Make Wealth Flow Towards You!

Money Management Simplified (Part 3)

Posted by on May 5, 2010 in Money Management | 127 comments

In Part 1 and 2, I explained how to simplify managing your money. If you have not read them yet, please Click Here to read up on what you’ve missed.

In this article, I will finally explain how to increase your “take home” per month without adding any additional bad expenses for you!

Let’s begin. For this article, I’m going to start calling “Take Home Money” =  “Income Streams”. The end goal is to increase your income streams so that it will be more than your expenses. Look at the diagram below:

So let’s focus on Income Streams. Simply put, there are really only 2 kinds of income streams that you have to understand and concentrate on to increase the money flowing into your lives. These are

1.) Your Main Income Stream – What pays for the Necessary Expenses

2.) Your Additional Income Streams – What will get you from scenario 1 to 3

For those who have No Income Stream at all, then good news, this article will help you get started on your first income stream.

Now for those who have a Main Income Stream already, you must Keep and protect your Main Income Stream (at all costs) and keep on adding Income Streams to it.

Today, I will give you two of the most doable ways to start or add an income stream and explain how to do it step by step. By the way, you are not limited to doing just one of them, you can actually add both streams at the same time!

Additional Stream 1: Turn your “Good Expenses” into Income Stream(s):

Step 1: Make an inventory of all the items that you already own and classify them into either of 2 columns “Can be sold” and “Can be rented out” like below:

Can be sold Can be rented out
Ex. 1. Wedding gift Toaster Oven Ex. 1. Play Station Game Console
2. Old Cell Phone 2. Chocolate Fountain (Or any othergadget)
3. Old Comic Books / Collectibles 3. Re-usable College / High Schooltext books
Etc… Etc…

Step 2: Create a price list. Here’s a quick guide on how to do that.

  • Come up with a reasonable price for each item. If the item is new (you never got to use it) then sell it or rent it at current market price (it can also be lower than market price, just make sure that you still make money from it), if it’s slightly used, sell it or rent it 10% – 50% lower again, just make sure you still make money on it.
  • If it’s for rent, you may ask for a refundable security deposit. The refundable amount would ideally be how much the item cost you or an amount that the customer is willing to give and would want to get back. (Just make sure it’s realistic)
  • Add delivery costs if you will deliver it. Or you can say prices are by pick up only if you can’t deliver it.
  • Include a nice quality photo of the item whenever possible and remember to make it look presentable.
  • Then place instructions on how they can pay for it. You can use this line: “Hurry First come. First served, contact us now at (your telephone number). For your convenience, you may deposit payment at (Bank Account Number) Or you can use G-Cash (Globe) or Smart Padala (Smart).”

Step 3: Advertise it for free by holding a “Virtual Garage Sale”.

-A “Virtual Garage Sale” is very easy to do: Email the list in step 2 to all your friends and tell them that you are selling your stuff and would like them to check out the items that they want to buy. This saves you the trouble of organizing a Physical Garage sale especially if you do not have the space to do so.

-You should also try selling your items on , Facebook, even Multiply. Go to the respective websites, open a free account by following instructions and start posting. This is also free.

Now, don’t be limited to just these ways, there are lots of other places for you to advertise your list for free, all you have to do is go to and type: “Free Directory Listing” then start posting in those sites.

Additional Stream 2: Turn your Skill into additional Income Stream(s):

Step 1: Make an inventory of all your skills like so:

My Skill I can offer:
Ex. 1. Good in Math and loves kids Ex. 1. Freelance Tutoring Services
2. Good with Computers 2. Freelance Computer Repair Services
3. Good with cooking 3. Small Scale Catering Services
Etc… Etc…

Step 2: Pick one skill, test the market, and gain experience by offering to do your first 3 to 5 jobs for free. Here are a few guidelines to doing this right.

  • Start by offering your services to family and friends only and say that you want to try this out first with them. Limit the “Free” service for 3-5 clients / projects and see if this service is something that you would enjoy doing for a fee.
  • Ask for honest feedback from your family / friends about your service and if they would be willing to recommend you to their friends. Get their honest inputs and improve based on that.
  • If within the first 3-5 jobs you feel it’s not for you, go back to your list and pick another skill and test the market again. Do this until you figure out what you are passionate about. Once you figure out what skill you are willing to sell, proceed to Step 3

Step 3: Price it, and advertise it for free by word of mouth and through the Internet.

-Let your Family and Friends be your advertising machine. Word of mouth is always the best advertising there is.

