Some of us kids grow up thinking that the only way to make money is to get a job. That is only one way to earn money.
I am learning about MULTIPLE INCOME STREAMS, which means that I make money in lots of different ways.
I am also learning about the difference between EARNED INCOME and PASSIVE INCOME. Earned income is money I earn for the hours I spend on the job. Passive income is money I earn even when I am not working. I need to do lots of work before I can earn passive income but I think this is one of the quickest ways to get rich.
Check out this video to get an idea about multiple and passive income streams. I have listed some of the options underneath the video.
- Work in a job where we exchange our hours for money.
- Work in a job where we exchange our hours for money and have a side hustle or two.
- Have a few side hustles and get people to help manage them.
- Become a property investor.
- Become a property investor and have a few side hustles.
- Write a book.
- Sell something on line.
We will also know what to do with the money that we earn. We will know how to invest our money and make it grow for us.