The Importance of Multiple Source of Income (MSI) – Blueprint to Escape from the Rat Race


The Peril of Only One Stream of Income

There are many people out there who are relying on only one source of income. That is a pretty risky proposition. In this time of economic difficulties, companies are looking to cut costs and hire on a contractual or semi-permanent basis. What does this mean?


This means your job in which you depend so much as a lone income source, may no longer be safe like it used to be. It is never good to be too confident to assume that you are safe in your job as you never know what is your future will be. What if you have a big disagreement with your employers? What if there is a big conflict in the office that you may have to step down? Worst still, what if your company suddenly ran into a serious problem and has to be closed down? Are you ready if these kinds of situation happens and do you have any backup plan?

Multiple Source of Income (MSI)

MSI pic1

As you can see, it is very important that you make a plan to get yourself more than one source of income. You should have multiple source of income so that you do not have to depend too much on only one source of income. Even a modest extra income earned could go a long way to paying out your debt or increase your investment.

The Value of a Second Income Stream

So let say that you have a second stream of income you earned modestly at $500 from an online site that you built. What can you do with your extra $500?ExtraIncome1

  • Pay your credit card debt
  • Cover your car payments
  • Save & invest in a safe & proven fund
  • Think of it as a pay raise of $500 from your current salary

Above are just some examples and the point is that even a relatively small or modest extra income can go a long way for you financially.

What Makes a Great Source of Extra Income for You

There are many ways to get yourself an extra income. You heard of people who get themselves a second job at Walmart or Starbucks to earn some extra income. However, that option is a bit of a stretch, especially when you have long hours job in the office, or family and children at home.

For a great source of income, consider these factors for generating multiple income streams:

Flexible – The most ideal source of extra income if you are able to set your own time. This especially true if you have a full time job, and the last thing you need is to be tied down or committed to another second job that eats up your already limited hours in a week.

Scalable – You should look at income sources that have the opportunity to generate substantial amounts of income.

Sustainable – It would be ideal if your extra source of income still able to generate cash or make money for you even when you’re not working at it. It should be something that can eventually function even if you are not around.

Enjoyable – It is a lot work to generate an additional source of income. Therefore, you might as well enjoy and have fun in what you are doing.

Inexpensive – It is not advisable to start an income generating ideas that require huge investment. You may risk falling further financially if it doesn’t work out. It is okay to start small.

Extra Income Ideas for YouIdeas

Now is the time to get some ideas on generating extra income for yourself. You may want to choose something that can fit based on your interest and personality. If you have certain skills, training or education, this can help to dictate what is the best option for you. Please see below some extra income ideas that you can consider:

  1. Taking Paid Surveys from Home: Paid surveys can be a little ambiguous sometimes. However, there are a few websites out there that actually do pay for helping them to take surveys. The fact is that companies desperately want your opinion, and they are willing to pay it. The challenge is knowing which paid surveys pay the best. One of the most popular and legitimate survey sites is CashCrate. You don’t only make money taking surveys, but you can also make money by referring friends and family to CashCrate.
  2. EBay Store: It is easy to run an online eBay store now. You can either acquire products for resell on ebay, or you can also create an online store to promote and sell products that others are selling on eBay. You get a share of the commissions from the sales generated.ebay store
  3. Build Your Own Online Business: To make money online does not require much cash investment and you can do it from the comfort of your own home. To be able to make money from your own online business, having your own website or blog is very important for your online business success. I have a page dedicated to building website for online business here. I have also made a review on a top ranking, affiliate marketing site here called the Wealthy Affiliate. That is where I started and they teach step by step process on how to make money online the right and proper way.

    Path to Online Business Success

    Path to Online Business Success

  4. Real Estate: Selling real estate or becoming a real estate agent may seem a bit off right now, but usually in a slow market, many competitionsReal Estate Biz fled off and you find yourself with a lot opportunity. You will need an initial investment to obtain your real estate license, but in the long term, you have the potential to earn nice income.
  5. Website Design: Website design has continued to become a fast growing industry with the rapid growth of the Internet. If you don’t have the required skills, you will need to spend some time learning the technology and process. Not to worry, available online resources are plentiful and the best in the business have the potential to earn a great income.
  6. Graphic Designer/Artist: There are many ways to earn incomes through graphics. As simple as a logo design business could keep you busy and earn incomes if you have the skills for developing cool graphics.
  7. Virtual Assistant: What does a virtual assistant do? Well, basically a virtual assistant today can do just about anything for you that do not VA1require their physical presence. There are many virtual assistants from places like India who are working full time for people in the U.S. The best virtual assistant can earn up to $30 to $50 per hour. One of the best starting place is at Elance.
  8. Freelance writer: Have the knack for writing? Freelancing is a great way to earn income by writing for others. As a start, you can contact bloggers who are always looking for great writing. You can also find writing gigs at Elance or fiverr if you are just starting and looking some extra cash.
  9. Home business: There are limitless ideas and potential for home business. Some conventional business can be started from home and renting a shop is not necessary. Examples are catering business, wedding decorations, cake baking, custom-made cupcakes, sound studios and much more. Running a business from home, greatly reduced your initial investment. Promotions can be done cheaply or at no cost through word of mouth or common social media platforms.
  10. Sell products: If you have your own product that you made or created, by all mean make an effort to promote them and earn income for you. It may be hard work, but it is more satisfying if you’re doing something that you are passionate about. While you are at it, why not learn to promote your product online here.

