Passive Income In South Africa - Passive Income Ideas for Dummies
But if promoted correctly (via blogging affiliates in your niche, for example), you could have residual sales that last a very long time.Generally, e-books can sell very well since they're priced low. If your customer can afford to have a functioning laptop, tablet, or smartphone on which to browse the e-book, they can manage to purchase a cheap e-book without much financial difficulty.
But, online courses even typically cost upwards of $100, while e-books tend to be under $10. Create an online course.If you have specialized knowledge in a certain topic, you can assemble an online class to educate others. By way of example, if you have experience in real estate investing, you can produce an online course Real Estate Investing 101.
Fundamentally, when they click through to the website using your unique link, you will receive a commission on their purchase. This is the way many bloggers have grown their income month to month.To learn more, Making Sense of Affiliate Marketing by Michelle Schroeder-Gardner of Making Sense of Cents is a highly recommended course.If you need to start a blog, here's my simple ten-minute guide to starting a blog.Take advantage of credit card sign-up bonuses.Most credit card companies offer you sign-up bonuses to entice you to open a credit account together.
A number of the very best travel credit cards provide 100,000 points to new accounts when you meet reasonable spending requirements.Also known as travel hacking, these rewards can be redeemed as cash (statement credit) or airline miles (free of airfare).For individuals who travel frequently, The FlyerTalk forums are a great resource.Take advantage of bank account promotions.If you don't want to mess with your credit score and pursue credit card bonuses, you can apply the very same notions towards bank promotions and bonus offers without the credit score hit.
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The income will typically be reported on a Form 1099-INT so it'll be taxed like interest income, which is passive income.Advertise on your blog.If you run a blog you can look here and receive decent traffic, so you can incorporate ads to your website. These can normally be on the sidebar, and perhaps at the bottom of your posts.
If you've got a lot of traffic, then this can add up to a decent chunk of change.If you need to start a blog, here is my easy ten-minute guide to starting a blog.Rent out additional space in your house.If you get a spare bedroom, you can find a roommate or set the space on AirBnB for travellers.
If your furniture is more modern but you cant bear to eliminate it perhaps a home stager will be interested.Become a try these out peer to peer peer lender.Websites like LendingClub streamline the lending process between peers/friends. Returns are promoted as 5-7%+ and reach your account as monthly payments. There is some risk of default, however, the threat can be minimized with sufficient diversification.Become a personal lender.As a private lender, you also can lend to anyone in your social circle.
The Ultimate Guide To Passive Income In South Africa - Passive Income Ideas
You can partner with a rehabber who uses your capital for a short-term in exchange for an interest rate that is mutually agreed upon.Design products to sell on CafePress or Redbubble.If you're creative and can tap into the latest trends to figure out what sorts of images would sell, you can post your design on CafePress Shop or Redbubble, where customers can purchase many different kinds of merchandise printed with your design.
If one is taken, the only recourse is to approach the owner to go over a sale. When there are other variations you could choose, sometimes owning a certain domain (especially if it is attached to your business) can be worth the premium. Often, people will scout out domain names which are still available, purchase them, and then sit on them in order to sell them down the road.
The Ultimate Guide To Passive Income In South Africa
You can even combine this with different marketing campaigns if you are an influencer and have your own blog (advertisement + affiliate income). This is the way many bloggers make money! Again, it's not 100% passive but once setup properly and then climbed, can be surprisingly lucrative.Buy a laundromat/car wash.Laundromats and car washes are infamous for being cash flow machines, but until you buy one make sure you complete your due diligence.