Typically, your focus is on the income you get (yield), rather than how quickly the price will rise (capital appreciation).
In other words, this strategy will help you meet a goal to create a source of income from paper/financial assets.
You'll account will still grow in value, but that isn't your primary goal.
The interest payments you get from a savings account is a great example of this strategy.
You could also include real estate in this category, as long as you are talking about rental properties.
"Flipping" a property can be considered a growth investing strategy.
This strategy can also be used to "grow" your account, just like a growth investing strategy.
But you're actually trying to "make money" every month, so the goal is different. Income investments tend to be less volatile than growth investments.
This means that you must make a trade-off: the more predictable the return, the smaller in size it will be.
High yield investments (i.e. greater returns) are possible, but involve a combination of investment instruments and more advanced techniques.
Safe Investing Tip:
If you want to reinvest the money you make every month from dividends, use an account with DRIP's (Dividend ReInvestment Plan) and you won't be charged commissions!