13 min. reading

Updated: 01/08/2018

Multiple sources of income is a phrase that migrated into our vocabulary from books on personal finance by foreign authors. In this publication, I would like to talk a little about how, in modern realities, an ordinary person can create additional multiple sources of income and what benefits they will bring.

Previously, I always believed that I needed to find a good, well-paid job and work for the good of the Motherland, climbing the career ladder. And I thought so until the company was sold and reorganization began. The new management of the company decided to optimize many processes, and therefore it was decided to lay off some employees.

My career was suddenly in jeopardy. My way of life was under threat. After all, I was used to consistently receiving my thousand dollars, on which I lived as I wanted. I suddenly realized that my stability was in the hands of other people. Their decision depended on whether I would go to my favorite sushi bar next month, whether I would be able to buy new sneakers, whether I would go on vacation.

It was then that I thought about the fact that I needed insurance. Cash insurance. I realized that I needed additional sources of income that would insure each other in case one of the sources dried up.

I began to actively look for such and work on them. Some of these sources lie literally under our feet. But many people don't notice them. Or they don't understand the point.

If you look at everyday things from a different perspective, namely from the perspective of multiple sources of income, you will find solutions to many financial problems.

Basic Concepts

First you need to identify all your money streams, which, when collected together, form your financial river. Personally, I'm a huge fan of this approach to the topic of multiple income streams. And I constantly work in two directions:

• Increasing multiple sources of income
• Increasing the depth (width) of each source of income

Our personal record (mine and my wife’s) for the number of multiple sources of income created is 10. This means that we had ten sources of income at the same time.

Types of Multiple Sources of Income

I propose to get acquainted with them, using my personal example:

1. My main job;
2. Wife's main job;
3. Additional work: Preparation of photo reports for an advertising company;
4. Additional work: Mystery shopper;
5. Own small business (tanning studio);
6. Rental Property;
7. Inconsistent earnings.

And this is what my list of income sources looks like now:

1. Income from Yandex.Direct and Google Adwords contextual advertising placed on the blog;
2. Income from banners placed on the blog (see also:);
3. Income from Nolix advertising line posted on the blog;
4. Income from affiliate programs;
5. Income from webinars;
6. Income from the sale of information products;
7. Income from consultations on developing your own blog, making money on it, investing;
8. Income from coaching and mentoring;
9. Income from the online store MisterSaver.ru;
10. Wife’s income (she recently launched a small project on social networks selling stylish shoes from the USA);
11. Child benefits (for a child, the wife receives social payments during maternity leave);
12. Inconsistent earnings.

As you understand, together all these sources of income bring good income. And most importantly, I am insured. If something happens to one source (it runs out), then I always have a bunch of others that will not let me die of hunger.

Moreover, I have in mind several dozen more options for creating additional sources of income for which I simply don’t have enough time right now. I say this to mean that even if all the listed sources of income suddenly “bend” and cease to exist, then I will begin to earn money in other ways that will replace those that existed.

Where do all these ideas come from?

It's actually simple. Creating sources of income online required me to develop various skills. For example, I learned how to write articles for this site. This is called copywriting, see the article on this topic, which will also teach you how to make money on the Internet by writing various texts to order:

I can also create high-quality contextual advertising. This is also what I learned in the process of creating the income streams listed above. Now I place contextual advertising for my projects. But if something happens to them, I can easily find a job and promote other people’s projects using Yandex.Direct and Google Adwords.

For me it's a continuous process. I'm constantly looking for somewhere to earn extra money. I am always interested in different, new opportunities for obtaining multiple sources of income. This is called increasing the number of sources of income.

Increasing the depth of each income source means working to increase the income from a specific source. For example, if you have a deposit in a bank, then regularly set aside an additional amount of money from your main sources and increase the deposit amount. This will allow you to receive a greater return on your deposit. Yes, yes, you can also earn money on bank deposits.

Today there are a huge number of different possibilities. It's all about you! How lazy are you to take care of your future? I have many friends who have a lot of free time, but use this time poorly. They're just stupidly messing around.

My position on this issue is this: create conditions for yourself to be idle. Create a passive source of income that will more than cover all your current expenses, and then do what you want. That is why I work a lot now so that I can work little later in the future. I understand that except for myself, no one can change fate. There will be more time for rest, but for now I will work. Moreover, I enjoy it

THERE IS NO WORD I CAN’T, THERE IS A WORD I DON’T WANT!

When someone tells me that I can’t or that I’m not like you, I understand that a person simply does not want to change his life and his destiny. This is a person who lives in illusions and hopes that someday the time will come and his whole life will change with the wave of a magic wand. I'm not like that!

