Archiving financial freedom is one of the great quests by most people across the world, South Africa is no different. Financial freedom is key not only for survival but to make it through in life. The cost of a good lifestyle is on the increase every year. It is imperative to find routes and way to break out of debt. It is also a desire of many people to have money by the end of the month. There are number of ways you can increase your income. Different methods that are not based on a 9 to 5clock in and out type jobs. There are a lot of passive income deals you can look into. The article names a few, and hope that there is something you will find interesting and go for it.
Passive income is a concept based on investing time and sometimes money into an idea with the prospects of it generating income in a short space of time. The idea does not have to be anchored in a conventional shop. It’s about selling your skill, time and through that generates finance.
Passive income ideas
The following are ideas that have helped a lot of people find monetarily pay outs outside the 9 to 5 work environment.
A blog is a web based idea. Its purpose is to review, comment, and give advice on any issue. Blogs usually have a specialized and specific theme and selection of topics they focus on. Blogs range from political to hair and make-up. Businesses use blogs for their customers to get services.
The process is like this; you create a blog, write on topics you are connected to. Then sell advertising as an affiliate.
Affiliate program that most South African bloggers choose are Affiliate Network and AdMarula.
Once you have written a blog you can send them a brief on your content and the target market your writing is focused on. Blogging requires that you nurture your site from the beginning. You need to have relevant and niche based content for your chances of success to be higher. You will need to think about new and present your topics in an interesting manner and captivate your audience. You stand a better chance of progress in this field when you have high traffic every week. Advertisers like sites with a high volume of clicks. It may take time till you find a company willing to advertise on your blog, but remember it’s always worth a try.
Invest in properties
Investment in property has been a growing trend in South Africa. It requires that you have your own house first, and then you can rent it out. Alternatively you can buy a holiday property and derive income through time share. Meaning you will sell the amount of time a family can use the property in a year.
Another form is to buy property and wait for it to mature. Buy today and sell in the future when prices have gone up.
Since Google bought Youtube, it has become the webs main video content provider. Anyone can start a channel on Youtube. The idea is to get as many subscribers as possible. There are some people who solely live on cash generated by monetizing their content on Youtube. Some even has more than 20 million subscribers. Youtube will pay you according to your subscriber base through advertising on your channel.
Peer to Peer Lending
Lending money to individuals who can’t get financing from banks is the basic idea of Peer to Peer lending. This type of lending has gained popularity in the nation. You borrow someone money or a group of people with interest on pay back. The investment can come back with an 8% increase from the original loan through interest. You can do peer to peer lending with affiliates and people you work with.
Businesses such as Avon, Forever Living, Amway and so on, invests in ordinary people. How it works is that these companies offer their products at factory price. Then you will buy these products and sell them with an agreed mark up. You keep the profit and reinvest it back into buying more products. This will need dedication at the start and build up a relationship with your customers so that they can be repeat customers. This does offer financial freedom to some.