In this blog post I will share my multiple income streams, how much I roughly make from them and a little bit about the work I have to do to achieve that.
However, a couple of things to note before we get started.
- Don’t expect this to be your typical 6 figure income stream post. I do not make 6 figures in my businesses (yet), I simply make an honest living in a very diverse and somewhat safe way.
- This is not to brag in any way, shape or form. This is purely there for education and inspirational purposes.
Amazon FBA & eBay Reselling
Starting off with my number 1 stream of income that brings me anything between £1500 and £2500 in net profit every single month. If you don’t know what Amazon FBA is, I highly suggest checking out my YouTube channel where you will find over 100 videos of me talking about everything there is to know.
I spend around 25 hours a week working on this business. This consists of me looking for products to resell, listing, posting and the odd piece of admin here and there.
In my opinion, literally anybody can start flipping new and used products on eBay and Amazon, so if you’re currently only on 1 stream of income and you want that “safety stream”, then look no further.
For those that don’t know what affiliate marketing is, it’s basically the process of recommending a companies product or service to a consumer at no extra cost and then if that person was to then make a purchase, you will receive a chunk of that sale.
When it comes to how I make money from this, it’s extremely varied. I make money from my YouTube channel where I suggest different tools that I enjoy using. I also do the same but in written form on this blog that you’re reading right now and I also make commissions from my old web design business, where I suggest hosting services to my old clients.
Overall this brings in around £500 to £1000 a month and takes up around 15 hours of my time each week.
Top Tip : If you’re going to promote products to earn an affiliate income, make sure you are personally using or testing that product. It makes the process so much easier when you know what you’re talking about!
My property rental income stream is very straight forward and doesn’t need to much explaining. In 2017, I purchased a city centre apartment for £230,000 that I rent out for £1,140 a month. After service and mortgage fees, this brings me in a net profit of £650 every single month and takes me no more than 1 hours work to complete.
Property is a really good way to earn passive income but it does require a high amount of start up capital so if you have that, great! If not, it may be worth looking at building other streams up before you look at this. With me, I was in a fortunate position with my day job and my monthly salary made this purchase possible so I decided to take the shot and it’s working out well so far.
Starting and growing a YouTube channel has been by far one of my most fun and rewarding projects to date. If you are looking to do the same, you have to enjoy it because it will take some time to get going and it wasn’t until the 12 month mark where I actually starting earning money from it.
The good thing about YouTube is that there are so many ways to monetise your channel. You have the YouTube Ad Revenue Programme, Affiliate Links, Sponsored Videos and Paid Collaborations.
The bad thing about it is that it does take a long time. You have to plan, film,edit and release videos which can sometimes take up to 30 hours to complete the entire process.
On average I make around £450 a month from YouTube and it takes me anywhere between 10 and 50 hours every week depending on the video I am filming.
Another way I make a small income online is through Information Products. This could be an online video course, 1-2-1 coaching or things such as E-Books which is where my products sit.
I have a E-Book that is £9.99 which teaches you how to sell on Amazon FBA and I make around £300 from it’s sales alongside the odd Skype Coaching Call.
Next up is my Web Design business that is actually closed now, but I still make the odd bits of income from it during quiet times.
If you are into your tech and designing websites is your thing, then this could potentially be a really good income going forward with more and more companies moving online in 2020 and beyond.
For me personally, I would rather put my focus on my other income streams so I only make around £150 a month from this business but that is just my opinion.
When it come to all of my income streams, receiving money from my Stock Dividends is my lowest by a long shot. However, with the long term investing mindset that I have, it could potentially be the biggest in 10/20 years.
I invest into companies like Apple and Coca Cola which are both dividend paying stocks alongside investing monthly into my 2 index funds that also both pay a quarterly dividend.
Currently I only earn around £30 a month from these payouts and it takes me 0 hours of work each week.
I hope you found some value from this article and maybe it has inspired you to start one of the income streams that I have just mentioned. I think it’s really important to stay diverse when it comes to your business because the world is full of ups, downs and the odd surprise here and there, so having a wide range of methods to earn money will always see you good in the long run.
I would be really interested in hearing about the different income streams you have so make sure you leave me a comment down below.