Open books, the Internet, newspapers for free advertisements. Chat with friends not about how cool you were drinking all weekend, but about where and how you can make money. Try it, do it

There are no mistakes in life, only lessons. There is no such thing as a negative experience, only opportunities to grow, learn and move forward along the road of self-improvement. Strength comes from struggle. Even pain can be a wonderful teacher. (Robin Sharma, The Monk Who Sold His Ferrari)

How to Create Multiple Streams of Income

Before we begin to create multiple sources of income, we need to understand and decide how to do it correctly, what to spend our energy on at the beginning of the journey, and what on later.

We need to have a map of the area on hand that will help us get from point A to point B in the shortest possible way.

People's time is limited, as well as their strength and resources (by resources we mean connections, acquaintances). If hired work alone takes 8-12 hours a day, then there is simply no time or energy left for anything else.

Therefore you must understand that creating multiple sources of income is an art, which implies having an action plan, the ability to set priorities, a strategy for achieving goals, and many other skills and abilities.

Proper use of these skills turns the process of creating multiple sources of income into an art that is no less enjoyable than participating in sports, going to the ballet, going to the theater, watching a movie, or attending a concert of a popular rock band.

Step #1: Foundation as main work

So where should you start creating multiple streams of income?

First of all, it is necessary move from simple to complex. One of the characteristics of Russian people is that we want to get everything at once. We don’t like to wait, we don’t like to deny ourselves something, we want everything at once.

You need to understand that such a position is harmful and will not give you anything good. Yes, there are exceptions to the rules. However, each case must be considered in detail. And if you have examples where people created a lot of capital for themselves in a short period of time through several sources of income, then you need to understand the details of what helped them.

Often we don't see the real facts that helped people take off. Some received support from family or friends, some found themselves in the right place at the right time, some are not afraid to take risks, etc.

Building Multiple Streams of Income Starts with the Foundation. And most often this foundation is hired work. Working for your uncle is a linear source of income; it can be compared to a shovel. While we are digging, the income is coming in; as soon as we sit down to rest and put the shovel down, the income stops coming. There is also passive income, which, unlike linear income, is similar to an automatic mechanism. Once configured, it then works fully automatically. We'll talk more about passive income in the next section.

For me personally, the construction of my profitable streams began with hired work. I was 20 years old, I didn’t know and didn’t know how to make money.

Pay attention to these words. You need to be able to earn money. And the more versatile you are at doing this, the more sources of income you can create!

When you are 20 years old and you are a student who spent all the previous years hanging on to your parents, is it worth talking about? about the ability to make money? This skill does not exist and needs to be learned. Of course, there are people who start earning money at the age of 15-16, and even earlier.

This is not about this now, but about the fact that if you do not know how to create several sources of income, then start with one. The easiest option in this case is to find a hired job.

Hiring work will be your first source of knowledge about making money and it will give you the opportunity to create some savings, with the help of which you will subsequently be able to create new sources of income. , it was this that helped me find a high-paying job.

As noted above, hired work takes a lot of time, which has a significant impact on the creation of the following ways to earn money. This can be a barrier to building multiple sources of income.

And in such a situation, it would be optimal to turn your attention to such sources of income, which are called passive.

Step #2: Passive Income Sources

Passive sources of income work for you. Having spent your efforts once, then you will only reap the benefits of your activities.

An example can be given. For example, you are employed and you have practically no free time to create new sources of income. You can save a couple of thousand rubles from your salary and...

Then, you can forget about this deposit until the next month, when you receive your salary again and you will have the opportunity to put another thousand rubles into the bank, for example.

That is, as you understand, you do not need to worry about this type of income every day. will work for you around the clock, without breaks or weekends. He will generate new money for you, this is his passivity.

This way you will already have two sources of income, after which you move on to considering the next option.

But when choosing the next way to earn money, you also start from your capabilities, from existing circumstances, such as hired work, family, children, etc.

You can continue to dig further into investments and play with more complex financial instruments, for example. Or look for new ways to make money in some completely new topic, for example, start in your free time from your main job.

As a result, starting with one type of income, from hired work, you need to gradually create new sources of income that will increase your income. Income growth may not be observed immediately. But in any case, your total capital should constantly increase. By capital in this situation we mean not only money.

For example, when I started creating multiple sources of income, for a long time my main source of income was work. For several years, I saved some money from each salary.

I distributed the set aside money to various, among which were,,. Also, I used part of the money to buy something for myself. So I subsequently bought a car.

