In today’s world, everyone needs additional source of income to meet rising costs. While your salary will pay majority of your expenses, having additional income does help.

Now you must be wondering how to earn extra income. Well, then here are some good tips to earn additional income

• Interest: Do you have an FD with a company or bank? Or you may be holding a recurring deposit with bank or post office.  Then you can opt for receipt of interest, which you can use as extra income.
• Dividends: If you hold shares or mutual fund units and have opted for dividend option, this can be your source of income.
• Rent: Renting out your home or car can fetch you rent, which can be a source of additional income.
• Residual income: Are you an insurance agent or in networking marketing? The commissions you earn will become your residual income. Even if you are not working, you can continue to get income.
• Selling on ebay: Ebay lets people sell items and earn revenue. This can be done either as a part-time or full-time business.
• Part-time work: Do you love preparing food items or handicrafts? If so, you can sell them and earn a good income. You can also take tuitions as a source of your part-time income.

Besides this, any lottery winnings, inheritance, etc will also contribute to your monthly income.