WHO AM I?
If we haven’t yet before - Hey ? I’m Chris; I'm a full-time Husband, Dad, and Entrepreneur. I’ve somehow become a side hustle and credit card guy, and I'm cool with that. Through my videos here on this channel, I am able to help as many as possible break free from 9-5s that most of us don't like.
PS: This video and description may contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows me to continue to make videos like this. Thank you for the support!
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I found nine side hustles to help you make money in 2024
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And while spending hours doing the research, I didn't realize just how easy some of these were
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but there are some that will take a little consistent setup before you start seeing that sweet, sweet cash flow starting to pile up
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Plus, I can guarantee that many on this list you have never heard of before. So let's get into number one
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I used to think that climbing the corporate ladder was the only path to success
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But little did I know that a huge transformation for me was just around the corner
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While I was sitting at my cubicle at my old 9 to 5, just really hating where my life was financially, I started skimming YouTube and stumbled on a business model that I never had heard of, strategic partnership advertising
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So, I mean, I let curiosity get the best of me and I benched on hours worth of information about it
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I jumped head first into the world of marketing, doing everything from watching tutorials to listening to success stories and podcasts
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I literally just absorbed everything. But then I had this major realization that changed my entire
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outlook on life. I learned that I could make my own money outside of a traditional job, and with that
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I was hooked. No longer was success reserved for those who wanted to climb the corporate ladder
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To get started with strategic partnership marketing, I suggest checking out my newsletter called
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Your Extra Paycheck, where I held busy adults make money on the side. It's a resource that I wish I had
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when I first got started, but it's free to you. Plus, there is a free gift in the first email just for you
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Which actually leads us to one of my favorite ways of making money right now, digital newsletters
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Now, before you roll your eyes at me, thinking that newsletters are just, you know, annoying
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you know, filling up your email for no reason. I used to think that as well
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But then something interesting happened. I was listening to one of my favorite podcasts. If you want to know which podcast it was, just ask me down in the comments and I'll let you know
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But there was a guy named Tyler Dank. Tyler was one of the masterminds who helped the newsletter called The Morning Brew gain major traction
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But when I say gain traction, I don't mean just. collecting email addresses. The Morning Brew grew up to about 2.5 million subscribers and was eventually
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sold for $75 million. Wow. And here's the crazy part about this. That wasn't the only one
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There were other newsletters out there that were making just as much money. The TLDR newsletter is
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worth about $10 million. Justin Welsh's newsletter is worth about $2 million. And the superhuman
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AI newsletter is worth about $1.5 million. So sitting at my desk listening to Success Story
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after success story made me realize that I was focusing my efforts in the wrong place
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What some people may see as an irritation in their email boxes could actually be the key to
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unlocking not just wealth, but generational wealth. So I made the shift and started building up my email list to more of a newsletter
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Now, it really doesn't matter which email provider that you use because they're all pretty much the same, but the one that I absolutely love and actively use is called Beehive
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It's free up to 2,500 subscribers, and they also let you send unlimited
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amounts of emails. They do not sponsor this video or anything, but if they wanted to, I mean, I wouldn't be opposed to it
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Hint, hint. But it's just a great service for anyone just getting started wanting to build up an email list
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Next up is private vehicle leasing Now let me ask you a quick question When you at work what is your car doing Is it just sitting out in the parking lot doing absolutely nothing Yeah probably I used to think that owning a car was really the key to true independence If I didn have reliable transportation I actually felt icky right
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If I wanted to leave and go somewhere or if I was stuck at a party when I was younger
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I could leave without having to ask anyone's permission. But then something changed and I realized that I had it completely wrong
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I was reading a book called Rich Dad Poor Dad, and I learned something that was, to me
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like completely revolutionary. The difference between an asset and a liability. So to be quick about it, an asset puts money into your pocket while a liability takes money
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out of your pocket. So after reading the book and learning that concept, I was laser focused on turning everything
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that I had from liabilities to assets, which included my home and cars
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Now, as great as owning a home and cars are, they are expenses or liabilities
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And I needed to flip that. I needed to find a way to earn money from them, and that's when I stumbled upon a service called Turo
