As someone who spends like a drunken sailor and has no pot to piss in, I’m bingeing on your videos because they’re timely. Would love for you to do a video on the steps of starting a business - from your perspective, how you did it, and what you did.
I've been self-employed for 31 yrs.....yes, I worry all the time. Over the years my main customers have been slowly bought out by big companies and they don't need my services. At my age (59) it is very scary to totally change my entire business. I love how candid you are and don't change
About the instrument flipping, that’s what the Circle Jerks did when they toured in the 80s/90s. They’d see instruments in pawn shops costing a lot less in some parts of the country than others. So they’d buy them in the cheap areas and resell them in the higher areas
I have to say I've watched UA-cam videos for a long time. First for game stuff, then for entertainment, but now I watch to better my life. As a late bloomer in my mid to late 40s, your no nonsense advice has given me a fresh perspective, so thank you for that. I appreciate the no bullshit approach. Thank you.
I have several streams of income and have most of my working life (I started working at age 13; I think now you have to be 15 in order to get a worker's permit but when I was younger, the minimum age was 13). 1. My 9-to-5 job (I really enjoy the work I do and my co-workers are wonderful.) Full-time 2. Reselling business (Poshmark & Ebay) 3. Cleaning a leasing office 3x a week 4. My own business on Etsy selling crocheted and knitted creations 5. Part time job working as an administrative assistant for an interpreting company part time (~15-20 hours a week)
I have been flipping all my life. I enjoy it. I'm 68 and started at 16. My mistake was marrying a person that did not care about me. 47 years faithful and loyal did not mean a thing to her. I NEVER GOT MAD JUST WORKED UNTIL FINALLY I HAD ENOUGH.
I’m glad that you sound as though you made it through alright. My 6 years of dealing with the exact same type of person before ending it is nothing comparatively .
I live in Toronto too and I also have multiple ways of getting some of my money: job, selling old items (also flipping), bank interest and investment, take advantage of cashback from credit cards (I make sure i maximize my cashback and I use different cards depending on what I buy), invest in housing (I am a landlord) and I let someone pay for my mortgage. I came from a poor family so I started finding ways to help myself when i moved provinces at 21 years old. I think living a frugal life does really help a lot!
You make your own luck Nicole. You need not worry. You are too conscientious, motivated and smart to end up with nothing. It is natural for you to think out of the box, I can see that. You are strong, pragmatic, sensible, lev-headed and brave - and look where it has gotten you. Flipping fabulous! Keep going as you do and never give up as you appear not to do either. 🎉
People can make some of their own luck, but then others can help, too, with or without your solicitation. And circumstances, too, some of which fall into your lap. There's is "luck" beyond your control. And misfortune. Nicole is doing the right things to give herself the best odds, but anyone can be knee-capped and toppled by life. I've seen it first-hand. The financial crash, for example, took down many people on the verge on retirement; then they had to work the rest of the lives. Nevertheless, her advice is solid and well-advised, once again.
I am twice your age and have owned my own business for 20+ years, and I STILL worry about the future. Yeah, that never goes away. In handsight, while I've had slow months and even an entire year (thanks a lot, Covid), the worries have been mostly unfounded.
I like that your ideas & advice are more realistic & accessible than other financial channels I've watched. I've seen so many videos where they'll be like 'buy real estate, then rent it out & use that to pay the mortgage, & then use the extra & invest in xyz stocks that pay x in dividends, then use that to start a business...',etc. And it's not that it's bad advice, just not the most realistic plan for a lot of people.
Thanks for sharing Nicole! I am 'just' an employee, but you have to realize, conditions in Europe (Belgium) are way different than those in the USA (where I think you live). I got fired this year, yes, but the company had to keep me paying for half a year (depending on how long you were working there - for me: over 8 years). I found a new job in 2 months, so I was litterally payed double salary for 4 months 💰. (Of course next year, tax authorities will demand their share of it 😅) I also have an insurance from my employer, if I would get disabled and become 100% unable to do any job, I will get paid my current (decent) salary for the rest of my 'working' career (i.e. before retirement). That's rather assuring. There are even other advantages on top of that. Other streams of income for me: stock/shares (currently losing money with it due to the economical conditions, but that means this is the elected time to buy even more stock) and also interest of bank accounts (which is only like a dozen euros or so per year under current conditions in Europe). No UA-cam (yet?), no flipping. Second after my job as an employee, I spend most of my time volunteering. That doesn't help me on financial level, but rather on social level, if you know what I mean (e.g. the people I know from volunteering, might help me if I get into some kind of trouble due to sickness or whatever). I wish you good luck on creating extra streams of income over the next years 🙂.
You are such a refreshing presence and model: you share actual info and don’t have a pound of make up on your face, among other things I like about you…
i am definitely "your people".. tho i am much older, my life and living philosophy has mirrored yours- (i even lived in your city for a few years back in the 90's).. if i may, some advice, if you want to guarantee future income, concentrate on number 4- but yes, first you need to earn actively before earning passively, and the one way to guarantee that is to stay where you are..a place like Toronto will never run dry of ways to make active income, if it did, that would mean everything's gone to shit and it wouldnt matter anyhow.. when you are able to live anywhere you wish, without money worries, that is when you've made it- according to our philosophy.. love your vids.. thanks Nicole
I'm currently a full-time, stay-at-home mum, to a 7yr old with autism. I don't have a consistent stream of income, but I'm always interested in trying out new ideas. So far, the list has included: POD - Redbubble, Zazzle, Spreadshirt etc - all shite imo! Trading gold online - kind of fun and would do again, funds permitting Etsy - selling handmade items related to my hobbies (quilting, doll collecting), but quick burnout Amazon MTurk - horrible pay if you can even call it pay Amazon KDP - maybe some get lucky with it, I didn't Ebay + Vinted - so far are the winners for me. Since September 2023, I've made over £400 on Vinted, and just under £500 on ebay in the last 3 months. That was largely due to my selling my own stuff, and the dolls I used to collect were not cheap. Even broken tech sells easily there. Currently binge-watching your episodes (from London), and appreciate the no bs, straight delivery! ✊❤
Kudos to you, Nicole, for recognizing when one approach to something is not working. And then more kudos for actually taking action to find a different way to do it. The French author, Antoine decSaint-Exupéry, is reputed to have said, “a goal without a plan is just a wish.” I would add that a plan without action is just a fantasy.
As for me my main source is full time law enforcement, with a pension from Pryor law enforcement career that I retired from in 2005, receiving pension currently, getting ready to retire for a second time from new department not putting in as much time but walking away with a nice pension for life with a nice lump sum payment as well. We also have rental properties 4 family house that we are rehabbing now soon to sell. Fidelity investments and deferred compensation investments offered as a state worker. We only have a few years till we pull the plug. So I beginning my you tube channel as we speak, I’m getting my ducks in a row and I’m hoping to blow up on this UA-cam platform. I love your candid and honest delivery of your life and experiences. I wish you continued success!!!
I totally agree! Even though I've been self employed for the past 8 years, there is always this fear in my mind: "what if people stop requesting my services?" It's wonderful to have the freedom that self employment gives me but it's certainly stressful at times, when the income is not as consistent. 😓
I am self employed and I almost always have enough clients to get by financially but sometimes it does get scary when you get less than usual so I am right there with you.
