5 Online Side Hustles To Generate Passive Income in 2023

Having a side hustle is becoming more common and popular in Nigeria particularly amongst the Millenials and Gen Z. With the unfavorable economic climate and raging inflation present in the country, people tend to resort to having other sources of income as a means of making more money while sometimes working a full-time job or part-time job.

A side hustle can be defined as a means to earn extra income. There are many advantages to having a side hustle but the majority of people who have one tend to have a side hustle due to their desire to be less dependent on friends and family financially. Other benefits a side hustle offers include giving one a backup plan, an opportunity to learn something new, extra income and a bunch of other benefits.

In today’s article, I am going to be highlighting 5 side hustles that do not require working from a physical location. These side hustles can be done from anywhere in the world but require having an internet connection and a laptop or mobile device.

1 . Affiliate Marketing: Whether you are a student or an employee, affiliate marketing is a great way to earn passive income. This is a form of marketing that enables one to earn commission by promoting a product or service made by another retailer using an affiliate link. As an affiliate marketer, you can promote a product or service via blog posts or your social media channels and influence people to make a purchase so you can earn your commission. Affiliate marketing is convenient as it does not involve moving from one place to the other. All that is required is your laptop or mobile device and a strong internet connection.

2 . Resume and Business Writing Services: If you have excellent writing skills, another great way to earn a passive income is by helping graduates and job applicants with professional services that include writing CVs, resumes, cover letters etc. Offering a resume and business writing service is an easy and convenient way to earn money on the side. You can work from anywhere in the world and also have clients based in any part of the world. Another plus to offering this kind of service is that it is not expensive to start and is not affected by recession as there are always thousands of job applicants seeking resume writing professionals.

3. Start a blog: Blogging has always been a popular way to earn money and over the years it has proven to be a major source of income for thousands of people across the globe. Starting a blog is easy as there are many blogging sites like Wordpress, substack and medium that allow people to create a blog for free. However, monetizing a blog is challenging and that is why many people don’t resort to it. A blog can be a cool way to earn passive income as it can serve many purposes. Through your blog, you can earn money by writing sponsored posts, selling an ad space, giving reviews of products etc.

4 . Start an online business: This is the most common side hustle in Nigeria presently. Almost everyone sells a product or service offline, online and even both for some extra cash. With the internet making life easy, people start businesses and market their products effectively without having a physical location. If you are someone who is entrepreneurial and interested in making some extra cash, you can consider selling a product or service that’s in high demand.

5 . Online Tutoring: Is there a subject you love and wouldn’t mind teaching for some extra cash? There are many online tutoring platforms that allow individuals to teach different subjects for some cash. These platforms include Compass Tutors, Tuteria, Prep Class etc. If you are enthusiastic about tutoring during your leisure time for some cash, you should check out these platforms.

A side hustle offers a lot of benefits that can be helpful financially as it increases your income and professionally as it helps you hone your already existing skills.

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