Multiple sources of income. How to create multiple sources of income: only practice and type

To the reader

Dear reader!

Over the past 20 years, I have taught thousands of people how to achieve financial freedom through my best-selling books and seminars to an international audience.

In this book, I'll talk about how to create multiple income streams for yourself. More specifically, you will learn 10 additional ways to make money. I must warn you that we are talking about unusual sources of income. You will learn how to secure a side hustle, or residual1
Permanent (lifelong) income of an individual. It is a side income (unlike linear income) and does not require further investments of labor or capital. More details in chap. 3. – Note ed.

Income flowing to you 24 hours a day - even when you sleep. You will learn how to create additional income streams...

without spending a lot of time on it;

working within the walls of your own home;

spending little or no money of your own;

making do with few or no employees;

using simple but time-tested systems.

Plus, I'll show you how...

control your finances;

provide high percentages of profit - 18, 36%, up to 50% - using little-known financial strategies, and in some cases your success will be guaranteed by the government itself;

earn at least a thousand dollars a day doing business from home;

provide yourself with 50 to 100 thousand dollars of additional income per year;

become, perhaps, a millionaire during his lifetime.

What will this give you in the end? A lifestyle where you are free to do anything, anywhere, with anyone. One Spanish proverb very accurately expresses the essence of this lifestyle: “Health, and money, and love, and time to enjoy them.”

If this is your goal, let's work together to help you get it all before it's too late.

Best wishes, your money mentor,

Robert Allen

Introduction

I come to you with good and bad news.

I'll start with the good one. If you are the average North American citizen earning at least $25,000 a year, then over the course of your lifetime you will have more than 1 million dollars. This is a large amount. In other words, you have the potential to become a millionaire within your lifetime.

Now the bad news.

If you're like most people, you'll spend it all and end up with next to nothing after years of making money. You may ask, how can this be?

To tell the truth, we are not taught how to handle money. In other words, we are not receiving formal education in what can be said to be the most critical area of our knowledge about life - knowledge about how to achieve material success. In all your years of study, have you ever come across a course called “Money: A Complete Practical Course”? Why, one might ask, not make it compulsory starting from elementary school?

How do we even learn about money? It’s as if we are picking up crumbs of knowledge: pocket money here, tips there. Parents, as a rule, teach us only a general attitude towards money; In later life, we learn about financial transactions mostly from the press. We learn from the examples of our friends. And we follow the path of trial and error, going through the harsh school of experience. Much of what we learn is random, being mostly erroneous or not tied to real life. The books you read on the subject are most likely too complicated for you, full of indigestible details or boring facts. If you belong to the majority, then this topic will not seem interesting to you, but will only cause dissatisfaction with yourself and confusion in your thoughts.

But money is one of the most important aspects of any person’s life. Many of life's joys and its greatest disappointments stem from how well a person manages his money. Whether you find peace of mind for the rest of your days or live in constant anxiety will depend on your ability to control your finances. The material side of life is reflected in how your relationships with the people around you develop. Suffice it to say that most divorces are caused by disagreements over money. Understanding money - how to make it and save it - is of great importance for your life, your relationships with loved ones, your happiness and a peaceful future.

Be that as it may, there is a class of people who seem to have a natural sense of how to properly manage money. The same million dollars flows through their fingers throughout their lives, but they know how to save some part of it and even increase it - in some cases, a hundredfold, compared to the average person.

Do these people really work a hundred times more? Or are they a hundred times smarter? Of course no. They just know the rules of the game. You see, money is a game and very important for us. If you know how to play, you win. If you don’t know, then you are doomed to lose. As the prominent physician George David said, wealth is when big results are worth little effort. Poverty is when the greatest efforts lead to insignificant results.

In this book you will finally learn how to play the game called "money" - and win. By following the simple principles outlined here, you will ensure a lifetime of financial prosperity and an economically prosperous old age. You will master a simple system for managing your own finances, learn how to invest your financial surplus and still sleep peacefully at night. You'll learn how to secure multiple streams of income for the rest of your life and learn how to evaluate your growing financial empire in no more than 10 minutes a day. You will also be able to financially ensure a prosperous future for your children and loved ones.

