Wednesday, March 15, 2017

How to go about earning an Extra Income

How to go about earning an Extra Income

Extra Income means an income that you can earn apart from the regular
income coming in from employment or normal work. This earning can be
used to payoff your outstanding debts or build up a capital account or
spend it on luxuries that you could only think about before. Everyone
seems to want a second income but no one wants to work a second job,
so the extra income is normally seen as a windfall.
When we compare income levels in different countries, it is evident
that the average income per person is less than $15,000 a year--in
other words, where many people are near the breadline -- Extra Income
really does make people happier and improves their lifestyle.
But countries which have average income above the normal subsistence
level of approximately $15,000 a year, happiness seems to be income
independent. For example, an average American ranks richer than an
average Indian or an Austrian, but also less happy.

Why does this happen? People always look at their income relatively
with some norm or the other and the norm keeps rising all the time.
And this norm is what increases the spending, more or less in direct
proportion to the income. Two things drive up the norm with which
people compare their incomes. One is the income that they themselves
have experienced -- which habituates them to higher standards of
living. And the other is the income that their colleagues or neighbors
get, and which they try to outdo.
The extra income options available today are targeted to generate
employment and are targeted specifically at people who can use their
skills that are lying dormant to make some more money for themselves.
To achieve a moderate success in generating an extra income one should
be aware of their strengths and weaknesses. This would greatly help in
selection of a most suitable way to generate extra income.

The selection process consists of logical steps. Firstly one should
ask themselves of an honest opinion of their strengths, what they
excel at? What do people around them keep complimenting or criticizing
them on?, are they perfectionists?, For example, if you are a
computer literate you could help your neighborhood in upgrades,
repairs or installation of software.

The extra income can also be augmented by doing extra seasonal chores
like raking leaves in the fall or clearing snow in winters. These are
just a few ideas, but making an extra income augmented with self
analysis will take away the need for a second job.

Today the internet and the general market have a lot of ideas for
generating extra income. Network marketing in general market terms has
been successful to some extent. Internet offers something similar that
says affiliate marketing. The internet also offers a host of other
options like writing, advertising and simple technical non-technical
jobs which can highly augment your regular income. The extra income
that can be earned form these opportunities depends on how good your
skills in the field of your selection.

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