
Harness Your Passive Income
I am sure you’re thinking about harnessing your passive income, however, the ideas you get on the internet sounds cliche and you might shrug your shoulder before going to read another article. However, here I will still try to explain to you how you could get more juice from these old lemons.
Vlog
I know you must be thinking by now is Jebes! Give me a break…. well wait here is what I would propose you for starting a VLOG. Here is the deal: Setup a Youtube channel with the best content you could offer to your audience but before start marketing it. Setup a basic WordPress website and connect your Youtube channel to the site. Now connect both i.e. YouTube.com channel and WordPress site with different affiliate marketing campaigns including Google Adsense. Now you have more than one source income for the same Vlog… See the light?
Stocks
Got $100 aside? Find yourself a broker who allows you to do day trading with teaching you about stop and how stop loss works in the market. Let me give you an example. Let’s say you buy a stock which costs you $10, the broker hit a button on computer which is called stop and from there term has come. So you tell your broker you are only willing to lose just 10cents. He will put the stop loss on your trade, so If the market crashes your stock will be automatically sold at $9.90 and you will loose 10Cents…. Sounds safe?
Internet Startup
Think of a problem, which you might solve using technology. Familiarize yourself with little web development coding and get your internet based start-up going. Use the Minimum Viable Product strategy and ensure that there is a market out there for your solution to the problem. Again, take Adsense for little revenue and offer subscriptions with different packages so you could attract different buyer groups. Plan your packages according to the services you would like to offer….. have any idea?
Teach
Again sounds very boring but do yourself a favor and do a SWOT analysis of yourself. Think what you have learned from life so far? If a glass is full you can’t fill it further so may be that is the point when you pour some of it out and allow yourself to acquaint new things for yourself. Ever heard of Udemy.com? or places like that? Google the term learn online and you will find thousands of sites where you could create your own courses and sell them…..sounds exciting?
Buy Foreclosure real estate
I hope you have good fico score or have good terms with your banker. Keep an eye on real estate listings and find your self a foreclosure real estate deal. Buy it, get it fixed and rent it out. I am sure it will add another source of passive income in your portfolio, along with having a real asset….. Yay…..
This is my first-hand recipe for extra cash flow, however, please, get some knowledge of each of these options before you jump into it blindly.
