The following is a post from staff writer Crystal Stemberger at Budgeting in the Fun Stuff.  She writes about saving, spending, and budgeting in the fun stuff in between with income solely from self-employment.

86c3d5f31d444be8a2705aefcac36a80 (1)When I took the leap into self-employment, I had my worries.  I worried that I would stop making money from my online business and be stuck up the creek without a paddle.  I worried about finding other ways to receive our payments if someone didn’t have Paypal.  I even worried about how I would find health insurance.

Income Diversification

The first thing I realized when my husband started working at home with me was that we are not comfortable living on a single source of income.  Especially since online blog advertising is a roller-coaster month-to-month.  So we diversify.  We have multiple streams of income like most small business owners.

Online, we have the blog ad business, I have written and sell two eBooks, I freelance as a blog manager, and I answer application reviews for others.  In the “real world”, my husband is a varsity and sub-varsity sports official.  I am a professional pet sitter.  We also paid off our first home, which is now our rental property.  And we rent out a spare bedroom of our current home to friends.  Altogether we have four main income streams that all combine to keep us going.

Payment Methods

Most of our online work is paid through online banks, but what if you are selling an actual product?  You may want to look into bar codes since they are generally affordable and effective.  Products with bar codes can be easily tracked with scanning and printing with systems such as Shopify.

For us, our online income is generally managed through Paypal.  The rest of our money comes in through cash, checks, virtual payment options through brick and mortar banks, and programs like Square for credit card scanning.


Health insurance and life insurance was a major worry until an online buddy mentioned sites like Esurance.  We put in our info, browsed a bunch of options, and chose ones that work for us.  We pay less for health insurance now than we did through my husband’s job as a public school teacher.

A solid daily work schedule along with lots of backup plans helps me worry less.  My adventures in self-employment haven’t led to a completely stable income stream, but our multiple streams always bring in enough to cover our bills and at least put a little away for the future.  The key is to stay realistic and tackle new ideas as they pop into your head.

What are your self-employment worries?

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