I had no money saved in its pure form. I had a car, as well as an agreement with financial institutions and statements indicating that I had deposited funds into their account.

In this example, it was not the money that was capital, but what I invested it in. And every day the amount of my capital changed in proportion to the value of the financial instruments in which I had invested money.

The same car was losing value every day. The price of shares rose and fell. The bank deposit increased regularly, etc.

As you understand, I started small, with the first thousand rubles set aside, which over time turned into a million, which I wrote about.

To consolidate our understanding of capital, I will give another example from my own practice. In 2007, I worked as an ordinary manager in a telecommunications company. I worked there for about 3 years, I had a good salary, but there was no career growth.

It so happened that our parent company changed management, which began the reorganization of the entire enterprise. Once my manager called me and warned me that layoffs were coming and I would be one of the first candidates for relegation due to the fact that...

At the same time, the manager added that he would be glad to lay off someone else, since there were less useful employees in our department, but he would not be able to do this, since the head management, in order to reduce costs and not pay compensation, would first of all lay off those people who does not comply with job descriptions.

In general, it didn’t matter to them who to lay off. It was important for them to reduce costs at any cost. At that moment, I had a turning point that radically affected my attitude towards hired work and my entire subsequent fate.

I realized that no matter how good an employee you are, it will not help you keep your job. Your destiny and career will always be at risk.

And then I decided to start my own business, so as not to depend on someone

When I found a business idea that was interesting to me, in order to bring it to life I had to cut off the head of all other sources of income.

I quit my paid job without waiting for the shameful layoff. I sold all mine and took the money out. It turned out to be a tidy sum with which I opened a small tanning studio.

I rented a room where I did some cosmetic renovations. I purchased the necessary equipment. I invited specialists who installed everything for me, set it up and started working for themselves.

Before we continue, I need to make a small digression, since initially we are talking about creating multiple sources of income. then flexibility is needed in this matter. Sometimes there are moments when you focus on one thing. Sometimes you can churn out one source of income after another.

The ideal option is when you create some kind of source of income, which can then work without your active participation. This will make it much easier for you to create one source of income after another. You will have time and money for this.

Life can change. Various circumstances, your principles, outlook on life, etc. may change. The same can happen with your sources of income.

Let's go back to the tanning studio. The first month after the opening, my wife and I worked together in this studio. Then we established a stable flow of clients and calculated that we could very well hire several operators who would work for us.

By hiring two young girls, we began to earn less from this source of income, but we freed up a lot of time, which allowed us to create new sources of income.

Thus, we created a new source of income and built a work scheme in which it was enough for us to stop by once a week for revenue.

Next, I decided to find myself another hired job and combine it with my business. Why did I decide this? Because in that situation I had no other options. I didn’t have the means to create a new business. And any other new source of income requires money one way or another.

The fundamental changes that happened to me earlier told me that this would be a temporary option until I saved up money to create another business or increased the profitability of the first one.

By the way, the tanning studio did not bring me much income. Something around 30,000 rubles. I made about the same amount when I worked as an ordinary manager at a telecommunications company.

I am writing this so that you understand another reason for looking for a job. Many people imagine an ideal picture of the future, one where they don’t have to work, where they have enough money to live happily. I'm not an exception. But as you understand, a business income of 30,000 rubles will not allow you to realize this ideal picture of the future.

At the same time, the business I created gave me a great sense of calm and peace. I had a completely different experience when looking for a job. If earlier, when I did not have such powerful financial support in the form of a tanning studio, at times when I was left without work, then pressing circumstances from all sides prompted me to look for any job as soon as possible.

What circumstances are we talking about?

• Food;
• Paying for a roof over your head;
• Cloth;
• Transport;
• Opinion of others;
• Etc.

When a person does not have money to support himself, he will clutch at any straw. After all, every person has a list of some kind of financial dependencies.

We all eat and drink every day, we need to pay or rent an apartment, we need to somehow get around on business. No less important is the pressure others put on us. After all, when we are not working, we have to get money from somewhere and most often on such days we live off the funds of our relatives, who soon begin to look at us wryly if we cannot find work for a long time.

All this leads to the fact that we are in a dependent position when looking for work. We don’t choose work, but work chooses us.

When you have some additional source of income that can provide insurance in difficult situations, then everything changes exactly the opposite. You can calmly search for the job option you need. It is no longer your job that chooses you, but you who choose your job and can dictate your terms to it.

