Generating some good passive income is what many peoples want in the present time. You can also generate a well amount of passive income in Nepal and Globally. Having a stable and steady 9-5 work, and an attractive income is like icing on the cake. But what if you could earn more without burning yourself out?
In the present time, a single income may not help you to sustain decently. It is crucial to have multiple sources of income for sustainability. But it is burdensome to invest your time and effort in every direction.
That is why engaging yourself in generating passive income is paramount. It lays out additional revenue with less endeavor and time. In this article, we will tell you five ways to generate passive income in Nepal.
Here are the best 5 ways to generate passive income in Nepal.
1) SELL PRINTED T-SHIRTS
Fashion and trends come and go. But what never goes out of vogue is cute, funky, adorable T-shirts. Yes, you heard it right. T-shirt printing is a considerable source of passive income you can indulge yourself in.
It neither costs a lot nor is time-consuming. However, you need to be creative enough to meet up the demand of your audience.
For example: If you are into anime, then you must be aware of the new trends and designs that will make your T-shirts noticeable in the market. Repeating designs will not put you in any place.
If you are someone who is creative and likes trends then this is for you.
2) CREATE AN ONLINE COURSE
If you are passionate about any skill that you have honed perfectly, then you may consider teaching. Especially through online mediums. You can either collaborate with sites such as glocal, suitable, etc which are the online course providing sites in Nepal, sell your course on your own. ( https://glocalnepal.com/) ( https://sikable.com/)
The situation of internet use has skyrocketed in Nepal especially after COVID-19. During and after the pandemic (https://english.onlinekhabar.com/nepals-91-of-the-population-have-access-to-the-internet-regulator.html#:~:text=As%20per%20the%20data%20of,%2DMarch%20to%20mid%2DApril)
Whether it’s school, college or even work everyone indulges on the internet, and according to reports, 90% of the total population have access to the internet. In such a scenario it is a significant chance to make your passion a source of income.
3) PLAY WITH STOCKS
The stock market is another great place for earning passive income. If you are looking for ways to invest and earn decently then investing is the best way to go.
The bright side of buying stock is when you buy/get stock of a firm you receive payment at a regular interval. And all you need to do is buy stock. There is no need to perform a lot of activities while buying stock. All you need is knowledge on investment in stock, and the money shall get deposited in your account.
Despite economic turbulence brought in pandemic times, the share market has blown tremendously. Also, there are different stock trading apps & websites which make a way easier for buying and selling your stocks.
According to sources, the number of registered mero share market has increased from 7 lakh to 26 lakh, and Demat account to 36 lakh. (https://www.recordnepal.com/why-nepals-stock-market-is-booming-amidst-a-pandemic)
It shows that people are aware of the benefits that guide through investing in the share market.
YOU MAY ALSO LIKE TO READ 10 Best Stock Market Books In 2021.
4) STARTING YOUR YOUTUBE CHANNEL
With the growing digital era, the demand for content creators is rising. Everything is a click away, and the needs of the audience keep on changing with time. While most prefer video content, few people like to read. So depending upon the niche of your audience you can start either of them.
Whether you like traveling, discovering new foods, crafts. Find a niche audience either through your writing or videos. A great idea of passive income, don’t you think?
But before that, you need to find content that is unique and attractive enough to build your audience. It may take some time but remember consistency is the key.
An advantage of this is you do not need to invest financially at the initial stage. You can take your time before you know what you want to create.
YOU MAY ALSO LIKE TO READ How to Become a Successful YouTuber in Nepal?
5) BUILD A WEBSITE
Building a website is the first step for your business to create an impactful visual appearance. Whether you are a small-scale business or a big industry, your website is the face of your business.
You can either create websites for other businesses or create your website and work on it. It is the best way for beginners to earn through monetizing.
Whether you want to start your digital marketing, create SEO-friendly tools, or teach online classes. You can commence all of it through your site.
At last, earning money through passive income can be difficult, but it’s not quite impossible. In the world of today like every successful person have a way to generate passive income which helps them to engage in other ideas & work too.
Even if the business you started is small giving your little time every day helps you to go along with your 9 to 5 job too.