Lisa was making hundreds of dollars a month by the time she was 15. As a 34 year old woman, those earnings have turned into thousands of dollars for her business.
She used her experience building passive income streams and teaching herself the basics of financial literacy to start The Financial Cookbook. She teaches other women how to find financial freedom.
Insider verified that her business usually books $8,000 in revenue a month. She makes more money by investing in stock and real estate.
The current economic climate has deterred many people from taking a financial risk. She said it's a good time to invest. The number of new business applications peaked in July 2020 but the number of businesses created each month is still higher than before.
"I think it's an exciting time for investors," she said. It's a good time to get your financial strategy down to a science because history shows that the market will go upward over time.
She says to start by analyzing your finances. To find the most lucrative opportunities, research the markets and trends and meet with a financial advisor.
She encouraged everyone to try the nine methods of passive income that she shared.
As a marketing expert for a Big Four accounting firm for the income, network of colleagues and friends, as well as additional events and opportunities, she still works full time. She advises people to start side hustles in industries they are knowledgeable about if they want to make more money.
She uses her online diary to perform financial coaching. Some industries are more promising for entrepreneurs than others.
If you have a website with a lot of visitors, you should charge advertising.
It is possible for online-content creators to make money from their websites or videos through the use of AdSense.
"Ad Sense works by matching ads to your site based on your content and visitors, and content creators should enable advertising space and ensure it's available on their websites and sign up for the AdSense program to start earning."
Content creators can use affiliate marketing to market their work. Part of the profits go to the creator when a viewer buys something.
"All you have to do is apply for the programs you want to work with, explain why you want to work with them, and how you'll make money doing it," she stated.
There are some popular affiliate programs.
When it comes to brand partnerships, companies typically contact her, but she encourages other entrepreneurs to be more proactive in their search for passive income. Content creators can make a lot of money by posting sponsored posts.
It's important to make sure your media kit is attractive to potential partners.
A virtual "75 hard" challenge and a résumé template that allows users to track their habits for 75 days are two of the products that she sells.
She said that creating and selling virtual or live courses is one way to make more money.
She is a virtual assistant and career coach. Her online courses helped her grow her business to a million dollars.
Corporations and institutions use bonds to raise money. She said that they are a great option for beginners because of their low risk.
When buying a bond, investors have to wait for the value to mature. Some bonds have high interest rates if you are willing to wait.
The stock market can be very complex and that's why it's broken down into two categories.
She said that you should consider your budget, timeline, and risk tolerance when making investment decisions. Some of thecryptocurrencies have plummeted recently.
Passive income can be achieved by purchasing, renting, or selling property. She said that even people without large sums of expendable cash can take part in raising money.
Fundrise and DiversyFund allow people to invest as little as $100 into real-estate properties and earn a percentage of their investment when the property earns money.
She said that if you invest $100, you're not going to make a huge return, but you're still going to make the same percentage as the person that invested $100,000.
eBay is the most cost-effective way to sell stuff. She likes to sell old clothes, coupons in the mail, and finds at garage sales.
Nicholas Waskosky makes five figures selling clothes on the platform.
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