You may be wondering how qualified I am to be your mentor. It all started for me in the 70s, as perhaps it did for you, with a dream of financial well-being. After graduating from Brigham Junior University in 1974 with a master's degree in business and management, I began investing in small venture capital deals. 2
Risky. – Note ed.

With real estate and, starting with a tiny business, he made a multimillion-dollar capital in this area in just a couple of years. On the path to success, I went through a lot of troubles. I not only made millions, but I also lost them... and then gained them back again. I know from hard experience what works and what doesn't when it comes to ways to make money.

I popularized my knowledge in the New York Times bestselling book, Zero Down: A Life-Proven System for Real Estate with Little or No Cash Down. This book has become a classic primer on real estate investing for beginners. I am also the author of two other bestselling books: How to Get Rich, a number one New York Times bestseller, and The Test. While promoting the latest book, I made a bold statement: send me to the job center. Let me choose one of the center's visitors who cannot find a job and has already lost hope. In two days I will reveal to them the secrets of success, and in 90 days they will be firmly on their feet, depositing at least 5 thousand dollars in their bank account, and will never again think about returning to the ranks of the unemployed.

The Test is the true story of how I selected three unemployed men in St. Louis, Missouri, and taught them the secrets of financial success... And indeed, they were able to achieve incredible success in just 90 days. One couple earned more than $100,000 over the next 12 months. In recognition of their success, I invited the couple to appear on Good Morning America!

Although my most famous book focuses primarily on real estate investing, the one in front of you now will show you how to create wealth in more than one way and create multiple streams of income. There are three great mountains that personify the potential for human material wealth. I call them mountains of money. Each of them is different from the others, but at the same time, they all have something in common. This Mountain Investments, Mountain Real Estate And Mountain Marketing3
Working with the market: development, research, communications, distribution, etc. The main working concepts of M. are need, requirement, request, product, exchange, transaction, market. – Note ed.

From these mountains of money originate at least 10 separate streams, representing your income, flowing into a single lake of growing wealth. I clearly defined each such flow using money tree formula. In this book, I will introduce you to the nine main characteristics of a theoretically ideal income stream. Then I'll teach you how to profit from each source of wealth discussed in the book. Your goal will be to add at least one additional source of income to the ones you already have every year. Over time, these streams of income will fill your life with material wealth and provide you with financial freedom.

The first question people ask about what has been said so far is, “Why multiple income streams?”

The Wisdom Behind the Multiple Streams of Income Principle

How many sources of income did a family in the 50s need to survive? One. Today, only a small number of families are able to survive on less than two sources. But even this will not be enough in the future. The future promises to be unpredictable. Therefore, it would be wise for you to stock up on more than one source of income.

This has always been clear to successful people as clear as day. When one source dries up, many others remain to provide them with abundance. “Ordinary” people are much more vulnerable in this regard. Having lost one of the sources, they lose in the amount of their income. And it sometimes takes many years to restore it to its previous level.

In the future you will need portfolio of income sources – not one or two, but many cash flows from sources of different nature, so that when one of the sources dries up, you hardly feel it. Your income is stable. You have time to fix everything. You feel safe.

Do you have enough sources of income at the moment? Perhaps it's time to add at least one new one to the existing ones.

In this book, I will teach you practical strategies and skills that will allow you to create 10 independent sources of income. But above all, let's ensure that the flow of funds into your pockets is based on correct and sound financial principles.

Chapter I. “Easy” Money: Financial Freedom for a Dollar a Day

The greatest mathematical discovery of all time is the compound interest formula.4
We are talking about the compound interest formula – С1=(1 + Ra/Pa) – 1, where CI – compound (actual) interest rate in hundredths of a unit; R a– nominal interest rate in hundredths of a unit, R A– number of periods in a year. – Note translation

Albert Einstein

It all starts with a simple currency.

In the United States of America, Canada, Australia, Hong Kong and New Zealand it is the dollar, in Great Britain it is the pound sterling, in France and Switzerland it is the franc, in Germany it is the mark, and in Japan it is the yen.