This is what happened to me at that moment. I firmly decided for myself that I did not want to work as an ordinary specialist. I wanted to take a leadership position. I had many reasons for this:

• First, executives get paid more.
• Secondly, managers have greater freedom compared to subordinates. Ordinary employees have to coordinate their every step with their manager. The manager can determine his own work plan. I needed a greater level of freedom in order to control my existing business.
• Thirdly, I needed experience managing people. Since at that time I already had two operators in the tanning studio, I was actually already the manager. Therefore, I wanted to develop my skills and abilities in this area.

As a result, I was hired...at a bank! And not just anyone, but the head of the lending department.

We were selling bank loan products. I had about 6 people subordinate to me.

Thus, the tanning studio brought me about 30,000 rubles + hired work gave me about 45,000 rubles more. At that time I was already married. The wife earned about 25,000 rubles more. In the same year, we took out a mortgage for the apartment, which we began to rent out, which brought us about another 18,000 rubles, but this money can not be counted, since it was used to pay off the loan.

All these sources of income allowed us to save about 30,000 rubles monthly. Well, as you understand, we created new sources of income with them: we bought shares again, invested money in mutual funds, put part of the funds in bank deposits, etc.

As you can see, I started creating multiple sources of income from one, from work for hire, brought them to several sources (about 6-8), then in order to create my own business, read a new source of income, I sold and abandoned all multiple sources, which I had before.

Then I again created one source of income, thanks to which I later increased the number of sources of income to 10.

Based on this, we can draw the following conclusion: you don’t need to get hung up on a large number of sources of income. That's not the goal. We create multiple sources of income just so that we have a positive difference between income and expenses.

It is important that at the end of the month you have extra money left, which can later be used to create additional income, which will allow you to achieve financial independence and freedom.

Conclusion

Most people live paycheck to paycheck. They don't have enough money to live, they're all in . What kind of financial independence can we talk about? Although each of them dreams of not working, living for their own pleasure, traveling, dressing beautifully, in general - not denying themselves anything.

Multiple sources of income will help us with this.

There may be 10 of them, which together will bring you 300,000 rubles monthly, or maybe 1, which will bring you 500,000 rubles monthly.

No need to chase quantity. It's better to chase quality. You can create one source of income, the main thing is that it gives as much profit as possible. It is equally important what kind of income it will be - linear or passive. The priority is passive income, which will free up a lot of time for you. This time can be spent on your favorite things, health, children, hobbies.

When you have extra money, you will still need to put it somewhere. The first option is to spend it all, as most people do. The second option is to invest it in something that will create new money for you.

That is, the model of creating multiple sources of income in the second case is inevitable.

Another purpose of creating multiple streams of income is safety and security. The fact is that when you have one source of income, you take a lot of risk. Once it runs out, your normal life will be in jeopardy.

If you have several sources of income, then you will not be afraid of any crisis. If you are laid off from your main job, you will not starve, as other sources of income will save you.

P.S. I look forward to your multiple sources of income in the comments. If they are not there, then write what you could do in this direction...

In books on personal finance published by foreign authors, the phrase is often found - multiple sources of income . However, how can an average person create multiple financial sources, and will they benefit him?

People all over the world want stability and financial independence. Only in Russia and in the West do people put different meanings into these concepts. For Russians, stability means a well-paid job for life, but in the current conditions of our economy, no one can guarantee stable work and high salaries.

Age of Aquarius. Solving material issues

Westerner's Confidence- this is the presence of capital, which is created over a long period of time by investing in multiple and separate financial sources. Every month they save 10-20% of their earnings by purchasing securities, making deposits, and so on. They are actively studying new specialties and in their free time they are engaged in developing their own business on the Internet.

Many people, out of habit, believe that one main job is necessary in life. It is enough just to climb the career ladder and receive an increasingly higher salary. But it happens that for some reason you are fired and this way of thinking comes to an end. We have to urgently think about how to provide for ourselves and our family.

It turns out that a person’s financial well-being largely depends not on himself, but on other people. You have to change your usual lifestyle. What to do in such a situation? There is a need to create multiple financial sources, they will be a kind of insurance in case one source is closed to you.

Various opportunities for additional income are actually in plain sight. People just don't pay attention to them. But, if you look at familiar things from a new angle, you can understand why multiple financial sources are needed. Once you start, you will immediately understand that your financial well-being is no longer so dependent on other people.

Classification of sources of income

First of all, you need to take into account all your financial sources, even the most insignificant ones. Next, you need to choose the direction in which you want to continue working. You can increase the number of financial sources; if you are able to switch from one type of activity to another, then this option is quite suitable for you.

