Want to have a secondary source of income ? these are popular ways to gain extra income.

Hello.

Have you ever thought of having an extra income to cover your expenses?

In this blog i am going to share some streams of income with which you can achieve financial freedom.

lets start this blog with a famous quote 

"if your salary is your only source of income then you are one step away from poverty."

There are many earning sourses but i am going to share some ways that are popular among people these days.

Earned Income

Money made from doing usual job. Here we trade time for money 

However getting our first job is best moment in life and this is first step of financial freedom

we need to survive with this money if there are no source of extra income

but remember we cannot become rich with just this income in most of cases.

So what may be other sources?

Profit Income

Income earned through buying a product for low price and selling for high price for making profit.

well if you think this may not fetch you huge returns i will explain you with an example

wireless chargers are in huge demand now-a-days usually you get 100 of those charger from alibaba  and ship from china. 

Use your marketing strategies and market them in various social media platforms.Sell them.

you get 100 chargers @ Rs 19000/-($250).Each at rate of 190Rs approx

sell them each at Rs 750(10$)

thus making a profit of Rs 56000 (750$) approx

this is one of best Business Ideas for those who have knowledge about network marketing.

Interest Income

income generated from investments in banks such as savings or recurring deposit or fixed deposit.

basically you give your money to bank and they lend your money to those in need at higher interest and giving you low interest.thus banks also makes profit

this is win win situation for both investor and bank.

Dividend Income

Income made by owning shares of a particular company.

when the company makes profit they give a part of profit to the investors

there are many divident paying companies.But be very cautious when you invest in stock market.

research and earn sufficient knowledge in stocks before investing

Did You Know Warren buffet earns $768.7 million in dividend from Apple alone.

$1 million is 7,56,64,000 INR and you do the math.

Rental Income

income obtained from renting your property.

there is nothing much to say but there are people in India who earn lakhs from just rents.

Capital gains

money gained from sale of property or stocks.

but this is one time profit not a continious flow of money.

Passive income

earnings made with little or no effort

i am gonna make a separate blog about passive income ideas

until then bye and thanks for reading

please share your ideas and thoughts about having an extra income.

STAY HOME STAY SAFE.