Home Financial Education Beginners Guides How to Start Creating Extra Income, Ep #39

How to Start Creating Extra Income, Ep #39

How to Start Creating Extra Income, Ep #39

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We all could use a little extra income but getting started on creating it can seem like an impossible task. The good news is it easier than you think. In my experience, the start of any financial growth journey is rooted in intention. It doesn’t matter how little cash flow you have or how many resources you don’t have. What really gets the ball rolling is a choice to start managing what you do have with the goal of making it grow. On this episode, I am going to share with you the story of how I got started in creating additional sources of revenue and growing my cash flow. Listen to this episode to hear my tops tips for success.

Find out how to start creating #ExtraIncome and gain #FinancialFreedom on the #CashflowHackingPodcast Click To Tweet

Outline of This Episode

  • [0:55] Find out how Casey got started in creating extra income
  • [2:27] His first attempt at cash flow started while he was in the Army
  • [4:51] Casey shares about his first experience with the stock market
  • [5:54] Find out about his very first business venture
  • [9:04] Learn the 80/20 rule of business
  • [10:00] Casey shares about a tipping point in his cash flow journey
  • [12:41] Explore what assets you do have instead of those that you don’t have
  • [14:51] Casey shares about maintaining financial discipline with larger cash flow
  • [17:05] Find out how many times you should try something new
  • [19:15] Casey shares about where he is at today in his cash flow journey

Resources

From the beginning, I made saving extra income a priority

As a young man, I served in the military. While I was deployed I received hazardous duty or combat pay. However, I didn’t really need any income because the military covered all my basic expenses. That made 100% of my paycheck extra income. A lot of people around me were finding ways to spend that money even though there was not really a lot to buy. I decided that instead of spending just to spend I would take every dollar and roll it into a savings account. Listen to this episode to find how my investments from that time paid off.

To gain #FinancialFreedom, saving #ExtraIncome needs to be a priority. Find out why on the #CashflowHackingPodcast. Click To Tweet

What I learned from starting my first business

After leaving the military I started my own carpet cleaning business. I didn’t know a lot about how to run a business, but I knew I wanted to create multiple sources of income for myself. So, in addition to my carpet cleaning business I found a job as a cook and working nights at a convenience store to bring in extra income. Working these three very different jobs sometimes had me working 24 hours a day. However, it allowed me to see which of them produced the most income for my time invested. Listen now to save yourself the trouble of working 24 hours a day and learn from my experience.

Stumbling across one article changed my life

By 2008 I had tried many different strategies for creating extra income, but I had not really found a way to replace my income. I was working in construction to support my new wife and our four children. The economy took a turn for the worse and construction jobs all but disappeared. As a result, I was laid off. I came across an article that claimed I could make $1000 a month by running my own website. I decided to try it, and guess what, it worked! I found a part-time job to bring in extra income while my website got up and running. Soon, I was able to quit that part-time job because my website was generating enough money to support my family. I will share how that happened, as well as the exact article I read on this episode.

What you need know about what I learned from starting my first #SmallBusiness. Find out on the #CashflowHackingPodcast Click To Tweet

Do not be afraid to take the risk

If there is one thing that I have learned from my cash flow journey it is to keep trying stuff and eventually something that works will turn up. I tried a lot of different things before I found the source of extra income that would eventually replace my income. It is important to keep looking for more opportunities and not be afraid to try them. There are going to be a lot of things that don’t work, but when you listen to this episode you will learn how to keep those losses from crippling your cashflow circle. Listen now to learn how to get started generating extra income for yourself and what my cash flow journey looks like today.

Connect With Casey

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Stumbling across one article was the #TippingPoint to my #FinancialFreedom. Find out why on the #CashflowHackingPodcast Click To Tweet Do not be afraid to take the #Risk. Learn to make wise #Investments on the #CashflowHackingPodcast Click To Tweet