Passive income: Expert on making money when you're not working
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Side hustles are popular ways to earn extra money but one young mum has ditched her corporate job in favour of her part time passion as a passive income mentor. Niki, known on TikTok as ‘slowlivingsimplifed’ has shared how she has done it and how others could make this kind of money to help ease the cost of living.
Niki has 202.4k TikTok followers and regularly shares her tips and tricks for people interested in side hustles.
She now works just five hours a week, allowing her to stay at home and look after her children
In one of her videos, Niki said: “I teach people how to create passive income so they can slow down and enjoy life some more.
“The first step is to go to Canva – it’s free.”
The TikToker tells people to sell their guide on Pinterest or TikTok as these are free and says once a system is in place, people can work just a few hours a week.
She continued: “Create a helpful ebook, how-to guide, progress tracker, calendar – something that’s going to be helpful for people, that can help them solve a problem.
“Most people have something that they are passionate about, that they could write a how-to guide on.”
“From there, people purchase the digital guides to solve their problems, so they’re excited to pay $20-$30 [£17-£26] for a guide.”
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When it comes to making money, experts say that the number one tip is to choose a business or passion that will make money while you sleep.
Life and business coach Lucy Griffiths previously told Express.co.uk: “It sounds so simple when I say all you need to do is create the course, build your sales page and find a steady flow of eyeballs to read about your course and buy it.
“The reality is you will have moments of frustration; yes, at times, building a course-based business is complex, complicated and bloody hard work, but that doesn’t mean you can’t make this a reality.”
She has written a book called Make Money While You Sleep: How to Turn Your Knowledge into Online Courses That Make You Money 24hrs a Day.
Lucy said anyone can do it but it does take a lot of work in the beginning to get up and running.
She added: “You can turn what you know into an online course regardless of your age, background and education.
“Passive income is about generating revenue on repeat.
“It’s also known as recurring income, but whatever term you use, it’s something that requires a hefty dose of drive, determination and hard work to get up and running.”
10 other ways people can earn an extra £500 a month:
1 Airbnb – all people need to get started is a spare room
2 Karshare – make around £600 a month
3 JustPark – renting out the driveway could earn people over £100
4 Stashbee – let someone store their stuff in the loft and earn up to £300
5 TaskRabbit – limitless earnings depending on free time
6 TV and film extra – up to £200 a day
7 Tour Guide – up to £300 a day in London
8 Homesitting – around £20 a day but it’s an easier way of life
9 Market Research – up to £50 an hour but the work is few and far between
10 Skillshare – limitless earnings depending on free time and skills.
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