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Preparing for 2024: 8 Extra Streams of Income To Consider For Financial Growth

Life in Nigeria is all fun and cruise until sapa hits hard. Whether you are trying to pay off debts, or simply just hit some financial goals, one solution stands out—earning extra income. 

In this blog post, we’ll explain and guide you through how to generate extra streams of income as a young Nigerian. 

How To Earn Extra Income 

  1. Freelancing: If you have a skill to offer, there is no reason why you shouldn’t be into freelancing in 2023. Whether you’re a writer, graphic designer, web developer, or digital marketer, platforms like Upwork, Fiverr, and Freelancer can help you land paid gigs. Start small, build a portfolio, and watch your freelance income grow.

Also read: 5 Best Platforms For Nigerians To Land Remote Jobs in 2023

  1. Online Tutoring: If you are a pro at a particular subject or skill, you should consider becoming an online tutor. Websites like Teachable, Udemy, and Coursera allow you to create and sell courses in your area of expertise. Nigerians are passionate about learning and if you really know your stuff, you will be running a lucrative online teaching business in no time. 

Also read: Top Online Earning Websites For Anyone With A Mobile Phone

  1. E-commerce:  Start an online business by selling products or services. Platforms like Jumia 

and Konga offer opportunities to set up an e-commerce store and reach a wide audience. 

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  1. Affiliate Marketing: If you’re active on social media or have a blog, affiliate marketing can be a game-changer. Promote products or services through affiliate links and earn a commission for each sale generated through your referral. Companies like Amazon and Jumia offer affiliate programs.

Also read: 10 Online Jobs to Earn Money as A Student 

  1. Content Creation: All the cool kids are into content creation now and if you are comfortable being a public figure, you should be too. Platforms like YouTube and Instagram offer monetization options once you’ve built a sizable following. You can earn through ad revenue, sponsorships, and product promotions.
  2. Stock Photography: If you’re a photography expert, consider selling your photos on stock photography websites like Shutterstock and Adobe Stock
  3. Online Surveys and Market Research: Participate in online surveys and market research studies on platforms like Swagbucks and Vindale Research. While the pay may be small, they can add up over time.

Also read: Tech-savvy and job hunting? Check out these hot career opportunities in information technology

  1. Virtual Assistance: Offer virtual assistance services to businesses and entrepreneurs. Your tasks will mostly include email management, data entry, social media management, and customer support.

Tips for Success

– Time Management: Find a balance between your side gigs and your day job or responsibilities. 

– Continuous Learning: Invest in self-improvement and learn new skills to improve your income-earning power.

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– Financial Planning: Spend your extra income wisely. Having a side gig is not an excuse to spend impulsively. 

– Networking: Build a network within the field you work to discover more opportunities and learn from others.

Earning extra income is a necessity for everybody who wants to gain financial freedom. Nobody has ever gotten rich with only one source of income. So whether want to start freelancing or you want to start an online business, these extra streams of income can be stepping stones toward a financially free future.

Margaret Aladeselu

Margaret is your go-to girl for everything content marketing - from email marketing to social media marketing! If you've got a brilliant idea floating in your mind, that's all she needs to whip up some seriously engaging content that's bound to rake in sales and ignite a fire of excitement among your audience.

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