-You should also start advertising yourself on Social Media Sites like Facebook, Multiply, and possibly even start your own Blog to highlight your skills and who you have served.

Now these are just 2 ways to start increasing your income streams as soon as possible. There will be more to come in succeeding articles of mine. Stay tuned for that. In the meantime, I hope that you learned something from me today and start building your income streams now. Good luck and all the best!

Okay, here are your 2 assignments:

1.) Scroll down to the bottom of the article and leave a comment.

2.) Read the next article – “How to Make Money Run After You Part 2”


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Join the conversation and post a comment.

  1. markso

    If My Money Management Articles have helped you in some way or form, I’m pretty sure it will also help your friends, please spread the joy of learning, email your friends about my blog, in the email place my blog link:

    I assure you they will thank you for it as there are lots more articles I still have to post.

    It is truly a pleasure being able to help others. It makes me feel good and I hope it will do the same for you.

    Keep Reading, Keep Learning, Keep Sharing!

    All the Best!

  2. Jerem De Leon

    Hello.. My girl friend told me about your blog page. I’m a struggling business man full of ideas & passion.. 🙂 I just don’t know where (more of how) to start. But thanks to your tips, I think I’ll get to that point. Thanks again!

  3. patty

    expanding your means and not living below your current means is a great financial advice….thank you for sharing these specific step by step approach.These articles should be part of a school’s curriculum.Looking forward to learning a lot from you and your company…and expanding our means too…. 🙂

  4. Trina

    Thank you for this…it came at just the right time…will try out your suggestions soon…

    Keep these helpful posts coming!


    • markso

      Welcome Trina. If you have not yet done so, subscribe to my blog at the upper left hand side to be notified of new posts. Also, do share this and other articles of mine on Facebook or twitter so that all your friends may also benefit. Keep reading, keep applying, keep growing!

  5. Lovella Mendoza-Go

    Great Advise Mark on increasing income!!! Indeed there are many ways! If there is a will there is a way!

  6. Glo

    I tried selling online and tutoring before to have an extra income then I stopped because I did not focus on that and I guess that those are not really what I wanted to do… I should start with what I am passionate about, right sir?

    • markso

      Absolutely right Glo. Making money is not sustainable if you don’t enjoy doing it. Find that one thing that makes your heart sing when you do it. When you find it, money will flow naturally and without hesitation towards you and you are definitely heading in the right direction of creating wealth that truly lasts. Excellent Glo! You’ve finished all 5 articles in less than 2 hours! How do you feel?

      • Glo

        I feel great! Actually, I am here in the office and I am not that busy instead of Facebook and reading news online, I decided to read and learn from you. Thank you so much and I look forward for more inspiring articles and tips from you and your wife! God Bless!

        • markso

          Good, don’t forget the last assignment in the first week of the wealth plan. Email me what problems you encounter in implementing these lessons. Or what realizations you have once you have tried these lessons in your life. Talk soon!

  7. Josephine Yu

    Creative ideas to make additional income. Do you have any suggestions for senior citizens? 🙂

  8. Romeo Teodoro

    Mark, you are teaching practical ways to do business and make money. This absolutely not being taught in school. Thank you, Mark.

  9. patty

    Hi ! Mark and Jhoanna, having read this article again, made me reflect again what additional income stream i can start Now ….thanks! 🙂

  10. Noel De Leon

    Brilliant article! Simple and easy to follow ideas to create additional income. Thank you for this Sir Mark. By the way sir, I’ve been thinking on becoming a freelance photographer. May I ask for your advice on what is the best way to tap the market and promote myself especially that nowadays there are lots of talented professional photographers that clients trust more than freelancers like me.

    • markso

      Yes, I think you should pursue that. One way is to create a website / blog to get yourself and your portfolio publicized. I think you have a lot of pics uploaded on facebook, create a separate website as well. Also, please re-read step 2 of turning your skills into additional income streams as it outlines how to do it.

  11. Mamy

    That’s my problem right now. I want to have an extra income but don’t know how. Wanted an online store but do not know how to start it.

    • markso

      Mammy, google this phrase: “how do I start an online store?” you’ll be amazed at the stuff you will find. All ittakes is just a little research. Talk soon!

  12. Nabila Conde

    I am still finding out how can I increase my income 😉

  13. Justin Dy

    Hi Sir Mark,

    Multiple Streams of Income.