For streams of income, I work part time, my husband works full time and I just started flipping on the side. We have 2 toddlers, so once they're a bit older and in school, I'll be either working more or ramping up the flipping. This year, we decided to open a second bank account that's high interest. We're still deciding on which one.
Loved the Mr Burns as a boss thing. I suffered 24 yrs in a shitty job that paid the bills till I saved enough to quit in 2001. Boss would tell me there's 400 people waiting outside the gate to take your job if you don't like it. Major brokerage firms like Charles Schwab have MM funds that pay 4.48% in and out in a day if you want to buy stks or need the dough. 3mo t-bills at 4.85% and 6 mo now paying 5.02%.
this g'ma looks forward to your vids every Sunday at 1030, after CBS Sunday morning. the two programs are both informative, entertaining, and well done, they even sequay well! at least for me! thank you for your dedication to offering others a path to tap their own patience for the future with solid advice while obviously walking the walk you talk.
I have been a "hustler" for the most part of my working life just out of necessity. As a musician, I could say that regular, high paying jobs are nearly non existent...so multiple sources of income are always a good thing! :)
In response to your question at 5:06: I was a self employed makeup artist for advertising for 13 years until Covid hit and suddenly my work did indeed dry up as the world went into lock down. When I finally went back to a job after the lockdown, being so close to people in my job I went down with Covid and was so poorly. So it forced me to reconsider what I wanted to do. I then stepped into the world of investing and focusing on my mice and building their UA-cam channel. So you are entirely right, it’s very important to have multiple income streams because you never know! ❤
I have 9 sources of income. I am good at saving but I am not as good as you are! Like you, I groom our Puppy Coco for the same of your reasons, I cook very well, but I love going out to good restaurants! I am 62, and today I see how many things I could have done in the past to make money, but today I want to get up when I want to get up! I wish I had learned how to acquire deep knowledge about investments, or how to double the money! When I was around 25 I was making a lot of money, but I didn’t know what to do with the money, so I used to make and loose it. Your positive approach is great simply because you are wise! Keep rocking!
Yes, I feel that way too. I'm a freelancer and I fear that one day people wouldn't be reaching out to me for work and I'll be left with no source of income.
The majority (85%) of let's say 5 income streams comes from 8-17 daily job. 2nd is a very small rent that I collect once a year. 3rd is investment in T-bills, i still have with high interest but is dropping fast. 4th is stock picking, buy cheaper and then sell with a little bit of profit. 5th stock dividends My portfolio is being comprised by stocks that give dividends at least 5% yield.
I have a day job that pays me more than enough to live by but i also have a lot of other sources of income. Also, I want to say that I admire your frugality. I can see that you barely have any furniture in your house, not saying it's a bad thing. In fact, it's admirable.
I’ve just subscribed to your channel and I love it! I’ve told my children who are all in their twenties to listen to your advice. I just retired at 54 and it was possible by being frugal all my life. I have had a financial adviser at BMO for thirty years and with that help and guidance has made my husband and I able to retire early. It amazes me that so many of our friends think they can manage their retirement savings portfolio on their own.
Thanks for the love. I’m glad that your portfolio worked out for you and allowed you to retire early, but I am indeed one of those people who would recommend skipping the big bank advisors in lieu of just passively buying index funds via DCA. The truth is that you likely would have even more if you had not paid the high fees charged by the big 5 and the mediocre-at-best funds they push. Very few people actually require a financial advisor, but those who do should seek out a fee-based advisor who they pay per hour for advice rather than paying 1% of their portfolio since this can amount to 5-6 figures over the span of their investing life. Of course, none of this is financial advice 🙃🙃🙃
@@bonniebrown1305, Dollar Cost Average. Practically means that you invest every e.g. month regardless of the price per stock or ETF so in a full year you have bought in down's and up's of the market.....
I use a credit card to pay for everything. Pay of the total every month and recieve a few hundred dollars every year in reward money from 1-5 % depending on purchases. I also have a military reserve pension union penision and socisl security. My grandson picks up scrap metal recycles it and buys gold.
I have a regular job and yes, it's not a secure feeling at all!!! I'm constantly looking for what other options I may be able to look into.....yeah. I love your videos Nicole.
LOVED THIS VIDEO!!! I'm so glad I've found your channel (and a kindred spirit haha)! LIke you, I'm also self-employed and am working hard to build up multiple streams of income. I totally get what you said about the constant anxiety that you get when you're self-employed - it's definitely the same for me. In fact, it got so bad that I recently started a part-time (thankfully WFH remote) job that supplements my freelance income and gives me some stability. I also self-published a book on KDP back in 2021, which is now generating a small income every month, for which I'm super grateful. I started my own YT channel last year as a "marketing tool" for my KDP business, I suppose, but I've discovered a real passion for it and I love how it enables me to interact with people I would never otherwise have met in my life. Maybe my channel will, one day, lead to another source of income, but for now I'm just super grateful that people are watching my content and getting value from it. I really love your content so much - keep it up!! xxx
Your thoughts are spot on. I am retired now, but when I was working, I had a full-time job and three other sources of additional income. Two of those required my physical presence on weekday evenings or weekends. One was passive. Having side income(s) gives one a feeling of accomplishment along with reducing financial worries should one lose his or her primary job. You are also correct about a stream drying up. In the 1990's, I did a huge amount of Microsoft Office software training (Excel, Word, etc.) at five or so locations. At one point, people were turned away from classes as they were full. Over time, less expensive internet training became available, local libraries offered the courses for free and Senior Centers offered the courses free as well. That stream completely dried up and I no longer can make money doing that.
I find bartering is helpful and not in the usual sense. (although I do that too). I can barter something I love to do, like redecorate homes and the homeowner will give me a gift card or some items (chairs, etc) that I can flip. I have been self employed for 40 years. When there are lean years, it's amazing how much one can cut back on spending.
Hustler is as old as the hills. It has both negative and positive connotations. It’s not a “internet “ new term. I’d love to know how much your housing cost are in comparison to ours here in the lower 48🇺🇸. (USA).
Another great video Nicole. You are one of my favorite youtubers....I am so glad I found your channel because you seem authentic and I love how you tell it like it is. I joined when you had 4k subs....It's fun to watch your channel grow so quickly :) Dog lover here too and my Benji (in profile pic) says say hi (bark) to your Levi 🐕🐶
I agree with what you are saying. I always make sure I have money coming in from 4 different sources. That’s what I’m comfortable with. Thanks for sharing this with us.
I’ve several income streams too, not by design mostly desperation. But they all have something in common, I’m using my personality in front of a group. Sometimes are really busy but mostly I’m not and I have plenty of free time.
I love how your approach works for even the smallest income levels and your personal is so inspiring! I’m working on FIRE and love how positive your videos are.
I own a vegan housekeeping business and I have to hustle everyday to get clients. When we have a slow week I stress out so badly even though I know some weeks are crazy and some are slow.
