There are many different types of income you can earn. You can actively work for earned income, or you can let your money work multiple streams of income for you in passive income streams. You might also earn income from interest, dividends and capital gains on investments.
Here’s is a great list of research tools to help you get started. To start, you’ll have to decide whether you want to create a website or mobile app.
#2: Take paid surveys
In March 2016, she profited $7,461 on less than six hours of work. In July, she spent three weeks and $13,648 renovating a rental to increase yearly income by $4,740. Profit Income — Profit income is active income that is the goal of all businesses. It represents the difference between the cost of selling a service or product and a higher price that you sell it for. The greater your profit margin and volume, the more profit income you make. Dividends — Dividends are payments that are distributed to owners of shares in a company.
E.g. if you have a Subway Franchise – the royalty you send to Subway for using their processes, their logo, and marketing etc. is royalty income for them. If you are a writer, you get paid for every copy of the book sold. This is the money you get as a result of letting someone use your products, ideas, or processes.
Seven Types of Income Streams
Credit card providers, for example, earn revenues by taking a percentage of the value of each sales transaction executed between credit card merchants and customers. Brokers and real estate agents earn a commission each time they successfully match a buyer and seller. This Revenue Stream is generated by giving customers permission to use protected intellectual property in exchange for licensing fees.