There are so many people searching the internet every month on “how to make money online” (18,100 every month in fact) 

So why isn’t everyone a millionaire? Well, it all comes down to self-belief. The likes of Gary Vee is continuously banging on about how simple it is. We think it’s harder than it is and we tend to overcomplicate matters. That being said, it’s not as easy as people make out, you do have to put the hard work in and occasionally turn down invites from friends or family as you are working on your hustle. 

So what is the difference between being wealthy and being rich?

So for those looking for a get rich quick scheme, then this isn’t the blog post for you. I am going to teach you how to get rich slowly but surely. So if you want to know how to generate a constant passive income, then continue reading. 

Well, think about Ebeneezer Scrooge. He had a lot of money, come on he was rich! However, he lived a small purposeless life. All he did with his life was work, eat and sleep. He didn’t live a full, balanced and enriched life. That was until the ghosts showed him the error of his ways, and he soon changed how he lived his life, only then he became wealthy. Did he start earning more money? Did his numbers come up on the lottery, OK, that was a bit far fetched, but you get what I am saying?

Rich = Rich people have high income and lots of cash such as a world-class basketball player.

Wealthy = Wealthy people own assets that generate income such as a real estate empire that stays in the family.

3 Ways To Make Money Online and Earn Passive Income With Little or No Money

Affiliate Marketing

Affiliate Marketing is one of the easiest things you can do to make money online. Amazon.com (.co.uk) and eBay both have affiliate programmes. You can join networks like Awin that is a global affiliate marketing network. It has 100,000 publishers and 13,000 advertisers.

If you want to start small, you can recommend products on your personal social media pages. However, I recommend you have separate groups/pages purely for your business. Growing your affiliate marketing business will take time but if you had a following of 10,000 people and just 1% of them spent £20.00 each month through your affiliate links with an average of 5% per sale that would equal £100.00 in paid commission every month. Scale that up, and 100,000 followers would earn you £1000.00 per month using the same formula. Imagine if 5% of your followers clicked through and bought from your affiliate link, that would be £5,000 per month if you had 100,000 followers. 

Retail Arbitrage

Retail Arbitrage is what Gary Vee is continuously telling people who tell him they want to make £100,000 per year. He says this is one of the easiest things you can do and I don’t disagree. You can go down to your local bargain store/pound store/dollar store pick up 100 x Colgate Toothbrush Premier Clean 4 Pack from B&M for £1.00 each then flip it on Amazon for £2.19. That’s a gross profit of £119.00 minus fees. 

Sound too easy? It is, the hardest bit is overcoming your own criticisms and self-doubt. 

Write an eBook

We’re all experts on something. Some people are so passionate about their dogs they have written a handbook on how to keep your German Shepherd happy healthy and well behaved, mum’s who have been at their wit’s end have found solutions for new mums to help with their sleepless nights, investors who specialise in specific industries have written beginner guides for those getting into crypto, for example, and others have created products that teach self-defence. You will be surprised what kind of products are on Amazon Kindle, Clickbank and Etsy. 

I created a product on Clickbank called “How To Sell Your House Quick”. It’s for those whose home has been on the market for several months; they aren’t getting many viewings, any offers and they just don’t know what to do. I would call myself an expert in this field. I have viewed, bought and sold many properties. I have seen some great properties, and I have seen some terrible off-putting properties. What I thought was basic and common sense was actually a skill I’d acquired after my many years in the real estate industry. 

It just about having the confidence, knowledge and ability to monetise that information. Clickbank is the perfect platform to sell your eBook along with Etsy, Amazon Kindle Publishing. 

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I know what you’re thinking, how have I saved £12,500 without using my paycheck?

For a while, I had been thinking about how I could make some extra money on the side/from home without starting a part-time business. I have considered setting up an online store and importing products from China and selling them on amazon.co.uk or Shopify, although great ideas and something I could definitely make a success out of, at that moment in time I felt overwhelmed at the thought of it all. I wanted to start small with my side hustle, I didn’t want to run before I could walk. Then I remembered something I heard earlier that week … A few days prior I was relistening to a Les Brown audiobook and in one of the chapters he talks about his friend with alopecia and the everyday struggles she goes through and what kept running through my mind was one simple statement; “use what you got!”

So the question is what did I have? I had this big beautiful victorian apartment, it’s a 5-minute walk from the town centre (7 minutes with my little legs), it has a large kitchen, a VERY large bathroom and two king-size bedrooms (one with an ensuite) and one double bedroom, which was being used as a dining room.

My boyfriend works away and it’s just me most of the time and we only really used the dining room on special occasions.

I have always been interested in real estate, and have one property that my boyfriend and I jointly own and rent out. So the thought of renting rooms out in our home didn’t scare me at all.

The How

So after some consideration and a little research, I decided to rent two of the unused rooms out. The extra cash could come in handy someday … maybe towards an emergency fund or a deposit for my next house.