@@nicoleavery7238 Everything we use is non toxic, eco friendly and not tested on animals! I absolutely love what I do and especially that I get to incorporate my lifestyle into my cleaning services. We also choose a local rescue every month and for every new client we get we donate $20 towards the rescue. It makes me really proud to hit that donate button at the end of the month to help the doggies.
I've made about 6K extra reselling stuff. It's FUN and I have a very large inventory or items that I sell a portion of every day for the last 5 months or so. I casually add to it on the weekends to make up for the things I sold out. Keep about 500 things for sale on a constant basis in my ebay store at all times. I do crypto investing and have done very well with that as well. I made 30k in 2020 and put all that back into the crypto market when everything went down 90+%. Teh return on that move will me HUGE to where I can take that money and pay cash for a property to move into. This move will free up about a thousand a month in living cost (rent) . Making moves!! Thanks for the video. It is motivating!!
I supported myself for 20 years independently like you, and I knew someday it would end, but I had in my mind how I wanted to live and everything manifested!
If I don't count child support, I have 2 streams of income, my day to day full time job and rental income from owning a 2 family house. I live in one side and rent out the other. I am looking into income generation for this summer because my job is 10 months a year but not in the summer.
I work two part time jobs, husband works a full time and a part time job and occasionally works in construction with his brother in law, he has a retirement investment account through his employer, and we both have high yield savings accounts.
This advice is all extremely solid and once again Nicole has hit a nail squarely on its head and driven home. Kudos to Nicole for delivering essential advice for better living. Best of luck to those who put it to work.
I do wedding photography I teach Salsa dance classes I get revenue as a blogger I get money from stock market investments And this one is weird, I am a professional wedding witness (People hire me to witness their weddings).
Hi Nicole it's very interesting to hear you mention bank interest as one stream of income. In my country bank interest rate is very low below 1%. I only have a regular job and I really need at least 1 more stream of income because have my savings in the bank but like I said interest rate is nothing and that's how it has always been. I also have a little investment but to be more comfortable I do need another reliable stream.Loving your videos...keep doing what you are doing💜
I've been a Rural Mail Carrier with USPS for 11 years and they've slowly made it increasingly more difficult to enjoy the job & feel valued. They've been messing with how our routes are evaluated and therefore how much money we make (think salaried with weird union rules). Anyhow, it's otherwise a very stable income. But the hours are long and there's a lot out of our control. I'm a "regular carrier" (meaning i have my own route). When you first start you're a "sub" and that is much more stressful and irregular in hours/pay.
Hi Nicole I just subscribed recently to your channel and yes it would be interesting to hear about how UA-cam pays you and the details of that. You have the perfect background of your clean nicely decorated house I’d like to say, it’s perfect for your channel. My father grew up extremely moderately and taught me all of this. Your ideas are wonderful and you are an excellent role model for so many young people and the like. You’ve given me a few tip so thank you for that. Thank you for putting this out there.
Hey! Little tip to get more retention on your viewership, you can use timestamp labels for sections of your videos. Go to youtube studio, go to content, select your video and in the Description, add a list of timestamps and titles. :)
Buy Canadian bank stocks. Self manage. DONT use a broker or buy into mutual or even ETFs. Take all dividends and roll over to buy more stocks. It’s not fancy but extremely effective long term fairly safe strategy.
I would really like to hear the specifics of UA-cam and the income you’re currently generating from it. Also, I love your videos - you are realistic, blunt, no sugar coating the issues. Keep making these great videos - I’m a recent subscriber!
Nicole, you are so smart and so well-spoken and inspiring! I am totally binge watching your videos 😎. Also, I am hitting that like button and diligently watching the ads, to support as I can. Great job and this channel just became one of my favorites!
I know a family of roofers, I was listening to them talk about business one day, and the younger roofer was fretting about getting enough work to keep up with the bills at that particular time. His older brother said; "Don't worry, it seems like there is always something that comes in at the last minute." And sure enough it did, a big building shingle re-roof project a week or two after. On the issue of hustling, no, "go-getter" is probably a better word.
The last income stream Nicole mentions is having your money in a high interest account. It's definitely worth doing but the grim reality is is that the interest you make is only offsetting in part the diminishing value of your savings being devoured by inflation, running at a higher rate. Still, better than leaving your cash in a low or no interest account, though.
Whoah! I used to have exactly all the same five income streams as you: a day job, selling stuff on eBay and craigslist, UA-cam AdSense revenue, investment income, and bank account interest. However, many years ago UA-cam demonetized my channel, and I never bothered to reapply for that. Sometimes I wish I did have the UA-cam revenue back. I'm sure it would have been a fair amount of money, especially because I now have more than 11 million video views. But I don't own the copyrights on many of my videos, so I wouldn't be able to maximize the monetization anyway. The thing that bugs me the most about YT demonetizing my channel is that a few years ago, they started putting ads on everybody's videos whether your channel is monetized or not. So, now they are making money off me and I am not sharing in that revenue at all.
I have 1 job n it pays all my bills n I get to be at home more to just work out n relax n live comfortably without killing myself at a job all the time
I’m 36, have a job repairing watches for my uncle, I have my own office repairing watches for side jobs and film it for my UA-cam channel. Another side job I have is flyer canvasing for a real estate agency. Also have a few stock and crypto. Going from full time employee to having multiple income streams happed to me more so out of necessity for money and mental health with taking some control over my time.
After getting permanently laid off from my last full-time job I realized that my employment was based on my bosses bad decisions. As a self employed person I've also had the same thoughts, but then I realized that, I can pivot faster , maintain better client relations, makes changes, become leaner then any company could.
We only have one income source - working; We also have investments, but they dont pay dividends. But we are VERY diligent at funding our emergency fund so that we can sleep at night. Im also very good at saving money and budgeting so that helps immensely and is another way that we know (if we had to) we could cut everything down A LOT monthly to make it to our next income source. It also helps that we are only 5 - 7 years from retirement. Its easier seeing the finish line, to rest easily, as well.
I only have one income but it pays very well so I'm comfortable. I try to find ways to be frugal and minimal anyway. One thing that people on youtube eventually do is to sell merch. Youd be amazed at how many people that would buy stuff with adorable Levi on it.
Great advice . You could look a rental business also for your musical instruments . Great for school kids who learn for a year only and they pay for any damages also . Always invoice your clients monthly .
So, high yield savings accounts aren't much an income stream because a lot of the time, they don't keep up with inflation, which averages about 3% over the last 100 years. Even if you see an extra $200 in your account after a year, you've still lost value (or if you're lucky, have kept pace with inflation so you haven't lost value, or made a tiny, tiny profit.) So, for most people's purposes, HYS accounts are basically pots to pull money from when they need it. Stocks are more volatile, but they average about an 8% rate of return historically, so if you want your money to work for you long-term, they're superior.
this is so true, let go 5 times in ten years in Insurance, never getting the necessary senority, then eventually a secure union job with a top canadian company for over 10 years, and now covid has thrown even the best companies in financial stress.
Iv been self employed since 1987, I repair small engines, I don't think their going away any time soon. There's all ways ups and downs of every business or being self employed. Just stick with it, and DON'T WORRY. It's not worth it. If it's worked this long it will keep on working. I try not to worry, I spend a lot of time THINKING My next move if not I take a Nap.
