How to create multiple sources of income

, How to create multiple sources of income
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Being able to live off your stable job’s salary is nice, pero deep inside ang iba sa atin ay naghahangad rin na magkaroon pa ng ibang source of income. This may be because they want to have more financial freedom, may pinag-iipunan, or simply, for security. Whatever the reason, its never too late para magsimula ka sa track na ito! Here are things na kailangan mong isaalang-alang in making or finding extra income.

Since we are going to assume that you already have an active job since you’re looking for an extra source of income, or kahit hindi man, kailangan mong i-consider na ang goal ay magkaroon ng passive income. This is to ensure that kaya mo na i-balance ang regular work mo with the extras. This way, hindi mo iisipin if mabu-burn out ka or ma o-overload sa mga trabaho.

We need to evaluate what we enjoy and do good at. Magaling ka ba sa field ng drawing or art? Then you might want to take commissions as a sideline or be a freelance artist. Dahil you can communicate with your clients as for the deadlines, matutulungan ka nito para mabalance ang iba mo pang mga pinagkukuhanan ng sahod.

After that, kailangan nating isipin ang cost. Kailangan ba muna  ng malaking investment for start-up? Halimbawa for renting lands, condo/apartment units, or properties. Dahil need muna ng large upfront investment, ponder first if mababawi ba ng sahod mo in the future ang gagastusin. Naghahanap tayo ng extrang pagkakakitaan after all, not another pain in the wallet. Timely speaking, asses if you can benefit from it in the long run. Choose something that can operate nang matagalan at stable.

For ideas, narito ang ilan sa mga maaaring gawing streams of income na possible pagsabay-sabayin:

 

  1. Rental income– Rent income is the cash generated by renting out properties to third parties, such as commercial premises.

  2. Royalties– Ito ang revenue na na-e-earn from letting someone utilize your property. The most frequent royalties are for the use of patents, copyrighted works, natural resources, or franchises.

  3. Interest income– the amount given to an entity in exchange for lending or allowing another company to utilize its finances.

  4. Selling your unused items or thrift business.

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