5 surefire ways to generate income and wealth

If you're fed up with having little and want to improve your quality of life then you need ways to generate wealth and income. Just imagine having 5 different streams of income with little or no capital or wealth. If you are willing to strive to generate wealth and income then you should definitely try these 5 methods of increasing your wealth.

#1: Increase Your Salary

If you think you're worth more than what you are getting at the moment you need to speak to your employer and improve your job prospects. If there is no way of getting a promotion or an increase in your salary then you need to actively look for other careers where progression is possible.

Always look to achieve more qualifications and education so that you can command a higher income. Once you have got into a profession where progress is welcomed you need to take make an action plan to exceed all your goals and targets, your sole objective should be to get promoted as quickly as possible. When you experience a rise in income don’t be silly and blow it all away instead look for ways to reduce your outgoings so that you can save more money every month to increase your wealth.

#2: Rent Out Property

If you have any spare rooms then you need to consider renting them out to utilise the space. If you have 2 bedrooms to rent out then you can earn over $500 per month which would amount to $6000 per year. Even if you don’t have any rooms to let out you can rent out a 3 bedroom flat and then sublet the rooms out. If you spend $1500 on rent and can get $2000 renting the rooms out separately you can earn $500 profit every month.

#3: Internet Earnings

Another great way to make money is the internet. Many people are making anything from $100 per month to $30,000 per month. If you are able to write then you can get exposure to money on the internet. By writing articles or selling stuff on ebay.com you can generate at least $100 per month after a few months. If you can keep on writing for a year then it is possible to earn over $1000 per month.

#4: Stock Market

If you have logical mind and can make decisions based on facts without getting mixed up emotionally you can definitely make money on the internet. Start by researching on technical and fundamental analysis and then open a virtual trading account to practice. Once you have developed a strategy and have good money management rules you can try out your system. Be very careful and only invest money that you can afford to lose. If you can create a successful strategy then there is no limit to how much money you can make.

#5: Teaching

If you are talented and can play the piano or guitar then you should definitely consider providing lessons to students. Even if you can’t play an instrument you can provide some sort of tuition. If you can organise yourself and generate enough time to teach 5 hours per week and charge $20 per hour you can generate $400 per month and you would be adding value to students learning.

There are many ways you can generate income to accumulate wealth and if you can continually motivate yourself and take strides in each area outlined above you can definitely be on the road to financial wealth accumulation.