Extra Income means an income that you earn apart from a job or a 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 -- Earning an extra income really does make people happier and improves their lifes.
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 earns more than an average Brasilian or a Mexican, 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 has several logical steps. Firstly one should ask themselves of an honest opinion of their strengths, what they excel at? For example, if you like computers 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 warm fall or clearing snow in winters. These are just a few ideas that work, 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 using the internet. 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 copywriting, translations, 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.
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 -- Earning an extra income really does make people happier and improves their lifes.
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 earns more than an average Brasilian or a Mexican, 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 has several logical steps. Firstly one should ask themselves of an honest opinion of their strengths, what they excel at? For example, if you like computers 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 warm fall or clearing snow in winters. These are just a few ideas that work, 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 using the internet. 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 copywriting, translations, 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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