’s a get-rich-quick scheme.  My intention is to make you aware that you have more to offer the world, the company you work for and society, than what you do for any 8-5 job.   Don’t simply rely on a single company’s paycheck when you have gifts, skills and talents that can earn you some additional income.  That’s all we wish to say.  As my Dad preaches, “don’t put all your eggs in one basket.”  You may not earn a living using your gifts, but you can earn a little extra. Can you stand to make a little extra?

Maybe you don’t have multiple sources of income, but desire to.  In this day and age, you don’t have to settle with income coming from a single source.  Here’s your opportunity to get started finding multiple ways to earn income.  This is a perfect addition to your family plan.  Adding it to the family plan will encourage you to begin thinking of ways, deciding on opportunities and moving in the direction of your plans.  Making plans is the only way for you to get from where you are to where you wish to be; start planning now.  Don’t put it off.

Already Have Multiple Income Sources?
If you already have multiple income sources, consider this banking strategy.  You don’t want to mix money.  For example, don’t mix your business expenses with your family’s expenses.  My wife, Pamela, hears this all the time.  We don’t take funds from one account to handle expenses that should come from its respective account.  Each budget must account for itself. In this case, use your business funds to handle your business.  The money used to manage the business should support your business.  When it produces a profit (the little extra), then you should give the funds a name, a purpose.  In other words, have a plan for the designated and the extra.

Now that I have your juices flowing, you’re thinking about how to plan for multiple streams of income,  it’s time to start planning.  Don’t make this process complicated.  If the only thing in your plan is that you desire multiple streams of income, write it down.  Next you can build upon it, like asking the question, what can I do to earn some extra money?  Planning is just that simple and it doesn’t cost you a dime.

Today is Friday!
It’s a good day to begin your family plan or to add your desire for multiple streams of income to the plan you already have.

Question: What ideas can you think of to earn some extra income for your family? Leave a comment below or click here to email me (or tweet me).