Whatever country you live in, take your wallet out of your pocket right now, take out a piece of paper worth one unit of your national currency and carefully examine it. Rub it. Feel it. Now bring it to your nose. Does money smell? Look carefully at the images on the banknote. Please note the serial number. Now turn it over. Explore the strange characters on the banknote. What could they mean? Imagine looking at a surface covered with protective equipment through a microscope. Try to see and read every word printed on the banknote. The piece of paper you are holding in your hands doesn’t look like anything particularly valuable, does it? Inflation reduces its real value daily. What would it matter if you spent it on the same trifle as she herself, lost it or completely threw it away?

Wait a minute, though. Could it be that this paper currency is worth more than just looking at it suggests? Could this be your magic ticket to a more luxurious life, where you can live anywhere, do anything, and have any material possessions you want? One thing is certain. What feelings people have towards such “pieces of paper” is almost the main condition for whether they will be able to find prosperity in life, to turn it, figuratively speaking, into a continuous “banquet of prosperity”.

I promise you that after reading this chapter, you will never look at money the same way again. Never. You see, successful people don't see money as just colored pieces of paper with pictures of long-dead people on it. They perceive them as seeds—money seeds—with a life force that can turn them into money trees whose fruits will satisfy their wildest dreams. And in this attitude towards money, successful people are absolutely right.

Each dollar is a money seed. Just as a tiny acorn contains within itself the power to grow into a huge oak tree, every one dollar bill has the potential to grow into a prolific money tree. You can grow at least one such tree for just $1 a day. Can you afford this expense?

Both jokingly and seriously

Fear dissipates as you take action to achieve a goal that you truly desire.

R. ALLEN

If you follow the advice in this book, you will soon have your own majestic money tree growing right in the middle of the living room of your dream home. Just imagine such a picture! The branches of your money tree spread like ivy across the ceiling in all directions and penetrate every room of your home. On each branch, at intervals of half a meter, fruits ripen, which, having reached maturity, open with a sound like the pop of a champagne cork, once or twice a day, giving birth to crisp $100 bills. As the banknotes fall from the tree, they end up in harvest baskets placed throughout the house. All night you hear the sounds (pop, pop, pop!) of ripe fruits opening. You might think that these incessant sounds will keep you up at night, but in reality they will lull you to sleep. Your money tree will bear fruit 24 hours a day: when you sleep, when you are at work, when you watch TV or eat. It never stops bearing fruit. Endless cash flow. Whenever you need money, you simply take as much as you need from one of the baskets. Well, have you quite imagined it?

By destroying an acorn, you will thereby cause the death of... the tree that could grow from it. Whenever you unwisely spend one of the pieces of paper that represents banknotes, it also leads to the death of a potential money tree. This is why it is so important to protect money seeds (see Figure 1.1).

So, what is the true cost of any of these seeds? It depends on how long you will grow a money tree from it and at what speed it will grow. Suppose you took a one-dollar bill and deposited it in a special bank account that would allow the corresponding money supply to grow without being affected by taxes and other mandatory payments. How long will it take one dollar bill, to grow into 1 million dollars!

This depends on the deposit interest rate that the bank account will provide. If it is akin to regular bank accounts, it will take a very long time before the required amount is received. Table 1.1 shows how long it takes one dollar to become a million at different interest rates.

Table 1.1. How long does it take $1 to grow into $1 million at different interest rates?

Rice. 1.1. Your money tree

As you can see from the table, at a 3% interest rate, it would take 468 years for a single dollar to become $1 million. What? I hope you're not going to live 468 years? Relax. We're not done with our one-dollar bill yet. We need to accelerate its growth. How to achieve this? Instead of sitting and waiting after planting just one seed, couldn't you plant one at a time, but more often? Can you afford $1 a day for these needs? That's only $30 a month! Of course you can.

Table 1.2 shows how many years it would take to grow $1 million by planting $1 a day, again at different interest rates. Wow! A dollar a day could easily provide you with an income equal to $1 million over the course of an average human's lifetime.

