Seven Streams Of Income
March 18, 2022 - Friday, 11:58 PM
Life of a minimum wager employee is too hard here in the Philippines, especially when you're married and your the only one working for your family. Just by the necessities alone for everyday living is already a wall to break for them and how much more for those who needs to pay rent because can't afford to build or bought houses.
As a minimum wager here in the city that needs to pay rent per month, I have experience the struggle too. Ever since I came to the city, my eyes were open to the harsh society and realities in life. Life was just a series of paychecks and bills reciepts. It was a normal routine for my first seven long years here in the City.
Fortunately, I came to know kindhearted lovely humans who teaches me about this thing they called Seven Streams of Income and I made them my mentor during those stretch of years.
One normal day in our office, a colleague opens up about it. As I listen to her attentively, I was amaze of how big her savings is by just doing these thing they called Seven Streams of Income.
From the word itself, Seven Streams of Income literally means seven source of income. This is a personal way of growing your own money. It is a practice of entrepreneurship where in you'll try your very best to have a seven source of income.
When I challenge myself also to apply this to myself, it's very stressful but rewarding. Just Imagine having seven small businesses or investments and managed it by your own. It very tiring and consuming but it has a very assuring results in terms of saving and growing your money.
My Seven Streams of Income
Employed Full-time
Money Lending
Selling Load
Sinking Fund
Selling Dry Goods (Various Fishes and Squid)
Selling Body Essentials
Hog raising
All that I put on that list was true but it was before the pandemic happens and now I'm back to zero again chill'hustler's and planning to do it again once we are fully back to normal.
These Streams were all small investment but it was a passive one. The first stream of income was my salary and is budgeted for my daily expenses and living and the rest goes directly to saving once it gains revenues.
When I started to lend friends and workmates with money, I'll add 5% interest on top of it. My initial capital for it was 24 thousand pesos only (almost five hundred dollars). Every payday, I always save 20% of it and it goes straight to fund my small lending business. As more and more money borrowers knows my tiny business, more also jumped on it that are hard payers which force me to stop it once the pandemic and lockdown started. Just to give you chill'hustler's the total interest I manage to accumulate on its first year was twenty-two thousand pesos ($440).
During 2019 Christmas, I gifted my top 10 money borrowers with Tumblers and Tupper-wares to celebrate Christmas spirit and strengthen their trust in me. I was very happy that time because that was also the first time I give gifts that many to people I know personally chill'hustler's.
On the following year of 2020 which is also the year when COVID-19 outbreak develops and becomes a global pandemic, most of my borrowers lost their jobs and my conscience was fighting inside me because I need to get back those hard earn money also that I lend to them but it was very hard for me knowing the current situation. That's why I let them all pay it later but without additional interest added on top of its original monthly interest rates. The last one just paid last month which prolonged his payments instead of the original six months to pay credit. Good thing he still managed to pay me even though his struggling too because her wife give birth to their second child last november.
I'll end it here for now chill'hustler's and I will tackle the six other streams left on the list in the coming days.
To Be Continued...!!!
Hello there Chill'hustlers!! 🙋🏽♂️ That's it
for today and as always, I'm glad you
reach the end again, thank y'all for
always sharing your day with me, see you
on the next one Chill'hustler's. Have a
chill vibe month of March and stay hopeful
cause better days are comin', Good vibes
always, Jah bless and PEACE ✌️!!! 🙏🙇
Adieux..!!!
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Title : Seven Streams Of Income
Author : @Carewind - 81st Article
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ganyan ako dati lods.well I think alam mo na ang mga pinagdaanan kong business.nagpapalend din ako dati kaso until now di pa nakabayad ang iba.mga almost 30k pa ang collectibles ko pero wala akong magagawa kong wala silang pambayad.haysttt.