Many people believe in tithing. Not only can this support your church, it can also support any charitable activities they would like to participate in. If you want to increase the amount of money you have available to donate to these causes, finding a way to raise your income is a great place to start.
If you are looking to increase your income, you may not have to seek new or additional employment. For those who would like to find an alternative to traditional employment in order to increase their tithe, consider the following ways to increase your income.
Investing for Income
When most people think of investing, they tend to focus on their retirement accounts. While investing for retirement is important, you can also invest in order to increase your income today. Whether you want to manage your investments yourself, or prefer to use a service, like the Forex Manage Account Services offered by some businesses, creating a suitable portfolio can allow you to generate more income for use throughout your life.
An easy way to begin is to simply consider investing in stocks or bonds. You can choose to use a website that allows you to choose to make trades when and how you prefer, or you can work with an advisor to help determine a plan based on your personal goals. While no investment is truly a guarantee, you can make decisions based on the amount of risk you are comfortable with. If you feel unprepared to invest in individual stocks or bonds, then choosing a mutual fund can help you diversify without having to make individual investment choices on your own.
If you have the ability to purchase additional real estate property, you may be able to earn income by renting the properties out. This can allow you to earn income through the rental payments, while maintaining the property as an asset. You can choose to manage the properties personally, or hire a company to handle the day-to-day in exchange for a portion of the rental fees.
If this is your preferred way to increase your income, make sure to keep a sufficient amount of funds available to make any necessary repairs that may be required, as well as manage any property taxes that will come due. You will also need to maintain insurance on all of your properties.
If you consider yourself a photographer, you may be able to earn income from your photos. Stock photography sites are often considered a way to earn passive income, as you can earn money from the use of your photos multiple times.
While it does require some upfront investment in regards to time, both for taking the photos and to complete some post-processing, once the photos are on the site, no other real maintenance is required. This can make it ideal for someone who enjoys taking photographs on their own, as it can allow a hobby to turn into a source of income.
Consider Your Other Hobbies
If you participate in a hobby that results in an item that could be sold, then you can continue doing an activity you already do, but do it for profit. Many websites exist that allow people to sell homemade goods to customers across the country, or even the world.