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Turo is like the Airbnb for cars. So instead of going to a rental car agency, people like you and me can rent out our cars to people who need them without all of the headache
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It's still risky to do because you're letting someone else use your car, but Turo does offer insurance up to $750,000, and there is nothing wrong with buying a car or two that you would use exclusively for private vehicle leasing
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And that is the secret. That is how you create cash flow
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Say it with me, cash flow. In fact, type cash flow down in the comments if you're picking up what I'm putting down
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All right, on to the next one. What if I told you that one of the best passive income strategies that even a five-year-old can do
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is becoming part owners with some of the world's most successful companies
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Well, it's true and it's called broad market investing. Now, this isn't just regular investing into the stock market
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It's different. So let me show you how. I remember sitting at my desk at my old nine to five years ago
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and fear struck me out of nowhere. I had an immediate thought that what would happen if I got hurt and I couldn't work
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Like if I got in a car accident and broke my leg and I couldn't get the work every day. I never really cared about that before, but then this next quote changed my way of thinking
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It's Grant Cardone when he said, never rely on one flow of income
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And that's exactly what I was doing with my job. I only had one revenue stream
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Well, investing in individual stocks is kind of the same thing. You're depending on one source of revenue
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Sure, you could buy Tesla and hope that it skyrockets like it did in 2020 and 2021
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but those shots in the dark are pretty few and far between, and if the stock were to tank, you're going to lose it all
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Now, check out what the better way to do this is. Invest in hundreds of stocks at the exact same time by investing in a broad market index fund
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My favorites are pretty much any Fidelity or Schwab or Vanguard ETF
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Now, this type of investing, I'm going to be honest, it's not exciting, all right
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but it will get exciting when you see your portfolio consistently grow over time
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Just invest consistently doing what's called dollar cost averaging and just watch your piggy bank
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just grow and grow and grow. Now this next one is a hidden gem that gets kind of lost in the shuffle, but I'm going
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to blow the lid right off. And it's called elevated return savings
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Now this one is quite simple. It's probably the most passive on this entire list, but the money that's sitting in your bank
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account is doing absolutely nothing Even if it as little as or so if it sitting in your bank account for over a year it losing money over time So check this out According to bankrate the average savings account pays 0 APY on savings accounts meaning if you had that same sitting there for a year that 0 APY on that would get you just get this 45 cents per month
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That is insane and ridiculous. But here is the key to hacking this so that the money that you already have can make you more money
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You just need to elevate the return of your savings by using what's called a high yield savings account
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This one is truly passive income because you don't have to do anything to earn the money
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My favorite high yield savings accounts include Ally Bank, which pays 4.35%, Sint Bank, which pays 5.05%
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and SOFI, which pays 4.6, and also includes a $300 bonus just for opening an account there
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These take probably 10 minutes or so to set up, and it's instantly making you more money faster than if it was just sitting into a local credit union or something
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Now, when times get tough and money is just not flowing the way that we want sometimes, we have to make decisions, difficult decisions, about paying certain bills and maybe skipping on other ones
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I remember having a crazy life bill that was like $700 during the summer because we ran the air condition way too much
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And I swear that air condition drank more electricity than a college student on open bar night
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I wasn't expecting that size of a bill for the house. So I skipped paying some other bills so that I could pay and make room for that big $700
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But here's the kicker and the point of this story. I skip some bills in order to pay that one big one
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But you know one bill I would never skip and would always pay? Yeah, my mortgage
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For the most part, people will skip every other bill that they have, but will always make it a priority to pay their mortgage or their rent
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But now let's put ourselves on the other side of the coin. If I own a house and I rent it to somebody, I will always feel good to know
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know that they will prioritize paying me, the landlord, over other bills, which is great
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As long as you are charging more money with the rent than it is to actually pay the mortgage
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then you can cash flow. There's that word again. But you can cash flow to property, meaning that you are making more than you're spending
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But there is one big issue with this passive income idea, though. Owning a rental property does require an investment of time and money
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But once you save for the down payment and you can even get a property manager, it's about as
