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Generating income is the key foundation of smarter money management. While earning extra income does take work, its payoff can be big. When assessing how you can generate multiple streams of income, consider these factors:
Flexible: The ideal source of extra income will allow you to call the shots when it comes to your time. Especially, if you have a full-time job.
Scalable: Look for income sources that have at least the possibility of generating substantial amounts of income.
Sustainable: The ideal extra income source will continue to generate cash even when you’re not working at it. The idea is to build something that can eventually function without you.
Enjoyable: Generating additional sources of income sometimes takes a lot of work, so you might as well enjoy what you’re doing while making money.
