Are you looking for a different source of income?
Don’t worry we’re not here to sell you something but we want to guide you in looking for an income source that could work for you.
Millennials to Gen Z have been exposed to the hustle culture of today and it seems it’s the new norm for some to have a full-time job in the morning (at the same time trading stocks) or some work part-time in the evening. While others are doing online selling as a side hustle to earn extra.
We now live in an age where one income cannot suffice our needs alone and if you have a family that relies on you for their survival more likely you need to have a higher income. We compiled 5 common income streams in the Philippines.
1. Earned Income
Usually the main source of income for most people in the country. This is what you earn from working a job whether it is a full-time or part-time job.
2. Profit Income
If you engage in buying and selling products you get what is called profit income. The best example of this is online selling on platforms like Facebook, Instagram, Shopee, and Lazada.
3. Interest Income
This income comes from lending out your money at interest. It could be placing your money in bonds for years or if you like to take risks and you have trusty friends you can lend your money to them at an interest rate.
4. Capital Gains Income
If you have bought land 5 years ago, chances are the land value has increased by now and it is what is called capital gains income. It could also be in stocks but it is more volatile depending on the turns of the market.
5. Dividend Income
In the stock market, if you have a stock of Company A, they give annual dividends to their shareholders but it will be based depending on the number of shares you own and this income is called dividend income.