AS the cost of living crisis continues to affect households up and down the country, more and more people are looking for alternative ways to earn a living.
But knowing where to get started is the difficult part.
Fear not, one savvy entrepreneur, known on YouTube as ‘Sara Finance’ has taken to the video sharing platform to reveal the five ways she makes income, without having a full-time job.
So if you are fed up with working the 9-5 and need some inspiration, you’ve come to the right place.
Sara uploaded her tip video to YouTube with the caption ‘Passive Income: How I Make $30,000 A Month (5 Ways)’.
Sara has 377k subscribers and revealed the ways she earns a living and how she plans to retire by the time she is 30-years-old.
She explained: “Last month, I made over $30,000 [£26,360] in passive income.
“To cut a long story short, I put the hours in every single day and I was slightly obsessive but I’m going to be revealing everything about how I made this happen.
“Growing up, I always thought you had to work until the day you died.
“This was really sad to me, because thinking about it, I did not want to work forever.
“Like most people do, I wanted complete freedom over my life – I wanted to do what I wanted to do, when I wanted to do it.
“I am still very young and I’m still figuring things out, but I did crack the code and figure out how to make passive income online – that way, I don’t have to work until I retire.
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“One of my biggest goals, by the time I’m 30-years-old, I really hope that I can make enough passive income, that way all of my expenses can be covered and I can retire and do whatever I want.
“Here’s my five streams of passive income that make me over $30,000 income every single month”
The first way that Sara earns her income is through dividends.
She explained: “My first passive income stream that makes me around $800 [£702] every single month is dividends.
“Dividends is a payment you get for investing in certain stocks.
“You aren’t doing anything to earn this money, it is basically passive income.
“The main reason I started investing in dividend stocks is because it’s super simple and I can basically retire off of them.
“My goal is currently to continue putting money in dividend stocks – that way I can get about $2,000 [£1,757] a month, just from dividends, and that can be enough to cover my lifestyle.”
Sara’s second stream of income comes from YouTube.
She continued: “My next stream of passive income is YouTube – this is more of a semi-passive income.
“I have 15 videos and even a video that I made five months ago, I am still making money from it, even though it was a while ago.
“I’ve not posted anything in the last 28 days, but I’m still getting paid by YouTube.
“Some days I’ve made up to $1,200 [£1,054] and since I’m not posting, I’ve made about $600 [£527] a day.
“I’ve not made a video for a month but I’ve still made $24,000 [£21,088].
“Users that make content about finance definitely make a lot of income.”
The third way that Sara makes her money is through dropshipping.
The entrepreneur added: “My next steam of passive income, which is definitely my favourite, is my dropshipping business.
“It’s basically what allowed me to quit my job and do this full-time.
“Last month, my dropshipping business made over $50,000 [£43,935] in sales, which comes to around $18,000 [£15,812] in profit.
“Dropshipping is basically where you create an online store using the Shopify app, you add products from AliExpress on your store – but then you mark up the price drastically.
“Then when a customer buys a product, you send it out directly to your customer and you get to keep the profit.
“I currently have two dropshipping businesses – one that is passive income and one that I have to work on every day.
“The reason one of them is passive income is because I’ve been working on it for over a year so I’ve established its brand on social media platforms and now because a lot of it is done and I have repeat customers, I was actually able to hire two people that run the business full-time.
“This was literally a blessing because I created a business that works for me while I sleep and it makes me quite a bit of money.
“This was really rewarding and I’m so glad that I did this.
“This is why passive income is so important to me because it gives me complete freedom – now I don’t really have to worry about the price tag when I want to buy something.
“It definitely did change my life.”
The fourth way that Sara is able to earn money is through affiliate marketing.
She explained: “My next income stream is affiliate marketing
“This is basically where you market a product that isn’t yours and whenever someone clicks on the link and purchases the product, you get a small commission.
“I make about $10,000 [£8,784] a month from the 11 companies that I work with.
“I put links in my TikTok bio and my YouTube descriptions.
“You can promote these on personal social media or even Reddit threads.”
And finally, it’s a way that Sara hasn’t yet implemented but will very soon – Sara plans to earn money through renting out an old car.
She concluded: “My final stream of passive income that is coming soon, is renting out a car on Turo.
“I’ve not yet started out renting the car but I’m going to start doing it soon and I honestly think this is a great way to make passive income.
“There are so many people out there renting their car and I think I could make about $200-$300 [£175-263] a month from doing this.”
Sara’s video has clearly impressed many, as it has quickly racked up a whopping 1,209,209 views.
It has 1.7k comments and 54k likes.
Many YouTube users appreciated Sara’s tips and were quick to thank her in the comments.
One person said: “You are literally going to help me break generational curses. Thank you so much for sharing this knowledge and information. I’m so happy I found this channel. I knew staying up at 3 am would pay off”.
Another added: “That first minute & a half is so real. I refuse to accept that I have to work myself to death. I’m tired of boring dead end jobs.”
A third commented: “I love this, such a huge motivational video for me. Who says we have to work 9-5 for the rest of our life and pay bills till we die, we can change that by learning to invest properly.”