I've been thinking about side hustles a lot but the thing that always stops me is the filing taxes for them. Could you do a video about that? What forms, when do you file them, is there an amount limit before you file them?
Its easier than you think. If you make less than 30K don't need to worry about GST and PST stuff for the business. Most of the tax programs allow you just add whatever you earned and add the expenses also and netfile all the paper work.
The only time I ever succumbed to the sob story when selling something was a mom who wanted some of my Platy fry for her daughter - there was more to the story and I don't know if it was true, but I really needed to get rid of the fish for the health of my tank and the animal lover kid was adorable. And animals are different than a drum set. I felt good sending them to someone who was actually going to take care of them. I've sold musical instruments before and the moms who were appalled that I wouldn't sell a vintage wooden high end clarinet for the price of a plastic starter were too much.
I only have one stream of income and one big client, the level of work I do for them doesn’t leave much time for anything else, but it worries me a-lot. I am interested in readying everyone comments to learn other ideas :-).
I am self employed and yes I do worry but I also have a small part time job for security and tax reasons I also am trying to do more house calls for housebound people by trade I’m a hairdresser , mostly Custom coloring
Great video Nicole! I have one job. Work as a bookkeeper, from home. I love it and I'm paid well and appreciated. My husband is retired and receives a great pension. Life is good!! I always love your good advice. Many thanks.
I have a day job, some crypto, a brokerage account, I sell stuff on Facebook marketplace and earn gift cards and rewards. Of these, there are potentially 3 sources, I just need to carve out more time to study all my notes for the trading and investment and generate at least $1000 a month for starters before I can say that. I also have plans to get moving with software/web development, and get my music and photography copyrighted and then I can start really counting my streams of income. So, technically only one because I've never produced $1000 a month or more on anything else. And I do need a career change.
I have several streams of income like you also, I work for myself also and make my own schedule etc, the other streams are I'm a artist and been selling my art on line for the past 9 years, my arts printed on home decor, wallpaper, and fabric, which gives me a good range of customers but not enough income to live off it even though I have tons of art listed. I'm also a product reviewer for a well known big company, so after I review products if I don't want to keep them, I sell them as New~Open box on fb marketplace, I also been listing things in my house no longer want or need and the de cluttering is very freeing! I invest monthly in s & p 500 stock, so that's another stream of passive income, that I'm not touching but saving for retirement. Also have a emergency savings account earning back good interest.
Your life is inspiring , if you feel comfortable sharing about your UA-cam experience, it will be interesting, but don’t share too much! I believe in privacy!
Amazing! It was about 25 or so years ago I decided to establish five streams of income. At least one big source for paying the rent and bills. Another fairly big, maybe lesser like 1/2 or 1/4 as much. The others can be small, but quickly growable. Maybe one can be small and doesn't grow much, but reliable and passive - covers costs of fancy coffee! But in real life I still haven't got it past three during good times. Gotta work on that!
Loved hearing about your various income streams, thank you! I've sold on eBay off and on for years as an additional income stream and am looking to find others. I had to laugh at the story of the person who was trying to get the drum set for less. Can't tell you how many times that has happened to me & other sellers. It always involves some form of sob story in the hope that you'll give them the item for much less than it's worth (or even free).
Hi Nicole 🤗 Your videos always make me smile. Thanks for that! I would say I have 3 streams of income - my main full-time job and investments and bank account interest. Once I'm retired (soon!!) then I will have my work pension, CPP and OAS and investments - I would consider all of these passive income streams since I paid into them and now they will generate monthly income. I like the idea of buying and reselling for a profit. Maybe I will do this with cycling stuff. Would enjoy seeing a video on YT income if you want to do that.
I have a few. I have a wfh job which I enjoy. I save 2.5h in commute which means I'm relaxed and feel I should devote this time to my own projects and skills because I still feel energized for that time (old habit from commuting to work and considering it work time). So I have a side hustle business that makes a few hundred bucks that i work on form 1hr or 2 daily. I enjoy working on it and I started it when I was depressed after getting let go from an old job (good riddance as they were abusive). It's like therapy and the money is a side benefit. I'm hoping to grow it this year. I also have investment income, retirement account rrsp for old age income too lol. And savings account for emergency fund that also earns small income. So im a lot like you! :)
I do not actually consider my money in the bank earning interest, a source of income because, the inflation is usually higher than what I can get from the bank. I do not deny that, compound interest is a great thing but, in my country the economy is unpredictable and the inflation is extremely high.
Absolutely I would love to hear more about your UA-cam channel. I love watching your videos and hearing what you have to say. It would be nice to have a friend like you IRL, but as a dedicated introvert I barely leave the house these days (and am OK with that, most of the time). Keep on posting!
Hi Nicole and of course Levi. I’m from the UK so see a lot of Levi lookalikes 😂 A lady 3 doors down from me has 3, so cute. I recently found you ( definitely have not binged watched your vids over the last week 😂) when I started my minimalist lifestyle, honestly the best thing I’ve ever done in a long time. Anyway I have 4 streams of income including flipping on Marketplace and at carboots (I go to 3 every Sunday, buy from the first two and then sell it all at the third 😁) Sorry for the long post but just to let you know that your vids are so inspiring and funny, fab sense of humour. Levi is obviously the star of the videos though 😂🧡
Dont worry too much, anyones job can be gone, downsized, moved out of state etc. Even a long term employee can be canned. If you are self employed good service , value for the money and, likeability , yes if you are liked can really help. .. enjoy the vids!!
Well done for having the courage to go your own way and try new things. Most of us just take a job for a company and do what they tell us for our entire lives. Some like me will figure out our finances and eventually retire. Others never will.
1. day job
2. flipping items
3. UA-cam
4. stock investments
5. high yield savings interest
thanks
6. Don’t have kids are parasitic relationships
Yet in another videos she completely eviscerates hustles. HA!
12:28 "Passive income is a thing but it's not accessible until you actually make active income first" you are so succinct, this was so accurate!
As someone who spends like a drunken sailor and has no pot to piss in, I’m bingeing on your videos because they’re timely. Would love for you to do a video on the steps of starting a business - from your perspective, how you did it, and what you did.
I've been self-employed for 31 yrs.....yes, I worry all the time. Over the years my main customers have been slowly bought out by big companies and they don't need my services. At my age (59) it is very scary to totally change my entire business.
I love how candid you are and don't change
people who have been self-employed (and survived) easily find a new job at a company
About the instrument flipping, that’s what the Circle Jerks did when they toured in the 80s/90s. They’d see instruments in pawn shops costing a lot less in some parts of the country than others. So they’d buy them in the cheap areas and resell them in the higher areas
I have to say I've watched UA-cam videos for a long time. First for game stuff, then for entertainment, but now I watch to better my life. As a late bloomer in my mid to late 40s, your no nonsense advice has given me a fresh perspective, so thank you for that. I appreciate the no bullshit approach. Thank you.
I have several streams of income and have most of my working life (I started working at age 13; I think now you have to be 15 in order to get a worker's permit but when I was younger, the minimum age was 13).
