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Even if you have a well-paid job, having a second income is always a plus.
After all, a second regular stream of cash means that you have more security, gives you more flexibility on how you spend your money (impromptu trip abroad? An unforeseen expense? No problem!), and can help you reach financial independence early on in your life.
Still, most of us just don’t have the time to have a second job.
That said, there are other ways to get extra cash, with minimal to no effort involved.
Earning passive income is one of them. Passive income is a regular income which requires little to no effort to maintain, making it the perfect option for people who want some extra cash to do the things they love. To make it easier for you to set up your passive income revenue stream, we rounded up some of the best classes you can take to understand your options better.
1. Write a book and get royalties
Sure, writing a book is actually a lot of effort. It is, however, a worthwhile way to earn you passive income to last a lifetime thanks to royalties. Royalties are basically money you can get as an author for each copy of your book sold. That said, you might want to take a writing class in order to brush up on your storytelling skills.
2. Invest in the financial market
Unless you’re a financial professional, investing in the stock market might be dangerous. There’s one exception, though: Index funds. Sure, you won’t get as much money as if you invested in individual funds, but you won’t lose as much either. That said, this course also teaches you about other investing opportunities so you can make the best choice for you.
3. Write a blog
Blogging is an absolute cash cow if you play your cards right. After all, loads of bloggers that started from the bottom are now getting paid loads through advertising fees, while also getting free stuff. If you already own a blog, or if you want to start one, it might be worth taking tips from Daniel, the man behind the “2017 Blog Blueprint” course, who now makes six figures with his blog.
4. Sell your photos online
If photography is already a hobby of yours, it might be worthwhile monetising it. After all, you’re already taking the pictures, so why not sell them? It’s a daunting prospect, but one which could get you some extra cash to buy more equipment, or go on holiday. This course will gives you some tips on how to get paid fairly while also helping you feel more confident about putting your work out there.
5. Create an app
Whether you want to make a useful app or the next Candy Crush, you’ll need to learn how to code. This course is project-based, meaning you’ll get loads of hands-on experience and learn how to create an app from start to finish.
6. Invest in real estate
Although it’s important to note that investing in anything has its risks, putting your money into property could be safer. After all, people will always be looking for places to live, so it just makes sense. This course will teach you all you need to know about real estate investing, including renting out spare rooms through Airbnb, becoming a landlord, investing in underdeveloped buildings as well as land, and much more.
7. Create an online course
Everyone is an expert at something, whether its a hobby or insider knowledge on an industry. As long as you know how to communicate effectively, the knowledge you have on a certain topic could help you get a constant stream of passive income. That said, putting a course together is hard, so it might be worth learning both how to create one, and also how to market it to potential students effectively.