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How to increase your income from one to many

If you really want to be wealthy then multiple sources of income are the way to go.



One of the major roadblocks to Financial Independence is to put your source of livelihood on one source of income. Anything with option one creates high risk and is a major cause of stress when it’s uncertain. Thus if your only source of income is full-time job chances are high that you will postpone your financial independence. Worse of all is that this income lives and dies with your job. Thus If you have been racking your brains for ways to get multiple sources of income so you can protect yourself. Rack no more for today I will show you the answer.
What do you do to move from one source of income to multiple sources of income? And how do you ensure that you achieve Financial Independence?

To move from one source of income to multiple streams of income there are three things you must do. First, you must understand what you need to get started. Second, you must understand your multiple income options. And third, you must understand the critical success factors that lead to financial Independence. Below I explain these three points in detail.

What You Need to Get Started

To Create Multiple streams of Side Income you need an income-producing seed. There is no room for empty handedness in the corridors of wealth. So you must come with a seed if you want to create more wealth. So what seeds do you need to create multiple incomes? There are primarily two seeds. The First seed is the Money Seed and the second is the Scratch Seed. When you want to expand your source of income, you either use money to create more money or you create money from scratch

(READ MORE:MoneyGram received $9.3 million from Ripple in Q3)

The money seed is thus the option that uses money to create more money. Money can reproduce money and the fastest way to reproduce money is to invest it. There are two places that money can be invested. The first is in an Investment vehicle and the second is in people. To be successful with investing you need a lot of money and you also need a financial independence plan. And for people investing to be successful, you need a people-based passive Income plan. But if you have limited amounts of money using money to make money is not the fastest option for you. The fastest option you have is to create more money from scratch.

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The From Scratch seed is thus the only way to create money from scratch. This seed is not based on how much money you have but on how much of these three skills you have. These three skills are what I call the money-making skills. The first skill is Problem-solving skills also called creativity or innovation skill. The second skill is Relationship building skills also known as Networking skills. And the third skill is Marketing and sales skills. These three skills are the only skills in the world that can build wealth from scratch. It is the closest you will ever get to making money out of thin air. If you do not yet have these skills you need to develop them and if you need help developing these skills send an email to [email protected]

So now that you know what you need to get started. Let’s look at the broad options of side income that you have.

There are about nine paths to take if you want to create multiple streams of side income. The First seven paths are active sources of income. And the last two paths are the only two Passive Sources of income in the world. So let’s look at each of these paths in detail.

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(READ MORE:How to build solid income security for yourself)

Active Sources of Income

1. Create Your Own Product

One of the ways to generate a side income is to create your own products and sell them in exchange for cash. The majority of people who do this do it in two ways. The first way is to start a full-fledged business and run it part-time. The second way is to start a side hustle that can be run part-time. Starting a full-fledged business and running it part-time is the fastest way to lose money. While a business has huge profit potential it requires full-time attention. I know this because there are no successful part-time businesses in the world. Businesses that are successful are run full time to thrive. A side hustle on the other hand is a better option if you develop Money making skills. One of the major problems of those who create their own products is convincing a lot of people to buy it. The majority of people focus too must attention on creating the product and developing Product creation skills. They pay little attention to developing Money making skills. Without successful marketing, it is hard to make money from your products or get rich in business.  No matter how good your product is if you cannot sell it you will be broke. The best way to succeed in a side hustle especially one that is based on your own products is to master the art of product creation and money-making all at the same time.

2. Create Your Own Service

Creating your own service is all about offering a set of skills in exchange for money. The bulk of Freelance professionals fall under this group. Again the problem with this source of income is that it requires money-making skills to be successful. While a lot of freelancers are good with freelancing they are terrible at marketing. Thus a lot of them suffer from a limited clientele base and projects that carry limited income opportunities. Some freelancers are good with marketing but they suffer overwhelm if they are still gainfully employed. Spreading yourself too thinly is the recipe for producing sub-optimal results. Freelancing requires an enormous time investment so you need to create more free time to make it successful. Even you outsource some of the work, you are burdened with supervision and the risk of not satisfying your customers. So unless you can create more free time and be good at marketing you become ineffective as a freelancer.