Another option would be to expand existing sources. This is another rule of security and financial security. In this case, you will strive to receive even more profit from each source. You can do additional work, or increase your deposit.

First you need to decide which activities bring the most profit to you and your company. There is the “80/20” principle, which implies that just 20% of the total number of things you do makes up 80% of the value and significance of everything you do. So we need to determine what that most effective 20% is.

Whatever the answer, you should spend more time on those activities that are most rewarding and that produce the most significant results.

Then, determine which actions from the remaining 80% take more time and do not affect the final result at all. You need to reduce their volume and eliminate most of them.

If you use the above advice, soon your results, and, consequently, your earnings will increase significantly. Your work productivity will increase and you will be able to achieve more. You will be able to get more work done with a higher level of efficiency. You will be appreciated at work and promoted. By learning to do more work, you can increase not only your earnings, but also your leisure time, and your work productivity will increase.

What you need to know to create multiple sources

1. You need to find out the necessary information;
2. Think about what activity you should engage in;
3. Gain additional knowledge;
4. Apply them in the chosen area of ​​activity;
5. Do the necessary and significant things first;
6. See the ultimate goal of your activity: earn – save – increase.

You must also decide why you need to increase financial sources. What do you want to get: the opportunity to travel, provide for your family, buy a new car, and so on. Every day, ask yourself whether my efforts today will lead to the creation of multiple sources of profit. In principle, this is the best question to start with, because then it will become clear to you what you should do.

Types of Multiple Sources

There are two sources of income: active or linear And passive, residual. In the first case, money is earned by your labor, and passive income is when your business, investments, copyright, and so on bring you money.

Linear income is what we are all used to. Earnings from your main job are considered active income. All kinds of part-time jobs are also considered active: freelancing, business, etc. That is, this is a one-time reward for the work done. If you work, the profit comes in; if you stop working, the source stops making a profit.

Active Income Advantage:

• profit comes immediately after the work is completed;
• a more affordable income option for the majority;
• active income is easy to obtain.

Disadvantages of linear income:

• we stop working - there is no more profit;
• to earn money you need to make an effort and spend time;
• In hired work, the amount of profit depends not on us, but on the employer.

Passive source of income:

It is worth noting that many people receive active income, since this is the most common way to earn money. However, this is not the only way to make a profit; there is another way, more pleasant, well known among wealthy people. We are talking about passive income, in the creation of which you took part only once. Passive income can be an alternative or addition to an active source. As a rule, it takes a lot of time and effort to create a passive source, the level of which can be compared with the level of wages.

But, at the initial stage, while you are only accumulating initial capital, you can also use active sources to speed up this process, but it is better not to linger on them for long. Get rid of loans, form reserve capital and start creating assets.

Promising active sources

Linear sources include: main work, additional work, various part-time jobs, intermediary business, seminars, trainings, tutoring, etc.

1. Career also needs to be planned. Once you get a new job, be sure to explore all the opportunities for career growth in that company. Study what vacancies there are and the requirements for candidates for them;
2. Follow changes in the labor market, monitor salaries and determine which specialties are the most in demand. Study the scope of activity of these specialists;
3. Think about which promising companies you would like to work for. Interview them, find out what requirements they have for candidates and work on compliance. Let you be included in the personnel reserve;
4. Acquire new knowledge, skills, attend seminars and advanced classification courses. Be sure to inform your superiors about the knowledge you have gained, perhaps this will help you get a large, interesting project;
5. It is also worth noting that there is no need to quarrel with management. Of course, this does not always work out, but if you plan to advance in this company, then this rule must be followed;
6. If a promotion in this company is not expected, then you need to look for the next step for your career in a more promising company. Don’t waste time, don’t sit in one place, because time is your most valuable asset;
7. In addition to your main job, you should have time for additional work and part-time work. This could be consultations, private orders, tutoring, participation in other companies and projects - all this will allow you to expand your linear sources of income. Constantly look for new ways to earn money - create multiple financial sources;
8. You must remember that you have little time. If you are employed, then your employer will load you with work as much as possible. As a result, you will work a lot and earn little. This means we need to create something more profitable.

Linear sources of profit are characterized by quick results, which often leads to rapid addiction and dependence on them. Therefore, do not forget that your goal is not money, but the accumulation of initial capital to move to the next stage - creating passive sources. Control your expenses, accumulate reserve capital, expand your knowledge and skills and wait for your time to come.

According to financial guru Robert Kiyosaki, the only difference between rich and poor is how they use their time. And it’s not about how much you can earn, but about what you can save. The rich spend their money on buying assets. The poor only have expenses. And the middle class thinks that it is acquiring assets, but in the end it receives only liabilities.

