Multiple Income Streams for Students: If the past two years have taught us anything, it is that no job is ever truly secure. Unforeseen events such as changes in the economy, technological advances, or even worldwide pandemics can cause once secure jobs to become obsolete and place workers at risk of financial ruin. One way to mitigate the effects of unexpected changes is to have multiple income streams. Having multiple streams of income provides individuals with the security of knowing that they have not placed all of their eggs in one basket. They are able to pivot and maintain financial stability when one of their streams of income stalls or disappears.
The Importance of Multiple Income Streams for Students In 2023
Many schools prepare students to enter the workforce with a single career mentality. Students are told that they need to go to college, graduate, get a job, and work hard to move up the corporate ladder. While this is sound advice, it teaches students to view their job as their sole source of income. Schools can modernize their curriculum by adopting programs that actively teach students to assess their skills along with showing them multiple ways where they can monetize their skills! Yes, students should still be taught how to succeed at a traditional job, but they can also be taught the benefits of additional streams of income and the economic freedom that comes from using this additional money to grow their wealth. Schools can give their students a head start by encouraging them to seek out ways to earn extra money before they even graduate and teach them how to manage their money wisely.
With so much uncertainty in today’s world, schools can help their students to weather any financial storm by teaching them to think beyond the traditional job and leverage their skills to create multiple income streams.