I live in Michigan where many people derive their income from the auto industry. A downturn in that industry can affect masses of people in various industries because their critical source-point is the auto industry. In fact, before I got laid off from IBM last year, Ford was their biggest client here in Michigan. As Ford started making drastic cuts, so did IBM and many other IT consulting companies. This trend happened over and over again and our mid-western economy has still not fully recovered.

People still assume that a job provides security but the reality of unemployment tells an entirely different story. I was laid off for 7 months and I had plenty of time to come to terms with my own financial vulnerability. Financial consultants have always advised a person to have 6 months income saved up and as sound as this advice is, many people don?t even have 2 months income saved up; they are actually living from paycheck to paycheck.

Over my 20+ year career, I?ve gone through the down-sizing fiasco more than 5 times and I would be quite foolish to pretend that I can depend on a job to be there just because I need the money. Jobs are good?they keep the economy flowing?people get paid?people spend money?the money flows in and out and everybody?s happy. But?and this is a big BUT, jobs cannot be viewed as the single source of personal long-term security. Our view of jobs have to change to match the reality and the reality is - we?d better learn to manage our money well and we?d better learn to generate income from multiple sources if we want to create financial security.

There are a few people who don?t have to worry about money now or in the future. They have money handled; their income is quite substantial, their lifestyle is affordable, their savings, investments, and retirement plans are unassailable. Most wealthy people cannot even claim this kind of stability because their lifestyles are exorbitant and out of control. But there are people who simply have no money worries; they made the right career choice, they love their work, they handle their career and money like an expert. How many people do you know that fall into this category? Not very many, right.

It?s true, money doesn?t buy happiness but don?t let anyone trick you into believing that you can have a quality life without certain financial means. In western society, having a certain income is essential to survival. I know everyone who reads this article may not be suited to join my business but everyone who is looking for way to give themselves some financial breathing room should consider three things, controlling the money going out, diversifying the income streams, and increasing the money coming in. Starting a part-time home-based business is an excellent way to do this. This is one of very few ways that a person can legitimately reduce their tax liabilities and take the money they save and use it to make more money.