Robert Kiyosaki's Four Financial Sectors

Robert Kiyosaki classified sources of income into four sectors that help quickly determine what financial sources different people have. Each sector is designated by a specific letter: sector “E”; sector “S”; sector “B”; sector “I”. Where E is an employee, S is a self-employed person, B is the owner of his own business and I is an investor.

Four financial sectors

Sector	Description
Sector E	In sector “E” there are people who profit from hired labor, that is, people who work for a salary and are dependent on their employer. For such people, quitting their job means losing their only financial source, that is, they begin to experience financial difficulties.
Sector S	In the “S” sector there are representatives of small businesses who independently provide themselves with work and income. These are small entrepreneurs, singers, musicians, tutors, consultants and so on. Such people are also dependent on their work, since, having lost their clients, they will be deprived of a financial source. But at the same time, they are more free and can decide for themselves how much time to spend on work, how to do it and how much money to charge for their services. In the first two sectors there are people who do some kind of work for money.
Sector B	In sector “B” there are owners of large businesses. At the same time, professionals and specialists from the “S” and “E” sectors can work for them. Therefore, sector B uses other people's time to make a profit, but the business owner must manage his own business.
Sector I	In sector “I” there are people with significant capital; this is where the biggest money flows. Investors not only use other people's time, but also their money. In this sector, people do not work for money, but money works for its owner.

In any case, creating multiple sources of income will help you take care in advance of doing something that interests you. But, at the same time, you need to remember that only those who have worked a lot before can rest. Nobody says that making profit from many sources is very easy. This is much more difficult than just working at one main job, but the benefits, if successful, correspond to the effort and time spent.

I understand about money. Peter Osipov

Robert Allen wrote “Multiple Sources of Income” for ordinary people who want to gain financial independence. The book is written in simple and understandable language, but you still have to get to the bottom of it. It should be noted that many readers around the world thank the author for such a useful and practical book. Let's try to briefly understand the brilliant ideas of R. Allen.

A little about the author

Today, Robert Allen is a well-known and sought-after financial advisor around the world. His books are read by millions of people. Many of his creations have gone through more than one edition. The author's success regularly increases, as each new book becomes an absolute bestseller. R. Allen is invited to various television shows, where he not only shares his wealth of experience, but also talks a little about himself. He publishes many of his articles in leading English-language magazines. Over the past 20 years, he has taught thousands of seminars on the topic of financial planning and wellness.

Who is the book intended for?

I would like to note that Robert Allen’s book “Multiple Sources of Income” should first of all be read by those who are interested in investing. Of course, the issues discussed in the book will be useful to absolutely everyone. Modern business consultants advise beginners to start by reading this book. It will provide an understanding of the basics, but should not be considered a textbook on investing. The main feature of the book is its clear focus on practice.

Why aren't all people rich?

This is one of the questions the author asks readers. He explains that many people come into contact with approximately the same amount of money throughout their lives. At the same time, someone becomes fabulously rich, while others are left with nothing. What is the problem? The point is that some people simply do not have the knowledge of how to properly handle money. Those few who are interested in this and try to learn important rules achieve much greater financial well-being. Multiple Streams of Income invites readers to learn the basic money skills they need to use in everyday life.

Appreciate

The main skill that the author promotes is the ability to handle money correctly. He tells how to learn this in the book. R. Allen emphasizes that you should not treat money as a simple means of payment, because its capabilities are much greater. The first principle involves the value of money. It is very important to appreciate and understand their capabilities. Money is not only a means of payment; it is, figuratively speaking, a seed that needs to be planted correctly. The book “Multiple Sources of Income” talks about how proper investment of money and the compound interest formula can provide a person with a decent living. However, to invest money, you first need to save it. The ability to value money will help with this. It is very important to understand that the budget should be allocated accurately and in advance, but you should also have some funds for unforeseen situations. If you manage money correctly and value it, you can quickly accumulate the necessary amount, which in the future will begin to generate profit.

Control

Allen's book “Multiple Sources of Income” should also be read by those who have difficulty saving money and distributing it correctly. The important advice that the author gives is that you need to keep regular financial records. This simple action will allow you to avoid unnecessary expenses, create a spending plan and analyze unnecessary expenses. R. Allen pays special attention to the issue of the attitude of rich people to money. In fact, the idea that rich people buy everything they want completely thoughtlessly and impulsively is a stereotype. Of course, billionaires can afford it, but rich, wealthy people simply do things differently. They plan their budget, trying to buy quality items at the lowest price. The author points out that a wide planning horizon can significantly reduce costs. You can check this easily. It is enough to keep simple cash records for at least a month, buying only those goods that are necessary. You need to purchase them in the most profitable stores, taking into account promotions and sales.

