How to create multiple income streams. If you are relying on a single source of income then it is a very risky situation. If that single source of income dries up then you will be dire straits. If you have only a single source of income what you can do is increase the number of streams of income. It is not so difficult as you are thinking. You have to just apply your mind and decide upon the different other streams of income that you can generate. Sit down for a moment, think of all that you are capable of, all that you would love to do, just write them on a sheet of paper. Once you are through, then go thru what you have written and select all that you love passionately. Those are the seeds for you to build more than one stream of income. You will find below some of the popular passive and active streams of income used by many to increase their wealth.

• Have a part-time job along with your full-time job. It can also be a part-time job that you can do sitting at home on week days or on all the seven days after your office hours.

• Start a freelancing job. You may be good at selling, teaching children or adults, writing software code or repairing computers or other gadgets. Do a research and find out the opportunities that are available on what you are good at.

• Create a product. We belong to the community of 'NattuKottai Chettiars' and live in Chettinad (Tamilnadu state, India). I have an aunt who learnt the various recipes for preparing Chettinad Pickles. Look at what she did with her knowledge. She began to prepare pickles and sell them through her web site on the internet. She has also written recipe books in Tamil (later on got it translated to english and other Indian languages) on how to prepare these pickles. These books are sold by her thru her web site on the internet. She now has a steady income which averages about Rs.5,000/- per month and she spends it on visiting places and sight seeing. She enjoys her life with this additional stream of income.

• Start a small service business. My friend has a mobile service center. Learn how he started this business. He found that in Chennai City almost everyone has a mobile. He also found that there are three categories of Mobile Phone customers. One is the group that can afford to buy a new mobile when their old one is not working. The other is the group that does not have the luxury to buy a new mobile when their mobile breaks down. The third is the group which cannot afford a new mobile and is looking out for a second hand mobile. He decided his target customers as the ones who are looking out for a second hand mobile and the ones who want to repair their mobile phones and cannot replace it with a new one. He collects broken down phones, repairs and also sells them. He says he gets a steady income of atleast Rs750/- to Rs.1000 per day.

• Write an e-book. This is a job that will suite most of us who have the urge to write something. If you are a house wife then you can start writing an e-book on a subject that is based on your experience - your practical experience. For example you can write a book based on your experiences while bringing up your children.

• Providing a consultancy service. One of my colleague who was working with me in a bank used to process loan applications. In the process he learnt all the shortcomings in the loan proposals while at the same time what exactly a bank is looking for in an application to sanction a loan. With this knowledge he resigned from the bank and has now started a service from his home. He goes thru the application of prospective people who want to take a loan to purchase a house. He gives them suggestions on how to fill up and what are the documents to submit. With his knowledge as a loan processing officer in the bank his suggestions are exactly what a bank is expecting to sanction a loan. So the chances of an applicant getting a loan are more if he gets the application prepared thru him. Thru word of mouth his services has grown multifold and now he has appointed assistants to help him out. I asked him how much he charges and how much he earns in a day. He was very secretive, and not want competition to hot up.

• Start an affiliate marketing blog or web site. This is the easiest. Create a web site or a blog on a subject you are passionate about. There after become an affiliate of ClickBank, Google Adsense and others. Select the products that match the contents of your web site and advertise them on your blog or site. For products of Clickbank you get a percentage of the cost as your commission for every purchase that is made thru your site. For google adsense it is cost per click. When a visitor to your site clicks on the google ads you get a commission. For google adsense the CPC-cost per click will be a small amount. To make a good income out of google adsense volumes are important.

  The bright side is these are passive incomes. You need not do anything further after creating and adding contents to your blog or web-site. The income keep coming. By search engine optimising and by popularising your blog or web-site you can considerably increase the income flow.