Table 1.2. How Consecutive Deposits of $1 a Day Turn into 1 Million

Let's say you started depositing a dollar a day into your bank account, starting the day you were born. Table 1.3 shows what the amount would be in your account at the time you turned 66 years old. “Spending” a dollar a day, you can grow a capital of 1 billion by the time you retire! This is a whole forest of money trees. Yes, you are a real Ross Perot 5
Texas billionaire who ran for President of the United States in 1992 and 1996. – Note translation

In its infancy! And why does this become possible? Force compound interest makes an insignificant amount invested wisely every day turn into huge capital. No wonder Einstein himself said: “The most outstanding discovery of man is compound interest.”

Table 1.3. Total Savings From $1/Daily Savings Over 66 Years at Various Interest Rates

But let's say you don't want to wait 66 years. Well, there is another way to speed up the process of growing your savings. Could you plant two or three seeds a day instead of one? How about five? How about ten? Will this be noticeable to you? Okay, let's put it another way. If you started investing 10 measly bucks every day in a good mutual fund, or in stocks, or in real estate and managed to achieve at least a 20% return, you would become a millionaire in just 20 years! (Clap, clap, clap, clap.) Well, does it make an impression?

I can already hear the voices of skeptics: “No one can achieve a stable 20 percent income for 20 years in a row. This is impossible!" Well, Warren Buffett, the genius of the stock market, managed to do this for more than 40 years in a row. When you finish reading this book, you will know that it is not only entirely within your power, but is within the reach of anyone with the discipline and modest knowledge and skills of financial planning. You don't need to be a financial genius to do this. You don't need to own a big company. You can achieve this sitting right in the kitchen, using money that you are now simply throwing away. All you have to do is channel a small portion of your currently misused funds into well-planned investments and you will achieve financial success.

Table 1.4. How deposits of various denominations can turn into 1 million

I bet that from now on you will think twice about wasting one of those green pieces of paper called money. It's like throwing a $1 million money tree seed into the trash.

Every time you invest in a profitable enterprise or put it in a savings deposit 6
Here: deposits in banks, savings banks. – Note ed.

One of the money seeds, you sow your future pasture of financial prosperity. The main purpose of this chapter is to change the way you think about money in general, and especially about those same one-dollar bills with which we began. I have no shadow of a doubt that you are able to save $30 a month for a business, even if you have the most meager budget. Over time, you will certainly want to increase this amount to $100, $200, $300, or more per month. The greater the amount of funds used for future use, the better. The more you use for future use, the faster your wealth will grow. So how much do you think you could save and invest daily? Table 1.4 and graph 1.1 show how a daily deposit of just a few dollars can turn into a round sum of $1 million.

Chart 1.1. Opportunities for regular tiny investments made over a long period of time

In this article I want to talk about how you can create multiple sources of income. Why should this be done and in what order. What to pay attention to, and how to manage all this happiness in practice.

I will not pour water, share conjectures, assumptions and cite, as an example, some abstract things based on the experience of other people.

Those who read my blog know that I don't like to talk about things that I have no idea about. Therefore, on the issue of creating multiple sources of income, I will present exclusively my vision, based on my own practical life experience.

What does the term multiple sources of income mean?

I promised that there would be no theory, so I’ll explain with an example.

Imagine that you got a hired job in some reputable office. You are paid a monthly salary. Since the salary is good, you are happy! You don't worry about where to get the money. You get paid enough to rent an apartment, buy yourself new clothes, eat in restaurants, go to the movies and theaters, and save for a car or your own apartment in Spain. In a word, your earnings allow you to lead a full, unencumbered life.

But there comes a time when things for the company begin to go worse and worse. In the end, a new owner comes and carries out a complete reorganization, driving all the workers to hell.

You find yourself on the street without a source of livelihood, with only severance assistance in the amount of the average monthly salary, if you're lucky. Well, with the savings stored under the mattress at home (if you are a thrifty creature).

And here you suddenly, bitterly realize that you had one and only source of income - your salary. Your life completely depended on whether you were paid on time for your work or not. When the salary disappeared, all hopes for a cloudless future collapsed. Spain and the new car have not become any closer.

