Active income source 

The money you make from your main work or company is your active income. It is the money you earn by trading your skills and time for money. Active income needs constant work to produce, in contrast to passive income, which comes from investments, real estate, or other sources.

For most people, having a steady source of income is essential since it's sometimes the only way to cover everyday expenditures and keep up a decent level of life. Here are a few illustrations of current revenue sources:

1. Wages or Salary: The majority of people receive their active income from a regular employment. An hourly rate or a salary are two possible options. An hourly job pays you according to the number of hours you put in, but a salaried position often comes with a predetermined annual salary.
   

2. Self-employment is another well-liked type of active income. It entails launching your own company or working for yourself. Finding clients, overseeing your work, and charging them for your services are all your responsibilities in this situation.
   

3. Working on a commission basis: Some people work on a commission basis, such as in sales, to support their active income. In this scenario, a portion of the money made from your sales goes to you.
   

4. Consulting: Another source of current revenue is consulting. You can promote your subject-matter knowledge and charge clients for your counsel.
   

5. Jobs in the gig economy: The phrase "gig economy" describes a developing trend of temporary or contract-based employment. Examples include providing transportation services for Uber or Lyft, making food deliveries for DoorDash or Grubhub, or working as a freelancer on websites like Upwork or Fiverr.
   

An active source of income provides a number of advantages. First of all, it offers a consistent source of income that you can use to pay your bills and put money down for the future. Second, it enables you to get useful knowledge and experience that may help you improve in your business or job. And last, it provides you a feeling of freedom and financial control.

However, relying only on active income has certain drawbacks as well. The fact that it is constrained by the amount of hours you can work is one of the biggest disadvantages. It might be challenging to gain financial independence since you can only make as much money as you can work. Additionally, taxes on active income are often greater than those on passive income.

Relying only on active income, however, has certain drawbacks as well. Its limitation to the amount of hours you may work is one of its key negatives. Financial independence might be challenging to acquire since you can only make as much money as you can labour. Furthermore, active income often pays more taxes than passive income.

In conclusion, the majority of people's financial status depends critically on an active revenue source. It offers a consistent income that may be utilised to pay bills and put money down for the future. However, depending only on active income may restrict your earning potential and make achieving financial independence challenging. As a result, it's critical to think about diversifying your income sources in order to establish a more secure and long-term financial status.

Thank you