We mostly rely on our salary or paycheck as the sole source of our income.

What we don't realize is that there are other ways to get that "extra" income as they call it.

Maybe you might have already read some tips that lists several options but some may have not yet, so this is the purpose of this blog, to educate and encourage.

Never put all your eggs in one basket, meaning diversify. Define your risk appetite and choose the one that will work for you.

1. Stock market

This is a high risk option. You buy and sell in the stock market. There are now a lot of legit online broker's. You can always join Facebook pages such as Investing in the Philippines Stock Market - Tips and Tricks, they will help out newbies with questions and gives you an idea which books and websites you can read to know more about stock investing/ trading.

As they say TAYOR, "Trade at your own risk". Study first before venturing to stock market and train your emotions well. You control your port, purely your decision and your strategy. Buy low and sell high. Be fearful if others are greedy and be greedy when others are fearful.

Col financial is a leading brokerage firm here in the Phils, they also conduct seminars for free. Check their website for more inquiry.

2. Mutual funds/Unit investment trust fund (UITF)

This can be be categorized depending on your risk appetite, they have low-risk, mid-risk and high-risk options. Reach out to your most trusted bank and check if they offer these funds. A fund manager will be in charge of the trading while you can either redeem or subscribe at will. Most banks/ brokerage firms offer this now. As usual read and study how it works. There are other insurance companies which offers insurance plus investments.

3. Local farms

Invest in local farms, like Farmon.ph. You provide the capital, their farmers will plant the crops or raise the animals and sell them after harvest and the gain will be divided 50/50 among you and the farmer. It's a win win situation.

It's a low risk investment but proceeds may be obtained in a longer period due to the planting and harvesting schedules. But hey, helping local farmers will make you feel good.

4. Buy and sell

This method is quite rampant nowadays, with internet all over the place it's easier to get customers and ship your products while having the money transferred to any payment facilities.

You can even sell pre loved items in sites like OLX or Carousell and transact with the owner directly. Now you can get something from your pre-loved stuff while de-cluttering.

5. Online part-time jobs

You just need the skills, time, patience and tools such as a stable internet connection and a computer. There's a lot of sites now that hire people around the world to do things depending on your expertise and skills. They pay well too. Just make sure the site is well know and legitimate. Check Elance/odesk. If not be active and create a content with substance here in steemit.

6. Skill related business

If you are a writer, painter, cartoonist, programmer and the likes. You can indulge in a part time service maybe for your friends, office mates and advertise your expertise and talents online.

'If you are good at something, never do it for free", as they say.

7. Cryptocurrency

this is quite high risked. There are a lot of crypto currency trading out there such as bitcoin (BTC), be sure to choose a good one. But if you are that adventurous and ready for anything, try it. Who knows right. Just make sure you only invest what you are willing to lose.

8. Collection valuation

If you are into collecting toys, stamps, coins, antiques, wine bottles, action figures and anything that can be of a higher value in the future then continue doing do. You'll never know how much one coin from a few decades from now will cost in the future. These are what they call collector's item. You can even sell it in auctions. The older the better.

9. Gold

Gold prices varies but one thing for sure someone will be buying that gold. I had a necklace bought in the middle east by my mom for around $60 estimated at that time. We tried to pawn it here to check how much will be offered and we were shocked to be offered $140. But I kept the necklace. :D

10. FOREX

Foreign exchange is just like a riskier version of the stock exchange, the prices fluctuates more often and more volatile. Make sure to attend a Forex training before venturing in it.

11. Lending/ cooperatives.

This can give you credit and a percentage for any payment from the loans.

12. Time deposit

If you are afraid to invest your money and don't need it anytime soon you can put it in a time deposit in your bank that will have better interest rate than a regular savings account.

Bonus:

Real estate/ properties

This entails a bigger capital in buying and selling/renting a property.

Please comment below if you know of other income generated options. Hope this helped.

Thanks for droppin' by.