Are you feeling the January drought yet? If you are, we can relate to that. It is still early in the year and that presents ample opportunity to make better financial choices, so you don’t repeat the financial mistakes of previous years. The truth is, to diversify your income can be quite a challenge, especially when there are various bills to settle and global inflation rates are on steroids. That said, it is important that you understand the intricacies of being disciplined before and after earning. 

First, you need to see your income as a means to an end, rather than an end in itself. Therefore, before you receive it, plan properly. Here are two tips to help.

Be honest with yourself 

What honesty does in this case is to allow you to spend without feeling guilty. For instance, if you can’t save or invest up to ten percent of your income, it’s more probable that you are earning lower than because you’re not disciplined. So instead of guilt-tripping yourself, you could find ways to increase your income like learning a high-demand skill, applying for more jobs, and starting a business. 

Employ discipline

Another way to look at it is that you can be disciplined if you want to. So, have a talk with yourself. Do you not want to save or invest because you’re earning low or because you lack discipline? You can correct this by cutting down certain expenses, and sticking to your budget no matter the temptation. 

After setting these in place, the next step is to learn how to diversify your income. You can either save or invest. 

5 ways to diversify your income

Personal Development 
Diversify Your Income

This is the most important of all ways to diversify your income. What is that skill you’ve always wanted to learn or a dream you want to pursue? Invest a part of your income in it regularly. Your personal development is a pretty sure bet to starting over if you lose everything. It is also your key to upgrade yourself. So, buy that course. Attend that seminar. Buy that book, and so on. 

Diversify Your Income

According to Richest Man in Babylon, at least ten percent of your income should be saved regularly. Fortunately, savings have become digitized. There are various apps where you can save your money. They even have various kinds, there is the option to keep your funds locked long-term or short-term. And interestingly, there are interests. 

Diversify Your Income

Nothing is assured, not even life. So it is important that you insure your assets, including your health, life and automobiles. Fortunately too, insurances have been digitized so you can easily log into a platform and insure your assets. Also, many banks have great insurance plans which come with interests. 


Equity is the money value of a property or business after debts have been subtracted. It is what owners put into it. 

Diversify Your Income

In the last decade, startups have been on the rise. In fact, almost every week, various startups launch. So it is another channel to put your money into. And fortunately too, there are online platforms that organize this. They line up startups who are crowd-funding, show you their valuation and every other important detail you need to know. 

The money you put into these companies appreciates with time. But you have to be wise and apply only to companies that have a strong potential to succeed. 

Real Estate
Diversify Your Income

If there’s a factor of production that will always appreciate overtime, it’s land. So buying properties is a surefire way to diversify your income. Interestingly, there are platforms that offer you opportunities to save monthly towards buying a property. And after buying these properties, you can do a lot with them. Let out apartments, let out shops, sell the property after some years, and so on. 

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