Adding Additional Income Streams

Why is it important to add additional income streams?

First, understand the 3 incomes available.

1. Earned income
2. Passive income
3. Paper income
   

If your only income comes from work alone, then your salary after taxes and CPF is your only income.

Earned income comes from putting in time and then getting money as salary. This is the most difficult to earn sector but is widely accepted.

Earned income :

• A doctor with his own clinic who receives a paycheck.
  
• A labourer working in a construction yard depending on monthly payments.
• A self-employed boss selling shoes in his own shop.

The essential basis is, If you have to put in a linear amount of time for a linear amount of repayment, that is a earned income. If a doctor falls sick and is unable to work, he receives no income, that is, put in time and you'll have money. The problems associated with this is that, as we get older, our productivity slows, and we take more time to do the same things. Working for earned income at 20 years old does not pay the same rate as working when you're 60 years old. Earned income is not forever.

Passive income is income that comes to you without you doing anything related. This is the desired form of income.

Passive income:

• Owning a house and renting it out.
• Owning a self-operating business.
• Owning network marketing with networks big enough to sustain itself
• Owning a royalty in terms of books and patented products
• Bonds with dividends
• Stocks that pay dividends
  

I'll talk more about passive income when I come to it in this post. This is also the area where I'm developing. When you achieve Passive income larger than your monthly expenses, you achieve financial independence.

Paper Income refers to stocks, bonds and derivatives like mutual funds. These include options, warrants. This is an area where money becomes volatile, but they may earn a lot. They may require time as research about companies should be done pior to buying a stock.

Talking about passive income, Ive been trying to build it, and this recently, I've joined 2 programmes, One is by EmailCashPro and another is a pilot programme named MySMSads. Why? It's because once I get it on track, It becomes totally passive income.

Why join them? Firstly they're free. True, maybe that amount of money they do compensate is low, maybe a few cents a week, but they're still free to join. There is that potential to be tapped, free money exists there.

But why still join them? They're firstly not difficult to get started on, and all they require is you read their emails and sms, things you would do anyway. In fact, it was through EmailCashPro that I got to learn about MySMSads.

Both require a minimum sum to withdraw, meaning once you do withdraw, It's basically $10 or $20 bucks in your hands. They add on 2 additional streams of income into my pocket and that's cool, I mean, even if I make $1 a day, it's still money and it's good to have.

These are the links.

MySMSads

EmailCashPro

For one dollar a day, I get $365 a year, doing what? Just reading mails. Compare this with people who work $5 per hour at McDonald doing actually something. Reading Mails and SMS while I'm on the go, is actually not penalizing myself from time i have, but to utilize time otherwise left out AND at the same time make a small bit of money, What's wrong with that? It's in fact so good, where you don't even have to come out a single cent for this opportunity!

If you are thinking that it may not work for you, I'll be so sad to say you might really be missing one good stuff, that's why you should also experience it, since it's free!

For your convenience, these are the links to both of them.

MySMSads

EmailCashPro