Saving

In his book Multiple Streams of Income, Robert Allen pays great attention to the issue of savings. This is indeed a very voluminous topic. If you master the art of saving, you can achieve significant heights. The author offers two ways to save money. The first is that you need to save 10% of all income. This method is really rational and very popular. Thus, a person learns to plan his expenses taking into account the 10% that cannot be taken into account. Moreover, you can simply activate this function on your salary card. Then the withdrawal of 10% will occur automatically.

The second way is to reduce costs by expanding the planning horizon. The money saved should be put into a bank account. Under no circumstances should you store them “under your pillow,” as then the temptation to spend money on something “very necessary” will be much greater. The author emphasizes that saving money is much easier than earning it.

Income

R. Allen wrote “Multiple Sources of Income” in simple language. If there are unclear definitions in the text, the author gives them clear explanations. The book tells that the secret of people's wealth is not that they have a lot of money - it is that they know how to create sources of residual or passive income for themselves. This allows you to free up time for your main activity. Moreover, situations can be different: you can get sick, go on vacation, or be absent on important matters. Despite possible circumstances, there will still be passive income. The author criticizes the linear approach to making money and compares it to walking on an escalator that moves in the opposite direction. To earn more money, a person needs to work more or more productively. Either way, it means you need to put in more effort to get better results. But even with this, the additional money will still be constantly decreasing due to rising tax rates, intensifying inflationary processes, etc.

In the book “Multiple Sources of Income,” the author compares earning passive income to moving along an ascending escalator. While the person is simply standing, the escalator itself lifts him up.

9 important criteria

The book “Multiple Sources of Income” offers readers 9 main criteria according to which it is worth starting your own business.

1. When starting your own business, you must have two sources of income. It is desirable that one of them is already residual. It is necessary to analyze the potential of the planned enterprise, as well as the possibility of creating new sources of income on its basis.
2. The quality of the products or services you will sell is important. This will attract buyers and new clients who will trust the rave reviews from their friends and colleagues. At the initial stage, it is important to keep the price reasonable.
3. You should try to get by with a minimum of personal investment.
4. It is advisable to work without hired personnel. This will allow you to avoid various legal proceedings, wage costs, etc. If necessary, it is better to use the services of specialists on a one-time basis.
5. Consider profitability. You shouldn't create a business for its own sake.
6. Do everything to ensure maximum residual income.
7. Determine whether your idea meets the modern world and its requirements.
8. Products or services must be in demand by the largest possible audience.
9. Attitude to work. It is very important to appreciate and love your business, because then it will bring not only great income, but also joy. It is she who will motivate you for further development.

Entrepreneurs

In the book “Multiple Sources of Income,” the author identifies 4 types of entrepreneurs.

The book “Multiple Sources of Income,” the contents of which we discussed above, is a high-quality and comprehensive guide to action for those who want to, but do not know how.

How to create passive income - 14 working methods + 12 tips for beginning businessmen.

To answer the question: how to create passive income, you need to understand how passive income mechanisms work, how money accumulates in your account, and also what to do in order to start earning money without investing your time and effort?

Features of creating passive income and its difference from active

The main difference between passive income and active income is that it does not require investment of time and labor.

The money arrives into the account by itself.

Of course, you will have to put in some effort to ensure that the profit flows into your account, but it pays off and brings you money in the future.

Active income requires constant work, visiting the workplace and performing one’s duties.

To receive passive income, you need to perform certain actions once to receive it.

Receipts will occur over a certain period of time.

To get rich, you must have at least 1-2 sources of passive income, in addition to the main income received from a permanent job.

Many people talk about this in their books and interviews.

When creating several sources of profit, you can completely leave your work activity “to your uncle” and start your own business.

How to create passive income: 14 best ideas

Create your own website or blog on the Internet and promote it.

In this case, passive income is achieved by paying for advertising.

On average, on one site, a beginner can earn about 12,000 rubles.

But you can sell a site where the total number of visitors exceeds 5,000 people for 200-250,000.

You can not only make passive money from this, but also build a highly profitable business.

An alternative to the website is maintaining a VKontakte group.

One well-promoted group can bring the owner from 8 to 15,000 rubles per month.

What if there are five such groups?

Selling your own seminars and training courses.