To get back to life again, you need to urgently look for a new job (read: a new salary), because your savings won’t last long.

But if you remembered the financial aphorism: “Don’t keep all your eggs in one basket” and, in addition to your salary, put your savings into the bank, receiving interest monthly.

Or you would work part-time as a waiter somewhere in your free time from your main job, receiving a certain income, or you would successfully play and win poker, or engage in other paid activities - you would receive money from many places without being tied to your main job.

And even if your main source of income were cut off, you would still continue to receive money.

The mysterious term from the books of Kiyosaki and others like him - “multiple sources of income” means this. The ability to receive money from different places.

How to Create Multiple Streams of Income

In fact, creating multiple sources of income is easy. To do this, you just need to look around, evaluate what you see, and then start acting!

An incomprehensible theory, you say?!

Ok, let's look at the procedure for creating multiple sources of income with an example.

Let's say you are an ordinary average citizen of Ukraine. Higher education. By profession - sales manager. You live in a rented apartment in Kyiv and earn 8,000-10,000 hryvnia monthly in some large electronics store.

You are not married and do not spend a lot of money on yourself. You allow yourself to go to the cinema or theater a couple of times, buy a couple of books and even put aside 2,000 hryvnia for a mattress for the future (what if apartments in Spain become cheaper?!).

Stop, stop, stop, many will stop me. You want to say that by renting an apartment in Kyiv for 4,500 hryvnia per month, buying groceries (and this is no less than 2,000 per month for one), visiting the cinema and theater, buying books, and, at the same time, managing to save, you can create other sources of income?!

Yes friends! This is exactly what I want to say. Even if you don't save on food, save on utility bills, and save your savings. Because creating other sources of income does not always depend on the money you receive at your main place of work.

Everything depends on you! From your imagination, goals and aspirations. See what can be done in this situation.

1. Open a deposit in a bank (it’s free) and replenish it monthly with 2000 hryvnia, which you used to shove under the mattress. The interest you receive monthly increases depending on the growth of the deposit amount.

I have already talked about how to save money correctly.

This is your second source of income.

2. At the same time, create pages on social networks Facebook, VKontakte, etc. with the goods that you sell in your electronics store (this is free). You place photos of the product on these pages, make the price a little higher than in the store, and send links to the pages to your friends.

You can find information about where and how to look for clients in this article of mine.

In a store, you can get a discount on a particular product (as a rule, stores sell products cheaper to their employees).

Here is your third source of income.

3. Create your YouTube channel by clearly communicating the products you sell. Moreover, you can make money on YouTube in other ways. I have already talked about ways to make money in the article: “How to make money on YouTube”.

And once you save up a little money, you can start investing in YouTube channels.

What else? Think about what you can do and how you can be useful to other people. Maybe you are good at editing photos, taking photographs, writing texts, editing videos well, working in various editors?!

If yes, then...

4. Go to the freelance exchange (in the article: “The best, in my opinion, exchanges for finding freelancers”, I talked about them), register, tell about yourself, post examples of your work for everyone to see, set reasonable prices and wait for customers ( this is also all free).

This is already the fourth source of income. Even if not permanent.

5. If you have a car, you can drive in the evenings. Or you can become a taxi driver for Uber, which recently entered Kyiv. I told you separately how much you can earn at UBER in Kyiv - in this article.

This is the number five source of income!

7. If creating websites, filling them, promoting them, etc. are too complicated things for you, you can start selling on ROSETKA. This is one of the largest trading platforms in Ukraine. A kind of Ukrainian Amazon.

Here are live, real examples of how you can create multiple sources of income for yourself and earn more money.

At the same time, don't be afraid to make mistakes. Not even like that! Make mistakes! In this article I told you why you absolutely need to do this! Learn, strive to be better and stronger!

Let's summarize.

Why is it important to have multiple sources of income?

1. This is your insurance in case of dismissal from your main job and/or the cessation of another source of income.
2. This is an opportunity to earn more.
3. This is an opportunity to do what you love.
4. This is an opportunity to learn something new and, accordingly, increase your value as a professional in the labor market.

