Latest posts by Christopher Jan Benitez (see all)
- 5 Convenient Ways Millenials Can Generate Passive Income - July 2, 2015
- Is the Essay Writing Industry the Death Knell of Education? - May 24, 2015
- How to Create a Memorable Webinar Hosting Experience - March 25, 2015
Doing so means you get exposure to thousands and thousands of other CommentLuv users and your posts get sent out to the massive subscriber list.
Google loves this site and indexes it multiple times per day and posts always get lots of comments so you can be sure of some excellent exposure.
See the Write For Us page for more details
btw.. you can get this author box here
According to a research reported by UBS Investor Watch, 48% of millennials aspire for financial freedom. This means that they don’t have to worry about money problems because they have found a way to manage their finances to pay for their debt.
While it’s one thing to want this for themselves, it’s another to making it happen.
In some cases, it’s not as simple as stretching your budget and pinching pennies so you can save up enough money to pay for everything. You may have to find another source of income on top of your full-time job so you can keep up with your current financial demands. To do this, you need to possess certain skills that you can leverage and profit from once you have the tools and knowledge in place.
Below are five of the most actionable ways that you can build upon and develop over time until you can generate a steady income stream from these sources. By earning income without doing anything, you can pay for your debts faster and much easier!
Sell stock images
If you have lots of high-quality photographs lying around, why not sell them at microstock sites? (Click Here to Retweet Quote!)
This applies to photographers and hobbyists who wish to make more money from their skill. Sites like iStockphoto and Shutterstock accept work to be included in their collection of available photos that registered users can download and use. If people keep downloading your photos from either site, you can expect royalties coming in to your account.
Selling stock images is all about volume. The more high-quality images you upload to these sites under your username, the greater the chances of people seeing your work and downloading them. You may focus on taking it slow when it comes to taking and uploading photos. But because of the small royalty fee that you will be receiving from each successful image downloaded, you are unable to maximize your earnings potential this way.
Therefore, by producing a steady stream of image, you are also developing a steady steam of income that will only grow over time.
To get you started on selling stock photos, here’s a post at SLR Photography Guide.
Blogging
There’s nothing passive about developing and publishing content on a regular basis. However, when done correctly over a period of time, you can generate lots of traffic to your blog, which is instrumental in turning your humble blog into a money-making machine.
This can be done by observing the best SEO practices so you can get your blog to rank at the first page of search results for specific keywords. You can then build an email list so you can convert your readers into subscribers and feed them with exclusive content that will encourage them to purchase your products and services. Not to mention, there’s also affiliate marketing where you can sell products from Amazon or other third-party sites and receive commission from every successful sale.
There’s a lot of information about turning your blog into a passive income generation machine, but one of the best resources out there is the Beginner’s Guide to Successful Blogging by First Site Guide. It details the entire process starting with choosing a niche for your blog down to different monetizing tactics to sustain a profitable blog.
Create an app
If you have a great idea for a mobile app, then you can create one and upload it to Google Play and iTunes Store for sale. You can also make the
Just to give you an idea on how profitable app development can be, Benny Hsu has earned $30,000 in 30 days for an app he created. Granted, he hired developers to build the app for him. But you can’t deny the results of his app idea turned into reality.
If you want to get hands on with the entire process, you can start by referring to these app development tools and tutorials so you can reap all the benefits of your idea and hard work.
Once you have uploaded the app on either stores and performed app development optimization on pages where the app can be downloaded, you can expect people to try out your app and purchase it!
Network marketing
Network marketing or MLM may have received a bad rap, but there are some legit ones that you can try your hands into for passive income. (Click Here to Retweet This Quote!)
Don’t let this term or “multi-level marketing” scare you. While this type of marketing has received a bad rap due to misconceptions, it shouldn’t dissuade you from at least trying to understand how it works and whether or not you should try earning from it.
In principle, people into network marketing make maximum profit by recruiting people to be placed in their downlines. They will receive money from the people they take into the program. Once people in their downlines start recruiting other people, the first recruiters will also get money. So the more people they recruit and those people recruit others as well, the more they will profit.
While this may sound too good to be true, it really depends on the type of program you enter in – there’s a fine line that separate the legitimate MLM businesses to the scams.
Once you do decide on joining an MLM program, please don’t be that annoying Facebook person who keeps showing off his earnings and posting ridiculous stuff about how great networking marketing is. If anything, approach it like how Nick Pratt did in this excellent post. He lists down ways on how to generate leads for your downline without pissing off people.
Hold garage sale
As the saying goes, “someone’s trash is another man’s treasure.” If you have lots of stuff lying around your home that you don’t use anymore, then convert these into cash by holding a garage sale.
To run a successful yard or garage sale, it’s all dependent on how you market and present it to the public. You need to promote the sale weeks before the actual date so people are informed ahead of time and can make time for it. Place ads at your community bulletin boards or even online to increase your reach. Feature some of your premium items on sale to encourage more people to visit and purchase the items from you. Do not overprice the items – be reasonable when selling your secondhand items. Cross-reference the prices from popular online sites and base your prices from there.
For tips on how to conduct the garage sale on the day of the event, read this post at Money Saving Mom.
Final thoughts: The suggestions above cover both short-term (garage sale) and long-term (blogging, selling stock images) passive income stream to help shore your financial problems. When done correctly, you can turn the dream of financial freedom into reality.
