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Passive income ideas for you

Feb. 29, 2024
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Treat every cent you own like a personal employee. Your money needs to work for you.

Passive income is making money while your sleep.

If you do not find a way to make money while you sleep, you will work untill you die. - Warren Buffet

Here are some ideas for you:

- My personal passive income streams

  • Dividends

Dividends is literally making money while you sleep.

How to earn dividends?

By investing in companies that are profitable and paying dividends.

It is basically the company thanking you for investing in them.

Dividends can be claimed in cash or more shares in the company.

I prefer the option of more shares in the company, because I invest in companies for the long term.

 

  • Property

This is one I had, but no longer have.

I sold my property that I used to rent out.

I sold the property because I believe I can invest the money better elsewhere.

Therefore, I will be sharing with you where I will be investing, in what, what timelines and when, ALL ON THE FINMEUP APP.

(Starting next week)

Even though I sold my property, property remains a great way to earn passive income and capital growth.

It is an expensive option, but has created many riches for many people.

 

  • Royalties

Most of you probably dont know, but Im a sideline musician. Artist name is just Higgo if you search for it.

Ive released 3 albums to date and releasing another one later this year.

In my case, I earn royalties from streaming services (Apple music, Spotify, Youtube etc) and from radio stations.

Royalties can be from music, podcasts, photos, videos etc.

If you are artistic, why not give it a shot?

Make it once, earn for a lifetime.

 

  • Crypto Staking

Yes, I own crypto.

Yes, I stake my crypto.

Crypto staking is the process of locking up crypto holdings in order to obtain rewards or earn interest.

All cryptos have different staking rewards.

This is an article for another day, but if you are invested in crypto, why not stake it?

Its free interest.

Ill reveal my crypto holdings in the near future.

 

  • Sponsorships

Anyone can build a following.

But, it takes time, effort, learning, consistancy, adapting & sometimes money.

Influencer marketing is an ever increasing form of advertising for companies.

Influencers get paid a lot for promoting products and even appearing on ads.

I know some influencers that make more money that you would guess. Crazy world.

But there is also a cost in all of that, as with all hustles.

Im not even close to an influencer, but I have managed to get a few sponsorships for music production and other collaborations in the past.

Its free money, all you need is an audience.

Building one takes time.

 

  • Bank Interest

Yes, banks pay us interest on our money. 
But it is so small that it is actually irrelevant in my opinion, that is why Im not a big fan of cash in the bank and prefer investing it.

Cash Flow is king, but inflation is also a cash burner.

 

- Other passive income ideas for you

  • Sell your knowledge/skills

Do you have expert level knowledge in any industry?

Why not sell some of it?

How?

Ebooks, courses, videos, collaborations or maybe even apply to become a mentor on FinMeUp.

 

  • Affiliate Marketing

If you are good at networking & marketing, you should definitely consider this.

 

  • Advertise on your car 

This is not common, its quite alternative, but ey, with petrol prices sky high, why not make your car work for you?

 

  • YouTube channel

It is not easy building a large audience on YouTube, but with consistant effort, who knows? 
All you need is one lucky breakthrough to make you viral. That breakthrough can take years, so do not give up after a few failures.

If you believe you are an entertaining person, or educational person that can build a following, why not give it a shot?

 

Always ask yourself, what do you have to lose if you try?

 

The list of ideas go on, but that is enough for one day.

 

Find your passion and chase it.

Find what you are good at, monetise it.

The biggest step is getting started.

You can do this!

The secret of getting ahead, is getting started.- Benjamin Franklin

 

 


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