    In this article, I realized the importance of having multiple sources of income while learning to keep your focus. The problem I had before was I got involved in so many things which eventually led me to confusion. I know a lot of things but I don’t have any specialty until it came to me that I have to focus on my core gift and that is finance and investments. That is why right now, I am devoting most of my time in improving my financial knowledge and focusing only on income streams related to finance.


  14. richard c viador

    hi mark,
    Praise God!!! truly this same with justin i had so many things to do but focusing on my core gift is left behind.thank you so much for a wonderful insight,i will do my very best to change myself and follow ardently your teachings on financial wellness. All the Glory be to our loving God!!!

  15. CJ

    This is really helpful. Must think of ways on how to earn those extra income streams.

  16. Eric

    We’ll surely practice your formula. Thanks.

  17. Paul

    Hi Mr. Mark, I know I can type well and quick that’s why I want to try a Freelance Transcriptionist or Translator sideline. But I do not know where to start. Also for the prepaid loading I have in mind, please advise how should I deal with pay-later set-up?

    • markso

      Hi Paul, everything can be googled. You have to do your homework and do research. Google your questions, find answers, then go for it.

  18. Rico

    You gave me some ideas Mark..I think my sis, jobless, can benefit from your advise.

  19. Robert Rafson Chua

    Mark, your suggestions are really informative and it opens a lot of doors… so thank you again. hope to have more of your articles!!! God Bless!!!

  20. tes di

    ‘”income of multiple streams”.. that is truly a challenge… i have yet to set another batch of GOALS in order to overcome my complacency, only then i can think of new income streams

  21. ULY

    Hi Mark,

    This particular articular made me think of somethings like, “how do i make a good expense become a source of income later on?”, “how do i measure if an expense is necessary, unnecessary or bad for me?” , “what other skills do i have to add to my income streams?” I guess, its time for me to do something concrete about these thoughts. Thanks Mark.

  22. jing

    Having multiple income streams is really important this days where job security is not certain.
    I’m still trying to figure out ways of having income streams being a stay-at-home mom.

  23. adrian

    good advice. i have never thought of renting my stuff or turning my skills into additional income stream.

  24. JP

    i will do this things, multiple streams of income. sounds very fun and good of course into our pocket. it’s money money money. yeah boy. good job sir mark.

  25. Watch Men In Black III

    So I have wondered in a very unique page good stuff you have here

  26. marichu

    Wow, this is so practical and right now, i want to try it. im good at computer and im thinking of making designs for invitations and typing jobs for school projects..

  27. Gigi Bernabe

    Hi Mark! Hope you’re having a nice day!

    This is really exciting! I think I’m going to finish the assignments in Part 1 today. I can’t wait to read the next article. Kudos to you and Jhoanna for this! God bless..

  28. Free Movies

    No way thank you for all your info

  29. TJ

    Interesting – additional income streams. Now you actually helped me identify my problem. With expenses, they are fixed necessary expenses, too high: electricity, etc. But I find it difficult, if not impossible, to create additional income streams when my job requires no absences and takes most of my time so that by the time I get home, I’m too tired to do anything. Can’t even talk to my kids or wife anymore. I just drop dead, i mean sleep. As with skills, I don’t think I have any. I’m at my wit’s end.

  30. lolly

    i will try the method of reselling. Thank you for this article.

  31. faith

    am glad to be in the right track. have applied your tips.

  32. Ira

    Oh yeah! I am really getting the virus.. it’s addicting to write everything.. i didn’t realized, I’ve had so much stuff accumulated in years.. and most are non-value..huhuhu.. But nevertheless, I am glad I ‘ve got a new journey for this year. Super thanks for all these MArk…God bless.

  33. don

    thanks for the advise mark, i sort of doing that sideline skill for sometime now, keep on giving great business ideas and tips!

    • markso

      Good to know. You can share what you do on this blog if you want, that way, you get to inspire more readers. All the best to you Don

  34. Kathline Habegger

    You have remarked very interesting points! ps nice site.

  35. Joesph Marzocchi

    I greatly like this post… If you will post more.

  36. elaine

    I’ve been wanting to dispose some of my things, now I am inspired kasi I will make money from them!

  37. RHEA

    Great article, sir! Thank you for sharing your knowledge to us!
    God bless!

  38. marleneS

    Thank you! This is an eye-opener for me. Got a lot of stuffs at home which I can put on a garage sale.

  39. Alvin

    Hi Sir Mark!

    Thank you for this awesome article. I’m seriously contemplating renting out a few musical instruments that we have lying around at our house. 🙂

    I have a question though. How much should I charge as safety deposit? Ideally, I want to it to be how much the items cost. Just in case it gets broken, or …they don’t return it.. hahaha
    But this might not be possible as the electric guitar alone is worth 30K already. I doubt that people would be willing to put down a deposit that high.

