The 🔑 to Financial Freedom for Women (yes, I said what I said)

because nothing good comes from being poor don't let anybody lie to you boo if you have a good job or a side hustle or business that's making money you are doing good girl but it could be better 2020 taught us that one income stream is too close to no income stream because anything can happen and it is my job as your financial educator to ensure that you're never caught off guard there are a lot of videos about multiple income streams on youtube but most of them are people telling you how they built 10 income streams at the age of 23 and while those videos are great because they might leave you feeling inspired this video is meant to do something a little different in this video i'm going to explain the different types of income streams and how to access them so that beyond feeling inspired you would be able to go out there with practical tools to build your own income streams so if this is the kind of content that you enjoy then please go ahead and hit the like button it helps this video go out to more people like you hi and welcome aura welcome back to the channel if you're new here hello i'm vanessa and on this channel we talk all things earning more and building wealth and today we have one of my favorite videos yet because in today's video i'm going to be sharing the seven types of income streams that you need to start building today and while all seven of them are important number six has been my highest paying one this year so make sure you take notes and watch this video all the way to the very end to get the most value out of it number one is active income with active income you're exchanging your time for money a good example of your active income stream could be your nine to five job and for most people your active income is your foundation it's the money that gives you the confidence to go out into the world and take risks because active income is usually reliable and stable for example if you work a 5 job no matter what happens during the month at the end of the month you are getting paid so you can decide to launch an etsy shop you can decide to start making videos in that month it really doesn't matter because no matter what happens to your other projects this income stream would keep coming in and that's why a lot of people don't let go of their active income until their other income streams are able to replace their active income that's the smart thing to do number two is residual income this income reminds me of bringing a child into the world all you have to do is do nice things with your significant other and then once it's done everything else just happens it's the same with residual income girl for example i have a couple of courses on skillshare i created the content i did the outline i posted them a couple of months ago and every single week i make money from those courses i don't do anything else i just did the work that one time and it keeps bringing me money and that's the beauty of residual income number three is interest income honey if you're saving some of your money good job but if all your savings are in a checking account or regular savings account it's not the best one of the fundamental things you can do to achieve financial wellness is to set aside three to six months of your living expenses in a savings account but not just any savings account you want to make sure that you're saving your money in a high yield savings account that way you're earning more interest than a regular savings account would give you and you're definitely earning more interest than a checking account would give you number four is investment income now the investing landscape has really changed in the past few years for those of you who don't know i have a master's degree in finance and i'm also a certified financial educator but while earning my master's degree i learned about financial instruments like stocks and bonds but cryptocurrencies and nfts are very new to the scene and because they're new to the scene there's a lot of misinformation about them so i'm currently taking my time to learn from sources that i trust so i can come back here and teach you all that i know so if you haven't subscribed yet make sure that you subscribe and hit the notification bell so you don't miss anything number five is business income back in the day running a business meant that you were selling something physical and you probably had a store or a warehouse and all the other good stuff but today we have something called the digital economy and it's my favorite i've made a ton of videos on the channel about starting a digital business because that's where my coins come from so i'm gonna link a playlist up here so you can binge to your heart satisfaction number six is creative income and what do i mean by creative income one is through google adsense because youtube places ads on these videos and the second way is through brand sponsorship so basically i get to express myself creatively and get paid to do it but if you're struggling to get your creative platform off the ground i'm gonna make a video all about that in the membership so if you haven't signed up yet the link will be in the description box number seven is affiliate income a lot of large organizations have something called an affiliate program where you the consumer can tell your audience about their products and get a commission for doing it amazon is currently the most popular one but a lot of companies have this so if you have an audience it doesn't even have to be a super large audience but if you have an audience and you use a product you can talk to your audience about the product and get paid to do so i haven't started monetizing this platform with affiliate links yet because my priority right now is that you get this knowledge so i hope you found this video helpful and that you now know that beyond your nine to five job there are other ways that you can make more money because we don't want to put all our eggs in one basket okay i'm speaking by faith that by this time next year you would have at least five of these income streams i'm rooting for you so please don't stop rooting for yourself and until next time please take care it's time you've been putting off starting this business for way too long and it's time so in today's video i'm gonna be teaching you how to start a business step by step and girl you know it's when you're busy trying to get your life together that he would text you and you'll be tempted to pause this video and text him back don't do it girl it's now worth it make sure you watch this video all the way to the very end because one i have an exciting announcement at the end of the video and two you can't afford to miss number seven now i know you have a lot of ideas they pop in your head every single day and night trust me girl i have a million ideas as well but you need to narrow down your ideas and a good way to do that is to ask yourself these three questions one what do i have a