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3. Selling Other People’s Product

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Selling other people’s products is another way of making extra income. This is where the salespeople, Agents, Franchisee, and Independent Marketers fall under. While this is a great source of side income, not everyone is good at it. The typical salesperson is uncultured, too pushy, and unwelcome to many people. Some of them sell products they don’t believe in or will not buy with their own money. Others make the mistake of limiting their income potential by taking job security under a particular organization. Good salespeople branch out on their own, use their skills to serve a lot of people, and diversify their income.  They also achieve financial Independence faster this way. When selling other people’s products also involves buying these products with your own money. Chances are high that you may lose your money or get stuck with products you cannot sell. To succeed at selling other people’s products you must be good at marketing and relationship building. You must also choose products you believe in and are passionate about.

(READ MORE:The definitive Cryptocurrency tax guide for 2020)

4. Sell Other People’s Services

One of the ways to earn extra income is to sell or plug into other people’s services. A typical example is Uber. While Uber can be a great source of side income it has certain drawbacks. The first is that it is not scalable. There are only a limited number of cars you can have at the same time and this limits your income. Second, the income opportunity comes at a high cost. It requires massive work and time investment that can become unhealthy for your health and relationships. Combining a stressful 9-5 Job with a stressful weekend for a meager income especially when you have other options is not wise.  The other way to reduce the direct time impact on you is to outsource your car to an Uber driver.  This also comes with a lot of stress. Again there is a limited number of cars and no one can take care of your car as you do. So you can do Uber but try to outsource it may be on a hire purchase basis so you can focus on other sources of side income. And if you must do it yourself try to ensure it does not lead to damaging health conditions or hurt your relationships.

5. Gamble and Betting

I will normally not talk about this kind of side income or recommend it but since it is becoming an option let me talk about it. Gambling is simply banking on luck or chance to become successful. It involves options like Stocks, Forex, cryptocurrency, Lottery, and so on.   Although these options are supposed to be passive investments there are not. Because they require constant monitoring, trend analysis, monitoring of the news, and trading which is like a full-time job.

If you must gamble to make money make sure you are on the winning side. The ultimate winners in gambling are the owners of the gambling business.  They control the process and are the last to lose money or go down.  The Gamblers in contrast are the ultimate losers and here is the reason why. Gamblers take money from one uncertain source of income-their job. And invest in another source that is even more uncertain. They suffer anxiety, and financial stress because they bank their success on luck that is out of their control.  The only way to succeed with gambling is to be on the money-making side.

Betting is also the same as gambling. When you bet you are guessing on an uncertain outcome which may or may not happen.  Although there are a few lucky winners according to those who bet. No one knows when it will be your turn. And whether it will ever be your turn.  Betting is a game of chance and you cannot bank your financial future on an uncertain game. I am yet to see a lot of billionaire gamblers aside from the owners of the gambling business. Maybe when I do I will update my perception.

(READ MORE:SME stories: How Alex makes ₦8,000 daily from second-hand book selling)


6. Marry Well

One of the fastest ways to increase your source of income is to marry up and well. Marry well means marrying for financial Independence and not inheriting financial burdens. If marriage limits your income potential rather than enhances it you should rethink that marriage. The formula for financial success in marriage is this. Make sure two are better than one in all ramifications and not worse than one. If you marry only based on love, I hope that love pays your bills and shields you from financial stress. While you should love the person you marry, marriage is already hard to add financial stress to it. The key secrets here is to expand your income through marriage. Marrying a high-income partner is thus one of the simplest multiple income streams there is.

7. Be a Relationship Broker

One of the fastest and most effective ways to fast-track your journey to financial independence is to become a relationship broker. It is one of my favorite side income. And how I exited the corporate world after working for seven short years. What does Relationship Brokering mean?

Relationship Brokering simply means serving as the middle man (Broker). Between someone that wants to solve a problem or meet a need called the Customer. And another person who can help them solve that problem called the Solution Provider. In exchange for profit sharing or an agreed reward.

Solution providers are generally business owners and they are the ones to pay you for your connections. All you have to do is make a sales connection happen virtually, passively, online, or offline. It’s a win-win for all parties involved. You get paid in cash and kind when you broker. First, you get paid referral income for your connections and second you get the goodwill of helping another human being. The business owner is also able to generate income without the huge cost of marketing. The customer gets the transformation and the help they need to move to the next level.

