Looking for ways to increase earnings without compromising your day job? Residual income might just be what you’re looking for.
What is residual income?
Simply put, it is income you get over and over again for a thing or work done only once.
Here, read on.
Blogging is a great way to earn even when you’re out working. At night even when you sleep, you’re still earning. How cool is that?
People make money thru blogging by
- Renting space in their blogs
- Promoting other people’s products
- Selling other people’s products
Blogging does not need much capital. What it needs though is content. According to an article, Bloggers have to fill their websites with useful and interesting stuff.
This is what keeps people coming. The more visitors, the more sponsors bloggers get.
2. Investing in stocks
Have you watched the movie “Wall Street”? It was good right? Invest once, make money many times.
What it showed was that ordinary people can own shares from big companies. By buying shares, you own bits of the company. You’re then entitled to percentages of their earnings.
Stocks earn dividends. Besides regular earnings, the dividends get reinvested and the principal grows.
You really do not have to be physically inside the trade center. Deals can be made thru phone while you’re sitting on your comfy chair. You’re earning with your invested money over and over.
3. Writing a jingle or a song
Song writers even if they’re not as popular as singers enjoy cash rolling in. How? Through royalties .
The law states that songwriters get a piece of profit when their songs
- Are performed in public
- Are used in TV, Movies
Other creative works that collect royalty are:
4. Self service laundry
Did you know you can earn more than $10,000 a year with Laundromats? Wow, this is great additional income! While you’re at work earning, your machines earn some more.
Laundromats are terrific investments says a lot of store owners. Their typically durable and they don’t need much supervision. One goes visiting the machines only a few times just to collect coins.
5. Real estate rent
Whether it’s a house or apartments you lease, this residual business is the best. You would agree waiting for this month’s rent is easy income right?
Land too is a great investment. If you have a wide one in the city, turn it into a parking area. You would not believe how many people are looking for safe parking zones.
6. Fitness training DVDs
If you’ve been a gym instructor for so long, why not make money with it. Don’t be satisfied with what you make monthly. Create something that will keep money rolling in.
With your expertise, you can sell exercise programs via video. With royalties, you’ll be able to collect cash every time your video is bought.
Examples of popular fitness training being taught via video:
- Kettle bell exercises
- Tae bo
7. Manuals on how to make stuff
Are you making your own soaps, candles or jewelry? Try making your products so unique and write a manual about them. These gigs will bring in money for you.
You create manuals once, but you continuously earn over and over again. Every time your manual is bought, you earn thru royalty.
Can a photo make you money more than once? Sure.
Your really cool photo can sell many times through photo stock sites. Every time someone uses it in a blog or anything, you earn.