Get All Access for $5/mo

How to Ensure You Are Always Making Money (Even If You Lose Your Job) To consistently make income, you should have multiple channels.

By Jeff Rose

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose asks what would happen if you lost your job today. Can you securely say if you would be prepared for the shortage of income?

Rose discussed the benefit of having a second source (or even a third, a fourth, and more), which can essentially offer you a means of insurance to continue affording and sustaining your regular living costs.

When brainstorming a means to secure another income source, consider regular routes to pay increases, like a traditional raise or learning a new skill to start a business.

Click play to hear more setting up diversified streams of income.

Related: Struggling to Save? Here Is the No. 1 Way People Waste Their Money.How to Start a Business With One Customer and Make It Popular

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Roku, Apple TV and the Entrepreneur App available on iOS and Android devices.

Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

More from Jeff Rose

This Certified Financial Planner Explains How to Invest $10,000

How I'm Picking the Best Stocks Right Now

Michael Jordan's Top 7 Rules for Success

Editor's Pick

Business News

'We Pulled Off An SEO Heist': Entrepreneur Stole 3.6 Million Pageviews From Competitors — And Your Business Could Be Next.

This has huge implications for businesses that rely on Google's organic traffic for revenue.

Business News

Wells Fargo Reportedly Fired More Than a Dozen Employees for Faking Keyboard Activity

The bank told Bloomberg that it "does not tolerate unethical behavior."

Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Leadership

7 Ways You Might Be Damaging Your Credibility as an Entrepreneur

Here are seven credibility killers entrepreneurs need to be aware of.