These passive income ideas are working for many people in South Africa right now.
Earning passive income could give you the financial freedom you’ve always wanted in life.
The best part?
I’m going to show EXACTLY how you can too, earn passive income (in 2020).
Let’s get started.
Understanding Passive Income
Passive income is when a person puts up a lot of work, time, and possibly money into an idea so that it pays you in the future. You’ll continue to get paid after the work is done with no or little effort.
It is important to note that some of these passive income ideas will require more time and effort to get it up and running. But once set up, you’ll start enjoying the fruit of your investment.
For example, building a blog will take some degree of upfront work to start earning residual income.
Earn More Revenue With Passive Income
A list of 6 best passive income ideas that are worth trying in South Africa right now.
Individuals and businesses today make a lot of money online with blogging than actually offering services to customers/clients
Basically you create a blog, write relevant and comprehensive content, drive traffic, and sell advertising in a form of affiliates.
Obviously there’s no company in the world that gives away money like that, as discussed the definition of passive income above, you are going to be required to put quite an effort in the beginning.
If you do it right, then blogging will take care of you, your entire life.
Here’s a list of successful bloggers that share their earnings.
2. Real Estate Investment
This type of passive income opportunity is going to require a lot of capital however if you build up your portfolio right, trust me, the benefit that comes with properties is just priceless.
You can start by buying your first property at an early age however don’t stay in the house, rent it out. A property can only become an investment when it’s giving you returns.
Set up your own YouTube channel and share unique and helpful videos subscribers will love to watch. You’ll need to grow subscribers for your channel to start earning passive income with YouTube.
It’s going to take some time to build such a channel however if you focus and pay attention, learn ways to improve your YouTube channel, you can make a living out of the platform. Note that YouTube is the most viewed social media platform in the world per day.
Watch this video to learn more.
4. Share a ride (e-Hailing)
If you own a car that’s in good condition, join any of the popular e-hailing companies in South Africa,
You’ll earn a commission when people share a ride in your car.
You could make between R7 500 and R13 000 per week if you put in a lot of hours and trips.
Register as a driver and start enjoying the experience of e-hailing in South Africa.
You would be one of many who makes extra income in South Africa with Uber and Taxify (now Bolt).
5. Peer to Peer Lending
This is one method that is widely used in South Africa, here you will lend money to individuals struggling to access finances with big institutions such as banks.
You have the ability to choose who to borrow money to, obviously not family because they will always give you issues.
The people you choose to work with will in the end minimize your risks and help you reach more customers.
The way it works is very simple, you borrow me and my friends R500 and we pay you back interest each month, that would basically be your passive income. You can earn up to 8% of your initial lending amount as an investment.
6. Network Marketing
There are a couple of companies in South Africa that helps people make extra income every month by selling already good quality products.
Businesses such as Avon, Forever Living, Amway, and so on, gives people the opportunity to make thousands of rand each month however only the hard-worked get rewarded.
If you invest a lot of time and effort into the opportunity, from whichever company, network marketing can give you all the financial freedom you want, you can work full time from work, on your own terms, flexible hours, and so on.