Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
Don't underestimate the power of passive income. The greater the passive income you can build, the freer you will become.
Financial freedom means having more than enough passive income to cover all your needs. You can decide if you still want to work, but only if you want to.
There are other ways to create more passive income besides real estate rentals, crypto, stocks, mutual funds, and UITF that most people think of.
It must be remembered that we are not all the same. It's not because I invested in this financial instrument that it suits you. There are also a few things to consider, like a person’s risk profile.
So how can you create the passive income you need? Consider these opportunities for generating more passive income.
Collect fees for providing space for people's vehicles and other possessions. If you have a vacant lot or establishment, you can rent it.
Create something once and get paid forever. If you are good at writing, write a book. If you are creative and good at the field of engineer, think and create technology that can help the world. If you are good at singing, write and sing.
Join a company with a great product sold through network marketing. Build a downline team and collect commissions on their sales. Just a little reminder, only join legit companies. One of the criteria, if a networking company is legit, is whether it has a product to sell and what else is its other source of income not just in recruitment.
Sell or promote other's products or services with automated systems and earn commissions. If you love to write, make videos and share experience or knowledge, you can launch through a blog or vlog where you can promote a product or service.
If you have a capital budget for this type of business or sideline, this is great. You don't need an employee for this and minimal management.
If you have a capital budget for this type of business, this is really great!
If you are a trainer, coach, consultant, teacher, or professor, you can monetize your expertise by sharing or selling it to others through technology. Create digital information products and sell them through automated funnels like emails, landing pages, or social media sites.
If you love making videos, tutorials, or travel that you want to share your experience with, you can also earn money from it. Did you know most Vloggers have already made it a full-time career?
You just need to invest in some equipment, you don't have to spend immediately, even if it's just the entry-level first. And most of all be creative with your future content.
To earn you only need to meet certain requirements for you to monetize your videos. Just like on Youtube, you need to be able to meet at least 1,000 subscribers and 4,000 watch hours to apply for a Google Adsense Account.
If you love or have a passion for writing or want to share information online. You can start a blog if you are shy and don’t want to show up on camera (vlog).
You don't have to spend a lot to start a blog. And you also don't need to be a Computer Programmer or Developer to be able to start a blog.
There are some drag and drop website builders that you can get started with a blog.
How do you make money here? Similar to a Vlog, you also need to meet certain requirements for you to monetize your blog.
You can also earn here through sponsored blog posts or direct advertisements.
Create a Mobile App or Mobile Games
If you know computer programming, you can make a mobile application or games that you can earn money.
How do you make money here? It can be purchased with you or downloadable.
If we are only aware of our surroundings, we will notice many opportunities. Now that you know, maybe some of the ones mentioned above can be started. Some require a big financial investment, and others just require your time, effort, and creativity.
Find and act on the best opportunities for you!
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.