What are some good ways to make money online as a side income source? 6 MAJOR WAYS
Do you know there are several income streams you can invest in as a side hustle, these income stream ranges from dividend-paying stocks, real estate rent, income from social media account, affiliate marketing, drop shipping, blogging, affiliate marketing, crypto trading, selling your skills to people in places like Upwork’s/Fiverr, minting/selling NFTs, freelancing, etc. this income streams can serve as a side income for student, stay at home mom or housewife as well income earners.
INCOME STREAMS TO INVEST IN
DIVIDEND-PAYING STOCK
Dividend stock income is paid out of the profits of a corporation to the stockholders. In Dividend stocks, a portion of the company’s earnings is distributed to investors on a regular basis. It is considered income for that tax year rather than a capital gain. Dividend stock is a good investment income platform, because They provide a nice edge against inflation, especially when the stock grows over time. They are tax-advantaged, unlike other forms of income, such as interest on fixed-income investments.
AFFILIATE MARKETING
Affiliate marketing is also one good income stream in which a company pays other bloggers or models to advertise their products and services and generate sales., this type of income requires the type of performance-based marketing where an organization pays or gifts social media influencers or bloggers for each visitor or customer brought by their affiliate’s own marketing efforts or platform.
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ESTATE RENT
this income stream is renting out estates for people for commission, you can do the advert placement in order to get people to rent the house while you get paid for each service rendered.
SELLING DIGITAL PRODUCTS AND ONLINE COURSES
These income streams require you to concentrate on the area you are an expert in, you can earn money on information products: selling courses, training materials, webinars, guides, etc. Even though the topic has long been heard and actively used by many, it is still relevant. The main thing is to create a quality product, not a hack.
The essence of the idea is this: you create one information product and then sell it many times.
PARTNERSHIP PROGRAMS
An affiliate program is an interaction between an advertiser and his partner who sells. Anybody with a good amount of social media followers or subscribers can earn in this way.
The process requires you to place on your social media page information about particular products, goods, and services connected to affiliate programs, and when People who follow your social media page click or buy it using your link, you can earn a percentage based on every sale of the number of people who used the link.
BUYING AND SELLING SITES OR HIGH EARN DOMAIN NAME
Recently, this method of income has been a major source of passive income as the purchase of a ready-made website has gained popularity, and can be bought and re-sold at a higher price.
And also, high earn domain names can be bought and resold at a higher price
“In 2018, Elon Musk said on Twitter that it actually cost $11 million, to buy the Tesla.com domain and it took 10 years to buy that Tesla.com domain, and took an “amazing amount of effort,” to get the domain name off Grossman”.
Grossman bought tesla.com for a small price and sold it for $11 million, which is a great investment