1. My 9-to-5 job (I really enjoy the work I do and my co-workers are wonderful.) Full-time
2. Reselling business (Poshmark & Ebay)
3. Cleaning a leasing office 3x a week
4. My own business on Etsy selling crocheted and knitted creations
5. Part time job working as an administrative assistant for an interpreting company part time (~15-20 hours a week)
That's a lot of work! Kudos to your discipline, resourcefulness, persistence, and energy!
I have been flipping all my life. I enjoy it. I'm 68 and started at 16. My mistake was marrying a person that did not care about me. 47 years faithful and loyal did not mean a thing to her. I NEVER GOT MAD JUST WORKED UNTIL FINALLY I HAD ENOUGH.
I got kicked to the curb after 47 years. Weird ain’t it?
Happened to me after 27 years. Don’t regret it but a different decision would have been soo much better
it’s OK TO BE MAD ?
I’m glad that you sound as though you made it through alright. My 6 years of dealing with the exact same type of person before ending it is nothing comparatively .
I live in Toronto too and I also have multiple ways of getting some of my money: job, selling old items (also flipping), bank interest and investment, take advantage of cashback from credit cards (I make sure i maximize my cashback and I use different cards depending on what I buy), invest in housing (I am a landlord) and I let someone pay for my mortgage. I came from a poor family so I started finding ways to help myself when i moved provinces at 21 years old. I think living a frugal life does really help a lot!
You make your own luck Nicole. You need not worry. You are too conscientious, motivated and smart to end up with nothing. It is natural for you to think out of the box, I can see that. You are strong, pragmatic, sensible, lev-headed and brave - and look where it has gotten you. Flipping fabulous! Keep going as you do and never give up as you appear not to do either.
🎉
People can make some of their own luck, but then others can help, too, with or without your solicitation. And circumstances, too, some of which fall into your lap. There's is "luck" beyond your control. And misfortune. Nicole is doing the right things to give herself the best odds, but anyone can be knee-capped and toppled by life. I've seen it first-hand. The financial crash, for example, took down many people on the verge on retirement; then they had to work the rest of the lives.
Nevertheless, her advice is solid and well-advised, once again.
I am twice your age and have owned my own business for 20+ years, and I STILL worry about the future. Yeah, that never goes away. In handsight, while I've had slow months and even an entire year (thanks a lot, Covid), the worries have been mostly unfounded.
I like that your ideas & advice are more realistic & accessible than other financial channels I've watched. I've seen so many videos where they'll be like 'buy real estate, then rent it out & use that to pay the mortgage, & then use the extra & invest in xyz stocks that pay x in dividends, then use that to start a business...',etc. And it's not that it's bad advice, just not the most realistic plan for a lot of people.
Oh for sure. In Toronto that’s impossible unless you’re already a millionaire.
Thanks for sharing Nicole! I am 'just' an employee, but you have to realize, conditions in Europe (Belgium) are way different than those in the USA (where I think you live). I got fired this year, yes, but the company had to keep me paying for half a year (depending on how long you were working there - for me: over 8 years). I found a new job in 2 months, so I was litterally payed double salary for 4 months 💰. (Of course next year, tax authorities will demand their share of it 😅) I also have an insurance from my employer, if I would get disabled and become 100% unable to do any job, I will get paid my current (decent) salary for the rest of my 'working' career (i.e. before retirement). That's rather assuring. There are even other advantages on top of that.
Other streams of income for me: stock/shares (currently losing money with it due to the economical conditions, but that means this is the elected time to buy even more stock) and also interest of bank accounts (which is only like a dozen euros or so per year under current conditions in Europe). No UA-cam (yet?), no flipping. Second after my job as an employee, I spend most of my time volunteering. That doesn't help me on financial level, but rather on social level, if you know what I mean (e.g. the people I know from volunteering, might help me if I get into some kind of trouble due to sickness or whatever).
I wish you good luck on creating extra streams of income over the next years 🙂.
You are such a refreshing presence and model: you share actual info and don’t have a pound of make up on your face, among other things I like about you…
i am definitely "your people".. tho i am much older, my life and living philosophy has mirrored yours- (i even lived in your city for a few years back in the 90's).. if i may, some advice, if you want to guarantee future income, concentrate on number 4- but yes, first you need to earn actively before earning passively, and the one way to guarantee that is to stay where you are..a place like Toronto will never run dry of ways to make active income, if it did, that would mean everything's gone to shit and it wouldnt matter anyhow.. when you are able to live anywhere you wish, without money worries, that is when you've made it- according to our philosophy..
love your vids..
thanks Nicole
I'm currently a full-time, stay-at-home mum, to a 7yr old with autism. I don't have a consistent stream of income, but I'm always interested in trying out new ideas. So far, the list has included: POD - Redbubble, Zazzle, Spreadshirt etc - all shite imo!
Trading gold online - kind of fun and would do again, funds permitting
Etsy - selling handmade items related to my hobbies (quilting, doll collecting), but quick burnout
Amazon MTurk - horrible pay if you can even call it pay
Amazon KDP - maybe some get lucky with it, I didn't
Ebay + Vinted - so far are the winners for me. Since September 2023, I've made over £400 on Vinted, and just under £500 on ebay in the last 3 months. That was largely due to my selling my own stuff, and the dolls I used to collect were not cheap. Even broken tech sells easily there.
Currently binge-watching your episodes (from London), and appreciate the no bs, straight delivery! ✊❤
Kudos to you, Nicole, for recognizing when one approach to something is not working. And then more kudos for actually taking action to find a different way to do it. The French author, Antoine decSaint-Exupéry, is reputed to have said, “a goal without a plan is just a wish.” I would add that a plan without action is just a fantasy.
These kind of videos were the reason why I started to follow your channel. I don't have a side income at the moment but I'm trying to create one.
As for me my main source is full time law enforcement, with a pension from Pryor law enforcement career that I retired from in 2005, receiving pension currently, getting ready to retire for a second time from new department not putting in as much time but walking away with a nice pension for life with a nice lump sum payment as well. We also have rental properties 4 family house that we are rehabbing now soon to sell. Fidelity investments and deferred compensation investments offered as a state worker. We only have a few years till we pull the plug. So I beginning my you tube channel as we speak, I’m getting my ducks in a row and I’m hoping to blow up on this UA-cam platform. I love your candid and honest delivery of your life and experiences. I wish you continued success!!!
I totally agree! Even though I've been self employed for the past 8 years, there is always this fear in my mind: "what if people stop requesting my services?" It's wonderful to have the freedom that self employment gives me but it's certainly stressful at times, when the income is not as consistent. 😓
I am self employed and I almost always have enough clients to get by financially but sometimes it does get scary when you get less than usual so I am right there with you.
For streams of income, I work part time, my husband works full time and I just started flipping on the side. We have 2 toddlers, so once they're a bit older and in school, I'll be either working more or ramping up the flipping. This year, we decided to open a second bank account that's high interest. We're still deciding on which one.
Loved the Mr Burns as a boss thing. I suffered 24 yrs in a shitty job that paid the bills till I saved enough to quit in 2001. Boss would tell me there's 400 people waiting outside the gate to take your job if you don't like it.
