Establishing Multiple Income Streams for the Homesteader – an Overview

Generating Income from Home

Multiple Income Streams for the HomesteaderLike I said in my previous post, I’ve been feeling this sense of urgency – I want to move to our property! I’m tired of paying landlords, I’m tired of my husband being gone most of the day, I’m tired of having to ask permission to do things in the yard, tired of being limited in space, tired of not having a milk cow… I’m tired of lots and lots of things! Especially in the realization that gardening here is pretty much impossible, which is going to be harder on me as time goes on.

Not too long ago, I opened up our budget spreadsheet and did an “as if” estimate. I was just simply shocked – the costs of renting as well as paying on the mortgage for the property, gas costs of commuting, food costs because of not being able to grow/raise our own, it all added up tremendously. As in, to the point that we could live quite comfortably on HALF of our current net income if we were able to just be there instead of here.

So, with that in mind, I’ve been working on a few things. We’re in a tight situation where we don’t have a lot of extra left over at the end of the month, so any significant financial savings is going to have to be gotten from non-job means. Not only that, but given the fact that jobs are pretty few and far between out where we want to live, it’s most likely going to necessitate us being able to support ourselves without a job. To me, this says one thing – self employment!

In this economy, however, I am not going to trust any one thing. I’ve spent the last year or so passively looking for opportunities to start building up income streams so that at some point, we’ll have enough of that coming in that we can safely plan on moving. There’s two parts to this – things I can get going now, while we’re still waiting for the opportunity, and then things we can work on once we are out there. What we essentially need is enough money coming in monthly to pay for those monthly expenditures, and also about $25k to build a little 20×30 2-story cabin to live in until we are able to build our permanent home. It will have enough space for us to settle in and be okay in the winter, but won’t be anything fancy… just the bare minimum, please. Once we get settled and can start building the property up a bit, then we can work on building our dream hobbit house 🙂

I’ve been working on this and have seen some things that are successful to me, and some that are not so successful. One thing I’ve looked around at is the various methods of doing internet marketing. Internet marketing immediately makes most people think “scam” but there are actually some different ways you can make money online and actually add value to people’s lives. Actually, there’s TONS of ways you can do it. I found that out of the different methods I tried, some I liked and some I didn’t. I’ll definitely give you the 411 on all of it.

Before we go on, though, I want to get this out of the way – there are some programs that I will recommend, and some I won’t. Many of the programs that I am using or have used, and recommend, will pay an affiliate commission for anyone I refer. So therefore, I will be using appropriate affiliate links for those programs. Having said that, for integrity’s sake, I will NOT be placing affiliate links of any kind to programs that I do not recommend.

And it isn’t just internet marketing, but there’s a few other things I’ve been doing as well and I’ll go over that stuff too. It’s important to keep it varied a little, especially in this particular economy because if one thing takes a hit, you aren’t out in the cold.  Or, in other words, don’t keep your eggs in one basked!  So… click here for the first post in the series – Generating Income from Home.

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    1. We had thought about that, actually! The ultimate reason we chose a cabin over a mobile is because a big part of the cost is bringing power up to the site, and also putting in the septic drain field, etc. Those expenses are going to happen regardless of what kind of home we put up there. The $25k number is actually kind of arbitrary… it may be less once we finalize the design (my dad is a subcontractor so he’s got connections). We already have a travel trailer up there that we could live in for the summer, so actually if the opportunity came up (like, a dream job within commutable distance) we could easily live on-site in the summer and rent a small place in town in the winter.

      Oh and we live in a mobile home right now 🙂 It is a good price, and this one is actually a good quality doublewide as far as mobiles go but there’s some things I just can’t stand… it doesn’t heat evenly in the winter, doors fall off the hinges (the doorjambs are made from cheap laminate) and stuff like that. If we went with the mobile home route, we’d probably end up with a super cheap mobile that would need extensive repairs and fixup to be livable for several years, or we’d end up paying close to $25k for a decent one anyway.

      So this way we’ll end up with a cute little guest cabin once we build our final house, and in the meantime I can design my own kitchen (hurray!) and I don’t have to worry about heat loss in the winter or constantly having things to repair.

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