So I listed the property on spareroom.com and waited for the enquiries to come flooding in, and they did.

Here in the UK we have a Rent a Room Scheme, which allows you to earn £7,500 (approx $9,600) tax-free from letting out furnished accommodation in your home.

Stacking

Which rooms were the most profitable?

I soon realised that the kingsize ensuite bedroom would bring in the most amount of money, £650 per month in fact and the second king size room for £500.00 per calendar month. I moved into the dining room, it was ideal but I understood the bigger picture. A small sacrifice for the long term gain.

I had this money paid into a separate bank account so I wasn’t even tempted to dib into the money whenever I wanted to indulge myself. It just felt like free money! I didn’t have to purchase another buy to let property, I simply made money with what I already had.

So after 12 months I had an astonishing £13,800 in my bank account and after taxes I ended up with roughly £12,500.

Previous to renting the rooms out, our bills including the mortgage were a total of £1,050.00 per month they increased by less than 5% which was mainly due to extra water being used. Gas and Electric roughly stayed the same as I was already paying to light and heat the property.

So there we have it, it’s that simple. Granted there are other ins and outs we can discuss like setting up an agreement but this is how I made an extra £13,800 in a year. Are you willing to give this a try?

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This is why I ALWAYS suggested having an Emergency fund. An Emergency Fund is a stash of cash set aside in case you lose your job, your earnings decrease, you receive unexpected medical bills or if your health affects your ability to work.

In a Federal Survey, 44% of people said that they would need to borrow money or sell something to cover a $400 emergency expense.

To determine individuals’ preparedness for a smaller scale financial disruption, respondents are asked how they would pay for a hypothetical emergency expense that would cost $400. This amount reflects the type of expense that one may experience from an unexpected car repair, appliance replacement, or medical bill. Just over half (56 percent) report that they could fairly easily handle such an expense, paying for it entirely using cash, money currently in their checking/savings account, or on a credit card that they would pay in full at their next statement (collectively referred to here as “cash or its functional equivalent”). The remaining 44 percent indicate that such an expense would be more challenging to handle and that they either could not pay the expense or would borrow or sell something to do so

The solution to this is to have an Emergency Fund.

So before you take out a high interest credit card/loan or start pawning off your belongings, why not consider starting a side hustle. START NOW, before things get nasty and your back is to a wall.

51 Lucrative Side Hustles You Can Start Today

1. Invest in cryptocurrency and draw down 10% of your monthly gains
2. Become an Uber Driver
3. Become a Airbnb Host
4. Become a Delivery Driver
5. Complete Online Surveys
6. Become a Blogger
7. Become a Vlogger
8. Become a Babysitter
9. Become an Online Teacher in Your Specialist Subject
10. Create a Course (Udemy)
11. Sell on Amazon
12. Sell on eBay.
    Go through your closet and go through all your wanted clothes, shoes, handbags, kids old toys and list them on eBay. You be surprised how much untapped money you have at the bottom of your closet.
13. Sell on Etsy
14. Sell Your Services on Fiverr
15. Become a Virtual Assistant
16. Become a Proofreader
17. Write Copyright
18. Become a Real Estate Investor
19. Set up a Podcast
20. Sell Your Services on Upwork
21. Wash Your Neighbours Cars
22. Become a Cleaner
23. Repair Your Neighbours and Local Businesses Computers
24. Become a Life Coach
25. Become a Dog Walker
26. Become a Local Handyman
27. Become the Human Billboard
28. Become an Interior Decorator
29. Become a Model
30. Be an extra in a TV Show
31. Become a Mystery Shopper
32. Become a Pet Sitter
33. Become a House Sitter.
    This combines travel and saving money.
34. Become a Photographer
35. Become a Meditation Teacher
36. Become a Window Cleaner
37. Become a local tour guide, film your experiences and upload onto YouTube
38. Teach English over Skype
39. Teach a Language
    Can you speak more than one language? There are people out there dying to learn another language, so why not utilise your talent. People WILL pay money for this information.
40. Recycle old Electronics
41. Manage Social Media For Local Businesses
42. Be an Affiliate Marketer
43. Write an eBook.
    It is SO easy to get your work published nowadays … and that with Kindle Publishing.
44. Create YouTube Tutorials.
    You can also link this with the affiliate marketing strategy.
45. Become a Personal Shopper.
    Do you love fashion and making people look beautiful? Then use your creative eye and  become a Personal Shopper. You can work out deals with your local boutiques for a percentage of the profit from each sale.
46. Offer to Write People’s Resumes.
47. Become a Baker
48. Private Label Products
49. Multi Level Marketing (MLM)  

2 Random & Bizarre Extra Lucrative Ways To Create A Side Hustle:

1. Sell Your Hair
2. Rentafriend

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