Who wouldn't want an extra source of income? #passiveincome

Here, are the top 8 ideas for Passive income πŸ’°

A Thread πŸ§΅πŸ‘‡
1/ Graphic Designing-
Today, content is the new king. Everyone on social media are creating hell no. of contents and require people who can create attractive images, posters, etc for them. Demand for graphic designer is increasing. Learn graphic designing and work as a freelancer
2/ Web Development - πŸ•ΈοΈ
If you know how to develop websites or apps then you are gold. You don't have to create huge website, just some simple template-based websites.
For example : The hotels in india have pathetic websites. You can start a small business by making template based websites for them. Charge them a monthly fee. Increase your client base. Even if you have 50 such clients and charge them Rs. 500, then you are earning Rs. 25000.
3/ Building an App -
Learn how to build apps. Build apps directly for the consumers. For example - Make simple app such as apps which sends motivational quotes, jokes, etc everyday to the consumers. List that app on the play store for a ridiculously low price.
4/ Create Courses -
If you have some specialized knowledge about some niche, then you can create a course for it. If you know how to crack engineering exams, create a course for the same, for the people who want to crack those exams. Sell the course online for a small fee.
5/ Video editing-
Video content creation has exploded. Everyone are making content through videos and require people who can edit their video. Learn video editing and work as a freelancer for the content creators.
6/ Content writing - ✍️
If you are good at writing then you are also a gold. There is a demand for content writers because there is a demand for content. You can write short posts on social media, articles on LinkedIn, write scripts for video content creators, etc.
#blogging
7/ Affiliate marketing-
If you have a network of people, then you can run your own affiliate program. This means that if you promote any product in this group or network and if someone buys that product using that link, then you get a commission.
#affiliate
8/ Sell E-books -
If you know anything that can be converted into a book, even a small pdf, then you can create an e-book and sell it online. For example : You can create a 5 page e-book about how to loose fat. Create it and sell it online or on your network.
#earn

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More from @MoneyWell_

18 May
Compounding 101

Albert Einstein once said, 'Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn't, pays it.'

Here's how Compounding works
πŸ‘‡πŸ‘‡ Image
1/Some quick definitions :

Simple interest is the interest that is paid only on the initial principal amount.

Whereas,
Compound interest is interest that is paid on the initial principal amount + the accumulated interest from prior periods.

You earn interest on your interest.
2/ Now, let's understand the incredible concept of compounding using some example :

Imagine there are two best friends - Jeff and Elon

Both of them have accumulated savings of Rs.5 lakh each. They want to invest the sum.

Hence, they start their research
Read 14 tweets
16 May
Money mistakes that stop you from becoming 'Wealthy' πŸ’°

A Thread πŸ‘‡πŸ‘‡
1/ Cutting expenses rather than increasing income -
You cannot become rich just by cutting your expenses. Cut your wasteful expenses but focus more on increasing your income. Passive income is one of the way.
Passive income ideasπŸ‘‡
2/ Not valuing time - πŸ•œ
People keep wasting their valuable time on things that will not make them rich. Invest your time in gaining specialized knowledge, so that you can increase your income. Convert your time into money.
#money #investing #finance
Read 13 tweets

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