This is mainly a related post for the following video which I have published on Youtube.com, it will hold some very brief details and the related web addresses for the stuff which is mentioned in the video, as that is bit hard to manage there. Also will keep updating this post with new web addresses to the new useful resources I find.
At first, following is the video I am talking about, so make sure to watch. And if you like, you can go and subscribe the channel as well.
So I talked about following five to six categories of passive or side income ideas in this video.
1. Investment in Money / Debt Market
If you are already earning through a job or a business, the best and most logical way to build additional income streams will be to start investing. In this regard, the least you can do is move your savings to a savings account. And like me if you only like to use Shariah Compliant methods for your investments and profit, you can use the Islamic banks.
However, here there is a problem. Islamic banks like Meezan Bank unlike the conventional banks pay you half amount of whatever they earn from your money in the savings account. But like any problem there is an associated solution.
Solution is that instead to depositing the money in Islamic/shariah compliant saving account, you must deposit your money in an Islamic/shariah compliant Mutual Fund. Unlike a shariah compliant savings account the shariah compliant mutual funds do not keep the half of your profit with themselves. They keep a very small percentage of profit like 2% to 3% or so while giving you a halal way to invest and earn money.
For more details i would like for you to watch the video above. Every bank in Pakistan now a days investment firm which also offers the Sariah compliant mutual funds. Video explains it very well on which funds you have to choose, so web addresses of some of such investment firms’ web pages are as follows.
- Al Meezan Investments – almeezangroup.com
- MCB Funds (MCB iSave) – mcbfunds.com
- Faysal Funds – faysalfunds.com
- HBL Asset Management Ltd – hblasset.com
- UBL Funds – ublfunds.com.pk
- JS Investments – jsil.com
- Dubai Islamic Mutual Funds – dib.ae/personal/investment-products/mutual-funds
- Bank Islami Mutual Funds – bankislami.com.pk/mutual-funds
- NBP Funds – nbpfunds.com
I will keep building up this information, do suggest in comments if I missed something. I know I definitely have but you get the idea. Will come back to this later on.
2. Investment in Dividend Paying Stocks
This is very self explanatory and the main video above have very detailed information on this topic. I recommend you to watch the video for the full details about this topic. Briefly the idea is to invest in stocks or shares of companies which believe in sharing their profit with their shareholders via regular quarterly bank transfers, this is also called dividend payment. Not all the companies believe on this, lots of them like to hold any profits or gains in the name of running operating expenses or the possible future expansions like add more production plants etc.
Along with the information found in above video, if you want to go into more details, for tips and tricks on how to choose the right stocks to long term dividend investing and whole strategy, you can also watch my following video. Which goes in more details of dividend based investment strategy to remain profitable even when stock exchange is overall going down. And when Stock Exchange goes up, this strategy shines even more.
3. Start a Youtube channel
Next passive or side income idea I discussed in my video, embedded on top of this post, is to create a youtube channel. But it is not really just creating a channel, lots of steps of involved including how to choose your niche and specially what you need to be careful about, in order to be successful in that. Nothing much to say here, everything is explained in detail in the video.
4. Start offering services online
Some people think that only programmers or software engineers can offer services online. Reality is much far away from that. While explaining this part in video, I have in detail explained two dozen services which anyone can offer online, some of these services do not even need any sophisticated skills or even any skills at all. You can get the details about the services from the video, however, here I can provide you web addresses of websites where you can offer these services. I will keep adding more and more web addresses to this section, so bookmark this page and keep checking back.
Gig based Websites: You create gigs based on what you can do and customers order on your gigs.
- Fiverr – fiverr.com
Normal Freelancing Sites: Customers post specific tasks or projects, you bid on them and winning bid works on those tasks or projects.
- Upwork – upwork.com
- Guru – guru.com
- Freelancer – freelancer.com
Site for freelance jobs related to youtube: Task like thumbnail design, video editing, writing the video metadata and more.
- Yt Jobs – ytjobs.com
Remote Work Sites: Organizations post jobs, also people post details about them, often interviewed for skills they are offering. Right candidates get hired to work remotely on projects on good dollarized hourly rates.
- Remote Jobs – remotejobs.com
- Arc – arc.com
- Flex Jobs – flexjobs.com
- Remote – remote.co
- Jobspresso – jobspresso.co
Will add more resources in future to this section as well. You can also share some in comments.
5. Royalty based passive income
This section of the video discusses the passive income ideas where you work once, create something, upload it and it keeps generating income for you. For better details on everything, again I would recommend that you watch the video on top of this post, however, for each category, I will share some links and resources with you in this section.
a. Earn via print on demand platforms
If you are familiar with different font or know a thing or two about designing, you can make your own designs which you can upload to print on demand sites. They print those T-Shirts, mugs, cushions and more. If anything with your design gets sold, you get a good commission. You even have option to set prices and commission yourself. More details in video, sites are as follows.
- teespring.com
- redbubble.com
- teepublic.com
- merch.amazon.com
- society6.com
Again more will be added. Give your feedback in the comments.
b. e-Books / Books Publishing
You can sell your e-books or books online. If you are good at writing or even good at snapping pictures, you prepare a book and sell online in both physical or ebook forms.
- Sell Books on Amazon – sell.amazon.com/learn/how-to-sell-books
c. Stock Media
You can sell pictures, video and even audios online. More details in video on top of this post, however i will list the websites which will allow you to sell media online.
- iStock Photo – iStockPhoto.com
- ShutterStock – ShutterStock.com
- Envato Elements – elements.envato.com
- Fotolia – fotolia.com
- Unsplash – unsplash.com
- Getty Images – gettyimages.com
- Adobe Stock – stock.adobe.com
- Deposit Photos – depositphotos.com
This is just a start the web addresses in all sections will keep growing, so more and more options can be explored. Do help me in this effort by commenting below. If anything does not work in Pakistan, do also share that. To the best of my knowledge everything listed above should work for Pakistanis. It is a collective effort, lets keep this post better and better, so that we can help more people in earning online and/or with listed side/passive income ideas.
There are some bonus ideas which you will only find in the video. Also tremendous amount of additional information about all these above ideas is provided in the video. Video is embedded on top of this post, so scroll to the top and watch. You can also subscribe to the channel following this link.