“Yeah,” some will say. “You present it so cleverly. In words, everything always turns out beautifully, but where are the numbers? Where is the confirmation that everything you said above works in practice?!”

Please!

As of today, my wife and I have 9 sources of income, six of which are permanent.

1. Salary at the main job.
2. Deposits (I recommend reading my article: “How to choose the right bank for placing a deposit”).
3. Business: online store of stylish home goods “Style of Taste” (here is the website).
4. Business: a full-fledged stationary store (starting with this article, I told in sufficient detail how we organized it). You can also video look.
5. Business: online store selling motor oil for cars "Luigi's Garage" (here is the website). You can read about how I organized it.
6. Business: GIFTS store, which we opened on ROZETKA.UA. Above I gave a link to how we organized it. If you haven’t noticed, I’ll duplicate it - HERE.
7. Income from this blog. AND YouTube channel.
8. Intermittent part-time freelance work on the Internet.
9. Other non-permanent part-time jobs in everyday life (I have already talked about one of them).

Another source of income is coming - from the sale of my e-books. True, he has just appeared and I will not take him into account.

As you understand, all these sources of income bring good income! And they allow my wife and I to make small trips from time to time to a wide variety of countries in the world.

But the most important and important thing: even if I lose one source of income, the rest will not let me die of hunger. They will be able to cover me until I find a way to find another place to earn money.

Quite an important point: strive not for the quantity of sources of income, but for their quality!

Because managing your sources of income (assets) sometimes requires you to spend a lot of time and effort. If some source of income does not bring you acceptable money, ask yourself whether it is worth leaving it or whether it is better to switch your attention to finding new sources of income or improving existing ones.

Now, in the age of rapid development of information technology, there are simply enormous opportunities for creating additional sources of income!

You can write custom articles, you can promote websites (every day thousands of new information resources appear in the world), you can create your own e-books. Baking, doing handicrafts. Walk the dogs. Yes, there really are opportunities on the Internet – the sea and all the oceans combined!

The main thing is not to be lazy! (I revealed the secrets of fighting laziness -).

Do not flirt with mining cryptocurrency, in particular Bitcoin (I explained why in this article), do not go with the flow and do not be a seal washed ashore.

Use your life time wisely! And don't waste it on things that don't bring you satisfaction!

I know a lot of people who pray for their employer (their workplace) and salary and do not develop any further. They tremble at the mere thought that they might be fired, and are ready to humiliate themselves to prevent this.

Remember that only the comprehensive development of your personality (skills, skills, professional qualities) will help you attract the attention of guys with big money and allow you to take your rightful place in the sun.

No one will change your destiny except you!

Create yourself multiple sources of passive income, and don’t give up if you don’t succeed. After all, strength is born from struggle. Strength comes from pain. And the one who walks will always master the road!

If you want to create your first business, but don't know how to do it. You lack knowledge. Or you want to make yourself a YouTube channel and make money on the Internet. Or you want to invest money so that it generates passive income, but you don’t know where. Or maybe you already have a ready-made business and are looking for a lawyer, lawyer - write to me at ashkudun (dog) gmail.com. I will help you!

You can read more about who I am in this article.

Businessman, lawyer, blogger.

This article will focus on the question of why multiple sources of income are needed and how they can be created.

One salary is not enough

If the main sources of income are only salaries, then this is a rather unstable financial situation. This is especially true if there is another financial crisis outside the window.

This issue becomes of no small importance if these sources of income overlap due to the loss of a job, and you need to feed your family, and there are other financial obligations (for example, a bank loan). In this case, the option of earning money in another place will help.

Therefore, in the relevant literature one can find an interpretation of such a concept as multiple sources of income. It is the creation of such that will contribute to the formation of real financial freedom. Especially if such sources of income generation are passive. In other words, it is the profit that a person receives, regardless of whether he is working or relaxing.

Passive sources of income

So, what are they and by what criteria can they be assessed:

1. Opening your own business. We are talking about a type of activity that does not require special participation in the process of functioning, but will require a lot of attention at the initial stage.

2. Income from rental property. This can be personal property both in Russia and abroad. Such sources of family income are fairly stable. At the first stage, it is advisable to have such real estate abroad.

