Passive(ish) income: What it is and how to get started

702’s Relebogile Mabotja speaks with Ramokebe Thamage, spokesperson for JustMoney.

Listen below:

Is your full-time job not covering all of your expenses? A 'passive-ish income' might be worth considering.

'Passive-ish income' refers to earning money from minimal effort. It is not completely hands-off, as it may require upfront work and periodic updating.

Ideas for passive-ish income range from creating digital products, affiliate marketing, social media, renting out property or equipment, or investing in stocks.

“You can sell downloadable items like eBooks, design templates, music, photography or online courses… they might require some effort to create in the beginning, but over time you can sell repeatedly with no extra cost.”

– Ramokebe Thamage, JustMoney Spokesperson 

Key tips to get you started:

• Start with your strengths
• Test and improve your offerings over time
• Automation is your friend
• Don’t quit your main income too soon

“Identify what you want to achieve and identify the asset and time that you have, then you’ll know which route to take.”

– Ramokebe Thamage, JustMoney Spokesperson 

Scroll up to the audio player to listen to the discussion.