This option is suitable for those who have graduated from a higher educational institution and have a diploma with the right to teach.

The most difficult thing is recruiting listeners.

However, if the topic is interesting, people will find you.

To write a book.

Income from the work "royalty" goes to the author until the book is removed from sale.

Create an intelligent product.

For example, a computer program.

By obtaining a patent for it, you can also receive regular royalties from sales.

Or a car.

Even a one-room apartment can generate income comparable to the average monthly salary of a citizen in Russia.

Renting a salon, hairdresser's place.


The average price of one seat in a salon per month is 8,000 in a small city, and in a salon – more than 20,000 rubles.

1. Government payments.

   They can be received by disabled people, large families or people who have retired due to age.

   Bank deposit.

   Investing money in a bank as a deposit is not a great passive income, but for the most part allows you to save money.

   However, it is still quite possible to receive not an extra 3-10 thousand per month from a large amount.

   Sale of securities and mutual funds.

   A good option for long-term capital investment with the aim of making a profit.

   However, it must be approached very carefully.

   Gather all the information about the organization in which you are investing your money.

   Income from shares becomes large only after about 7 years have passed since their acquisition.

   Own business.

   A very good option for receiving passive income, but it requires a lot of effort and time before it starts to generate profit.

   Venture investments and profits.

   To receive venture capital royalties, you must invest in a newly launched company.

   After a few years, you can start receiving a very substantial amount, depending on the amount of the contribution.

   Investing money in investment and trust organizations.

   Profit is generated through the redistribution of capital.

   However, in this case there is a high risk of losing your investment.

   Purchase of housing under construction and its sale after construction.

   A profitable option if you have the funds to purchase one or more apartments under construction.

   You will buy it for 500,000 rubles, and sell it for 1,000,000.

   However, most likely, repairs will have to be made, at least cosmetic.

   When choosing a developer, you should be extremely careful.

   Buy housing only from reliable, well-known developers who have been working in the housing market for several years.

Finding the best option from the many existing ones is not a matter of one day.

You should carefully consider the steps, evaluate the initial capital and decide what is best suited.

Many people, thinking about how to create passive income, do not want to do anything about it.

However, in the beginning you will have to work hard in order to reap the sweet rewards in the future.

12 tips for beginning businessmen to create passive income

To become a free person in terms of finances, not to depend on the opinion and mood of the employer, you will have to work hard.

You are always looking for the best option for investing and starting a business.

Look for new assets that will later turn into liabilities.

• To become a wealthy person, strive to create several sources of passive income.
• Improve your financial literacy.

Be an educated person, read books, attend courses and lectures.

Live the life that rich people lead.

Before investing, study all options, do not invest money at random.

Always have on hand the necessary documents confirming your investment in a company or bank.

• Break your cash capital into several parts and invest in different projects.

Calculate the risks of losing your invested money.

If the risks are minimal, take the risk.

However, if intuition and common sense scream that the investment is not worth making, stop, no matter how profitable the offer may seem.

Think about your future every day.

Decide what you want to achieve.

Open your website on the Internet and develop it.

If there is a lack of capital, the site can be sold for a good amount of money.

• Find a mentor or coach who has already walked your path and can give you some ideas.
• Be prepared for the fact that to create good passive income you will have to work for some time, invest not only money, but also time and effort.

Don't try everything at once.

Focus on one project, and when you finish it, try another.

By focusing on several projects at once, you can get confused and lose your investments.

How to create passive income on the Internet?

Organizing your own financial project is a great way to create passive income.

You can open a business both in real life and on the Internet.

If there is no initial capital, or it is relatively small, the option of creating a business on the Internet is preferable.

Choose the business that you are best at.

This could be website creation, group administration on social networks, copywriting, Forex trading.

To start trading on the Forex exchange, you need to undergo a month of training and conclude several trial transactions.

At the initial stage, invest the minimum amount and develop.

Robert Kiyosaki talks about how to create passive income in the video:

How to create passive income and gain financial freedom?

In books on self-development, achieving success and wealth, millionaires give advice on achieving financial freedom.

We have selected the best ideas:

To avoid remaining poor throughout your life, find time to create passive income, even while working your day job.

In a month or a year, these efforts will more than pay off.

Always strive to create as many sources of passive income as possible.

When you make a profit, invest it again.

Develop yourself.

Financial literacy is a prerequisite for those who want to get rich.

Start by at least reading books by the world's millionaires and billionaires and follow their advice.

People who think about how to create passive income, are already a step above the rest.

Move forward, apply the recommendations we have described and become a millionaire.

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