Yes, unfortunately Sydney is in lockdown again. It sucks for sure, but not on all aspects. Staying at home means there’s more time and space to work on other projects, and passive income can be a great way to generate extra cash flow during the lockdown. If you have never come across this concept before, this lockdown might be the perfect opportunity to try out something new, easy and money-making. With passive income, you will be able to access more cash, more money to spend, provide, or just for another layer of security. If you are saving up for anniversaries, building wealth, or trying to meet your retirement goals earlier, passive income will be very much helpful.
Now the question is, how do you earn passive income when you stay at home during this lockdown?
Passive Income Ideas:
Create YouTube Channels
1. AFFILIATE MARKETING
Pros: If you have a website, blog or a great following on your social media sites, affiliate marketing is a good way to earn you money for referring products & services from other brands in your sites. The affiliate site will provide you a specific link that you can place in your sites, and you can earn a percentage of commissions every time a purchase is made via the link.
Cons: Affiliate marketing has recently become a very popular idea.There comes its downside: the competitiveness. It also means that you will need to dedicate lots of time and effort to maintain a blog/site with great traffic and site domains can be expensive.
2. CREATE YOUTUBE CHANNELS
Pros: If you have a specific field of expertise or interests, you can always start your YouTube channel at any time. There’s no limit to what you can post on your channels, whether it is about travelling, Star Wars, League of Legends or cooking lessons, as long as it interests you, go for it! You can earn income from sponsored advertisements.
Cons: YouTube is again another highly competitive space. You might want to pursue a very niche market to easily stand out. You might also need to dedicate lots of effort and time into the content generation process where there’s no 100% guarantee on the outcome.
Pros: Investing is not a new concept. There’s always the choice for you to invest in stocks, bonds, cryptocurrencies, NFTs...and many more. It is probably one of the most common thread to passive income, and the return is one of the highest.
Cons: The greater return comes with greater risks. Where there is room for plenty of earnings, there’s also possibilities for many losses. Make sure you understand the market you invest in and always know your risks before you invest.
* We do not provide any investment advice.
Pros: If you have a passion for writing, you can consider self-publish an E-book on Amazon. There’s no limit to what you want to write about, it can be about education, fiction, cooking or fairy tales for the kids! It’s a great source of passive income if your e-book is loved.
Cons: Same scenario to the YouTube channels, writing an E-book requires lots of time and efforts. If your end goal is just for the money, E-books does not promise any returns.
Pros: If the above sounds too complicated or time consuming for you. There’s an easy option for you to earn some passive income. Simply create an experience on the FreeGuides App about your most memorable travelling experience, the best restaurants you have ever visited in New Zealand, the must-visit sightseeing spots in Australia or your most loved beaches in Western Australia.
Check here to learn how to make a guide ➡ Link
Step 1: Select an experience you want to share with others.
Step 2: Map out the experience on the FreeGuides App.
Step 3: Input some media files (images, audios or videos) and texts to introduce the experience to other
Step 4: Wait for explorers to go on your guide and remunerate you!
There’s no limit to how much you can earn with FreeGuides! If you are a micro/macro influencer, you can always promote it on your own sites to invite people to go on your experiences to expand your following & earning potential.
FreeGuides now offers a $10 cash reward when you create your first approved experience on the App. If you have some spare time today, go make an experience today and earn your first stream of income! It’s as simple & easy as it seems. 😊
To earn extra income: see how to make a super experience ➡ Click here