If you are not making money while you sleep, you have not arrived. In Kenya, less than 10% of the population makes money while sleeping. These are people who have planned for their future and in case anything bad happens to them and they lose their full-time jobs any time or hour, their life will not be affected as much.
As you continue to do your full-time job, look at ways in which you can earn extra cash such that in case your job ends, you will find something to fall into your pocket.
To make money while sleeping, here is what to do and you should be creative and came up with the following plans;
1. Become a blogger
Blogging is one of the best ways to earn income while sleeping. For as low as Ksh 5, 000, you will launch your blog and make money online.
As a blogger, you will take up to 6 months to start earning money after creating a new blog but afterward, your income will rise significantly. People like Alai earn over Ksh500,000 every month by just blogging. In blogging, once you post enough articles, you will be earning even when asleep.
2. Build rental houses:
Rental houses will generate regular income for you particularly when you have enough of them. The hardest part is to buy land in a strategic place and get capital to build houses on the plot. With just Ksh 1 million, you will build 5 to 6 bedsitters in a town like Nakuru. Those houses will generate over Ksh 40000 every month. When you have such houses, you don’t have to work or struggle. you will be earning money while you sleep.
3. Invest in Unit Trusts:
Another clever way to invest money in Kenya is through Unit Trusts. Insurance companies, banks, and stockbrokers provide opportunities for Kenyans to invest through Unit Trust or the money market. The principal amount is not subjected to any risk but it generates interest daily rest rates range between 12% and 24% per year. The money you earn is deposited into your MPESA account or bank account. You can save as little as Ksh 1,000 per month or any other time you have extra money to save. And this service is available when you have enough money that you can easily start with.
4. Buy shares from profit-making institutions
Profit-making companies like EABL and Safaricom provide you with a chance to earn money daily by investing in their shares. Your only work is to invest and wait for dividends to be paid annually. And those dividends are benefits that you enjoy from the shares provided.
5. Save in Fixed Deposit account:
Fixed Deposit accounts are products offered by banks. A customer can decide to save and withdraw money after 3 months, 6 months, one year, 2 years, etc. The money you deposit into your account earns interest. The more money you save, the more you earn in interest. It is good to risk and earn from these sites.
6. Run a YouTube channel:
The likes of Eve Mungai are earning up to Ksh 1.5 million every month. There are hundreds of Kenyan YouTubers who pocket over Ksh 200,000 every month. Creating a YouTube channel is free but what is needed is to create videos regularly.
Once your channel has enough videos, you will only go to your bank every month and withdraw money credited by AdSense through the earnings from the videos.
To start earning from AdSense, your videos must have over 4,000 hours of watch time, your channel must be at least 12 months old and you should have at least 1,000 subscribers. The videos should also be original and of high quality.
7. Lend money to your peers and small businesses (Earn interest):
Your friends and family members may fall short of money and decide to borrow from you. You can lend them and charge interest of as low as 2%. But you have to lend to people you trust. So that you can avoid the risk of losing money.
8. Do affiliate marketing:
Affiliate marketing is another source of recurring income which you will earn while sleeping. With affiliate marketing, you earn money after selling products, the money is in terms of commission.
Affiliate marketing is done through blogging. Post articles with keywords related to the product you are marketing and insert affiliate links within the posts. Those purchasing the product will determine how much you earn based on their spending habit. A good number of companies pay 25%-40% of the money clients to spend.
10. Invest in bonds:
Investing in bonds is another way a Kenyan will earn money while sleeping. The money does not come instantly, you have to wait for more than 5 years. But the good thing is that your money is somewhere generating interest. When the bonds mature, you will earn good interest.
11. Buy products which appreciate, like land:
You can also buy land in various towns, keep it, and sell it later when it appreciates. By owning land it means you are earning money while asleep. Today 50 by 1piepiecese of land will cost Ksh 500, 000, after two years, you will sell the same for Ksh 2 million, earning a cool profit Of Ksh 1.5 million.
12. Save in Mshwari:
Another way of earning money while asleep is through saving in Mshwari. Those borrowing will generate money for you because Safaricom will use your money to lend to customers—you will share an interest with Safaricom.
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