Income of life (7type)
We are going to talk here about the main material money we need to live. twenty-first century we are in
This is how we earn everything and how
we spend everythin
What is Money Money is a common object that meets our need It can not only earn money by working but also earn savings This money varies in two ways depending on how you like it Doing what you like and doing what you don't like for money
We work under someone throughout the month and buy in the name of a substantial salary
This is in order to raise the standard of living for food if we spend everything
History of Money In ancient times the barter system used to get the goods they needed and then this system has changed over time.
Ways to make money
It is said that an individual can earn money for himself in 7 ways
1.Earned income
2.Transactional income
3. Portfolio income
4. Rental income
5. Royalty income
6. Capital genius
7. Recurring income
1.Earned income
Earned income is the monthly money that comes from doing a particular job at a particular time, that is, the salary that is equal to work we do,
earned income is two types
* physical activities
Hard work
* Brian activities
Smart work
2. Portfolio income:
It is the act of saving and investing a certain amount of the money we earn through earned income i.e. saving 20% of the money we buy and investing it is called a portfolio income.
Example;
*share market
* mutual funds & etc
3. Transactional income
To buy goods at wholesale low prices and sell at high prices it is called as transactional income
Similarly, we can buy goods at low prices and sell them to those who need them at a reasonable price
For example, a low-selling item near your home may be high in the area where you work, which we call transactional movement
4.Rental income
We can rent the goods we have for example vacant land,house, electronic goods & vehicles
But an important note in this case is that if you are going to rent a house the rent for the house should be higher emi for example if the EMI is 5,000 then the rent in the house should be ten thousand rupees otherwise you will not be able to get rental income
5.Royalty income
raylty income is once we get a certain amount per month or day following the work we do is called raylty income
Example; YouTube, blogging,Investing
7.Capital Gains
it's one type of investment method
Capital gain is the purchase of land, the purchase of gold, the purchase of shares in the stock market, and the sale of such assets for a long period of time.
It is sold at a higher price than the purchase price.
I hope this information is useful to you
if you like this post feedback on command section
Thank you