    Do you have any suggestions on how I can make this work?

    Thanks a lot & God Bless!

    • markso

      I suggest selling it instead, but if you want to rent it out look at getting insurance for those instruments first that way if anything happens to them you are covered and you can ask for a smaller bond.

  40. Faye Chua

    Very practical ways to add income. I am actually doing some of the ways you mentioned.

  41. James

    Great! Doing this step already…BUT! It made me want to add more! Time to re-evaluate mys skills.

    Still inspiring… next please!

  42. aldwin daus visaya

    a million thanks! i’m now thinking for feasibility study in a business some what i’ve figured out before. again, pls pray for us….

  43. Nelly Y. Rosario

    Thank you for the practical tips on how to make more money! I have already started by selling bags and some jewelry items which I’ve accumulated when I was still working.I plan to expand this to include other items I still have.Great article!

  44. Yllen

    Thank you for the tips on how to increase my income streams. I have actually started selling some of my jewelry items which I have accumulated when I was still in the corporate world.I can expand it to include my other stuff and in the process make additional income and unclog my closets/cabinets.Selling things on line is a good idea.Thanks again!

  45. Susan

    Thank you mark. i will increase my income streams through my skills and talents…

  46. Ken Dela Cruz

    Thanks sir Mark! Knowing oneself and action will lead to more income streams. Gotta work smart!


  47. wendy

    thank you for the tips and advises. definitely gave me an idea what to do next.


  48. Aze

    Thank you for giving ideas, Mark! It’s time to treasure hunt in my closet. Kaboom! 🙂

    I actually have other thing that adds to my Income Stream. I am a dealer of a direct-selling company. And I enjoyed it because I identified a “market” in my office. They are the ones who are asking me the brochure.:) Why not take the chance, right?

  49. glenda

    thanks for teaching me now as start for cash management. God bless

  50. tex

    Good Ideas, I’ll try them out. Thanks.

  51. Djoanna

    I’m a hoarder and very sentimental about keeping old stuff.
    Thanks for this post, I realized that being more practical is what I have to be.

  52. bheng

    very simple and practical ideas i just need to apply it on my everyday living please pray for me and thank you for sharing your gift to bless persons like me God bless.

  53. Manessa

    Selling those that are useless to me already is a good way of cleaning my closet and increasing income. I’ll also look into being freelance photographer.

  54. betty

    wow….more specific on how to start….been reading financial literacy more seriously these last few months although i have been learning a lot from them and saw patterns..i still don’t know where to start…and on this specific article..i found it…thank you very much sir…

  55. Robert

    These are really practical tips to start earning multiple income streams. Everyone, without exception, must have another income stream aside from our main income.

  56. Joan

    Wow! This is great! The steps are clear and doable.

  57. Mary Ann G. Cruz

    yes i’ve done this

  58. Ron Domasig

    Well said. Turn your bad debts into assets. Then use your potentials to create more active incomes. Very applicable and simple things that I have to do. 🙂

  59. Arnold

    Hi Mark!

    Praise God for your talent and gift! Thank you so much for refreshing and reminding me of these principles about money! Your way of presenting them is so simple and doable. It’s a wonderful Week 1!

    God bless you!

  60. Gigi

    Hi, thanks for providing ideas on how to supplement the main income stream. I’m thinking of taking a course on foreign exchange trading because this is where my interest lies. I want to attend your orientation on this. Please let me know the schedule and the venue of the orientation.

    Thanks and God bless.

  61. Ruel A.

    One thing for sure, having only one stream of income is not enough, especially if your expenses is big. Sometimes we need to exercise our mind, think on something that would help us to expand our savings and income. Having employed and wait for salary day is not advisable. Look on something that will increase our income.

  62. Marlito

    The article is very helpful and definitely doable, especially selling the “good expenses”. Thank you for the nice ideas Mark.

  63. Nicanor

    Mark, I cash flow is positive and do not plan to generate just any kind of income streams at this time. I am looking basically for what you call ‘exit strategy’.

    Like you I have traded currency before (FOREX even). I was one of those who did well initially but lost a fortune eventually.

    I would like to start all over and learn from someone like you who professes to do well in FOREX trading.


