Income streams that anyone can build and that do not require you to be in a specific place at a specific time. These 8 streams of income have allowed me to be location independent, some have become passive while others are time intensive. *Even passive income takes an upfront investment of time and effort!
Are you interested in learning how to get multiple income streams or how to make passive income online? In today’s video, I will share how I have been able to travel fulltime and continue earning money. I’ll cover the different online and offline income streams and active/passive income strategies I’ve used on how to create multiple income sources. I hope it will give you some ideas on ways you could start earning some side income, or transition to location-independent ways of earning money. These are by no means the best income streams or the easiest to build or the most lucrative, but they can be done by (almost) anyone who is willing to put the time and effort in.
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// VIDEO RESOURCES
Canadian Couch Potato
👉 Free investing advice: https://canadiancouchpotato.com/
I’m Megan, a remote career coach and travel addict sharing knowledge and tools to design your life, your way. Portable Professional is a channel and blog about travel and lifestyle design. Follow along for actionable tips and hacks to travel, live and work from anywhere in the world. Links in this description may be affiliate links. http://bit.ly/PortableProfessional-Youtube
Business inquiries only: firstname.lastname@example.org
– Hi and welcome to the channel. My name is Megan and
since graduating university I’ve been able to build
eight different income streams that pay me monthly
while traveling around the world. None of these income streams require
any formal education or certifications and all of them can be
done anytime, anywhere..
I’m a huge believer
in diversifying your income so you don’t have
all of your eggs in one basket. I hope this video will help
give you some creative ideas so you can start building
multiple income streams today. (music) The first way that I earn money
is as an independent contractor for business clients,
helping them with their marketing.
and partnership strategies. I used to work for
multiple business clients but have since moved down to one,
which is SafetyWing, a company that I absolutely love. I now do about 35 to 40 hours
per week for them in the position of Head
of B2B Partnerships. So, while my status is
as a contractor and not an employee,.
this is essentially a full-time job and what I spend
the majority of my week doing. I’m not going to say
how much I earn from this because, well, who does that? This is by no means a travel job. I do not get paid by SafetyWing to travel nor does my position
require any travel to it. The position is 100% remote
and there are no set hours,.
so I can complete these 35
to 40 hours a week any time that I want from anywhere that I want. It’s this amount of flexibility
that has allowed me to travel and be in different time zones
while still being able to earn an income. I could do my hours nine to five,
Monday to Friday if I wanted to, or I can start them Sunday at 3 a.m..
(music) My second income stream
is through my own coaching business, where I help people find,
apply for, and land remote jobs. Not to build their own business
or to earn an income online but instead to be able to work for
a company where they can work from home without sacrificing salary,
benefits, or career progression..
I started working remotely four years ago
after graduating university and have since then
had all of my positions, full-time, part-time,
or contract positions, be remote. So this has allowed me to do
all the traveling that I’ve done. But even when I’m not traveling, like when I’m home
in my apartment in Ottawa,.
it has saved me so much money
by working remotely in that I don’t have to pay for transit
or car payments or gas work clothes, eating out, and then also a ton of time
because you’re not in rush-hour traffic and you don’t have to go to
the grocery store after work at 5 p.m. when everyone else is there..
I’m obsessed with the benefits
of working remotely, so helping people find these remote jobs
that give them the freedom, the flexibility, but also the stability
of a full-time income is probably the most
fulfilling thing I do. (music) And you probably saw this next one coming. My third stream of income is YouTube..
The way YouTubers earn money
is through YouTube AdSense. And it does not matter how many
subscribers a YouTuber has, AdSense is being paid based
of the number of views a video is getting. So, each YouTuber has
what is called a CPM, and it’s going to vary
from person to person. A CPM basically means how much
you will be paid based on 1,000 views..
