Don’t you just feel that responsibilities and tasks on your shoulders becomes heavier, which eventually turns into burdens? This unfortunate situation often results in exhaustion. You find yourself on the brink of giving up, especially when working 24/7 to earn money and make ends meet.
This instance also drains the motivation inside you to wake up early and work in the office. Most of the time, whenever it is payday, your salary seems to pass on to your bank accounts and wallets because you use them to pay your bills. If you tolerate it to persist, you will suffer from physical, emotional, and of course, financial constraints. But say no more! Below we will be presenting ways to build 5 income sources to help you build a financially stable future and achieve your dream life.
Do not worry because this isn’t some kind of multi-level marketing company or a pyramiding scheme that you have no choice but to recruit other people to join the company or sell their products, which are inclined to health and beauty.
1. Stock market selling
Almost all companies and corporations sell stocks and shares to others to support their funding for their business. In turn, this gives the buyer to have partial ownership. Market stocks constantly inflate and dwindle, depending on the current situation.
This source of income is seasonal and takes time before you can earn through it. You can buy stocks specifically from Facebook and sell them at a much higher price of $50-60. Basically, what you do here is to invest in stocks and sell them whenever you think the profit you will get is enough.
However, one of the drawbacks is the risks of losing your hard-earned money if you invest in the wrong stocks, people, and company. Thus, before doing so, you must first research properly if you will benefit from investing in stocks in the upcoming years.
2. Youtube ad revenue
In this technologically dependent society, most of our tasks, especially media and entertainment, are relayed digitally. You can also consider jumpstarting your own Youtube channel.
Many people are interested in this media platform, many brands and companies invest their money in creating ads to show them in different videos. Instead of using traditional media such as prints and billboards, they resort to advertising their products and services online.
The ads compete with each other through bidding to earn that ad slot on your video. Every netizen who watches the ad before your video will give you a share of earnings. To be precise, 55% will go to your account while the remaining is to Youtube. Last year, this platform generated 19 billion USD through the advertisement campaigns of different brands and companies shown on this platform.
This industry is lucrative, especially when you have a passion for creating content on your preferred niche and attracting subscribers. Youtube ad revenue earnings are highly reliant on the number of views and subscribers that your channel has. That is the reason why you should start your channel strong as it uses analytics, data, and insight from your videos.
3. Affiliates and sponsorships
Today, who doesn’t know affiliate marketing? By having a massive audience in your channel, sponsorships and commissions will naturally follow, which will help you earn money. However, you must first establish your virtual identity by having a channel with great content, viewed by many users, and has many subscribers. In that way, you would attract brands and companies to send you some products and services to promote on your channel.
Sponsorships and affiliates vary depending on your niche. They accumulate as time passes by because as you grow your channel organically and gain more subscribers, you will receive more sponsorships and affiliates. Unfortunately, this is not the best income source because fame is a pre-requisite before you can earn income in this mode.
4. Dividends stocks
When you invest in the right stocks, this method can also be another source of income. You get paid with a portion coming from huge companies for owning a certain percentage of their stocks. They are like a bonus that the company gives you.
Is it not amazing to earn money even though you are not doing any works and tasks? Instead, let the money work for you. You can do what you love at your own pace. No need to follow stringent exhausting daily schedules of being in the office almost 24/7 anymore.
5. Bank account interest
While you are still working, you should save a portion of your salary in the bank. The last source of his income is the interest coming from the bank accounts. Putting your hard-earned money in banks’ care is a wise choice that you could make because it is safe and government-insured. Thus, it provides protection against inflation, theft, and the like.
The interest that you could acquire in your bank accounts depends on the amount of money your accounts have and the terms and policies of each bank. As for him, his annual bank account interest is 1.7%. Your money grows as time passes by when you deposited your money in your bank accounts.
There are different sources of income that you could try. The examples stated above are examples of it to give you an idea of the possible opportunities you can have and the situations you can experience. From investing in stocks, starting a Youtube channel, sponsorships, and even bank interests, they are lucrative, especially when you hit the jackpot. At the end of the day, it is still your decision to spend or invest your money.
Doubtlessly, you can generate an income passively and will accumulate eventually once you have a substantial foundation of the essential things. Why not try, and who knows that you can succeed with the chance you attempted to take. You should always remember that nothing comes easy, but if you persevere and trust your growth process, someday you will achieve those dreams, too.
Everything takes time, so you must be patient. So, what are you still waiting for? Why not start now and start chasing those seemingly impossible dreams? The money will surely be on its way to your pockets soon to stay unlike before. Break a leg!