Passive Income Ideas

Countrymadegirl · Nov 13, 2018

So, I'm one of those weirdos that starts thinking about New Years resolutions in November, and have been thinking about ways in which I can work smarter next year, and be (eventually) earning £1000 per month.

I'm a long way off from that figure at the moment, and as each day goes by, I wish that I could do something to earn me decent money that wasn't quite so time consuming.

I guess my real question is, aside from owning property, what is your top earning passive income? Do you have several streams of passive income? How do you manage them?

Looking to put in some major work between now and the new year, and anything I can get set up as a passive income stream between now and 2019 would be good!

Jon · Nov 13, 2018

Running websites / blogging
The former being a site that provides some kind of service. I now make over 4 figures a month from passive income alone so the money is there if you spend 6+ months building your audience and getting the trust high enough from them.

It can feel like hard work in the early days but it really does pay off and the earning potential is limitless!

Countrymadegirl · Nov 13, 2018

Jon said:
Running websites / blogging
The former being a site that provides some kind of service. I now make over 4 figures a month from passive income alone so the money is there if you spend 6+ months building your audience and getting the trust high enough from them.

It can feel like hard work in the early days but it really does pay off and the earning potential is limitless!

What kind of services is it worth offering? I think I want to make blogging a major income for next year, but I'm not sure on the best strategies to use with building my audience, and then utilising that traffic. I was thinking about eBooks and affiliate marketing, but that all requires me to already have an audience!

Cas · Nov 13, 2018

what about Peer to peer lending.

you can make a small amount on that each month

Countrymadegirl · Nov 13, 2018

Cas said:
what about Peer to peer lending.

you can make a small amount on that each month

Have you any experience doing this?

Jon · Nov 13, 2018

Cas said:
what about Peer to peer lending.

you can make a small amount on that each month

Oooh yeah good one!

Cas · Nov 13, 2018

Countrymadegirl said:
Have you any experience doing this?

Ye, I'm doing it right now, its good so far.

There is a risk of defaults, but everything has risks.

Just need extra funds to invest in it

Jon · Nov 13, 2018

Countrymadegirl said:
What kind of services is it worth offering? I think I want to make blogging a major income for next year, but I'm not sure on the best strategies to use with building my audience, and then utilising that traffic. I was thinking about eBooks and affiliate marketing, but that all requires me to already have an audience!

I suppose what I mean by offering a service is providing an answer to peoples questions.

So TMS for example answers the question of 'how can I make money', TotallyBlogging answers 'how do I setup a blog', compare the matched betting answers ' which Matched Betting company do I use!'

At the point of a user hitting those sites the intent is already there so they are more likely click on your links and earn you money

mikecmr · Nov 13, 2018

my ways so far are

1. Rent a room Scheme - I rent a room out in my house £500 a month
2. P2P lending, moderate risk about 6% return at the moment
(3 tier savings)
3. 1st Tier - everyday ISA, small return but you kind of know nothing will happen to it (safe)
4. 2nd Tier - Regular saver with the Halifax, can save £250 per month for 2.5% again its safe
5. 3rd Tier - 5 Year investment ISA long term its more of an invest and forget type thing - again small return
6. Shares managed, I looked at different things but in the end went with a managed service from HL and that's currently running at 8%
7. Unmanaged shares - I have a few that I bought myself and are doing OK with whitbreds is my banker

hopefully a small investment with these each month will return a nice fund later in life.
8. Online work, around 250 ish a month I don't do much anymore but it adds up.

My goals have changed i'm more about paying mortgage off and lumping into a larger pension now

jonv21 · Nov 13, 2018

Always wanted to set up a website, now i might actually have a proper look at my ideas. Have a few floating around, just needed a wee kick start (I can see the possibilities now)

The Reverend · Nov 14, 2018

I created a blog post about Passive Income ideas.

https://thereverend.co.uk/blog/money/create-passive-income/

Have a read - it might have some things you’ve not thought of.

The Reverend

Jon · Nov 14, 2018

The Reverend said:
I created a blog post about Passive Income ideas.

https://thereverend.co.uk/blog/money/create-passive-income/

Have a read - it might have some things you’ve not thought of.

The Reverend

Good post this

Good call on the TCB / QuidCo referral

btw the latter have now moved over to Awin as well if you want to apply for this programme. They've got some great deeplinks they can give you that take users straight through to the '£10 off a dominos / £10 off a justeat' deals!

mikecmr · Nov 14, 2018

ive put more in funding circle its a steady return at the moment but its passive and you don't have to do too much with it, they have a sign up reward at the moment if you invest £2000 you get £50 amazon vouchers and so do I

https://www.fundingcircle.com/investors/refer/KMWHNG

How it works
Once your friend clicks the link they’ll be taken to a landing page explaining how the offer works. They then have to:

Open an account
Transfer in £2,000 or more and start lending by the end of December 2018
Keep their funds active throughout January 2019. We’ll then send a £50 Amazon.co.uk Gift Card* to both of you

homie · Nov 14, 2018

mikecmr said:
ive put more in funding circle its a steady return at the moment but its passive and you don't have to do too much with it, they have a sign up reward at the moment if you invest £2000 you get £50 amazon vouchers and so do I

https://www.fundingcircle.com/investors/refer/KMWHNG

How it works
Once your friend clicks the link they’ll be taken to a landing page explaining how the offer works. They then have to:

