In today’s episode, Loraine explores the question of how many ways there are to earn money. She delves into the concept of the cash flow quadrant, discussing the four quadrants - employed, self-employed, business owners, and investors. In this episode, she covers various income streams, including active, passive, and portfolio income, highlighting the importance of creating multiple sources of income for financial stability. Loraine also emphasizes the significance of diversification and empowering women through financial independence.

KEY TAKEAWAYS

• There are four main ways to earn money according to the cash flow quadrant: E for employed, S for self-employed, B for business owners, and I for investors.
• Income streams fall into three categories: active, passive, and portfolio. Active income involves trading time for money, passive income comes from assets, and portfolio income is from investments.
• Having multiple income streams can provide financial stability and peace of mind, with the average millionaire having seven streams of income.
• Diversifying income sources is crucial for mitigating risk and ensuring financial resilience, especially in the face of unexpected disruptions.
• Financial independence is essential for everyone, particularly women, to combat systemic barriers and achieve empowerment, security, and the ability to pursue personal aspirations.
  
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BEST MOMENTS

"Income streams fall into three categories, active, passive and portfolio. Active income is time for money, working for yourself or an employer, starting a side hustle, providing a service, earning commissions and creating content around your passion."

"Having multiple income streams can give you peace of mind with your finances. When you aren't relying on one single job or investment for your money, most millionaires have several streams of income."

"Diversification not only mitigates risk but also unlocks opportunities for greater financial stability and flexibility. Relying solely on one income stream leaves individuals vulnerable to unexpected disruptions."

"Achieving financial independence is a vital pursuit of everyone regardless of gender. However, women should think seriously about their financial independence, even within the circumstances of marriage or relationships."

"By championing economic empowerment, women can challenge traditional gender norms, advocate for equality and pave the way for a more inclusive and equitable future."

HOST BIO

Loraine is a blogger, digital creator, and author.

A former Property Management business owner spent a decade in HMO and family rentals before moving to Spain in 2016 with dreams of becoming fully retired and living in Spain with her partner, but that dream shattered in September 2020. 

Loraine explains how she has now experienced the three D's in relationship endings. Divorce, death of a partner and now discard, the abrupt termination of a relationship. 

Currently working on rebuilding her life whilst living with three overlapping litigations post-separation including the threat of precarious eviction by a former partner.

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