“Money cannot buy happiness, but it can, however RENT IT” it’s a funny but true saying. Mostly all of your worldly desires require money to be fulfilled. Isn’t it? There is no doubt that the most common desire among all the humans on the planet is money. Many people become filthy rich and live great lives, but few people are in hope of money throughout their life; Why? What is the reason for someone living like kings and others to work all their lives in hope of it?
The only major difference is Financial IQ.
Many people with ordinary jobs of 9 to 5 usually have hardships when it comes to finances. Many people desire more money but earn limited due to lack of financial knowledge and skills. They aren’t aware about their financial IQ. They fill their brains with technical stuff but don’t train their brain with financial knowledge. This is the main reason why the rich become richer, and the poor & middle class struggle whole life.
So How to train your brain with Financial IQ?
Rich people become rich as they have multiple source of income. Poor stays poor because he depends wholly upon his ordinary income i.e income from job. Rich person also earns ordinary income but is also active in his passive income. Other sources of income combine makes you rich, not one, as the famous saying from the richest investor Warren Buffet “Do not put all your eggs in one basket”. The more you earn passively, the more financially educated, you are, the more you are aware about money. In this article you’ll be knowing about earning passive income that will boost your financial IQ:
What are the ways of Earning Passive Income?
There are a lot of ways by which you can earn passive income, but in this generation, in the internet world, the best way is earning money online. So why, is earning online the best of all? Passive income can be earned through many ways like earning dividends from shares, rent from real estate, royalty & etc. But these methods do require investments. Eg) For renting a house you must first own it, you need huge investment, for earning dividend you need to heavily invest in stocks ( There is also risk of losing the principle amount depending on the market conditions). Earning money online doesn’t require any huge investment, but yaa, they do require some sort of skills, but that are easy to acquire. So, after analyzing different methods we reached at the conclusion that earning online is the best method of passive income. So, the main question is how to earn money online?
How to Earn Money Online?
So, first to earn money online all you’ll need is a laptop and a Wi-Fi off course. After having the necessary requirements, you have to analyze what is the best method of earning online suitable for you. Yes, there are a lot of ways by which you can earn money online. Some of them are:
Top 5 Ways of Earning Money Online:
1. Start a blog
Blogging is the most common way to earn money online. If you are a creative person, or you’re fond of writing, then blogging has a wide scope for you. You can start your niche website and write blogs of your interests. You can share your ideas, views, facts through your blog to the whole world of internet. By continuous input and consistent efforts your blog could get huge traffic and you’ll earn passive income through ads networks.
2. Write & Publish an E-book
With the continuous growth of the internet, methods of reading books are also changing. Many people prefer reading an ebook rather than hard copy as they are convenient. You can also write your own ebook, If you have interest and knowledge in any specific field. You can share your knowledge with the world through your ebooks. You don’t require any publisher and you’ll also me recognized as an author. Once you finish publishing your ebook, you’ll earn passive income depending on the number of copies sold.
3. Become a Freelancer
Freelancers are one, who take on contract work for companies and organizations, they are ultimately self-employed. By being a freelancer, you do other companies work but you are not bounded by them like ordinary employees, you are in full control of your work, and you work on your own terms. Freelancing has a wide scope for anyone who is passionate to work, but hates orders by employers.
4. Affiliate Marketing
It is one of the best ways to earn money online. All you need to do is review and promote other company’s product, and you’ll earn commission on your sale. You don’t require any technical knowledge in affiliate marketing. All you’ll do is review and recommend other’s products, making it easier for the buyer to take his purchasing decision. Many organizations help people in making their purchasing decision like The-NonFictionZ, where you’ll be getting honest reviews on Books, Cameras, Musical Instruments & Projectors. So, to start your affiliate business, just choose your niche and affiliate program which suits you, and start working.
No doubt youtube can make you filthy rich. It just depends on your efforts and talent. Shooting a video requires some sort of talent, depending upon your niche. Many people earns millions through youtube. Not just money, youtube gives you the attention of the world, making you popular. If you have any hidden talent, and you want the world to know about it, then youtube is for you.
“Money isn’t everything, but everything needs money” So, at last we learned a lot about money, passive income and online income. This article might have rang the bell in your head about money- the most desirable thing in the universe. You have learned a lot about online earnings. Now its your turn to analyse the above methods and select the one that fits you. Hope you enjoyed reading this article. Wishing you a happy financial future.
Myself Gaurav Saraswat and I serve as an Seo executive at an IT company. Where I’m leading the team of interns.