Posts Tagged ‘ multiple income streams ’

How Are You faring in the “Jobless Recovery”?

By Kevin M

Jobless recovery–that’s an obvious oxymoron if ever there was one. I first heard the term coming out of the last recession in the early 2000s. Then as now, the economy was somehow miraculously growing without worker participation. Now the term is starting to be heard in connection with the latest “recovery”, and it seems just as meaningless now as it did back then.

Do you ever get the feeling that most of what economists mean when they talk about “the economy” is a semi-worthless pile of possibly bogus statistics?

Mark Twain was credited with saying, “there three kinds of lies: lies, damn lies–and statistics”.

To that I say a big, fat AMEN!

If you have a sense that economy isn’t quite recovering, you’ve got a lot of company—I mean apart from just me. A recent article from CNNMoney (posted on Yahoo!Finance), titled How the middle class became the underclass confirms our worst suspicions.

“Incomes for 90% of Americans have been stuck in neutral, and it’s not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed… While globalization has lifted millions out of poverty in developing nations, it hasn’t exactly been a win for middle class workers in the U.S.”

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8 Reasons to Work While Collecting Unemployment Benefits

By Kevin M


There’s a popular line of reasoning that once you’ve lost your job and you’re collecting unemployment benefits that you’re new “fulltime job” is finding a new fulltime job. You have the motivation (being jobless) and at least some income to cover you until you find something else, so this makes sense.

But what if you were to approach the situation a bit differently, say by recognizing your time of unemployment as a valuable opportunity to experiment? You can do that through various forms of employment—temporary jobs, contract work, and part time—and even though you’ll lose some or all of your benefits for a time, it may be worth doing.

Here are some reasons why taking at least a part time job may be better than staying home and spending all of your time looking for a new full time job.

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Cultivate Multiple Income Sources

STRATEGY #5 TO SURVIVE A DOWN ECONOMY

By Kevin M

In the dreary job market of the moment, people are having difficulty with two major areas in particular: keeping a steady income flow and increasing that flow. The increasing level of unemployment is not only eliminating jobs, but it’s also putting a lid on raises and promotion opportunities. This is in large part, the driving force behind the credit crisis and the epidemic of foreclosures and bankruptcies. Is there a way to deal with it without taking unnecessary risks?

In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help us deal with the bad economy. Our topic for today, Strategy #5:

Be prepared to cultivate and balance multiple income sources. You may have a full time job and a part time business, or vice versa. Think of your work in terms of an investment portfolio, in which diversification adds strength. There are probably several jobs you are potentially good at; always be on the lookout for new opportunities.

Why increasing income or broadening the income base matter

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