4 Sources of Income to Increase your Cash Inflow

In a cash flow diagram, there are two money streams: the cash inflow and outflow. 

To increase one's cash flow is to manage these cash flow streams: earn additional income for the cash inflow stream and manage expenses and budgeting for the cash outflow stream.

Today, let us learn how to increase our cash inflow by earning additional sources of income.
Increase income to increase cash inflow
Increase income to increase cash inflow
It is important that one must understand that there are two types of income: active and passive income.

Watch the video below to learn how to increase your cash flow by earning additional sources of income: 

Active Income
Active income is the type of income that when you work, you earn and when you don't work, you also don't earn. Sources of active income usually come from employment and self-employment.

(1 & 2.) Employment and Self-employment
To earn adittional income, after having a full-time (8 to 5) job, one may venture into a part-time job like personal tutorial, be a fast-food crew or be a part-time teacher. 

For professionals, one can have a private practice, private clinic or be a consultant. The challenge of having a lot of active sources of income is that our time is limited and it also affects our physical health. By the time we get sick, our income also stops.

Passive Income
Passive income on the other hand is when you don't even work or with little effort, you still earn. 

Thus, learning how to earn passive income is the key in having multiple income or cash inflow streams. Sources of passive income come from businesses and investments.

(3.) Businesses
Traditional businesses as a start may be active income but when the business is systematized, it can run on auto-pilot. 

Example: after an 8-5 job,one may have a barbecue store, hire people, systematize and it can run and continue to earn with minimal supervision. 

Business is a great source of passive income because instead of working for money, you let other people work for you.

(4.) Investments
Other sources of passive income can come from investments in solid and liquid assets. 

Solid assets include real estate such as boarding houses, condominiums or apartments while liquid assets include investments in bonds, UITF's, VUL's, mutual funds and stocks. 

The beauty of investments is that we let money work for us.

Being a part of IMG, we can experience all these sources of income. When one is employed, he can be a self-employed financial adviser during his spare time and earn additional income with his personal effort. 

When one decides to build a team, he can train people under his supervision to become trainers thus one can build his own brokerage business. 

And with all the financial education lectures and training, practicing what we preach, we can venture into different investments from solid to liquid assets.

Thus IMG is one of the few vehicles that offer people a great way to earn additional sources of income.

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