Create Multiple Streams of Income
Ecclesiastes 11:1-2 Cast thy bread upon the waters: for thou shalt find it after many days.2 Give a portion to seven, and to eight; for thou knowest not what evil shall be upon the earth
Another habit that is necessary to create uncommon success in your finances is that of developing multiple streams of income. 2 Chronicles 9:22 tells us that King Solomon was richer than all the other kings of the earth. Apart from his wisdom, the other reason for his great wealth was that he had multiple streams of income. The aforementioned verse highlights that part of the reason for his wealth is that he traded by ships in five (5) commodities: gold, silver, ivory, apes, and peacocks. Take note that the income that he generated from these would have been separate from the allotment that he received as king. Most people in our society that are wealthy today take the same approach that Solomon did in creating significant wealth. Among 233 wealthy individuals surveyed by Tom Carley, the author of “Rich Habits”, it was found that 65 percent had three streams of income; 45 percent had four streams of income; 29 percent had five or more streams of income. You too can replicate the success of King Solomon by prudently creating multiple streams of income.
Developing multiple streams of income is something that Solomon encouraged us to do in Ecclesiastes 11:1-2. The scripture starts by saying “cast thy bread on the water”. What it is admonishing us to do is to invest our resources wisely in different ventures that will yield a profitable return after a while. In case you are wondering how many additional streams of income you should develop, the guidance provided by Solomon is seven (7) to eight (8). The scripture says, “give a portion to seven, and also to eight; for thou knowest not what evil shall be upon the earth.” The reason given by Solomon for the need for additional sources of income is that we do not know what trouble lies ahead. People may lose their jobs, business or suffer ill health; these are issues that multiple streams of income can also help to solve. Take steps today to start creating additional sources of income and magnify your success.
Life Application: Create multiple income streams by identifying areas of passion and look at ways that you can make them into an income stream. Start by developing one at a time so that you do not stretch yourself too thin.
Prayer: Lord, open opportunities for me to develop multiple streams of income. May I be prudent in my approach as you guide me to all that I should do. In Jesus’ name, amen.
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