Of all the seven active sources of income, this is the only side income that is immune to economic downturns. You can successfully combine it without huge time and work investments. And you can do it without compromising your integrity. To succeed with relationship brokering you must develop the three money-making skills and broker what you love.

(READ MORE:ATM Fraud: How to care and use your card wisely)

These are the seven active sources of side income you can explore. If you need want more information about how to earn 6 and 7 figure income brokering relationships send an email to [email protected]
Passive Sources of Side Income

There are only two ways to earn passive income in the word. The first way is through Investment-based passive income. This is the weaker passive income. And the second way is through the people-based Passive Income. This is the more powerful passive income.

Investment Based Passive Income

The investment-based passive income is the income you earn when you put your money in an investment vehicle. It is income earned when you invest your active income to produce passive income. The higher the amount of active income you invest. The more solid passive income you will produce. The key to success with the investment based passive income is two-fold. The first is to invest in your financial Independence using a proven plan. And the second is to increase the amount of active income you invest. If you need help figuring out how to invest for Financial Independence. Send an email to [email protected]

The People-Based Passive Income

The People-Based Passive Income is the income that you get from people working for you. It is the strongest passive income in the world and the one that can make you rich the most. Having other people work for you can be achieved in two ways. The first way is through a successful Business.   And the second is through a Passive Income Money Making System. If you are not yet ready to start a business or if you are not yet financially independent. Venturing into the business world may not yet be for you. And here is why. First, you cannot succeed in business with execution money. And second, you need to pay your bills to stay focused. One of the best way to thus earn the people-based passive income as a working-class professional is to create a Passive income money-making system. The most effective way to do this is through the Relationship Brokering. It is possible to scale a relationship brokering business to earn passive income. All without increasing cost, work, or time investment. No other source of active side income has this advantage. Having other people work for you to expand your income opportunity without expanding your work is thus an excellent way to fast track your financial freedom.  The secret key here is to be able to expand your income without expanding your work.
So that is it about the two types of passive income sources there is. Now let’s talk about the critical success factors that can hasten your financial Independence.

(READ MORE:Top passive income strategies using Cryptocurrencies in Nigeria)

The Five Critical Success Factors for Financial Independence

To achieve financial Independence through multiple streams of income there are five critical success factors to note. The First is that you must never combine two active income that requires full-time work at the same time. One of the sources of income will suffer and worse off, it will drain your liquidity. Second, you must never Exit your Job until you gain Financial Independence or have another reliable second income. There is no room for success in the business for hungry men. Third, you must never lose your savings and years of hard-work through gambling or unguided investment decisions. The Fourth is that you must put money to work through investing if you have money and focus on developing the High-income skills if you don’t have enough income. The fifth is that you must choose the side income that will give you the most desired results by looking at those people who are already earning from it. For example, I am yet to see Uber drivers that are rich and wealthy.

Research shows that over 90% of the world’s billionaires have multiple sources of income. If you really want to be wealthy then multiple sources of income are the way to go. If you are tired of getting a single paycheck every month and want to create multiple sources of income within a reasonable time send an email to [email protected]



  1. Ubazi Sunday Clinton

    November 4, 2020 at 5:28 am

    Thanks for ur councelling. May God empower u more. I learnt alot from ur write up

  2. Olukayode Awopetu

    November 4, 2020 at 12:16 pm

    Very interesting analysis and enlightenment, kindly keep it up.
    More grace to you.

  3. Anonymous

    November 9, 2020 at 10:21 pm

    Lol what a retarded article

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Personal Finance

How to build solid financial success system and achieve financial freedom quickly

These are the three systems you need to speed up your financial success by almost 20 times.



Financial system and freedom

The majority of people I know want to increase their financial success. If this is also what you want to do, you need solid financial systems.

What systems do you need and how do you increase financial success especially if you are stuck in a 9-5 job? In this article, I will show you exactly what to do.

To increase your financial success, there are three systems you need. These systems determine how fast or slow you achieve financial freedom and are explained below.

