Increase your income

by fireninja

Mrs. FIRE Ninja and I have just begun our journey to financial independence and possible early retirement. We are now mainly delving into the information on the topic. We try to apply the things we read and learn in practice and share them with you via this blog.

In addition to saving and investing, increasing your income is an important part of building your wealth. You can divide your income into passive and active income. Passive income is income that comes in without you being actively involved. Examples are: rental income, dividend from your shares, interest on loaned money, etc … but before you get there, increasing your active income can help a lot. Active income is money that you earn from, for example, your job, side job, side hustle or other income that you actively have to work for.

Our goal is to create sufficient passive income to cover our expenses. This means that we are then financially independent and no longer have to work if we want to. We recently started with the following ways to actively generate more income.

Change job

Mr. FI / RE Ninja is investigating whether he can change jobs in order to generate more income and gain new knowledge in this way. With this new knowledge / experience, he increases the chances of an even better job in the future or contributes to finding an assignment as a self-employed person.

Develop new skills

Mrs. FI / RE Ninja has started an evening hairdresser training to learn how to cut. At first mainly because this seems nice, but also to cut the hair of Mr FI / RE Ninja and the four children and save money while doing so. If she really likes it and it goes well, then Mrs Fi / RE Ninja will consider cutting others as well and earn some extra this way (side hustle).

Setting up a blog

Another attempt to generate more income is to set up this blog. Besides the fact that it is nice to share our experiences, we also hope to be able to get some income from this in the long term. For the time being this will only remain an expense.

Selling stuff via Marktplaats (sort Ebay in the Netherlands)

Selling stuff through Marktplaats that you don’t use or need can still be quite profitable. We were able to sell quite a few things, which resulted in a nice small amount to invest. It is more laborious than previously thought. The platform works well, but you will have to deal with all kinds of people. People who don’t show up, bids that make no sense, communication that stops. You can hardly think of it as crazy and you can experience it on Marktplaats. You should also be aware of scammers… our tip: don’t be too trusting.

Sell ​​books through Bol.com

In addition to selling stuff via Marktplaats, we were also able to sell some books via bol.com. This was very easy and is highly recommended.

Have you gained inspiration from this article or do you have tips for generating more income? Let us know by leaving a comment!

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