earn passive income

Earn More Passive Income – Earning Multiple Streams of Income

Whether you are self-employed or employed by someone else, the economy determines your income by three things: your knowledge and abilities, your skills and experience. Your productivity depends on how effectively you use those things. And in today’s shaky global economy, those three things—your knowledge, skills and experience—have become more important than ever. In fact, many people now seek the help of a business coach to expand their knowledge and skills to increase their productivity.

If you have a rewarding second job that allows you to earn a decent income, why not do it full-time? It has always been my personal belief that the most rewarding way to earn more is to earn additional income from something that I already did well for myself. So when I say you can earn more by taking a second job, what I really mean is you can earn more by combining two careers into one. Let’s examine how that might be achieved.

Many people dream of getting out of the rat race and living the simple life of being a wage earner. The truth is that you cannot get out of the rat race without putting in the effort. To earn more, you must be willing to get started earning money right away. And the sooner you get started, the sooner you will earn enough money to achieve financial freedom.

Many people mistakenly believe that they can earn more if they just go to work each day, do the same task each day, and stay at their second job all day. The thinking goes like this: since I am paid for doing this, therefore I will go to work. And that is exactly wrong. Employers know how valuable an asset you are if you are willing to put in the effort to gain extra income. In fact, the best way to increase your earning potential is by combining your first job with your second.

By getting another job, you will be putting in the necessary time, effort, and money to make your primary income streams pay off. Let’s say you have a part-time job as a cashier and you make minimum wage. If you want to earn more than that, then you should start cashing in on your second income stream-your community college education.

Most people think that if they want to earn more, then they should get another college degree. But this is a bad idea. Why? Simply because you will not see a huge difference in your income when getting a second degree. All of the extra cash you earn will go to paying off your initial debt.

The best way to earn more passive income is to combine your first job with your secondary income stream. So if you want to earn more than one million dollars a year, then you need two jobs (or more if you are really lucky). After you have both of your jobs, you must learn how to maximize your earning power. This is where your knowledge of your skills will pay off because your employer will be paying you a lot more than you were making when you were working at your previous job. This is why it is important to combine your income streams-and by extension, your passive income.

A good example of maximizing your earning potential is by getting a higher-than-usual bonus at work. If you were to get a twenty percent raise, that means you will be earning thirty thousand dollars a year. Do you think your employer will give you all of that? Of course not. They would rather give you a five percent raise because you have a history of increasing productivity-which means, they will be getting more profit from you. The trick is to keep your employer interested; that is what earns you the top salary.

get rid off debts

10 Ways Get Rid Off Debts and Save Money

The economy is tough and it’s tough to save money, but you can do it if you just take five minutes out of each day and devote it to some money saving ideas. Use these money saving suggestions to make brilliant ideas on how to save money on your daily life. Get Rid of Your Debt. Set realistic savings goals. Pay yourself first.

  1. Stop Smoking. Take a “staycation” and stop smoking. It’s easy to find cigarettes for just a few dollars in any drugstore. Why should you spend time and money on those cigarettes when you don’t even need them? Spend that money on something else, like a new pair of boots or a frugal item you could really use.
  2. Learn to Save Money. The economy is tough because people need to save more money, but not everyone is able to save as much as they need to. If you’re earning a moderate income, you need to learn how to save so you don’t have to spend so much on things you don’t really need and so you don’t spend more than you should. To earn more, spend less – learn this now. Don’t waste your money on non-essentials when you could be saving it to improve your situation in the future.
  3. Invest in Yourself. You can’t build your life without investment; your future depends on it. When you invest, you save money for retirement, health care, or education. And make sure you save big. There are lots of ways to save big; invest your money in real estate, the stock market, bonds, savings accounts, and more.
  4. Go Shopping. Shopping is one of the easiest ways to save big. There are always great sales, even in the dead of winter. Look for the good sales, go ahead and buy whatever you like, and then use your credit cards to pay for it later. If you know where to look, you can save a lot of money this way.
  5. Get a Roomie Pillow. If you sleep well, you can save money at night because a pillow can really increase your space saving ability. If you want to save big, get a roomie pillow so you can sleep like a log.
  6. Reduce Your Time. Some people waste time watching television. This might be a good idea at times, but not all the time. If you want to save money, get rid of the TV. It is a waste of time and will only consume your precious time, which you could use for something else. You might also want to save time by reducing your vehicle trips and take the bus or train instead.
  7. Save Money on Food. Eating out is alright but you can also save money by eating home cooked food. There are many ways you can cut back on eating out. You can cook at home or in the microwave instead of cooking in a restaurant. It might take some time to get used to it, but once you get used to eating home cooked food, you will save big on your meal expense.
  8. Save Money on Clothing. Clothes can be expensive especially when it comes to department store brands. There are a lot of ways that you can save big on clothes. You can save big on your shoes by walking around the block a few times before shopping. You can also try on shoes in the shoe store and then buy them from the shelf. You will notice that you save big when it comes to clothing.
  9. Save Money on Entertainment. Do you have any idea how much time we spend in front of the television or video games? Not only does entertainment consume your time, it also depletes your energy levels and you might not be able to have enough sleep every night. It is important to save time for activities that will improve your health. So if you want to save big, join a gym so you can exercise more and save time by working out.
  10. Don’t Forget to Save Money on Travel. Going out to a fancy restaurant is nice but what if you don’t have any cash to pay for it? You can always borrow money from your friends or family. If you need to travel a lot, you can save big by booking hotel rooms in advance and buying plane tickets in bulk. When you save big, you can afford to splurge on those nice restaurants or that luxury vacation you’ve been dreaming of for years.

Even if you don’t have any extra cash at the moment, just following these three tips can help you save money all the time. You can even combine them if you want to save even more. Just keep saving till you have enough to spend. Before you know it, your savings will have paid for you already.