Everyone lives on any means. This may be wages, the most common type, as well as pensions, benefits, scholarships, interest, and others. The article is devoted to varieties of income and its increase.
What is income?
Income is any cash or other value inflow. It is macroeconomic and microeconomic.
Macroeconomic income is a combination of different types of profit whole country or state. Therefore, we will not dwell on this topic, since this article will consider the economic resources of the individual and the family as a whole.
Microeconomic income is the receipt of funds, taking into account each person. In economics, there is such a thing as net income. What it is? Before answering this question, you need to familiarize yourself with the classification of income. There are several types:
- nominal, that is, generalized, which does not depend on any deductions;
- real income, this takes into account any deductions, for example, taxes, commissions or even just a change in prices;
- gross - means that a person receives from the sale of something, for example, a service, product or value. This also includes all interest received by a citizen, in particular interest from credit activities, banking or sales.
What is net income? This is the difference between gross income and costs, in other words, net income can be called profit.
What are the sources of income?
Most often it is a salary. Each able-bodied person is engaged in some business and accepts a reward for this. Payment for their work is mainly received in monetary terms, although there are situations when such payments are replaced by goods or some values or even services. All this is discussed individually.
What other sources of income exist? These include various scholarships, allowances (can be both for disability and unemployment, children and other types), compensation, pensions (for old age, seniority, disability, loss of breadwinner, military and so on).
The sources of income also include various commissions and percentages, for example, bank and credit commissions from sales, affiliate rewards for individual activities and others.
A source of income can be some kind of entrepreneurship, for example, the manufacture of goods, the cultivation of vegetable and fruit crops. It can be fishing, hunting or gathering berries and mushrooms. Naturally, certain activities require appropriate documents and licenses.
Writing articles, reports, essays, any reviews, books and other types of intellectual work are also considered sources of income.
How can I increase my income?
Mostly citizens have one main source of income. Each person has it individually. But, as they say, there is never much money, so the question of increasing this source is always relevant. How can I increase revenue?
First, you can perform a larger volume. If you work in manufacturing or other enterprises (including office) and have the opportunity, you can increase the plan. For investment projects, it is important to invest more money, and so the income will grow.
Secondly, to achieve the result, additional sources must be selected. It can be some kind of side job in your free time. If you have a hobby, you can turn it into an additional source of income.
As one of the options to take any training courses, learn a new specialty or just an additional one. You can choose for yourself any investment project and thereby, at the expense of interest, increase the total family budget.
The main income is made up of several sources by adding, and the more you have them, the better. When calculating the total amount of the family budget, all types of income of all family members are taken into account. It must be borne in mind that it should be regular.
Internet income
This is currently one of the most common topics. If a person has the skills of working on a personal computer, at least elementary, then you can get additional income using the Internet. Someone is skeptical of this, while others earn in this way. Optional binary options or the Forex currency market, playing in a casino or investing money in some suspicious projects, you can even get the main income using the Internet. The most common income is freelance.
How can I get income with freelance?
1. You need to determine the category in which you are best versed. For example, programming, accounting, writing articles, photography and so on.
2. Register on the stock exchange of freelancers, take orders into work and fulfill them.
It is also possible to conduct various polls via the Internet, communicate on forums where messages are paid, engage in public counseling and others. The possibilities are just the sea, the main thing is to want. Many users have already moved away from traditional work and completely switched to online. The Internet has become for them the best friend with which they have a basic income.
Total family income
If a person does not live alone, but with his family, in this case, to find out total income family, you need to carry out small arithmetic operations. It is necessary to add up all the profits that all family members receive. For example, the family has a grandfather, grandmother, mother, father and three children. The eldest child lives with his family, he is a student, the two youngest are schoolchildren. In such a situation, the following needs to be summarized: grandparents' pensions, the salary of the father and mother (if they work additionally, this also needs to be taken into account), the allowance of the oldest child, and children's allowances for younger children. The totality will be the total income for the whole family. And to find out how much money is paid for each member, you need to divide this total amount by the number of people, in this case, seven. Here is such a simple arithmetic.
The basic rule for the management of any capital is its prudent distribution. Therefore, anyone should first of all learn to plan their income and expenses.
