10 ways to earn extra money

Generating multiple streams of income can have a major impact on your finances. Even an extra income of $500 each month could go a long way to paying down debt or increasing your investments.

We often hear about the importance of diversifying our investments, but diversifying our income streams is just as important, particularly in difficult economic times. Let me show you just how valuable even an extra $500 per month can be. Then I'll list the factors to consider in deciding how to generate extra income, followed by 10 multiple-income-stream ideas.