Major brokerage firms like Charles Schwab have MM funds that pay 4.48% in and out in a day if you want to buy stks or need the dough. 3mo t-bills at 4.85% and 6 mo now paying 5.02%.
this g'ma looks forward to your vids every Sunday at 1030, after CBS Sunday morning. the two programs are both informative, entertaining, and well done, they even sequay well! at least for me! thank you for your dedication to offering others a path to tap their own patience for the future with solid advice while obviously walking the walk you talk.
I have been a "hustler" for the most part of my working life just out of necessity. As a musician, I could say that regular, high paying jobs are nearly non existent...so multiple sources of income are always a good thing! :)
In response to your question at 5:06: I was a self employed makeup artist for advertising for 13 years until Covid hit and suddenly my work did indeed dry up as the world went into lock down. When I finally went back to a job after the lockdown, being so close to people in my job I went down with Covid and was so poorly. So it forced me to reconsider what I wanted to do. I then stepped into the world of investing and focusing on my mice and building their UA-cam channel. So you are entirely right, it’s very important to have multiple income streams because you never know! ❤
I have 9 sources of income. I am good at saving but I am not as good as you are! Like you, I groom our Puppy Coco for the same of your reasons, I cook very well, but I love going out to good restaurants! I am 62, and today I see how many things I could have done in the past to make money, but today I want to get up when I want to get up! I wish I had learned how to acquire deep knowledge about investments, or how to double the money! When I was around 25 I was making a lot of money, but I didn’t know what to do with the money, so I used to make and loose it. Your positive approach is great simply because you are wise! Keep rocking!
Yes, I feel that way too. I'm a freelancer and I fear that one day people wouldn't be reaching out to me for work and I'll be left with no source of income.
The majority (85%) of let's say 5 income streams comes from 8-17 daily job.
2nd is a very small rent that I collect once a year.
3rd is investment in T-bills, i still have with high interest but is dropping fast.
4th is stock picking, buy cheaper and then sell with a little bit of profit.
5th stock dividends
My portfolio is being comprised by stocks that give dividends at least 5% yield.
Nice to see a financially savy Canadian woman on a UA-cam channel!!
Lol yeah like the 0.00001% of all Canadian women.
I have a day job that pays me more than enough to live by but i also have a lot of other sources of income. Also, I want to say that I admire your frugality. I can see that you barely have any furniture in your house, not saying it's a bad thing. In fact, it's admirable.
I’ve just subscribed to your channel and I love it! I’ve told my children who are all in their twenties to listen to your advice. I just retired at 54 and it was possible by being frugal all my life. I have had a financial adviser at BMO for thirty years and with that help and guidance has made my husband and I able to retire early. It amazes me that so many of our friends think they can manage their retirement savings portfolio on their own.
Thanks for the love. I’m glad that your portfolio worked out for you and allowed you to retire early, but I am indeed one of those people who would recommend skipping the big bank advisors in lieu of just passively buying index funds via DCA.
The truth is that you likely would have even more if you had not paid the high fees charged by the big 5 and the mediocre-at-best funds they push.
Very few people actually require a financial advisor, but those who do should seek out a fee-based advisor who they pay per hour for advice rather than paying 1% of their portfolio since this can amount to 5-6 figures over the span of their investing life.
Of course, none of this is financial advice 🙃🙃🙃
What is. DCA?
@@bonniebrown1305 dollar cost average
@@AccordingtoNicole I agree with investing it yourself, learn what it is and how it works. Don't let fear rule you. Diversify and long term
@@bonniebrown1305, Dollar Cost Average.
Practically means that you invest every e.g. month regardless of the price per stock or ETF so in a full year you have bought in down's and up's of the market.....
I use a credit card to pay for everything. Pay of the total every month and recieve a few hundred dollars every year in reward money from 1-5 % depending on purchases. I also have a military reserve pension union penision and socisl security.
My grandson picks up scrap metal recycles it and buys gold.
I have a regular job and yes, it's not a secure feeling at all!!! I'm constantly looking for what other options I may be able to look into.....yeah. I love your videos Nicole.
LOVED THIS VIDEO!!! I'm so glad I've found your channel (and a kindred spirit haha)! LIke you, I'm also self-employed and am working hard to build up multiple streams of income. I totally get what you said about the constant anxiety that you get when you're self-employed - it's definitely the same for me. In fact, it got so bad that I recently started a part-time (thankfully WFH remote) job that supplements my freelance income and gives me some stability. I also self-published a book on KDP back in 2021, which is now generating a small income every month, for which I'm super grateful. I started my own YT channel last year as a "marketing tool" for my KDP business, I suppose, but I've discovered a real passion for it and I love how it enables me to interact with people I would never otherwise have met in my life. Maybe my channel will, one day, lead to another source of income, but for now I'm just super grateful that people are watching my content and getting value from it. I really love your content so much - keep it up!! xxx
Your thoughts are spot on. I am retired now, but when I was working, I had a full-time job and three other sources of additional income. Two of those required my physical presence on weekday evenings or weekends. One was passive. Having side income(s) gives one a feeling of accomplishment along with reducing financial worries should one lose his or her primary job. You are also correct about a stream drying up. In the 1990's, I did a huge amount of Microsoft Office software training (Excel, Word, etc.) at five or so locations. At one point, people were turned away from classes as they were full. Over time, less expensive internet training became available, local libraries offered the courses for free and Senior Centers offered the courses free as well. That stream completely dried up and I no longer can make money doing that.
I find bartering is helpful and not in the usual sense. (although I do that too). I can barter something I love to do, like redecorate homes and the homeowner will give me a gift card or some items (chairs, etc) that I can flip. I have been self employed for 40 years. When there are lean years, it's amazing how much one can cut back on spending.
Hustler is as old as the hills. It has both negative and positive connotations. It’s not a “internet “ new term.
I’d love to know how much your housing cost are in comparison to ours here in the lower 48🇺🇸. (USA).
Another great video Nicole. You are one of my favorite youtubers....I am so glad I found your channel because you seem authentic and I love how you tell it like it is. I joined when you had 4k subs....It's fun to watch your channel grow so quickly :) Dog lover here too and my Benji (in profile pic) says say hi (bark) to your Levi 🐕🐶
I agree with what you are saying. I always make sure I have money coming in from 4 different sources. That’s what I’m comfortable with. Thanks for sharing this with us.
I love smart people. They are such a turn on in life!
I’ve several income streams too, not by design mostly desperation. But they all have something in common, I’m using my personality in front of a group. Sometimes are really busy but mostly I’m not and I have plenty of free time.
I love how your approach works for even the smallest income levels and your personal is so inspiring! I’m working on FIRE and love how positive your videos are.
I own a vegan housekeeping business and I have to hustle everyday to get clients. When we have a slow week I stress out so badly even though I know some weeks are crazy and some are slow.
That's so interesting! I'd love to know more about it. Keep going and I'm sure you'll see more growth ☺️
@@nicoleavery7238 Everything we use is non toxic, eco friendly and not tested on animals! I absolutely love what I do and especially that I get to incorporate my lifestyle into my cleaning services. We also choose a local rescue every month and for every new client we get we donate $20 towards the rescue. It makes me really proud to hit that donate button at the end of the month to help the doggies.
