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Judul : 4 Sources of Income to Increase your Cash InflowLink : 4 Sources of Income to Increase your Cash Inflow
In a cash flow diagram, there are two money streams: the cash inflow and outflow.
To increase one's cash flow is to manage these cash flow streams: earn additional income for the cash inflow stream and manage expenses and budgeting for the cash outflow stream.
To increase one's cash flow is to manage these cash flow streams: earn additional income for the cash inflow stream and manage expenses and budgeting for the cash outflow stream.
Today, let us learn how to increase our cash inflow by earning additional sources of income.
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| Increase income to increase cash inflow |
It is important that one must understand that there are two types of income: active and passive income.
Watch the video below to learn how to increase your cash flow by earning additional sources of income:
Watch the video below to learn how to increase your cash flow by earning additional sources of income:
Active Income
Active income is the type of income that when you work, you earn and when you don't work, you also don't earn. Sources of active income usually come from employment and self-employment.
(1 & 2.) Employment and Self-employment
To earn adittional income, after having a full-time (8 to 5) job, one may venture into a part-time job like personal tutorial, be a fast-food crew or be a part-time teacher.
For professionals, one can have a private practice, private clinic or be a consultant. The challenge of having a lot of active sources of income is that our time is limited and it also affects our physical health. By the time we get sick, our income also stops.
For professionals, one can have a private practice, private clinic or be a consultant. The challenge of having a lot of active sources of income is that our time is limited and it also affects our physical health. By the time we get sick, our income also stops.
Passive Income
Passive income on the other hand is when you don't even work or with little effort, you still earn.
Thus, learning how to earn passive income is the key in having multiple income or cash inflow streams. Sources of passive income come from businesses and investments.
Read more »
Thus, learning how to earn passive income is the key in having multiple income or cash inflow streams. Sources of passive income come from businesses and investments.
4 Sources of Income to Increase your Cash Inflow
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