The year is young, but if this past January is any indication, 2019 is going to be one to remember—and not necessarily in a good way. The furlough of hundreds of thousands of government workers during the first month of the year left many people struggling to make ends meet, and even more people asking themselves: what would I do if I were in their shoes?
Would you have had enough in savings to make it through the 35 day shutdown without making a major sacrifice?
Okay, okay—I know it’s out of character for me to speak about something so depressing and scary in my blog, but I can’t help it. I’ve spent years—decades!—thinking about building financial security for myself and my family, and I just have to share my piece.
And of course, it will all relate back to WineShop at Home (hint: a side hustle, like being a wine consultant for a company like WineShop at Home, can make a major difference when we’re faced with unexpected financial blows like many people were earlier in the year).
Are You Ready for a Downturn?
It scares me when I think about how many Americans can’t afford to miss a couple paychecks. This means that people are cutting it really close every single month and relying on new money coming in to pay every bill.
By the way, I want to be especially clear that this is not necessarily their fault. Many Americans find themselves working 40+ hours for very little money while their rent, grocery and utility bills continue to climb—but that’s a different conversation for a different blog.
I absolutely don’t blame people who live paycheck to paycheck, but rather, my point is that in 2019, it’s often not enough to rely on a single income.
In fact, I recommend that people secure three sources of income at all times (think of your financial security as a table: the table won’t stand on its own if it only has one or two legs; you need three to be completely stable). That way, in case they’re laid off or experience a medical emergency and can’t work or need to spend time with family, they can do so without suffering catastrophic financial losses.
My solution? Lean into what you love.
Everyone Should Have a Hobby that can Turn a Profit
Imagine that you’re a government employee. You work 40 hours a week in your regular job, and since you love wine so much, you’re also a consultant for WineShop at Home. Several times a month you host wine tastings in your neighborhood and receive a small but noteworthy commission check. Maybe it’s not paying all the bills, but it’s sure helping to pay off your student loans!
When the furlough comes along and you’re told that you won’t be receiving a paycheck, what’s the first thing you do? Start making phone calls to get tastings scheduled for the month! Before you know it, you’ve booked 5 tastings (you normally only do 3 every month), and at one of the tastings you meet someone who is interested in joining your team.
When your commission check arrives, you’ve made more than ever before, and you finally understand just how valuable your “hobby” really is. Now you know that if anything ever happened and you were to lose your job, you can confidently lean into your passion for WineShop at Home and quickly bring in more money when it really counts.
See how that works?
Don’t wait for a scary wake-up call like a job loss or a furlough situation before you find your next source of income. Do it now! If you think WineShop at Home may be a fit for you, let’s talk. Click HERE to connect with me directly.