  64. Anthony D. Ang

    Thanks for the idea of creating new income streams to add to your main income. Now I’ve to find out what my core gifts are and focus on them to create an additional income stream.
    I don’t understand why they don’t teach these things in school so that everyone would know how to manage their finances before they face the world.
    I just need your advise or suggestion. When you’ve a parent who’s bedridden and would need constant medical care/maintenance to stay alive, what would be the best way to handle this situation and still be able to accomplish the wealth plan project for your own family’s future?

  65. vanessa padilla

    Thanks for the practical tips! very helpful indeed 🙂

  66. Walter S. Lotilla

    Good evening Sir Mark,
    Thank you for the above useful information regarding Income Streams, I do not have that yet, if having extra cash, I invest it ( medium to long term ) through the stock market.
    I eagerly await our next series.

  67. Faye Carumba

    I am really good at playing guitar. Many are asking for me to teach them but I observed that my guitar lessons are always cancelled.

  68. James

    Hi Mark,

    I would like to know your seminar schedules for this sept to dec.2013.

    God Bless/James

  69. buddy oberas

    Hi Mark, Thanks for giving me the push to explore other income streams thru my own unexplored strengths Bless you more

  70. Katrina Valdez

    Great article! Selling my “skills” is a bit tough for me to do. I feel that my skills are not good enough to be “sell-able.” Looking forward to more tips on how to increase income streams.

  71. Jem Castro

    Hi Sir Mark,

    I have formulated an additional income stream for us while reading on this article. As I have mentioned from my earlier comments, my wife and I has a small business which is website designing and development. There were times that we can even closed a deal at 40,000 to 60,000 but it doesn’t happen right away as it would be needing lots of presentation and time for the company to decide if they will hire us or not.

    We have an urgent need of additional income stream now as I am on negative and I need to pay my debts and loans. Our strategy is we will offer our services at 50% – 60% off. In that way we can get a client right away as we will advertise it as a promo only and that they have to make a decision right away if they would like to avail the discounted price.

    I like the renting option as well, what I have now that I can have for rent is my magic sing, I will formulate a price and have it advertised in our village.

    Forwarding now…


    Jem (Zac) Castro

  72. evelyn concepcion

    I learn some tips on how to manage items based on priority such as wants or needs. I really practice this method.

  73. Cess

    At my age, I will be needing lots of courage to do that. Another easier said than done for me.

  74. chel

    Hi sir mark! do you have other suggestions for student ? I actually tried an online shop at first it seems to work but at the end it didn’t work.

  75. jeff

    Great article in creating additional income streams. I could suggest for those who are skilled to go freelancing at freelance websites. I did old school freelancing before to augment income however the demands of a steady job in IT takes a lot of time and effort. I’m about to try out as well these freelance websites as I had some time freed up. I will try to give some updates on how it goes.

  76. Jonas

    I totally agree in accumulating multiple streams of income

  77. Rachelle

    Good ideas, will try to do this.

  78. Rita

    Once again Sir Mark, thank you for showing me ways to earn.

  79. Brian

    Thank you for this article sir .

  80. Elena

    Sir, what can I do if I have nothing to sell and zero time to freelance?

  81. Ma. Vidia Largo


  82. Arturo

    Congrats Mark!

    Your ideas are really brilliant for me! 🙂

    Thanks so much! 🙂

  83. amirah

    nice ideas. i wish they will be applicable to me. thanks.

  84. Johna poot

    Dear sir,
    I really appreciated your articles. It helps a lot. Thank you so much


  85. Clint Imperial

    Wow I’m excited to reflect and think of the things that I can add to my income stream. Very Helpful article. Blessings sir Mark

  86. Jobilee-May S. Rubio

    Maganda po itong paraan upang madagdagan ang aming kita at mapakanibangan ang mga bagay bagay na mayroon kami. Maraming salamat po makakatulong po ito sa amin.

  87. Jobilee-May S. Rubio

    Mganda po itong paraan upang madagdagan ang aming kita at mapakinabangan ang aming talento at mga bagay bagay na nasa aming paligid..Maraming Salamat po dito sa inyong payo

  88. Gilbert Z. Apostol

    So true. the article clearly presented practical ways of creating other income streams. Nung una nahihiya ako mag charge sa skills ko like repairing PCs and doing PC-related works. But then I realized, since I am spending my time and effort, I might as well earn out of it. I am now learning other skills so that I can make use of spare time to earn and add to my “cup”. Two thumbs upSir Mark for this article!Thanks.


  1. Money Management Simplified (Part 2) | Wealth Flow Project - [...] 2. Read the Next Article – “Money Management Simplified Part 3″ [...]

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