When it comes to building long-term wealth and financial independence, the secret isn’t just about how much you earn-it’s about how many income streams you build. Whether you’re working a 9–5, running a business, or just beginning your financial journey, diversifying your income can give you financial freedom, flexibility, and peace of mind.
At HerVest, we’re committed to helping women access inclusive financial tools from savings to mutual funds to community investments-that help you earn, grow, and sustain wealth over time.
Let’s break down the 7 types of income you should know and how to start building them.
1. Earned Income
This is the most common type of income—it’s what you earn from working a job or running a business. Salaries, wages, bonuses, and business profits all fall into this category. Earned income is active, meaning you need to trade time for money. While it’s often the first stream of income most women build, it shouldn’t be the only one.
Tip: Use earned income as a foundation to build other streams, especially passive ones.
2. Investment Income
This is the money you make from putting your money to work. It includes capital gains from stocks, interest from fixed-income products, and returns on other investments like mutual funds.
With HerVest, you can start investing in mutual funds with ease – whether you’re a beginner or an experienced investor. These funds allow your money to grow steadily over time while spreading risk.
3. Rental Income
If you own property or valuable assets, you can earn income by renting them out. Real estate is the most popular source of rental income, but you can also rent out equipment, co-working spaces, or even digital assets.
Although HerVest doesn’t directly offer rental opportunities, building rental income can complement the savings and investment goals you set on the app.
4. Royalty Income
Royalties are earned when people pay to use your intellectual property—think books, music, inventions, or online courses. Once created, these assets can generate income over time with minimal effort.
If you’re a creative or knowledge worker, this can be an excellent passive stream to build.
5. Dividend Income
Dividends are payouts you receive as a shareholder of a company. Many mutual funds also offer dividends, making them a great way to receive recurring income from your investments.
With HerVest’s mutual fund options, you can start earning dividends on your money with ease and transparency.
6. Side Hustle Income
Side hustle income comes from part-time work or passion projects that generate extra money. Whether you’re freelancing, selling a product, or offering a service, a side hustle can help fund your savings and investment goals.
Start by setting aside a portion of your side hustle income in a HerVest savings plan or investment to grow it passively.
7. Passive Income
This is the golden goose income that continues to flow with little to no daily effort. While it takes time to build, it’s the ultimate financial goal.
HerVest offers opportunities to earn passive income through:
– Mutual Funds (with up to 23% annual interest)
– Community savings via Cliq (save with friends and stay consistent)
– Investments in women-owned agribusinesses and female farmers
These options not only help you earn passively, but also empower other women and communities in the process.
Start Building Today with HerVest
You don’t need to have it all figured out. Start where you are—with what you have. Whether it’s ₦1,000 or ₦100,000, every step counts.
Download the HerVest app today to start saving, investing, and earning in ways that support your future and elevate women across Africa.
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