A YouTuber’s CPM can range
from 10 cents for 1,000 views to $100 for 1,000 views. With the average being three, $3 per 1,000 views on a video. My personal CPM is $8. So that means that,
if this video gets 1,000 views on it, I will make a whooping grand total of $8. And, if I broke down the amount
of time I spend scripting,.
filming, editing, uploading
a single video each week, I’m probably earning
less than $1 per hour, so… I am not doing YouTube
for the AdSense revenue. The CPM that a YouTuber will earn is going
to be based on the niche that they’re in. So, often, if you’re talking
about topics like finance or credit cards,.
advertisers want to be posting
their advertisements on those channels, so they will be earning
a higher amount per 1,000 views as opposed to someone
that is maybe doing a lifestyle channel. I can increase the amount
that I earn from AdSense, but that would mean putting
more ads on my videos, and then also changing them
from how they are now,.
which are skippable ads, to non-skippable ads. This means I would force you
to watch an entire advertisement – which I would earn more money from – before you could view any of my videos, and I honestly just don’t want
to put you through that. If you’ve been thinking
about starting a YouTube channel.
for the money that you would make from it,
don’t get too discouraged because while YouTube AdSense doesn’t
necessarily make you a millionaire, there are so many other ways
that you can monetize your channel. So for me, personally,
I do YouTube because I love it, but more so than that
is that it’s enabling.
other income streams
I’ll be mentioning soon and then it also has brought me
so many opportunities, paid and unpaid, speaking engagements, and connections with people
that I never would have made otherwise. One of the things
I teach my coaching clients when I’m helping them find remote jobs
is to build a personal brand online..
That can be done through a website
or a YouTube channel, however you want. But just think about it. If a hiring manager for a wine company is
trying to decide between two applicants, and one of them says they’re passionate
about wine on their cover letter and the other one has
an entire blog dedicated to wine,.
who do you think that hiring manager
is going to be more intrigued by? Probably the latter. Also, don’t delay
getting started on YouTube because you feel like you don’t have
the tech that you need. Up until a few months ago
I was filming all of my videos on a webcam from a nine-year-old MacBook
that I got on Craigslist.
or I was filming… on my iPhone, which is a smashed iPhone 5
that I also got on Craigslist three years ago. (music) My fourth income stream, which is heavily enabled by the audience
that I have here on YouTube, is affiliate marketing. Affiliate marketing is promoting
a company’s product or service and then getting a commission
if someone buys based on your referral..
I love affiliate marketing
because it’s a way that you can earn on the products and services
that you would be naturally recommending to your friends, your family,
your viewers anyway. Also, by being an affiliate,
you can often offer people exclusive discounts when they
purchase through your link. For example,.
I mentioned the importance of having some
sort of personal brand or presence online. Probably the easiest way
that you can do this is through a service
that I love, Squarespace, which is a website builder
where someone with zero tech knowledge can have a beautiful portfolio, online resume, or blog
up and running within a matter of hours..
Squarespace is a platform
that I’ll recommend and, as an affiliate for them,
I am able to offer you a 14-day free trial and then 10% off the price if you decide to keep
the website live after that trial period. You will save 10% and get your free trial, and will make a small commission
if you decide to buy,.
and Squarespace will get a sale. It’s a win-win-win, which is why I love affiliate marketing
and never feel sleazy doing it. These are products and services
I would be recommending whether or not I was
getting the commission. Another cool thing is that most companies
have an affiliate program. You can scroll down to the bottom
of their footer section on their website.
and look for something
that is called affiliates or partners, and then you can sign up
to get an affiliate link. So, if there are things that you find
yourself frequently recommending, even if it’s just to friends or to family, see if they have an affiliate program and you could be earning
on each of those recommendations..
(music) My fifth income stream is also related
to having a YouTube channel as well as being
relatively active on Instagram, and that would be sponsorships. Sponsorships are different
from affiliate marketing because it’s when you have
an agreed upon amount to then promote, talk about a certain brand..