@@andreabellini6796 wow really nice 🐕🐈💛
Vegan FTW 🙌🏽 🌱
Nicole , I have watched a few and more of your vids. enjoying the info. esp income , side hustles etc. subbed, smart cookie!
I've made about 6K extra reselling stuff. It's FUN and I have a very large inventory or items that I sell a portion of every day for the last 5 months or so. I casually add to it on the weekends to make up for the things I sold out. Keep about 500 things for sale on a constant basis in my ebay store at all times. I do crypto investing and have done very well with that as well. I made 30k in 2020 and put all that back into the crypto market when everything went down 90+%. Teh return on that move will me HUGE to where I can take that money and pay cash for a property to move into. This move will free up about a thousand a month in living cost (rent) . Making moves!! Thanks for the video. It is motivating!!
I supported myself for 20 years independently like you, and I knew someday it would end, but I had in my mind how I wanted to live and everything manifested!
If I don't count child support, I have 2 streams of income, my day to day full time job and rental income from owning a 2 family house. I live in one side and rent out the other. I am looking into income generation for this summer because my job is 10 months a year but not in the summer.
I work two part time jobs, husband works a full time and a part time job and occasionally works in construction with his brother in law, he has a retirement investment account through his employer, and we both have high yield savings accounts.
This advice is all extremely solid and once again Nicole has hit a nail squarely on its head and driven home.
Kudos to Nicole for delivering essential advice for better living. Best of luck to those who put it to work.
I do wedding photography
I teach Salsa dance classes
I get revenue as a blogger
I get money from stock market investments
And this one is weird, I am a professional wedding witness (People hire me to witness their weddings).
After paying attention to your videos and seeing why you do the things you do, you can be summed up in three words...High-Value Woman.
Hi Nicole it's very interesting to hear you mention bank interest as one stream of income. In my country bank interest rate is very low below 1%. I only have a regular job and I really need at least 1 more stream of income because have my savings in the bank but like I said interest rate is nothing and that's how it has always been. I also have a little investment but to be more comfortable I do need another reliable stream.Loving your videos...keep doing what you are doing💜
I've been a Rural Mail Carrier with USPS for 11 years and they've slowly made it increasingly more difficult to enjoy the job & feel valued. They've been messing with how our routes are evaluated and therefore how much money we make (think salaried with weird union rules). Anyhow, it's otherwise a very stable income. But the hours are long and there's a lot out of our control. I'm a "regular carrier" (meaning i have my own route). When you first start you're a "sub" and that is much more stressful and irregular in hours/pay.
Hi Nicole I just subscribed recently to your channel and yes it would be interesting to hear about how UA-cam pays you and the details of that. You have the perfect background of your clean nicely decorated house I’d like to say, it’s perfect for your channel. My father grew up extremely moderately and taught me all of this. Your ideas are wonderful and you are an excellent role model for so many young people and the like. You’ve given me a few tip so thank you for that. Thank you for putting this out there.
Hey! Little tip to get more retention on your viewership, you can use timestamp labels for sections of your videos. Go to youtube studio, go to content, select your video and in the Description, add a list of timestamps and titles. :)
Buy Canadian bank stocks. Self manage. DONT use a broker or buy into mutual or even ETFs. Take all dividends and roll over to buy more stocks. It’s not fancy but extremely effective long term fairly safe strategy.
I would really like to hear the specifics of UA-cam and the income you’re currently generating from it. Also, I love your videos - you are realistic, blunt, no sugar coating the issues. Keep making these great videos - I’m a recent subscriber!
Coming soon!
Why?😂
I think she's obnoxious as hell
Nicole, you are so smart and so well-spoken and inspiring! I am totally binge watching your videos 😎. Also, I am hitting that like button and diligently watching the ads, to support as I can. Great job and this channel just became one of my favorites!
I know a family of roofers, I was listening to them talk about business one day, and the younger roofer was fretting about getting enough work to keep up with the bills at that particular time. His older brother said; "Don't worry, it seems like there is always something that comes in at the last minute." And sure enough it did, a big building shingle re-roof project a week or two after. On the issue of hustling, no, "go-getter" is probably a better word.
The last income stream Nicole mentions is having your money in a high interest account. It's definitely worth doing but the grim reality is is that the interest you make is only offsetting in part the diminishing value of your savings being devoured by inflation, running at a higher rate. Still, better than leaving your cash in a low or no interest account, though.
Whoah! I used to have exactly all the same five income streams as you: a day job, selling stuff on eBay and craigslist, UA-cam AdSense revenue, investment income, and bank account interest. However, many years ago UA-cam demonetized my channel, and I never bothered to reapply for that.
Sometimes I wish I did have the UA-cam revenue back. I'm sure it would have been a fair amount of money, especially because I now have more than 11 million video views. But I don't own the copyrights on many of my videos, so I wouldn't be able to maximize the monetization anyway.
The thing that bugs me the most about YT demonetizing my channel is that a few years ago, they started putting ads on everybody's videos whether your channel is monetized or not. So, now they are making money off me and I am not sharing in that revenue at all.
I have 1 job n it pays all my bills n I get to be at home more to just work out n relax n live comfortably without killing myself at a job all the time
I’m 36, have a job repairing watches for my uncle, I have my own office repairing watches for side jobs and film it for my UA-cam channel. Another side job I have is flyer canvasing for a real estate agency. Also have a few stock and crypto. Going from full time employee to having multiple income streams happed to me more so out of necessity for money and mental health with taking some control over my time.
I would love to understand how UA-cam monetizing works. Thank you for your videos.
Stay tuned!
You need 1000 subscribers and 4000 hours of watch time or yt shorts 0 views then you can apply to the partners program
I love how authentic you are - happy I found your channel!
Your community’s comments are impressive: quantity & quality.
Congratulations on your continued success!
After getting permanently laid off from my last full-time job I realized that my employment was based on my bosses bad decisions. As a self employed person I've also had the same thoughts, but then I realized that, I can pivot faster , maintain better client relations, makes changes, become leaner then any company could.
We only have one income source - working; We also have investments, but they dont pay dividends. But we are VERY diligent at funding our emergency fund so that we can sleep at night. Im also very good at saving money and budgeting so that helps immensely and is another way that we know (if we had to) we could cut everything down A LOT monthly to make it to our next income source. It also helps that we are only 5 - 7 years from retirement. Its easier seeing the finish line, to rest easily, as well.
I only have one income but it pays very well so I'm comfortable. I try to find ways to be frugal and minimal anyway. One thing that people on youtube eventually do is to sell merch. Youd be amazed at how many people that would buy stuff with adorable Levi on it.
Great advice . You could look a rental business also for your musical instruments . Great for school kids who learn for a year only and they pay for any damages also . Always invoice your clients monthly .
So, high yield savings accounts aren't much an income stream because a lot of the time, they don't keep up with inflation, which averages about 3% over the last 100 years. Even if you see an extra $200 in your account after a year, you've still lost value (or if you're lucky, have kept pace with inflation so you haven't lost value, or made a tiny, tiny profit.) So, for most people's purposes, HYS accounts are basically pots to pull money from when they need it. Stocks are more volatile, but they average about an 8% rate of return historically, so if you want your money to work for you long-term, they're superior.
this is so true, let go 5 times in ten years in Insurance, never getting the necessary senority, then eventually a secure union job with a top canadian company for over 10 years, and now covid has thrown even the best companies in financial stress.
