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Nairaland Forum / Nairaland / General / Investment / 7 Tricks Of Making Passive Income You Cant Afford To Miss In 2019 (796 Views)
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7 Tricks Of Making Passive Income You Cant Afford To Miss In 2019 by Hamzashaf99(f): 9:24pm On Jul 16, 2019 |
A lot of things can push you to look for extra ways to make money from home, part or full time, online or offline, from home or outside. As a student first, then a stay at home mum and now a government employee. I can relate with ALL, well, almost all of the reasons. The first, make extra money to help with the peanuts my parents could get to support my education Then a way to help my younger ones through school, Followed by wanting to have time to be a good mom, and after getting a job, whoops. You never know what salary earners are going through until you go through it. Salary is really never enough, and you have no control over your life. To go to the hospital, you have to BEG for time off. So what does this have to do with making passive income in Nigeria? Passive income is money that comes in with little effort, or no effort Each day, our responsibilities increase, expenses increase, money and time become less. So you either look for a way to get more and make things better or bury your head in the sand like an ostrich and assume everything will be alright. With little time, most of us turn to look for lucrative part time hustles, especially online, and then try and fail. I know because I’ve done that for years. So from experience, now what should you look for in any part time hustle especially if you’re new • Not expensive to start (free options don’t work, or take sooo long) or if you have enough capital, its better to start big. • Must work in Nigeria, especially for a stay at home mum (this excludes surveys, transcription, virtual assistant etc) • Time. You do not want to spend 7 hours every day on a part-time hustle. Or wait a year before it starts paying. • Market; it must make profit, or income or whatever=large market or profit margin. What can you do? The best, easiest passive income sources for anyone in Nigeria that are still working in 2019 • Transport business: cars, bikes, bikes barrows. Depends mostly on your capacity and locality • Rental property: shops, apartments, land, event centres. Neat profit usually yearly. • Stocks and bonds • Long term savings account, but it has a low return rate compared to the others. • Or take it online. The advantages are the high profit margin, more choices in passive income field, and greater ease of doing business. A global market is definitely not a bad thing too. • The downside: It takes a lot of time, skills, and capital usually. • Blogging • Information products in the form of eBooks, courses • Network marketing (definitely the fastest paying here) • Affiliate marketing • eCommerce • Royalties from books, movies or songs you publish. So what has worked for you so far this year? Help us with your ideas. Want to work with someone like you to better your life? I have always loved working with others. Im always on Whatsapp, let’s connect today! |
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