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Multiple sources of income

I always wanted to have a business from where I can have a income other than the income I get from my normal job. I believe a person should have more than one source of income. There are many ways by which anyone can have more than one source of income.So let me create a list of the ways that one can use to create the source of income and let me tell you that I am using each of these methods personally to as the source of income.

1. BLOG 

One can easily open the blog and can monetize it with the google adsense, adf.ly etc , I consider it as one of the easiest and cheapest way of source of income. In this way all you need is a laptop or a smart phone. Blogger.com is the amazing platform for this.

I have 3 blogs for the same on which I share my experiences and knowledge on so many things from them nav-nc.blogspot.com is one of them

If you want to create the multiple sources of income I should say it is the must have thing.

2. YouTube Channel 

 
YouTube channel can be an source of income. If you are good at anything let the world know about it and let you teach the world from your experience, again the adsense and sponsorships can be used to monetize your channel and one can start earning from it. Also one can promote its channel from its blog as well.

This is my youtube channel where I post about many things. Here is an video of me playing the Titanic theme song every night in my dreams. [Still learning lol ]





3. Fixed deposits and other saving schemes 

 
 You have some extra cash you can use that amount to get a source of income. What I prefer is I make the fixed deposits of the cash that I have and that deposit generates the income in the form of interest and either I reinvest the interest or I use it for my expenses. I prefer the government banks and post office for the same, for the long term one can even go for the PPF and insurance as well.
I keep a practice to not use my money directly but through the interest for my expenses and for the amount I prefer to deposit these in the above mentioned forms.


4. Stock Market and Mutual Funds 

 
I believe one should invest 5-10 percent of his savings in the stock market or in the mutual funds , one can get good returns from these even better than the fixed deposits. I have a hobby of investing money in the stock market , but I would suggest one should focus on learning about this before making any investments as there are risks involved in it but if you are investing with good knowledge and consistency one can get good returns as well , and for the passive income one can get the money in the form of dividends and increase in the price of the share.

NOTE : - I try to make small investments each month in the form of stocks and mutual funds and that too is distributed in the fixed income and the equity.

5. Rented property 

 
If you have extra room in your house or a extra house , you can always rent it to earn a income , this is very common now a days as many people prefer to rent a place than buying the one.

6. Affiliate Marketing 

 
 If you have good follower base and you are good in reviewing the products you can even start a affiliate marketing. There are platform like amazon and other which share the commission for making a sale from your links. If you have a blog and social media accounts like facebook, twitter and youtube you can place your links in there and whenever a sale is made through them you will earn a commission.

I am a proud amazon affiliate.

7. Agriculture land 

 
I come from a family who were once the farmers and hence I got some agriculture land , that is one of the best way for the passive income as well , you can give your land to someone on a contract basis and earn a income from it. These lands can be used to grow fruits / vegetables or other food items with other things like horticulture etc so if you have extra money you can buy the assets like agriculture land.
 

8. Freelancing 

 
As I am a software engineer , I can always use my skills for the freelancing and this is an amazing source of income , one can utilize his skill and can earn some money from freelancing , hence it is also a good way of earning.
There are so many platforms like freelancing.com , odesk.com available where people posts the jobs they want done , and you can pick the job to earn some money out of it .

Well , that is just not limited to these, there are still many ways like completing online surveys, part time jobs , commission based selling of real estate projects etc. which one can explore and may be I will share these on my blog on some other posts in details.

I keep on telling everyone to start a blog as I feel it is a base and it can be used to further grow your digital presence. Like I can promote my you tube channel from it , I can share my affiliate links on it , I can post about my experiences , so if you are really looking to create more than one source of income I will recommend to start with the blogging.

For more queries you can always ask in comments , I try my best to look into all the comments I receives

Till then stay tuned.





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