3. Copyrights are quite interesting sources of income, generated through various printed or audio, video materials, as well as inventions created personally. The source of such income is the receipt of royalties.

4. Bank deposit, which is the most common source of additional income. It is formed by investing a certain amount of money in a bank at interest, which is classified as a passive type of income.

In what order is it better to generate income?

If today there is only one type of income in a family, then experts recommend adding others gradually.

Multiple Streams of Income: Creating Them

To successfully implement your achievements and developments with a view to obtaining them in the future, you need to draw up a certain algorithm of actions:

The direction of activity in which it is planned to create a source of income is selected;

A specific plan for its formation is drawn up;

This plan is being implemented.

Other sources of income

In addition to passive ones, there are also such sources of income as:

Prize for work;

Indemnity and compensation for damage;

Scholarship;

Alimony.

Income and expenses

Provided the family receives regular income, it has the opportunity to plan the appropriate level of expenses. However, often, when distributing expenses over future monthly payments, you may discover the need for additional payments. Thus, additional financial plans may appear.

It’s a completely different matter when it comes to irregular earnings. In this case, it is more difficult to plan sources of income and expenses, since the size of the average family budget for the previous year and the expected minimum amount per month remain uncertain.

An important issue for the budget of any family is its planning in accordance with the minimum size of the source of income. And if a surplus appears, it will be possible to use it to cover additional needs.

Security of sources of income

In this case, it is necessary to repeat once again the need for the family to have, in addition to the main source of income, additional ones. For example, if a family member receives only social benefits, then there is a possibility of changes in current legislation that will lead to the loss of his status as a citizen who meets specific criteria for receiving such benefits.

The best option is for all able-bodied family members to work. At the same time, they must have different places of work, so that in the event of any reorganization at the enterprise, the family will not be left without income. Family income depends on a large number of factors, but effective planning will enhance the effect of income growth with its distribution between sources.

Additional source of income

Incidental expenses are:

Major and current repairs;

Purchase of equipment;

Expenses for examination and illness.

There are also so-called “unwanted” expenses, consisting of:

Fines and penalties;

Various compensations (for example, repairs to the homes of neighbors flooded with water);

Interest on obligations not paid on time.

Summarizing the material presented in this article, it should be noted that drawing up a family budget is an integral part of any “unit of society”. Only through effective planning can a family exist at a sufficient financial level.

How to create passive income - 14 working methods + 12 tips for beginning businessmen.

To answer the question: how to create passive income, you need to understand how passive income mechanisms work, how money accumulates in your account, and also what to do in order to start earning money without investing your time and effort?

Features of creating passive income and its difference from active

The main difference between passive income and active income is that it does not require investment of time and labor.

The money arrives into the account by itself.

Of course, you will have to put in some effort to ensure that the profit flows into your account, but it pays off and brings you money in the future.

Active income requires constant work, visiting the workplace and performing one’s duties.

To receive passive income, you need to perform certain actions once to receive it.

Receipts will occur over a certain period of time.

To get rich, you must have at least 1-2 sources of passive income, in addition to the main income received from a permanent job.

Many people talk about this in their books and interviews.

When creating several sources of profit, you can completely leave your work activity “to your uncle” and start your own business.

How to create passive income: 14 best ideas

Create your own website or blog on the Internet and promote it.

In this case, passive income is achieved by paying for advertising.

On average, on one site, a beginner can earn about 12,000 rubles.

But you can sell a site where the total number of visitors exceeds 5,000 people for 200-250,000.

You can not only make passive money from this, but also build a highly profitable business.

An alternative to the website is maintaining a VKontakte group.

One well-promoted group can bring the owner from 8 to 15,000 rubles per month.

What if there are five such groups?

Selling your own seminars and training courses.

This option is suitable for those who have graduated from a higher educational institution and have a diploma with the right to teach.

The most difficult thing is recruiting listeners.

However, if the topic is interesting, people will find you.

To write a book.

Income from the work "royalty" goes to the author until the book is removed from sale.

Create an intelligent product.

