I welcome everyone to a new week, the festive season is here already and I feel great about it. It is the season of love and happiness, it is a season to give and spread happiness. I believe we are all doing in our might things to put smiles on the face of the people around us and as we do so, happiness will not depart from our lives as well.
Passive Income or side hustle as my fellow Nigerians will say is something you are doing aside from your real job to make more money. The difference between it and your main job are, it doesn't consume your time, it requires less effort, you are in control, etc.
The financial crisis happening globally has forced a lot of people into having multiple streams of income. Our full-time jobs aren't taking care of the bills anymore.
A lot of people's financial situations have gone from bad to worse, it has tangled badly because of the economic meltdown. While people who don't have jobs are complaining that there aren't jobs in the country, those who are working are also complaining that they aren't earning enough to pay their bills.
In the last six months, the price of things have doubled in the country and the salary of workers remains the same, because of this reason a lot of people have adopted one or more side hustle for themselves.
Just recently, a guy who was my colleague a few years ago contacted me and he said, he now sells local fabrics.
I couldn't stop laughing because he was one of those who criticized me for working on weekends as a caterer back then. I don't know what changed for him but at a point in life, we don't need anyone to tell us that we need to do something other than our full-time job. Some people quickly tap into the idea of having a side hustle while some turn it down.
People said to my face that those side hustle are not worth the stress and they were only giving me peanuts. They failed to understand that tiny drops of water will someday become a big body of water.
In my case, one source of income has never been my thing because I have lots of responsibilities. In the past I worked as a caterer, and I made small chops at parties on weekends.
I sold footwear as well, I have an uncle who makes leather palm so I snap pictures, advertise online and I was able to make some money from it but sales wasn't an everyday thing.
I helped people repair their phones as well, I am not an engineer but I have friends in computer village so when I get phones then, I take it to them since the company I work at was situated in Ikeja.
I did all this back then when I had a full-time job but somehow, I found myself not doing them anymore. Losing my job played a part but I found myself doing some other things as a side hustle now.
Regardless of how some people still speak ill about the internet, social media, and cryptocurrency, I will say these things have really had a good impact on me financially. At the moment, I am a fish farmer and it is my full-time job but with the help of the Internet, I earn money aside from selling fish.
Life as a farmer is sweet but there is a challenging side to it as well. I harvest twice a year which means I have to sort my bills after every harvest which is somehow impossible because there are unexpected billings that show up and must be taken care of.
For instance, my last farming season didn't go well but I am glad I got my capital back. I didn't make a profit and I have to use my savings to survive throughout that time. At a point, I had to dig into my savings from the side hustle as well and you can imagine what things will look like for me if I wasn't doing anything aside from fish farming.
Aside from fish farming, I do a few things as a side hustle and I am learning a few things more so I can boost my earnings.
Sales of Mobile Data.
I started this about a year ago and I have enjoyed it a lot not just because of the money made but because it has also helped me meet people who I have learned one or two things from.
I always have a good relationship with my customers and this has been helpful. I sell mobile data of any network at a cheaper rate and I will use this opportunity to advertise my business here.
Crypto and Blogging
I got to know about blogging a long time ago but I didn't take it seriously. I am glad I eventually did because it has helped me survived when I didn't have a job at all. I have achieved a lot with my earnings but I wouldn't want to go deep into that.
Recently, my phone got damaged. I was financially broke and had to rely on my Hive earnings, I would have chosen to get a new phone if the last farming season was good but business is about profit and loss, and we can't expect the same result always.
I would have waited till another harvest to fix my phone if I wasn't blogging, and this should tell you how helpful my side hustle have been.
Aside from writing on blogs, Hive as a platform presents its members with the opportunity to save or stake their coins to earn more even when they aren't doing anything. I got to learn about Leofinance staking and others on the platform recently and I am determined to take advantage of them just like many Hivers are doing. I am learning as much as possible so that I can also enjoy the benefits of staking my coins instead of just leaving them in my wallet.
This would be the coolest side hustle for me, doing nothing and money keeps pumping into my wallet is a big deal for me.
There are lots of legit opportunities out there that we can benefit from but we must be sure of what we are getting into before investing.