Open an account

Transfer in £2,000 or more and start lending by the end of December 2018

Keep their funds active throughout January 2019. We’ll then send a £50 Amazon.co.uk Gift Card* to both of you

I might have a look at this. How long have you been using Funding Circle for? and have you lost any money from loans not being repaid at all?

mikecmr · Nov 14, 2018

homie said:
I might have a look at this. How long have you been using Funding Circle for? and have you lost any money from loans not being repaid at all?

of the 120 loans I currently hold I have had 2 £36 which have had gone into bad debt, but this is not lost I am still getting a payment every few months as they have a repayment plan in place just means might take a little longer to get it back but overall im still running about 6% return that is including the bad debts.

so I haven't lost anything in the grand scheme of things im still up and better than an isa haha!

Countrymadegirl · Nov 16, 2018

Thank you to everyone for responses! I read The Reverend's blog post, and searched online some more to look into ideas, and the ones that seem viable for me at the moment are: working on my blog, setting up affiliate marketing etc for it, selling photos to stock sites, writing ebooks, and doing the course in bookkeeping... I hope that someday soon I will be able to go back to work, and this qualification will open me up to new opportunities, even just part-time!

I hope once I have some money money behind me I will be able to explore some of these other options, like peer to peer lending, and premium bonds.

Jon · Nov 17, 2018

Countrymadegirl said:
Thank you to everyone for responses! I read The Reverend's blog post, and searched online some more to look into ideas, and the ones that seem viable for me at the moment are: working on my blog, setting up affiliate marketing etc for it, selling photos to stock sites, writing ebooks, and doing the course in bookkeeping... I hope that someday soon I will be able to go back to work, and this qualification will open me up to new opportunities, even just part-time!

I hope once I have some money money behind me I will be able to explore some of these other options, like peer to peer lending, and premium bonds.

I think you are all setup for earning a decent amount from home you just need to take those first few steps into the blogging world and then a lot of stuff will fall into place..

Build your blog > Get your brand name out there > Off the back of that brand name sell your stock photos > off the promotion around your blog promote your ebook etc.

It's all sort of tied togeather if that makes sense

Countrymadegirl · Nov 17, 2018

Jon said:
I think you are all setup for earning a decent amount from home you just need to take those first few steps into the blogging world and then a lot of stuff will fall into place..

Build your blog > Get your brand name out there > Off the back of that brand name sell your stock photos > off the promotion around your blog promote your ebook etc.

It's all sort of tied togeather if that makes sense

I think that is what has been so daunting for me, as it's starting something that involves keeping a few plates spinning at once! I am starting to lay the groundwork today by getting posts written, planning photography, creating social media strategy, and creating the outlines for two ebooks I have planned. Once I have a few posts up, or by the end of this month, I will start sorting out affiliate marketing etc, and see how we go from there– already have Wordsense on my blog!

Jon · Nov 17, 2018

Countrymadegirl said:
I think that is what has been so daunting for me, as it's starting something that involves keeping a few plates spinning at once! I am starting to lay the groundwork today by getting posts written, planning photography, creating social media strategy, and creating the outlines for two ebooks I have planned. Once I have a few posts up, or by the end of this month, I will start sorting out affiliate marketing etc, and see how we go from there– already have Wordsense on my blog!

Yeah I would agree you don't want too many plates spinning at once

Starting the blog and REALLY promoting that will take you about 4-6 months before you hit your stride so that's a lot time for you to feel like you are learning new things everyday.

I would say you don't need to do EVERYTHING at once. The online/blogging world isn't going anywhere. No matter what your niche is you are ALWAYS going to have competition so if you decided to start a blog about socks you can bet anything that within a week 3 new sock based blogs will have opened as well so you just can't worry about it!

Take your time with everything, go at your own pace and you'll be fine. If you don't you'll just hit burnout!!

Countrymadegirl · Nov 17, 2018

Jon said:
Yeah I would agree you don't want too many plates spinning at once

Starting the blog and REALLY promoting that will take you about 4-6 months before you hit your stride so that's a lot time for you to feel like you are learning new things everyday.

I would say you don't need to do EVERYTHING at once. The online/blogging world isn't going anywhere. No matter what your niche is you are ALWAYS going to have competition so if you decided to start a blog about socks you can bet anything that within a week 3 new sock based blogs will have opened as well so you just can't worry about it!

Take your time with everything, go at your own pace and you'll be fine. If you don't you'll just hit burnout!!

I have content planned for this month and next month, and many ideas for January and February, but the bit I am not confident on is promoting it. I see some blogger starting new blogs, and getting to thousands of followers/readers within the 6 months, but I don't understand how to do that, or how and where to promote effectively, which has been another factor in me not starting! I'm not too concerned about what other bloggers are doing, as I'm the only one that is me, and I want to use my personal brand as the brand of the blog, and I think being over 30 without children is a niche these days! Lol

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