There are eight kinds of additional income for employees that we can maximize. We should not only focus on finding additional income, but also have to
What way do we mean? Find out more in the following article, OK!
Summary
- There are eight kinds of additional income for employees that we can maximize.
- We should not only focus on finding additional income, but also have to fix our financial habits.
How to Add Additional Income for Employees Apart from Side Hustle
Feeling fed up with situations that are just like that sometimes makes us subconsciously type 'How to increase additional income for employees' on our cellphones.
In fact, we ourselves know that most of the results that come out are answers that we already know, and some of which we have tried.
The hope for another answer that maybe we've never tried wells up in our chest, making us focus on staring at the cellphone screen, changing from one page to another.
But nothing. Everything is the same, only the packaging is different. Then, you sigh, losing the motivation to change your ill-fated financial situation.
In this article, we will provide information that you might use as enlightenment.
Sometimes, increasing income is not just having an additional job outside of the main job, or an online shop business that is spread across various social media.
Because there are actually eight kinds of additional income for employees that you can maximize, including:
1. Earned Income
Earned income is your main income, namely monthly salary, which is included in the active income category.
You can maximize your earned income by investing your neck up, improving skills related to your main job so that your performance will increase, and get the opportunity to increase your position and salary.
2. Profit Income
This is the income you get from the difference between the selling price and the buying price.
This profit income is not only in the form of profits from selling online, but also trading, whose activities include stock trading, foreign currency trading, to gold trading.
If you want to increase your profit income, you can improve your trading skills by taking trading training that will teach you to become a professional trader.
3. Residual Income
Residual income is the income you get from a project, and you receive it when the project ends.
Examples of this income are jobs such as website developers, graphic design, house contractors that are paid in stages.
4. Capital Gain
The next income is capital gains. If you are an active investor, you may be familiar with this term.
Capital gain is the income you get when you manage to sell your stock ownership at a price greater than the price when you first bought it.
Of course, you can't do this rashly, because you need careful consideration before making a decision.
5. Dividend
Similar to capital gains, dividends are the income you get from your investment.
However, the difference between the two is that dividends are the income you get from the profit sharing of the company or issuer that you own shares.
The amount depends on the number of lots of shares you have. If you want to maximize dividend income, it means that you also have to have a large enough capital so that you can buy quite a lot of shares.
In the Future Value Annuity Due (FVAD) formula, there are four ways you can maximize investment income, including:
- Enlarge initial capital
- Enlarge investment every month
- Increase investment profit
- Extend investment period
6. Interest Income
Likewise interest income is included in investment income.
Interest income is the income you get from investment interest. Examples of instruments that give you income in the form of interest income include:
- P2P Lending
- Government Securities such as Retail State Bonds, SBR (Retail Savings Bonds)
- And others
7. Rental Income
Rental income is the income you get from renting out your belongings to other people.
This is an income that tends to be easy for you to pursue because you only need to rent out things that you already have.
Or, if you have a little more capital, you might be able to buy more items that are needed by your surroundings and then rent out.
8. Royalty Income
The last type of income is royalty income. Well, this income can be considered as income that is quite difficult for you to have because you must first have commercialized works.
The more your work is liked by many audiences, the more royalties you will get later.
Don't Just Focus on Earning Money
Many people are sometimes only focused on finding additional income, assuming that we will soon get rich just by doing one thing.
However, there is one thing that escapes our attention, namely by fixing our financial habits.
This financial habit not only reduces consumptive spending, but also includes other things, one of which is diligently recording finances.
Although it may seem trivial at times, keeping track of your finances will help you keep track of where each of your income is coming from, and where your money is going.
From there, you can finally make your own conclusions, what expenses are deemed unnecessary and can be reduced in size.