Multiple Income System

This is the system that brings in massive money into your life. It comprises 3 main components – quality of your main income, source of your income, type of income.

The quality of your income can be high or Low. It is high if your main income gives you the ability to save more than you spend. It is low when you can only spend more than you save. High-quality income is the only type of income that can make you rich.

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The second component of the multiple income system is the source of your income and there are two types – the one source income and multiple source income. The key to fast-tracking your financial success is to upgrade your source of income from one to many.

The third component of the multiple income system is the type of income you earn. There are two types of income – active income and passive income.

When you earn only active income or have a weak passive income, you limit your chances of financial success. True success is created when you have a strong active income and a strong passive income. You accelerate your financial success when you depend on passive than active income.

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These are the three components of the multiple income system. When you have all three components working for you, you accelerate your financial success by almost twenty times.

So, now that you know the first system for fast-tracking your financial success, let’s look at the second system.

Money Preservation System

Earning extra income is just one step in the financial success process. What truly creates wealth is the income that you keep. True riches are created when you keep more income for yourself.

Unfortunately, this is rarely the case. Most people are only keeping leftovers for themselves. They are enriching others through their spending and getting poorer and broke every day. To achieve financial success, you must preserve more of what you earn. To succeed with preserving income, you must maximize two key components – the savings component and investing components.

READ: Billionaires that can triple the value of Bitcoin

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The savings component works best when you save big portions of your income every month and investing your savings to produce solid passive income. To save big portions, you must strive to increase your savings by 1% every month. You must also try to maintain a low maintenance living standard.

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The second thing to do to preserve your income, is to ensure that money saved and invested is never lost. Losing money through unguided investment decisions is not wise. To achieve financial success, you must invest to preserve your savings.

So, now that you know the second system that can accelerate your financial success. Let’s look at the third system.

READ: Ripple adds Bank of America to payment network

Money Multiplication System

The money multiplication system is the system that enlarges your wealth. There is a limit to which savings and investing alone can make you rich.

This is because they are heavily dependent on your own direct effort. To create massive wealth, you need to move beyond your effort and create systems that can enlarge wealth even in your sleep. To create this kind of system you need one critical component –  Leverage.

READ: $385 million worth of Bitcoin moved by unknown identity

What is Leverage?

The best way for me to explain leverage is to use the example of a school Teacher and a movie star. A school teacher solves the problem of ignorance through education and a movie star also solves the problem of ignorance and boredom through education and entertainment.

Both teach their audience something about themselves or other people, that they do not know before. A teacher delivers her services by standing in front of a few students and is confined to a classroom. Every day of her life she does the same thing, teaching the same materials to different kinds of students.

READ: Nigeria generates N416.01 billion from Company Income Tax in Q3 2020


Without her presence, her work cannot be delivered, her time is blocked. She is cut off from the wider society and can only earn income from her direct effort. Although, the teacher arguably provides higher perceived value than the movie star, she lacks leverage and her income is limited by it. This, therefore, means that you can provide enormous value and still not be rich. Value alone does not lead to wealth. It is value and leverage that creates massive wealth.

The movie star in contrast has massive leverage. He shoots a movie in some remote town unknown to the audience. He invests weeks, months, and sometimes years producing the movie. But, once produced, he never has to do the same movie over again. The movie produced is distributed all over the world. He is seen on all the media platforms, in theatre, television, and DVDs.

READ: Top passive income strategies using Cryptocurrencies in Nigeria

His movie is watched by billions of people. He is able to build a solid fan base and is patronized from all over the world. A movie star works once and is paid for a lifetime. It is the long-lasting and far-reaching value of the work of a movie star that makes him richer and wealthier than the classroom teacher. Thus, even with little perceived value, a person can create massive wealth with the right leverage.

Leverage is thus the ability to work once and be paid for life. It also the ability to do it in one place and spread it all over the world. The tools that make leverage possible is the right relationships, the right media platform, and the right distribution system. If you do not build your own leverage system, there is a limit to how much money you can earn.

