All too often we focus on cutting back our spending, reducing our expenses and the idea of scarcity when talking about paying off debt or achieving other financial goals. Just as a business pays attention to its revenue and expenses to ensure growth, so too must we pay attention to our revenue and expenses, and not just our expenses, to ensure growth.
Kimberly Palmer just released The Economy of You. In this interview to promote her book, she discusses the need for an entrepreneurial spirit. It may be harsh to hear that you must give up your evening and weekend binge-watching of Netflix, but it’s a reality to ensure your financial growth.
Wages are stagnant, if you’re lucky enough to have a job. Only relying on your current employer is like putting all your eggs in one basket or all your money into one stock. It’s not wise. You must diversify.
Ever wonder why celebrities not only sing or act, but also have perfume and clothing lines, have a brand of tequila or a line of organic salad dressing? It’s because they understand they can make more money with multiple streams of income capitalizing on their name.
We regular people must do the same. We must maximize our talents, multiple our streams of income and ensure continuous financial growth.