Having multiple sources of income today is a smart move. If you think that single employment would allow you to become rich or to have sufficient savings, then you should take a good look at how sensitive the world economy is and where you fit in it. An extra source of income is not only a fall-back just in case the full-time employment disappears. It is a driver to increase financial gains, a smart move to become more financially stable and capable. An extra income increases security because only a single source can be risky – unless this single source of income is a multi-billion dollar company that rakes in millions of dollars every month.
But even the most formidable companies that rule the business world have differentiation when it comes to what they sell. They also consistently expand and seek new markets. If such companies do this for the sake of stability, and continuous income and growth – then why should not an individual follow suit? Multiple sources of income increase financial growth open new opportunities to maximize talents and skills and add a layer of financial security.
While there are various choices, it is important to note that the extra source of income should be sustainable and easy. It should be sustainable in a sense that it can be maintained for a long period of time, even as a side hustle, and that it can earn even while you are asleep. Given that you could already have another full-time job, this extra source of income should not take too much of your effort or time. It should also be easy; meaning, it should also be aligned to your interest and passions. It should also be the kind that anyone can help you with.
Rental property. This is perhaps one of the attainable passive income ideas that you can have. If you have a good space in your house, then you may want to have someone rent this. If your space is as good as it can get, then you may want to register this in online platforms for short-term or long-term rents. If you have money to spend, you can even buy an apartment and put this up for leasing.
Home services/deliveries. If you have some special skills or interest in cooking or car repairing, then why not sell your services in your local neighborhood? You can try home deliveries for home-cooked food and treats, babysitting, house cleaning, or car repairing. The capital for these local side hustles is nearly zero. You don’t need to travel far even, because your “clients” are your neighbors.
Make money from hobbies. What are your interests and hobbies? If you take great pictures, then you can try selling your works online. There are companies that are willing to buy good pieces while you earn from a royalty. There are even online platforms that can help you find clients. They will appropriate the royalties you could get based on the arrangement with the clients. Do you have a skill in dancing? Why not try being a dance instructor for your neighbor’s kids? Make your hobbies count. Not only would you have extra income, but you can also enjoy it in the process.
Online selling. This is popular nowadays, and some online platforms make it easy for you to be a seller online. The best thing about this option is that you would not need a physical space that could cost you. You simply have to register yourself as a seller online in order to reach an audience. Do you have your own products like homemade soap or customized perfume? Can you do personalized planners? The better. People who buy products online are always looking for variety. Another advantage of this option is that marketing and promoting your products will also cost zero. You can simply market your products using social media platforms and blogs. Not only can you reach a wide audience, but your marketing ventures also won’t cost you a single cent.
Buy-and-sell from small-scale and local producers. One of these days, you might find the interest to travel in an area occupied by an indigenous community. If you do, do so not just for leisure and sight-seeing. Do so as an integration and business trip. Indigenous communities have unique products that do not make it to the main markets due to the unavailability of farm-to-market roads. You may want to make a partnership with the community in order to sell their products. This is, of course, not only a buy-and-sell. This could be a long-term relationship wherein you can help promote the local culture by helping the community’s products reach a
wider audience. This provides an opportunity for local producers to earn more. It also provides you an opportunity for extra income.
But why shouldn’t you? Sometimes people think that when you want to become rich, it means that you want to be greedy. Being rich does not always mean having so much money to buy anything that money can buy. Being rich can simply mean having enough to be worry-free of any other costs in the world. It could only mean stability. It could also mean having enough to provide for oneself and one’s family. Money can be a source of happiness. It is true that you can’t buy happiness.
But just because you want to become rich would also mean that you want to buy happiness. Being rich is a gray area. It is a neutral ground with varying reasons. One thing is sure – being rich is not evil. So if someone wants to become rich, it should be welcomed. Everybody has their own reason. Including you. If you want to be rich, then you should welcome this with open arms. But just in case you are still on a crossroads, then here are the top five reasons why you should become rich.
Success and Income. As simple as that. Many people want to be rich because this is the pinnacle of success. A stable income does not come smoothly. To attain this would be like winning a battlefield. Many people want to be rich because this is their marker of success – not because they simply want to buy everything that they could. This is money for its value, not for its exchange value. There is nothing wrong about wanting to be rich in order to be deemed successful. The simple golden rule is that you should have any ill will against your fellow man. You should not do anything to harm or to step on the dignity of others just to be rich. It is all in karma. If you are successful with a high income, happy, and content with this achievement – then you should be fine. Take away the pretext that money is evil. How you use your money and success is what matters. Simply desiring to become rich does not make you the bad guy of a real-life telenovela.
Wealth and Comfort. If a person has lots of money, does this already mean that he/she is wealthy? No. Wealth is not merely measured by the cash flow. Wealth also counts the intangible aspects like good health and leisure time. This can mean the comfort gained from having a nice home and the ability to afford the finer things in life. By having this kind of comfort, the person becomes wealthy in terms of lifestyle. Wealth is not only measured by numbers with a dollar sign. In fact, it is measured by the comfort, contentment, and happiness that comes after the dollar sign. It is the sweet experience gained from being rich. It is more intangible than tangible. This is the value gained from having the capacity to afford what is desired.
Providing for the Family. Everybody wishes that their loved ones would have a comfortable life. This is the reason why people work and toil, struggle to be on time for work, and fill the monthly savings. It boils down to the ultimate goal – people do not want their family to starve. In fact, providing for basic needs is one thing, but providing for better things is another. People always develop in a spiral growth. They do not stop with the necessities. People want leisure and lifestyle – other things in the world that they want, and maybe not really need such as a yacht, a private jet, a sushi maker, or a color-changing mug. In other words, people are creative creatures who are always seeking change and development. Providing for the needs will not be enough. Providing for the wants will always be in the equation. People who work will always want to improve the things and aspects – tangible and intangible – that they can
provide for the family. With money, the options are widened. The finer things can be accessed. For instance, instead of buying a one-storey house, a rich person can upgrade to a five-storey house.
You Make an Impact. This is because you gain more options when you become rich. You have, in your hands (and bank account), the capacity to take control of a situation. People who have less have little choices. This is the reason why they adjust to whatever system and situation that they are in. But a rich person has the capacity to control his/her material reality – and this is important in the world we are living in today. Imagine a natural disaster that struck the district that you are living in, and you want to help those who have lost their homes. If you have funds to spare, you can help as much as you want to. And this will be a great help for those people who have less. You share your wealth with others – the comfort and security of having something to provide. If you have deep compassion for orphans, then why not build an orphanage or donate to an orphanage? You have the luxury to make an impact in the lives of others. Above all else, this becomes the greatest advantage of being rich.
Because You Want to Grow. When you are rich, you have more to invest. It is in human nature to be constantly seeking for development. Nothing is stagnant. Everything moves. This includes human instincts and desire to improve more. Being rich means that you would have more rooms to improve yourself and surpass what others could not because they have less. Never stop in self-improvement and development. If you have a lot to spend, you can discover new talents, skills, and hobbies such as mountain-climbing, painting, playing musical instruments – and even writing your own book. Being rich gives you the time and resources to reach a higher sense of fulfillment.