Explore Data on the Nairametrics Research Website

So, these are the three systems you need to speed up your financial success by almost 20 times. Perhaps, you are thinking to yourself how do I build these systems and where do I start. If this is you, we can help. We will help you build these systems and accelerate your journey to financial success. If you need help, send an email to [email protected]

About author

Grace Agada is the Senior Financial Happiness Director at Create Solid Wealth. She is an Author and Column Contributor in six National Newspapers. She is a contributor at BellaNaija, Nairametrics and Proshare. She is on a mission to help working-class professionals and CEOs become more financially successful. To learn more about Grace and how she can help you, send an email to [email protected]

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Personal Finance

Must-do things after you finally become debt-free

Now you are finally debt-free, these next steps will help you make sure you never fall back into debt again.



So now that you are debt-free what next? Remember that clearing your debt is just one part of the exercise; staying out of debt is vital to ensure that you don’t end up in the same financial injury. Living debt-free is not rocket science. All it requires is the consciousness that healthy finance is essential for you to live a happy life.

You may want to check out our previous articles 9 Brilliant ideas to pay off debt fast in 2021 and How to get out of debt: A step-by-step guide where we discussed extensively how to find your way out of debt.

Outlined below are some things to help you live debt-free; have a good read.

Make a list of your income and expenses

The first thing to do to ensure that you don’t fall into debt is to plan. Planning is such a vital step to success for anything we want to do in life. Indeed, if you don’t want to fail, you cannot neglect to plan. This doesn’t have to be complicated in any way. It’s as simple as you putting down words and figures. The first step in this process is making a list. You need to see on paper, what your finance looks like. It may not seem like such an important thing to do, but it is necessary. Making this list, all you have to do is write out what you earn on one side. If you have different streams of income, put it all on paper. Then, write out your expenses on paper, everything you know you spend money on monthly. Depending on when you receive your incomes; you can make it weekly or bi-weekly. Just compare how much is coming in against how much is going out.

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Create a budget plan

The next step in the planning process is to create a budget. Based on your analysis from the step above, you should assign every dollar/naira you earn a task. You cannot afford to be passive with your money, give them work to do. They are available to make life easier for you right, but if you don’t tell them what to do, they cannot help you achieve that. You have to understand also; depending on what the ratio of your income to expenses is, you might need to make certain adjustments. In fact, if you want to stay out of debt, you NEED to make those adjustments. This step is not as difficult as you may think, if you do not know how to go about this process of creating a budget, you can use a budgeting app to make it easier for you. There are so many choices out there so you must choose wisely because your financial needs may be different from your neighbour’s.

Be intentional about your money

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This tip can be summarised into the first two steps already outlined. But it is such an essential factor that deserves special attention. Intentional merely is being deliberate in your actions. Therefore, being intentional about your money requires that you don’t leave anything to chance. Conscious money habits will ensure better financial health and keep you from running into debt. So, as basic as the first two steps might seem to you, you really cannot neglect them.

Do not make purchases based on emotions

It is very easy to spend to make ourselves feel better. The painful truth is that the things you buy won’t make you feel better. They cannot take away that feeling, because when the initial gratification has waned, you would still be left with that emptiness you were feeling in the first place.

Unsubscribe from sales emails

Everybody likes to get the first updates for those juicy deals and grab them as they come. If you have not planned for it, please don’t do it. You have to unsubscribe from emails that make you spend more money. Remember that the person sending those emails wants to make money. You do not need to place that instant ordering; turn it off.

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Maintain a good credit score

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Remember when we talked about how to stay out of debt; one of the tips offered was to negotiate lower interest rates. Having a good credit score qualifies you for lower interest rates. More than that; having a good credit score grants you more negotiating power, better insurance deposits, easier approval for loan requests, it also affords you higher credit limits. Overall, having a good credit score places you on better standing than having a bad one.

Do not tie up your money in illiquid investments

As necessary as an investment is, you must engage in those with high liquidity as opposed to illiquid investments.

Earn more money

There is no human on this planet that this idea will not be appealing to. We always want to have more money, no matter how much we already have; it’s in our nature. The simple ways to earn more money is to get a side hustle, become a freelancer or contractor; use your skills to make money. With unlimited access to technology, the world of work offers more opportunity than ever for anyone to turn their skills into pay.

