7 Proven Ways To Create Multiple Streams Of Income

REITs are companies that buy, rent, and sell large-scale real estate and rely on investors to buy into individual real estate projects. It’s similar to investing in stock, but you’re investing in individual buildings and projects instead of Grocery Store Accounting a company. When you have multiple streams of income, though, you likely have paychecks coming at different times of the month. If you’ve got a flair for writing and creating content, or have a specialty that you want to share with the world, you can start earning money by building a blog. While multiple sources of income are a necessity for a lot of us, they can also serve to boost our income for rainy day funds and for investment or pensions later in life.

• Hop on selling platforms like Etsy or Shopify and sell products you’ve made yourself.
• Here are a few rules of thumb on creating multiple streams of income.
• Do this with the goal of having your investments grow over time and, in turn, earning portfolio income.
• With crowdfunding platforms, you can own a piece of income-generating real estate with as little as $500.
• Creating applications isn’t easy, but if you make one that’s entertaining, helpful, and/or unique enough, you can earn a significant amount of money.
• All you really need to do is sign up, and collect your rental income each quarter.

How to Create Multiple Streams of Income

Find ways to do so by utilizing your time, expertise and existing money (i.e. savings). With the right options and avenues, you may find that you are making money 24 hours a day with these multiple streams of income. The more actions you complete, the more you can be rewarded. It is among the easiest ways way to create extra multiple income streams. These companies can be found on main stock exchanges and invested in that way or brokers can help investors find REIT mutual funds or ETFs too. You can get access to real estate investments by using apps like Fundrise that let you invest in REITs and can get started with only $10.

Side hustle or business

Mutual funds are a type of investment vehicle that pools the money of many investors, which allows you to diversify your investments across a variety of different investments. © 2025 Greenlight Investment Advisors, LLC (GIA), an SEC Registered Investment Advisor provides investment advisory services to its clients. Investing involves risk and may include the loss of capital. Investments are not FDIC-insured, are not a deposit, and may lose value. You how to make multiple incomes also need to hustle to find the work and market your skills. With so many people setting up home-based businesses and consultancies, there have never been so many opportunities for virtual assistants.

Invest in stocks

• Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners.
• You can access M1 via desktop or mobile and it’s free to open an account.
• By owning rental properties, you can generate a steady flow of monthly income from tenants while benefiting from potential property appreciation.
• The secret to creating a successful YouTube channel is creating content on a consistent and ongoing schedule.

Essentially, you’d function as an admin or secretary on a part-time or temporary basis. If you’re doing it yourself, there are plenty of smaller investment apps and beginner platforms that you can take advantage of and start using. You can sign up for different platforms and consultancies that will invest your money in different funds and pots for you. This works similarly to a pension fund where managers will keep an eye on your money and take calculated risks to get more out of your money. I recommend starting your blog with Bluehost, it’s super easy and cheap and you can have a WordPress site set up quickly with your own domain. I used them when I was first starting and have only recently switched since my traffic has increased.

• These easy-to-use habit trackers will help you stay accountable and motivated on your journey to financial success.
• To receive a refund of your first monthly fee, you must request to close your account on or before the day immediately preceding your first Monthly Billing Date.
• Savvy New Canadians is one of Canada’s top personal finance platforms.
• You only have to make the digital product once; then you can sell it repeatedly via your online business.
• You can earn a little extra through this site by making it your default search engine.
• (You see where I’m going with this.) Inching your way forward will keep you from getting in over your head, and ensure there is a desire for your product in the market.
• Online education is a booming industry and your knowledge is valuable.

Time to Get Started Building Multiple Sources of Income!

It can also include growing the value of your equity as a business owner, in preparation for a potential sale in the future. In this unearned revenue post, I’ll explain some different types of income streams and how you can build your own. There was a time when all you really needed was one well-paying job and a solid retirement plan to secure your financial freedom. Things are a lot different these days.For starters, the job market itself is more competitive than ever. Even if you do end up bagging the “dream” job it will hardly be a cakewalk, let alone something you can rely on forever. Savvy New Canadians is one of Canada’s top personal finance platforms.

#2 – Get A Second Job

• When you’ve earned enough income to reinvest it, a common source of cash flow to supplement your income now and in retirement is to own one or more rental properties.
• Affiliate marketing is a passive income model that involves recommending a product or service to an audience.
• These 4 income types are also known as Robert Kiyosaki’s cashflow quadrants.
• Earnings from vending machines need to be offset against rental or ownership costs, as well as the cost of stocking and maintaining your machines.
• These days, more and more people are looking for ways to make money from home.
• Be certain to check with your employer’s guidelines regarding side work and be certain to get anything you do approved before adding a new revenue source to your plate.

It is important to find a balance between the two in order to create a portfolio that is suitable for your needs. With the stock market, there’s always the risk of losing your investment, so consult a financial advisor or investment professional before starting a brokerage account. Investing in real estate is one way to build passive income. There are varying degrees of work upfront, though you probably need more cash on hand.