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hands off as you can get. The next passive income idea is creating a video content hub. Okay, so do this
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little exercise with me. Imagine one of those old school Cadillac spoke rims. I'll put one on
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the screen just so that you know what I'm talking about. But there is literally hundreds of spokes
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all meeting in the middle. No matter which spoke that you decide to focus on, your eyes will
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eventually make it right there back to the middle of that rim. That is what you are doing with a video
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content hub. The first video that you make is the one that will make you the most amount of money
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For example, I have a friend who is an accountant and he created a video content hub
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But here's the kicker. I noticed that the very first video that he created was one that basically was a huge
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advertisement to buy his accounting spreadsheets, templates, and services. But then he made other videos on how to balance a checkbook, how to save on taxes
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and how to find a good accountant stuff like that But while I watched his videos in every one of them he mentioned that I should go watch the first video that was selling his products So do you get the idea This is a very effective strategy because just like those rims I showed you earlier every video leads to the center
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The reason this works is because people do not always know what they're looking for when they have a problem
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They just know that they have a problem and they wanted solved yesterday. So when I find a video that seems like it's going to help me and the person in the video seems trustworthy and they know their stuff and they suggest something for me to
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to buy to get me out of my jam, I'm probably going to buy it. This strategy becomes more and more passive over time because you're creating these videos
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and making little copies of yourself, promoting your services in video form when you're not around
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This strategy can work on YouTube, TikTok, Instagram, basically anywhere where you can post a video
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and we'll continue to work for whatever social media replaces the ones that are our favorites today
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The next passive income strategy is website investing. Now, two years ago, I was sitting in my office trying to figure out what to do with the
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$2,500 that I'm going to do with the $2,500. I had just burning a hole in my pocket. I wanted to invest in something but didn't know the right place to do it
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But then something hit me like a ton of bricks. One thing that I had done to make money for a long time was flipping websites where I would
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buy a website struggling to make some income. So I found an old golf site where the previous owner had pretty much abandoned the entire
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project and wasn't making any updates. Much like a distressed real estate property, I could see what the site needed
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So I bought the site for pretty much pennies on the dollar from the owner
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I knocked out a wall, added a bathroom, replaced the flooring, and boom, the site went from making just $100 a month to over $500 per month pretty consistently over the course of about eight months
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But check out what was really awesome about this investment. I only worked on the site about one to two hours a month after their major renovations and improvements have been done
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Now, even though this is a great business model, there definitely is a skill to this
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But once you learn it, it's a great way to build a cash flowing asset out of someone else's work
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eventually sold that site for a five-figure payday and on top of all of the revenue that I was
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already making with it month over month. All right, let me ask you a quick question. Have you ever
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heard of a show called Shark Tank? I absolutely love that show. I think it's amazing. But for those
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of you who have never heard of it before, it's a show where business owners look to get investors
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for their particular businesses. But there is one thing that the show teaches that not a lot of
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people completely get the first time around. You see, I'm not watching it for the entrepreneur
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doing the pitching. I'm watching it to be one of the sharks. They understand something that
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took me a long time to understand the difference between being a business owner and an investor
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The sharks like Mark Cuban, Lori Greiner, and Damon John, they are not trying to buy into
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businesses that require them a lot of hard work. They are interested in businesses that are
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already running burning hot. They just want to swoop in, add a couple logs to the fire
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and get it blazing. And that is what our next passive income strategy is, Angel Investing
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Angel investing is when you invest in a company in exchange for part ownership of that company
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But the idea is that you don't have to run that company. You can just sit back and be an investor and maybe chime in every now and then when a question arises and they need your expertise
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And just like with any passive income stream, I would focus on one, build it up, and then move on to the next
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Which is why you should check out this video where I explain how my new favorite income source is going to make me at least $100,000 this year
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I believe in you. It's about time that you believe in you. Take care
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