I am currently starting to slowly think over the year 2009, and starting to make plans for 2010; I know many people would do the same. In the previous Growth Update, I already wrote a couple of lines about how my career is far from making progress. In fact, I am a bit scared to be so dependent on a career, and my employer, that I want to make a start on earning additional revenues in 2010.

I have seen the topic of generating additional, or passive, revenues appear on many personal finance blogs. However, I have to admit that these blogs do not really apply to myself, since these bloggers have already reached a specific level of financial stability. I want to write this article today, to do a bit of brainstorming, and see how I could improve my financial health throughout 2010 via additional income strategies.

Taxes – This may seem a bit dumb perhaps, but I am horrible at chasing my taxes… I still have not completed my tax forms for 2008, and I know I would be getting some money back. This is my top priority for January 2010.

Investments – I have traded options every now and then, but I have done this purely based on emotion, and based on what others had recommended me. In 2009, however, I have spent a lot of time digging through the fundamentals of fundamental and technical analysis, which should allow me to start investing some real money in 2010, working towards achieving my long-term goals. I know, currently the amounts will still be fairly small, but I will have to start somewhere.

Blogging - Back in 1998 I once created a website, Dutchtrav, and in 2004 I created another one, Languagetrav. Although I have spent a minimum amount of work in it, I still earn around 100 USD every two months with those sites. I believe, that with a bit more of hard work, I can make these blogs, as well as additional blogs, a real success. Certainly, Moneywise24 Personal Finance Blog is a start, and I will surely explore new ideas as to how I can build a stronger internet presence and share my knowledge and experience with others.

Actually, the internet offers so many possibilities to earn additional revenues… personally I am only familiar with PPC and affiliate programs. This is one area I might want to digg deeper, and explore further.

Real Estate - I believe real estate is an excellent way to invest money long-term, and have it generate a passive income through incoming rental payments. Although I do not feel ready to buy real estate in my current financial situation (I would not be able to absorb unforeseen events financially), I want to explore the possibilities to buy and rent out real estate, as well as how this would impact my taxes.

My cash account – My cash account currently is good worth only 2 months of living expenses. I want to at least double the amount.

Possibly Related Posts:

• Personal Update: My Personal Commitments for 2010
• Personal Update: 2009 Review
• Becoming a Millionaire, and “The Million Dollar Club”
• MW24 Update: the Blog Redesigned
• Personal Update: The Importance of Regular Fine-Tuning