Earning a living can be hard. Many people resort to having double jobs or even triple (if health allows) in order to survive. There are people in need to earn extra money; there are people who want to earn extra money. Extra income can help people to provide more to their families or to have a few luxuries on the side. This can also be a problem solver whenever emergencies arise or a stepping stone to independence and buying power. The world will never know what will happen to the economy for the next year, so it is better to have that emergency cushion at all times.
Day jobs or active income is not the only way to earn extra. People can earn money by doing things under passive income. This is a source of income that keeps rolling but does not come from a job. Sounds good, right? This would make early retirements easy or helps retirement since there is cash that keeps rolling. There are many ways to earn passive income. Here are 2017 passive income to look forward and build.
1. Real Estate
This is one of the most common investments a non-businessman can venture in. Having a property that people can rent will give you extra income each month or whatever timeframe is in the agreement. This can be a stable passive income if the people renting the area will stay for a long time. Properties to be rented do not necessarily need to be big. Extra rooms in the house can be transformed into a bedroom to accommodate bed spacers, travelers, and tenants. Although letting a stranger rent a room to stay can be risky, but there are benefits that will be reaped. Always remember to evaluate every person who rents to assure safety in the area.
2. Commissions
This is a bonus to people working in sales. Every time they get to sell a product or service to a customer, they will get a certain percentage of the payment for the whole duration of the purchase, which also includes past transactions. This means that as long as the duration of past transactions is not yet finished, then commissions will still be received in the form of residual income that can last for years after original purchase.
3. Rewards
Credit cards and membership cards can be beneficial because of the perks that come with it. In choosing credit cards, one must choose a card with a rewards program that will be frequently used to make the most out of it. An example of this is rebates. This is sales promotion that is used as incentives. On the other hand, membership cards will make you earn points based on the amount of purchase. These points then can be used to pay for items, making this an emergency cushion for cravings and other necessities whenever there is no extra cash.
4. Car advertising
Websites are not the only place to advertise. There are companies that offer to pay people who have cars to make mobile billboards. These companies will provide an auto wrap, or removable, full-body vinyl, to the owner’s car, making it a mobile billboard. The owner will drive as normally as possible to provide coverage to the brand for the whole duration of the campaign. The payment? Companies will pay a few hundred dollars per month for this. A nice catch!
5. Creative work
Selling creative work can produce a large sum of money if became a big hit. Once creative work is used or bought by someone else, royalties will come in. Creative works include albums or songs, videos, and books. But these are not the only things that can sell. Through the Internet, people can now post information and create their own blogs. Bloggers can promote products of businesses in their blogs and get commissions on every purchase. Also, blogs can have membership fees so that people can have exclusive content and membership perks. The Internet is the world where ordinary people can earn fame by doing regular updates to establish a personal brand. Use your developed personal brand to increase credibility and relevance.
There are many ways on how to earn extra income in order to have a few added luxuries or to use as an emergency cushion. Business brokers Victoria can have an edge in selling real estate properties to people who want to enter the renting business. Also, business brokers Victoria can use this to attract more people in the workforce.