For example, a computer program.

By obtaining a patent for it, you can also receive regular royalties from sales.

Or a car.

Even a one-room apartment can generate income comparable to the average monthly salary of a citizen in Russia.

Renting a salon, hairdresser's place.

Government payments.
They can be received by disabled people, large families or people who have retired due to age.
Bank deposit.
Investing money in a bank as a deposit is not a big passive income, but for the most part allows you to save money.
However, it is still quite possible to receive not an extra 3-10 thousand per month from a large amount.
Sale of securities and mutual funds.
A good option for long-term capital investment with the aim of making a profit.
However, it must be approached very carefully.
Gather all the information about the organization in which you are investing your money.
Income from shares becomes large only after about 7 years have passed since their acquisition.
Own business.
A very good option for receiving passive income, but it requires a lot of effort and time before it starts to generate profit.
Venture investments and profits.
To receive venture capital royalties, you must invest in a newly launched company.
After a few years, you can start receiving a very substantial amount, depending on the amount of the contribution.
Investing money in investment and trust organizations.
Profit is generated through the redistribution of capital.
However, in this case there is a high risk of losing your investment.
Purchase of housing under construction and its sale after construction.
A profitable option if you have the funds to purchase one or more apartments under construction.
You will buy it for 500,000 rubles, and sell it for 1,000,000.
However, most likely, repairs will have to be made, at least cosmetic.
When choosing a developer, you should be extremely careful.
Buy housing only from reliable, well-known developers who have been working in the housing market for several years.

Finding the best option from the many existing ones is not a matter of one day.

You should carefully consider the steps, evaluate the initial capital and decide what is best suited.

Many people, thinking about how to create passive income, do not want to do anything about it.

However, in the beginning you will have to work hard in order to reap the sweet rewards in the future.

12 tips for beginning businessmen to create passive income

To become a free person in terms of finances, not to depend on the opinion and mood of the employer, you will have to work hard.

You are always looking for the best option for investing and starting a business.

Look for new assets that will later turn into liabilities.

To become a wealthy person, strive to create several sources of passive income.
Improve your financial literacy.

Be an educated person, read books, attend courses and lectures.

Live the life that rich people lead.

Before investing, study all options, do not invest money at random.

Always have on hand the necessary documents confirming your investment in a company or bank.

Break your cash capital into several parts and invest in different projects.

Calculate the risks of losing your invested money.

If the risks are minimal, take the risk.

However, if intuition and common sense scream that the investment is not worth making, stop, no matter how profitable the offer may seem.

Think about your future every day.

Decide what you want to achieve.

Open your website on the Internet and develop it.

If there is a lack of capital, the site can be sold for a good amount of money.

Find a mentor or coach who has already walked your path and can give you some ideas.
Be prepared for the fact that to create good passive income you will have to work for some time, invest not only money, but also time and effort.

Don't try everything at once.

Focus on one project, and when you finish it, try another.

By focusing on several projects at once, you can get confused and lose your investments.

How to create passive income on the Internet?

Organizing your own financial project is a great way to create passive income.

You can open a business both in real life and on the Internet.

If there is no initial capital, or it is relatively small, the option of creating a business on the Internet is preferable.

Choose the business that you are best at.

This could be website creation, group administration on social networks, copywriting, Forex trading.

To start trading on the Forex exchange, you need to undergo a month of training and conclude several trial transactions.

At the initial stage, invest minimal amounts and develop.

Robert Kiyosaki talks about how to create passive income in the video:

How to create passive income and gain financial freedom?

In books on self-development, achieving success and wealth, millionaires give advice on achieving financial freedom.

We have selected the best ideas:

To avoid remaining poor throughout your life, find time to create passive income, even while working your day job.

In a month or a year, these efforts will more than pay off.

Always strive to create as many sources of passive income as possible.

When you make a profit, invest it again.

Develop yourself.

Financial literacy is a prerequisite for those who want to get rich.

Start by at least reading books by the world's millionaires and billionaires and follow their advice.

People who think about how to create passive income, are already a step above the rest.

Move forward, apply the recommendations we have described and become a millionaire.

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