So, with Squarespace, I’m an affiliate
but they have not sponsored this video, so they’re not paying me to talk
about them and to promote them. Honestly, I get a lot
of sponsorship requests and I turn down 80 to 90 per cent of them because I don’t want
to spam me with advertisements and then often they’re products
or services that I have never used before,.
or are completely
irrelevant to the channel. I get a lot of requests
from gaming companies to sponsor mentions
on my channel, and I’m, like, “Seriously? Have you even watched my channel? Have I ever even mentioned gaming? Like, how?” So sponsorships represent
a very small portion of my income given that I do not do them often..
However, for most YouTubers that I know, this is how they’re making
the majority of their income. A sponsorship for a 30-second mention
of a product on a channel with… 50,000 subscribers could earn you $2,000, so it’s a very easy way
to make quick money if you do have a large audience. (music) My next stream of income -.
this is in no particular
order, by the way – is on Patreon. So this, again, is related
to having a YouTube channel. Patreon is an online community where viewers can go
and they can pledge $1, $2, $3 a month towards their favorite creators in exchange for some exclusive benefits. On mine, for example, I will send
my patrons super cheesy post cards.
from wherever I am in the world. I also create guides and cheat sheets based on content
that I explain in these videos, and that’s available only to patrons. I will answer direct questions
through direct messaging on there. If you have ever messaged me on Instagram
or email and I haven’t responded, it’s because I do all
of my responding over on Patreon..
I also do giveaways with some of
my favorite products and services, and… Well, I have seven patrons at the moment
so, if you choose to join, your chances of winning are rather high. (music) My next income stream
is something that I have done on and off for the past 10 years, since I was 16, and that is brand ambassador work..
If you’ve ever gone to your coffee shop and there’s someone standing
in a branded uniform handing you a coupon, that is brand ambassador work. I love it because it’s one thing
that gets me away from the computer, out of the house. I meet so many cool people and I’ve had a ton
of awesome opportunities from it,.
all the way from handing out free
ice cream while traveling across Canada to driving sports cars to handing out drinks at hockey games or really cool shows
like Cirque du Soleil. It’s something that I thoroughly
enjoy doing, and it’s so flexible because I can see when a job is available and, if I decide that I want to take it,
I can put my application in..
This is a great way to earn extra money, especially if you’re a university student and you just feel
like getting out and about. Honestly, there are no requirements. You need to have
an upbeat, friendly personality and be willing to learn
about the brand that you’re representing. But just do a quick Google search,.
and the city that you live in, and there’ll probably be a company that represents ambassadors
where you’re living with job opportunities
for you to go after. (music) And then last but not least, my eighth income stream is from investing. And I’m pretty much
going to leave it at that..
I’m not comfortable giving
any advice in investing on this channel. Also, it would probably be
irrelevant to you based on the country that you live in. If you do happen to be in Canada and you’d like to start
learning more about investing, I highly recommend the free website
and free podcast Canadian Couch Potato..
They really break it down
to the simplest form so anyone, regardless
of your starting knowledge level, is able to grasp some of these
concepts around how to get started. This video is certainly not to brag. I spend way too much time
working on my computer and I am obviously not raking in
hundreds of thousands of dollars..
We all start somewhere. Also, everything on this
list has enabled me to live a lifestyle that I love, because none of these things
require me to be at a specific place at a specific time. If you are looking for more ideas, I also did a video on 50 side hustles
that you can start today, and then I’d like to invite you
to the Future of Work conference,.
which is happening online
at the end of the month. There’s a ton of speakers on topics that
range from remote work to digital nomads. There’s a lot that you can learn. I’ll be a speaker at it as well and I have a link in the description
where you can get a ticket for free. As always, thank you for watching..
Let us know in the comments
if you have any additional income streams. Everything that I mentioned in this video
will be linked in the description and, on your way down there, please don’t forget to give
this video a thumbs-up as it really supports the channel. Hope to catch you back here again
for another video next week..