The above list are just 10 of the many ways to generate extra income or multiple source of income. I hope you get something out of my article on some ways to get multiple source of income (MSI). For me personally, other than my full time job at a company, I am also working on some multiple stream income through online business.

I learned my trade through this great online course here, and I am so thankful for it. I am looking forward for the day when I can eventually leave and escape the rat race.

If you have any questions or comments, you can write to at my Wealthy Affiliate profile here or just leave a comment below!



Be Sociable, Share!
Article Name
The Importance of Multiple Source of Income (MSI) – Blueprint to Escape from the Rat Race
To achieve time and financial freedom, it is very important that we don't rely on only one source of income only. Multiple source of income (MSI) is the to go to achieve time and financial independence.


I decided to start my own online business so that I can escape the rat race that I am in. Things are really progressing well and it is just a matter of time before I can be finally free from my 9-5 job. With ratracebuster.com, I hope I can help other people to escape or avoid the rat race through learning the online business and other legitimate opportunity in the online world. I will be reviewing products, sharing discussions, and blog about my online business ventures as well.


  1. I joined Wealthy affiliate about 5 months ago and couldn’t be happier. I have learned so much and have used the training to do many of the suggestions that you have mentioned for multiple streams of income.

    • Thank you for your comment Kim. I couldn’t agree you more. Wealthy Affiliate is really an awesome learning place for multiple income stream frm the internet.


  2. Good article thanks
    I do not know if I want to jump completely away from my daily work, where I meet a lot of people every day.
    I will certainly give you the right to labor market is very uncertain and there is none of us know when we are going out and finding a new job.
    I myself have a website that I work on a daily basis and have chosen to be active on it instead of, for example, watch TV when I have free.
    I have chosen to work with Affiliate for it is the most risk-free business you possibly can work with.
    If you are of course lets not buy a lot of stupid courses overpriced.
    May I ask what prompted you to use Wealthy Affiliate platform as your base online?

    • Hi Steen, I was not implying that we should completely jump away from our daily work. What I was trying to say was it is not a wise idea to depend on only one source of income as we can easily get into financial trouble should anything happen to our job, or health or whatever that may affect our very livelihood. By having a multiple source of income, we have at least a buffer or something to fall on in case of anything such as losing our jobs, have to stay home to take care for our sick family members, or whatever it may be. That is way, I believe that Wealthy Affiliate is a great platform for us to create multiple source of income. We get to learn to build website for business, enter different niches that can be potentially profitable. Thanks a lot for your comment Steen.

  3. This is a really nice post. I liek the topic as I have spent a lot of hours searching for a second revenue source.

    I luckily found Wealthy Affiliate and I now have a second source of income from a website that I started thanks to the training at WA,

    Great information and very helpful.


    • Hi Robert, I’m glad that you find the information very helpful to you. We need to have a back-up plan and not to rely on only one source of income right? Cheers buddy!

  4. I fully agree with you. One source of income today is definitely risky. The same applies to different sources of traffic.

    For example if you only rely on Google and if suddenly your website drops in rankings you will lose traffic. That is why you should also drive traffic for example from YouTube or social media. If you lose one source of traffic you will have two others.

    It works the same offline. As they say: do not put all of your eggs into one basket.

    • Great idea Luke! YouTube and social media signals will certainly help your business to grow and have an online presence. Thanks for sharing us all.

  5. Hi there! Very informative post! Having multiple source of income is really important. However most people think that it is hard to do and they are afraid to learn something new. By the way, I like the idea about making my own online business. How does it work? Can beginners like me can make our own too?

    • Hi John, really appreciate your comment here. Having a multiple source income is really the way to go if you are looking to have a secure financial future. I, for example, has a part time job, an offline digital marketing business, and also a few online ventures.

      To start an online business, first and foremost, you must have your own website. Think of it as your own real estate in the online world. It is very easy to start your own website nowadays and I have written about it HERE.

      Of course, it helps if you have an idea or better still a potentially profitable niche that you can tap into. Find out how you can find a profitable niche online on my article on How to Find Profitable Market Niche HERE.

      Can beginners learn this? Definitely and it is not as difficult as you think. You can read my Wealthy Affiliate Review HERE on how easy it is to start an legitimate online business and be profitable with it.

  6. I can so relate to this post! I started Wealthy Affiliate just a little over a month ago and my husband and I are struggling relying on just his job. We have two young children and we’re finding it is not even worth it for me to go to work when childcare would literally be almost my entire pay for two children. Wealthy Affiliate is our chance for a multi-income household while still bing able to be home with my kids. I hope I have some success stories to share soon! Great post!

    • Hey Krista! I am really glad that you can relate to my post here. Just like you, I am doing my best to get my feet wet in online marketing through Wealthy Affiliate. I am starting to see some results and also some income coming-in as well. May not be that much but it shows that WA teachings really works! Do you your very best Krista and never give-up. Really hope to hear your success stories next time!

  7. In this day and age having many streams of income coming in is the way to go. I really like that you have different links included in here.

    Shows me I can go many different ways to earn income, although I do wonder what will happen when the market gets more condensed.

    • Hi Jagi, thanks for the comment. In this day and age, where economy can go up or down, multiple streams of income will help to protect our future from catastrophic financial problems. You talk about market gets more condensed. Well yes market can get more condensed for sure but the main key is to seek opportunities or other untapped niche within that so called “condensed”. We must always keep out options open and ready to strike in when the opportunity comes in 😉

Leave a Reply

Your email address will not be published. Required fields are marked *