Not all income means employment, and more income streams mean more financial security. Having secondary sources of income has become the norm for most people, with some using it as not only a way to get by but also to save for retirement.

People have realized over the years that a 9-5 job can never be relied on to sustain their livelihoods indefinitely, with pay cuts and layoffs always around the corner. If you haven't joined the trend and you're wondering how to stop putting your financial eggs in one basket, here's how to do it.

1. Diversify Your Investments

If you're an investor, you'll always want to diversify your portfolio as much as possible. The good thing is that the options are endless, and you can go as far as you'd like to stay employed forever.

There are tons of ways to diversify your investments, from investing in ETFs and opening a brokerage account to bonds and stocks that are known to pay dividends. While these are options that can send real income your way, the possibility of a loss is also a possibility, which makes it more advisable to understand the risks before investing.

2. Share Your Knowledge and Skills

In a world where everything is constantly evolving, more and more people are looking for online courses and workshops to teach them various skills that they require. We all have that one skill that we rarely use at our place of work, and you'll be surprised that there are people out there willing to pay to learn it.

Knowledge and skills are intangible products, and you could sell them long-term without their diminishing in value. For example, there are millions of people looking for crypto and blockchain trading classes online. While it's hard to establish a reputation, it can turn into a solid passive income source.

3. Offer a Service or Sell Something

In addition to your day job, you could offer a side gig. In this case, the service you offer could be in tandem with your knowledge and talent, hobbies, or a learned skill. For instance, if you're an accountant, you could offer extra accounting consultancy or a free-time photography gig if you enjoy photography.

If the service industry is not your cup of tea, you could try selling various products through a third-party company. While this may be a good way to get the money flowing, you may have to recruit people to sell under you which is less than ideal for most people.

4. Lease Space and Belongings

Another way to make extra income is by renting part of your space or even your belongings to willing people. One way to do that is by turning that extra room in your house into an AirBnB. This requires little investment, as the only thing you need to do is create an account on AirBnB and look for guests who prefer a home-like environment.

You can also rent out the room to permanent tenants on a monthly or quarterly basis. Belongings that you can rent include your car or even the deep freezer that you don't use regularly.