Waching daily Jun 8 2017

English Winners. If you're moving to an English-speaking country,

you're probably wondering: 'how am I going to get some money to pay for all my

necessities of life?' You know, my food, shelter, water... stuff like that. And

there's many ways to make money, and most of them are probably familiar to you

- working in any other country - but I'm going to go over some terms, just so you

get used to the... vocabulary, okay? So in this video, I'm going to tell you about

the ways people get paid. So the first one is 'Tips'. Tips are very common in

service industries, like being a waiter at a restaurant, or maybe a taxi driver;

of course, it's called a 'fare' then, and it's a little bit more formalized.

Also, delivery drivers rely very heavily on tips. A lot of their money comes from

tips, and... a tip is a voluntary amount of money that a customer chooses

to give the person serving. So, you go to a restaurant, and the waiter brings you

your food. If they do a good job - you know, they bring the right food, they're fast,

they pay attention to your needs - you might give them a big tip. If they're

slow or they don't care... or they don't treat you with respect, maybe you give

them a bad tip... or none at all. That's a lower amount of money. And so, someone who

works for tips does better when they serve a lot of people and they serve

those people very well. And people who rely on tips and make very little money

either don't serve enough people, or the people they serve... they are serving them

very poorly, and the quality is not good. Let's go to the next one. So, the next one

is called 'day labor'. You will see day-laborer most

commonly in places like construction but I've also done some day labor in an

office environment; there's different employment agencies in cities that will

do it. The idea is: you do some work, and then, at

the end of the day, you get paid. It's just one day's work -

one day's pay. Now, this pay may be lower than what you might get at a regular job

that you show up to every day, and it's not as consistent; you don't have five or six

days a week of day labor. It's usually two days here... maybe one day you can't

find anything... three days you're working someplace else. But, day labor is a good

way to bring some money in when you are between jobs. Next one. 'Hourly'. Now hourly

wages are the most common. You get paid an hourly rate - say, $10 an hour, or

$15 an hour - and then that is multiplied by how many hours you're working that

week. And that is your paycheck. And most people who work jobs get paid on an hourly pay

scale. For instance: $15 an hour over two 40-hour work weeks equals about $1,200,

minus taxes, and so it kind of works like that. Next, 'salary'. Now most people in

middle management for higher positions of leadership or even just some regular jobs

it's a salary position. And that means you will get paid the same amount of

money whether you work a lot of hours or fewer

hours. And so someone might work 60 hours one week... they'll get $4,000. They might

work 35 hours the next week... $4,000. A lot of contract work for Road

cleaning and stuff like that works the same way; if there's no snow, they get

paid the same amount as if it snows every day, so that's a salary position.

Let's go to the next one. so the other one is 'Commission'. And... commission is

usually found in sales jobs. So, if you sell something, you get paid but here's the rub:

if you don't sell anything, you don't get paid. So, you can do a LOT of work and still

not make any money. But, if you're very good at selling, or maybe just happen

to find a product people really like, then you can earn more money than what

you'd get in a salary position, or a day laborer, or hourly. So, sales can be a very

good avenue toward becoming wealthy, especially when you're really good at it.

And I recommend everybody at least try it,

and educate themselves to know the basics of selling. Not just to know when

you are being sold to, but to also be better when you persuade other people and

influence them to make decisions. So, the sweet spot, of course, if you're an employee, is Commission

plus salary. That means: if you're having a bad week, you're not going to be hungry,

right? You're still going to get some money, but you're not going to be rich.

You still have to put forward the effort. You still need to generate results.

So, salary plus Commission gives you a little safety, but at the same time

there's that upside where you can get paid a lot and you do really well. In my

opinion, that's the best if you're an employee, and then also, if you're a

business owner, technically it's commission sales. If

nobody buys anything, you don't get paid. So, if you're going into business, get used

to that level of commitment, ok? Let's go to the next form of getting paid.

So, 'bonuses'. Everybody loves bonuses Even in game shows they use the phrase 'bonus

round.' Because it's a good thing, so bonus means

extra money; it can be at the end of a quarter - you know, every 3 months - or at

the end of every year. Now sometimes, these bonuses are given

depending on how well a company does, or how well you - as an individual worker - do.

So, high performance usually means a higher bonus, and lower performance

usually means little to no bonus at all. Now, most places I've worked at don't

offer bonuses, but it's nice to know that some places do and if you can find

that, more power to you. Bonuses are great. 'Capital gains.' Capital gains sounds fancy,

but all it means is: you buy something, and then later you sell it at a higher

price, and that extra money is capital gains. This happens in stock investing... it

can happen in real estate... it can happen on anything that you buy and then sell

at a higher rate. The good thing about capital gains is - in places like America -

usually you get taxed lower. So you pay less taxes and that can be a very good

thing. So, if you can move from being an employee to earning things with capital

gains, that is a step in the right direction if you want to do really well

with your money. But, it takes some education, so you have to educate

yourself. Let's go to the next one. So, 'residual income'; this is common in network

marketing companies. I know Herbalife is very big in some parts of

the world, and Amway is another big one... but there's lots of network marketing

systems, and residual income is just a fancy way of saying commission, but this

commission- the money you get when you sell something - is paid to you every time

somebody continues to order. Sometimes people are on a program where

they'll order something every month, and every time they do, you get paid. It's a

great way to separate the time you put into work from the amount of money you

earn. This creates a situation where you can work a smaller number of hours and

earn a higher amount of money. But this takes inter-personal skills; it takes

knowing how to sell, and it does take a lot of hard work... especially in the

beginning; possibly more hard work in the beginning than a regular salaried

employee might do. So, keep that in mind. But residual income can be very good if

you can get it. So, 'dividends'... Dividends are like a bonus; it's money

paid to you based on performance - usually the performance of a company that you

put money into - that you are investing in. And dividends in publicly traded companies -

in the stock market - usually kick out every three months. So, every business

quarter. Those are good, and can only help you, so dividends are great. If you can

get those, do it. And lastly, this one's more for creatives and inventors - people who

make things - that a lot of people can buy. They're called 'Royalties.' Now, if you

write a book, you can get royalties. If you invent something, you can get royalties.

Maybe you write a song, or make a video that millions of people watch... those earn

royalties. So, you make something and then - if you have the right to earn money from

that (called a copyright) - then, whenever people buy it and you own the right, then

money comes to you. The more people buy, the more entire your royalty check is. That's a

very good way to separate time from money as well. But most inventions do not

sell well. Most songs are not hits, and most books are not best sellers, so you

have to keep that in mind going in. There is a little bit of luck to it, but at the

same time there's a lot of skill, and if you play the numbers, (Play the numbers means:

do the same activity, maybe in slightly different ways,

many many many times) it increases your opportunity to earn royalties. So, that's

the last one. If you liked this video on the ways you can earn money, please

SUBSCRIBE down below. You'll get more videos. I have a listening playlist over

here and a pronunciation one over here, where I am putting out a video on

syllable stresses, and I think you'll like that, so check them out. Until then,

keep on winning English Winners and I'll see you later with another video. Bye now.