What are external incomes?

External incomes are money you get from outside your main job or business.

Imagine you have a lemonade stand, that's your main job. But sometimes, a neighbor asks you to help them sell cookies at their stand too. You get some extra money for doing that. That extra money is like an external income.

Sometimes, when you do a really good job, friends or family give you tips, maybe even some candy or toys! Those are also types of external incomes, because they come from people who aren't your main customers.

You can also get external income if you have another job on the side, like babysitting or walking dogs. Or maybe you earn money by selling things online that you don’t usually sell at your lemonade stand.

So, external incomes are just extra money you get from doing something else, it's like having a few more pockets in your pants to hold all the fun stuff life gives you!