Australian Finance Podcast Summer Series Part 4: Income & earning more: Increasing your Active & Passive income
10 snips
Jan 8, 2026 Discover the exciting world of income generation as hosts explore the differences between passive and active income. Learn why millionaires often focus on multiple income streams and gain insights on increasing your earnings now and in the future. The duo shares their personal financial targets and creative plans for their $10,000 challenge, including Gemma's decluttering sales and Owen's small ventures. Plus, get practical tips to advocate for your pay and bridge skill gaps for greater financial success!
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Earning Beats Endless Cutting
- Increasing what you earn can be more effective than endlessly cutting expenses to reach financial goals.
- Your capacity to cut is limited, but earning has no predefined ceiling if you upskill or change roles.
Multiple Income Streams Matter
- Millionaires typically have multiple income streams, averaging around seven different sources.
- Diversifying income types (salary, dividends, rent, business profits, royalties) reduces single-source risk.
Pay High-Interest Debt First
- Prioritise paying high-interest debt before investing because debt interest often exceeds market returns.
- Still, do small, low-cost investing to learn while you reduce debt if it motivates you.
