1) Rental income
This is very important to eventually get your foot into. Once rental income comes in from properties, you'll have the opportunity to expand your property portfolio with some hard work. There are way to do this if you are not wealthy i.e. rent out a room via Airbnb. Mohnish Pabrai's book 'The Dhandho Investor' is a prime example of the Patel's who started as immigrants dominate the hotel and motel industry in the USA today.
2) Selling an E-book
Once an e-book is put up, you will receive royalties for life. I recommend writing to a market which is large and a topic which is a niche. This should maximise revenue. Amazon is a site I recommend uploading to as everything is free and very easy to use. There are stories of people making $10-000-$40,000 per month.
3) Writing a blog
Writing a blog with niche information is a USP. Installing Google Adsense can help find you an additional stream of income. If you find writing fun to do, it's an excellent choice. Note: in a free blog, you can usually install AdSense after 6 months. Own blogs with websites can implement AdSense immediately.
4) Selling notes
If you have finished any form of studies, look at the notes marketplace. This is essentially monetising information you don't need any more. Instead of throwing notes in the bin, exchange it into money. If you market it right, you could easily make $150 a month.
5) Budget
The most famous equation in finance is Equity = Assets - Liabilites. Don't leave me yet! Equity is your worth, assets is what brings you money and liabilities is what loses you money. Minimise your liabilities! Is the c.$4 on Starbucks worth it if daily it is shredding your net worth? 300 coffees yearly is ($4 x 300 =) $1200 a year! Habits are hard to break and if you have some hard ones, try write a column of your expenses in Excel and highlight in red the bad ones to mitigate them.
This is very important to eventually get your foot into. Once rental income comes in from properties, you'll have the opportunity to expand your property portfolio with some hard work. There are way to do this if you are not wealthy i.e. rent out a room via Airbnb. Mohnish Pabrai's book 'The Dhandho Investor' is a prime example of the Patel's who started as immigrants dominate the hotel and motel industry in the USA today.
Once an e-book is put up, you will receive royalties for life. I recommend writing to a market which is large and a topic which is a niche. This should maximise revenue. Amazon is a site I recommend uploading to as everything is free and very easy to use. There are stories of people making $10-000-$40,000 per month.
3) Writing a blog
Writing a blog with niche information is a USP. Installing Google Adsense can help find you an additional stream of income. If you find writing fun to do, it's an excellent choice. Note: in a free blog, you can usually install AdSense after 6 months. Own blogs with websites can implement AdSense immediately.
4) Selling notes
If you have finished any form of studies, look at the notes marketplace. This is essentially monetising information you don't need any more. Instead of throwing notes in the bin, exchange it into money. If you market it right, you could easily make $150 a month.
The most famous equation in finance is Equity = Assets - Liabilites. Don't leave me yet! Equity is your worth, assets is what brings you money and liabilities is what loses you money. Minimise your liabilities! Is the c.$4 on Starbucks worth it if daily it is shredding your net worth? 300 coffees yearly is ($4 x 300 =) $1200 a year! Habits are hard to break and if you have some hard ones, try write a column of your expenses in Excel and highlight in red the bad ones to mitigate them.
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