Iv been self employed since 1987, I repair small engines, I don't think their going away any time soon. There's all ways ups and downs of every business or being self employed. Just stick with it, and DON'T WORRY. It's not worth it. If it's worked this long it will keep on working. I try not to worry, I spend a lot of time THINKING My next move if not I take a Nap.
I've been thinking about side hustles a lot but the thing that always stops me is the filing taxes for them. Could you do a video about that? What forms, when do you file them, is there an amount limit before you file them?
Its easier than you think. If you make less than 30K don't need to worry about GST and PST stuff for the business. Most of the tax programs allow you just add whatever you earned and add the expenses also and netfile all the paper work.
You get a 1099 from the companies you work for to send to the irs.
@@victorbaird8220 Do I file once a year in the same form as I would my day job taxes?
Yes once a year in April like normal taxes.
The only time I ever succumbed to the sob story when selling something was a mom who wanted some of my Platy fry for her daughter - there was more to the story and I don't know if it was true, but I really needed to get rid of the fish for the health of my tank and the animal lover kid was adorable. And animals are different than a drum set. I felt good sending them to someone who was actually going to take care of them. I've sold musical instruments before and the moms who were appalled that I wouldn't sell a vintage wooden high end clarinet for the price of a plastic starter were too much.
I only have one stream of income and one big client, the level of work I do for them doesn’t leave much time for anything else, but it worries me a-lot. I am interested in readying everyone comments to learn other ideas :-).
3 Streams: CPP, OAS and Passive Investments (Bonds, Stocks and Reits)
I am self employed and yes I do worry but I also have a small part time job for security and tax reasons I also am trying to do more house calls for housebound people by trade I’m a hairdresser , mostly Custom coloring
Great video Nicole! I have one job. Work as a bookkeeper, from home. I love it and I'm paid well and appreciated. My husband is retired and receives a great pension. Life is good!! I always love your good advice. Many thanks.
What kind of degree do you need for a job like that? Sounds interesting. 😊
@@becuteformeI also would like to know, thanks
I have a day job, some crypto, a brokerage account, I sell stuff on Facebook marketplace and earn gift cards and rewards. Of these, there are potentially 3 sources, I just need to carve out more time to study all my notes for the trading and investment and generate at least $1000 a month for starters before I can say that. I also have plans to get moving with software/web development, and get my music and photography copyrighted and then I can start really counting my streams of income. So, technically only one because I've never produced $1000 a month or more on anything else. And I do need a career change.
Yes, I most definitely would like to hear more about your UA-cam income stream.
I have several streams of income like you also, I work for myself also and make my own schedule etc, the other streams are I'm a artist and been selling my art on line for the past 9 years, my arts printed on home decor, wallpaper, and fabric, which gives me a good range of customers but not enough income to live off it even though I have tons of art listed. I'm also a product reviewer for a well known big company, so after I review products if I don't want to keep them, I sell them as New~Open box on fb marketplace, I also been listing things in my house no longer want or need and the de cluttering is very freeing! I invest monthly in s & p 500 stock, so that's another stream of passive income, that I'm not touching but saving for retirement. Also have a emergency savings account earning back good interest.
Your life is inspiring , if you feel comfortable sharing about your UA-cam experience, it will be interesting, but don’t share too much! I believe in privacy!
Amazing! It was about 25 or so years ago I decided to establish five streams of income. At least one big source for paying the rent and bills. Another fairly big, maybe lesser like 1/2 or 1/4 as much. The others can be small, but quickly growable. Maybe one can be small and doesn't grow much, but reliable and passive - covers costs of fancy coffee! But in real life I still haven't got it past three during good times. Gotta work on that!
Loved hearing about your various income streams, thank you! I've sold on eBay off and on for years as an additional income stream and am looking to find others. I had to laugh at the story of the person who was trying to get the drum set for less. Can't tell you how many times that has happened to me & other sellers. It always involves some form of sob story in the hope that you'll give them the item for much less than it's worth (or even free).
I'm from Toronto and really enjoy the channel. Keep up the good work!
Hi Nicole 🤗 Your videos always make me smile. Thanks for that! I would say I have 3 streams of income - my main full-time job and investments and bank account interest. Once I'm retired (soon!!) then I will have my work pension, CPP and OAS and investments - I would consider all of these passive income streams since I paid into them and now they will generate monthly income. I like the idea of buying and reselling for a profit. Maybe I will do this with cycling stuff. Would enjoy seeing a video on YT income if you want to do that.
I have a few. I have a wfh job which I enjoy. I save 2.5h in commute which means I'm relaxed and feel I should devote this time to my own projects and skills because I still feel energized for that time (old habit from commuting to work and considering it work time). So I have a side hustle business that makes a few hundred bucks that i work on form 1hr or 2 daily. I enjoy working on it and I started it when I was depressed after getting let go from an old job (good riddance as they were abusive). It's like therapy and the money is a side benefit. I'm hoping to grow it this year. I also have investment income, retirement account rrsp for old age income too lol. And savings account for emergency fund that also earns small income. So im a lot like you! :)
I do not actually consider my money in the bank earning interest, a source of income because, the inflation is usually higher than what I can get from the bank. I do not deny that, compound interest is a great thing but, in my country the economy is unpredictable and the inflation is extremely high.
Absolutely I would love to hear more about your UA-cam channel. I love watching your videos and hearing what you have to say. It would be nice to have a friend like you IRL, but as a dedicated introvert I barely leave the house these days (and am OK with that, most of the time). Keep on posting!
I dig your channel, thank you.
At the 2 minute mark: Busybody should be replaced with workaholic. (A busybody is a nosy gossip.)
Hi Nicole and of course Levi. I’m from the UK so see a lot of Levi lookalikes 😂 A lady 3 doors down from me has 3, so cute. I recently found you ( definitely have not binged watched your vids over the last week 😂) when I started my minimalist lifestyle, honestly the best thing I’ve ever done in a long time. Anyway I have 4 streams of income including flipping on Marketplace and at carboots (I go to 3 every Sunday, buy from the first two and then sell it all at the third 😁) Sorry for the long post but just to let you know that your vids are so inspiring and funny, fab sense of humour. Levi is obviously the star of the videos though 😂🧡
Levi is the star of everything I’ve ever done and I wouldn’t have it any other way.
I'm glad I found your channel. This is the content I love to watch and what I want to make!
Dont worry too much, anyones job can be gone, downsized, moved out of state etc. Even a long term employee can be canned. If you are self employed good service , value for the money and, likeability , yes if you are liked can really help. .. enjoy the vids!!
Wow! Great video. I’m currently looking for side hustle jobs! I’m also getting back into minimalism. Great channel ❤
Well done for having the courage to go your own way and try new things. Most of us just take a job for a company and do what they tell us for our entire lives. Some like me will figure out our finances and eventually retire. Others never will.
Yes make a monetized youtube video. thank you.
Thanks for the video. Where do you post your items for sale [flipping]?