How to make passive income

With more and more people opting away from traditional 9-5 jobs, the appeal of joining the gig economy is at an all-time high. However, for many people, forgoing their full-time job is not realistic.

Fortunately, there are plenty of ways to make money from your skills, knowledge or even hobbies by continuing full-time work and pursuing your interests as a “side hustle.” Having a “side hustle” allows you make extra cash without the need to quit your day job, and if you’re lucky, it may potentially turn into a full-time career option.

Here are three ways to make passive income:

Join the sharing economy
The gig economy is booming with the likes of Airbnb, Deliveroo, Airtasker and Uber all creating opportunities for people to make extra income. Many of the services allow flexibility to cater to your lifestyle, for example, you can choose your availability to your suiting.

Use your skills
Have you considered using the skills you use in your current day job to make extra cash outside of your work? If you work in design, marketing, IT, teaching, waitressing, etc., you could use these skills to start freelancing, offering tutoring or waitressing for events in your local area.

Start a blog
Blogging about your interests or knowledge is one of the first steps to establish yourself and grow your personal brand in an industry you’re looking to become involved in. A blog can lead to business opportunities, particularly, if you dedicate a lot of time and effort into making it grow and helping your readers. It is common for bloggers to start out by writing blogs, an online community grows organically which can then turn into a potential business.

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