Staying out of debt can be summed into these few words; “Live within your means”. The way to ensure that you do that is by planning. Be intentional about your money. Life can happen at any time but even when it does, with a proper plan already in place, you will be better equipped to handle unforeseen circumstances than when you don’t even know where your money is coming from.

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Personal Finance

How to get out of debt: A step-by-step guide

Follow these few simple practices and you may well be on your way to living a debt-free life.



The crowding out effects of rising States' debt: Why Nigerians should worry, How to Get Out Of Debt: A Step-by-Step Guide

Having to run or hide from someone just because you owe them some money is not a very fun exercise. But what if you didn’t have to do it, what if you lived debt free? Hold your gasps; it’s not so shocking. It is very attainable, and if you can follow the few simple practices we’re about to examine, you can be well on your way to FREEDOM.

Here, we’ve outlined necessary steps to help you live debt-free;

READ: How to make more money solving problems

Gather your data: These include records and information that contain your bills and expenses, income and source(s) of income, credit score etc. the goal here is to get you acquainted with yourself. You have to know yourself well enough to understand your spending pattern and identify critical areas to adjust or habits to do away with.

Understand your debt: Make a list of all your debts, all that you currently owe, and how much interest rates are charged on them. Remember to include the minimum required payment for each debt. This would help you understand the type of debt(s) you owe. Understanding your debt will help you know how it happened and give you a clearer perspective on how to clear it. If you have more than one type of debt, it can be challenging to keep track, and you may find yourself always paying money and not even knowing if you are a step closer to clearing your debts. But you cannot begin to pay off your debt until you understand what the figures in your records represent.

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READ: Football: Manchester United net debt rises by 133% to £474.1million

Create a budget and debt pay-off plan: Creating a budget should have come as a first step. However, that would be more effective in the situation that debt doesn’t exist, because one of the reasons for budgeting is to make sure that you DON’T fall into debt. Having gathered your data and coming to terms with what the records are; the next thing to do is to create a plan. There are different tools you can utilize to help you. A simple keyword search would give you an idea of what to do. The budget plan doesn’t have to be complicated, create a list that you would be able to understand and stick to the program.

(READ MORE: How declining interest rates, others drive a shift in Nigeria’s investment sector)

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Lower your interest rates: The reason why people fall into debt and find it challenging to pay is due to the interest rate charged on their actual amount borrowed. You see; because you are required to pay interest rates on that money, it drags out the length of time you could payback. Negotiate your interest rates lower. Even when you may have already borrowed and started paying it off, if you find it challenging to complete payment, you should consider asking for lower interest rates. Depending on who your lender is, and how persuasive you are, you may find yourself having less to worry about.

READ: Afreximbank posts $217m net income in 9M 2020

Pay more than you have to pay: Another reason you could remain indebted to someone is when you stick to just paying the monthly required amount. Because of the interest charged on most loans, you only concentrate on paying that specific amount for that particular month. That keeps you in debt because instead of bringing you closer to clearing your debt, you are only dragging it out. Regardless of the interest rate, if you can pay more than the expected amount, you should go on to do so. It is something that you can discuss with your lender. It serves both of you because the faster you clear your debt, the quicker he gets his money back.

Earn More Money: To settle your debt, you have to go out of your way to ensure that your income supersedes your expenses. One way you could earn more money is by starting a ‘side hustle’ or taking a part-time job. In this modern age, there are more opportunities than ever, for anyone to diversify their streams of income. And most of these gigs are conveniently remote; you can run them from the comfort of your home. Of course, any human would be elated at the prospect of earning money, and when you are in debt, you just have to go out of your way to do everything possible to clear.

Curb Your Excesses: If you are in debt and you are finding it difficult to clear, evaluating your lifestyle habits could help put things into perspective. You have to be honest with yourself. If you want to pay off your debt faster, you’ll need to cut your expenses as much as possible. One tool you can create and use is a bare-bones budget. This is a strategy you can use to make your expenses as low as it can go and live a minimalist lifestyle. Live only on bare necessities and do away with frugality.

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No matter the type of debt, you can always clear it. Never believe that it is impossible. Always remember to have a plan. You really cannot afford to leave your life to chance. Be intentional about every aspect of your life, especially with your finances.

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