What is income? Sources of income
Income is wealth that is usually calculated into money that an individual, business, or economy receives over a certain period of time from a job, service, or activity.
Today, income sources are classified into two categories: active income sources and passive income sources:
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Active income is the amount of money an individual receives when spending labor, aiming to create products and services for certain subjects. It is also called an individual’s salary.
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Passive income is personal income received without the use of his labor power. As a source of income from personal assets such as music copyrights, intellectual property, real estate,…
Why master the source of income?
In order to have a full, warm life and limit worries when encountering certain problems, you should own your source of income. Here are the reasons to better understand why you should own your source of income:
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Avoid financial crises: If you master your source of income, you will not be embarrassed or worried when you encounter a problem to be solved. You will easily overcome all difficulties in life.
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Do not be dependent on a certain job: If your current job is in trouble or in danger of quitting, you won’t be too worried and insecure. Mastering the source of income will help you solve difficult problems in a satisfactory way during the time you find a new job.
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Master your own coins: When you master your own source of income, it will be easier and more comfortable to shop, go out or other purposes. Thanks to this initiative will help you adjust and spend in a more reasonable and correct way.
How to diversify sources of income for women, stay-at-home mothers
Currently, there are many jobs that help stay-at-home moms and sisters earn extra income easily and simply. Here are some suggestions for income sources:
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Online sales: You can sell junk food, drinks, cosmetics, household items, and a lot of other items. This online sale is not too complicated or fussy, because as long as you have a smartphone, you can post your favorite item for sale. This is the ideal job because it does not take much time, you can be proactive in your work without fear of constraints or pressure on business capital.
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Handmade making: If you are a skillful person, this job is very suitable for you. This job is not limited in time and does not impose sales that will make you more comfortable at work. You can take home made goods or post those products for sale on social networks. Such as making bracelets, embroidery paintings, teddy bears, silk flowers and many other items according to his interests and passions.
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Writing contributors: It can be said that this is the job that many housewives are most interested in. With this job, you need to be a computer expert, have creativity in content to make the article more attractive and lively. You can write articles for online newspapers, newspapers or websites to earn extra income for yourself.
Tips for managing income sources for stay-at-home moms
Wanting to earn more income is extremely simple, but to manage the source of income properly and properly is not a simple thing. Here are some tips to help you manage your income source more easily:
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Create a budget: This is an indispensable first and important step in money management. Estimate how much to spend each month based on your income, lifestyle, and desires. This will help you control, organize your spending and save those expenses in a reasonable way.
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Set financial goals: Set financial goals with set timelines. This will help you stay motivated to try to do better.
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Start investing early: You should start saving as soon as possible, which will help you hoard a decent amount of money for the future. From that money you can invest in some areas that you are interested in or save that will help you create a new source of income.
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Avoid debt: Limit unnecessary debt and spend as sparingly as possible. You should keep your debts under control so you don’t become a financial burden that affects how much you’ve saved.
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Guaranteed in emergencies: You should prepare a sum of money in case of unexpected problems or unexpected things that need to be handled urgently. This preparedness will make it easier for you to deal with the situation.
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