If you’re reading this, chances are – you’re already receiving a salary or an income. But with inflation rising so high, and the hard state of the country right now, we can understand why growing your passive income seems so attractive right now – the truth is, we all want more money 😂. But doing this in a safe and responsible way is the only sensible way to go.
So, we’re going to help you out. 😊 Take a look at these effective ways to get money today:
There are multiple investments you can make based on your risk appetite. Using your money to get you more money is a great habit to build, but even with investment, it must be done in a responsible manner.
- Fixed Income: Fixed income investments are instruments or products that give you fixed and high returns on your money for a certain time period – Our Fixed Savings gives you up to 18% p.a., and the minimum investment amount is ₦1K.
- Stocks: This carries more risk, so be careful before you jump in. A stock is an equity that represents the ownership of a fraction of the issuing business. These stocks or shares are issued on the stock exchange and can appreciate or depreciate in value. They can also be traded to make money off predicted price changes. Remember, before you go into stocks, make sure you have the necessary appetite and knowledge for a high-risk investment
- Real Estate: Real estate can be considered as property that includes land and anything permanently attached to it or built on it. Investing in real estate is a very profitable investment for the long term, as the prices of homes always rise over time. It’s generally considered expensive to invest in Real Estate, but there are some more affordable products that let you buy shares in properties; so look out, and be aware of cases of fraud, as they are also prevalent in real estate investing.
Starting a side hustle is another advisable way to make money. You don’t need to be a full-time business owner to make money off a skill you already have or can build.
You can turn your hobby or passion into a profitable online business. Research online on how to start your side gig, and start small initially to gain some extra income. You can offer services or sell products through social media platforms, online marketplaces, or your own website. With the increasing popularity of e-commerce, online businesses can be an excellent source of extra income. Just remember to analyze the potential returns and risks to know if it’s worth your time.
The key in seeking money-making ventures is to first make sure it’s legit so that you don’t get in trouble, and analyze potential returns and risks to know if it’s worth your time.