If you want to earn money very fast then you are in the right place, today I’m going to show you 7 proven money-making ideas for youngsters.
There was a time that I was flippin’ burgers at McDonald’s, making a minimum wage, that I don’t think I ever expected to make multiple sources of income.
Heck, I barely made enough to buy my own lunch while I was on shift. But now I can proudly
say that I have seven multiple streams of income, they get deposited into my bank account every single month.
Today I wanna highlight what those 7 sources of income are, how you can get started yourself, and one of the biggest dangers to watch out for.
For me, it all started when I read Robert Kiyosaki’s book Rich Dad Poor Dad, and if you haven’t read that book yet, I strongly suggest you pick it up.
So in Robert’s book, he talks about his dad who worked for the government, had a nice, safe, state job, and then he had his friend’s dad, who was the entrepreneur-investor.
And in that book, he shared his cash flow quadrant. On the left side, you had employees and the self-employed, on the right side you had business owners, and then investors.
Now when I was at McDonald’s I was an employee and a poorly-paid employee at that. When I read that book, I realized I needed to get to the right side of that quadrant.
This is the best-proven money making idea for youngsters by which they can earn money fast.
I wanted to become a business owner, I wanted to become an investor. But when I read this the book, I was kinda young.
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I was in my early 20’s and I really didn’t know what that meant, I had a decent job, but I was still on the left side as an employee.
So one of the dangers, and especially in that book, because he does talk about this, is we want to get on that right side of the quadrant, and one of the opportunities that exist all the time is multi-level marketing.
In this way, you can easily make money online and the youngsters can earn money very fast.
Top 7 Proven Money Making Ideas
1. Multi-level marketing:
Now most likely, you’ve been approached by a friend, a friend of a friend, or got a Facebook message request about some sort of party that they’re offering.
Now, I’m not saying that all multi-level marketing is bad, but it is marketed as an easy
way to become an investor takes little upfront capital.
Maybe 100 bucks, 500 bucks, and now, you become a business owner, and you become an investor.
Now I’m sure there are people that are making really good money off multi-level marketing, but at least in my experience, not only did I get burned on not one, but two different multi-level marketing businesses.
But I’ve seen a lot of other people ruined, not just financially but just friendships ruined because they’re always pitchin’ their product.
In this way, you can easily make money online and the youngsters can earn money very fast.
So if you’re looking for a shortcut to go from the left side of that quadrant to the right side,
please avoid multi-level marketing.
So for me, when I realized that I wanted to have more than one stream of income, to have multiple streams of income, you gotta have at least one income to start.
So this can be your job, and for me, my main source of income, starting a career, was me becoming a financial advisor. And that was my main thing. If you want some more information about how to earn money from affiliate marketing then come here.
2. Financial Advisor:
When I was an advisor, that’s when I looked to multi-level marketing, and, wasted a lotta time, wasted lotta money, and it went nowhere.
And I realized I started pulling myself away from what I was really good at. So when I realized that it was pulled in’ me away from the thing that I was good at, being a financial advisor.
I started reinvesting back my time and energy into growing my practice, getting new clients, marketing myself, and just getting myself out there, to where I could grow my business.
And what I learned is when you start focusing that time and growing that business, or growing whatever that income source.
Is that you gain valuable experience, you gain valuable connections that you can use later on in life. This is the best-proven money making ideas for youngsters by which they can earn money fast.
So as my financial advisor business continued to grow, that’s when I started looking at adopting another source of secondary income, and for me, that ended up being in my blog, goodfinancialcents.com.
So I launched this thing back in July of 2008, and I didn’t know anything about blogging, I launched it because I wanted to market me more, get more clients, build my business.
What I didn’t realize, was that the blog ended up becoming its own separate income source. And lemme tell you, that blew me away.
In this way, you can easily make money online and the youngsters can earn money very fast.
3. Monetizing a blog:
I had no idea you could make money from blogging. But I was able to make some really good connections with other personal finance bloggers, that was making a killing from their blogs.
And when they shared their numbers, that they were making 10 thousand, 20 thousand,
40 thousand dollars a month, from their websites, I was blown away.
So when I realized that the blog could become a secondary income source, I started doing a lot of research, starting to figure out ways that I can monetize it.
Sure enough, within a few short months, I was able to make my first $100 from my blog. Now I know $100 is not lotta money, it was for me at the time, maybe it is for you right now.
But for me, it was just a sign of a lot of great things to come because I’d never made any money from a website, online, so to make $100, which was a check I could cash, and take to the bank, I was excited.
And the cool thing is that $100 continued to grow. It went from 100 to 500, to 1000, to 2000, to 3000, to 4000, to 5000, and this was over the course of about a year and a half to two years.
So if $100 a month wouldn’t make a difference in your life, would a thousand dollars a month,
would five thousand dollars a month? I know that it did for me and my family.
Now I can proudly say that my blog makes over six figures every single month, which still blows my mind.
I know it’s funny because any time that I tell somebody or share with somebody that I make money from my blog, they’re just as blown away as I am, I know that I wouldn’t have
believed me five years ago.
If I told my old self how much I was making now. And then they always ask, “Well, how do you make money from your blog?”
Well, right now we have a variety of different ways that we make money from the blog. So even within the blog, we have multiple income sources. In this way, you can easily make money online and the youngsters can earn money very fast.
We get paid through banner ads, we get paid through ads that people click on, we have affiliate relationships, we get paid by brands and other sponsors to write sponsored content.
There are so many different ways that you can make money from a blog. The one I’ve shared just from me, from my blog personally, that’s just a small selection of what’s out there.
There are a ton of other blogs in completely different niches, that are making a killing in a variety of different ways.
If you have an interest in trying to make your first $1,000 from your blog.
Check out my free email challenge. Go to make1k challeng.com, and we have a free email series that will show you how to get your blog started, and a behind-the-scenes look of how I made my first $1,000 from my blog.
Once again you can check that out at make1kchallenge.com. So as my blog continued to
grow, I started realizing that I could create other sites, also bring in other revenue.
So with that, I created a life insurance site, lifeinsurancebyjeff.com.
Now, this site is been, it’s been fun to create because I spent about six months, maybe nine months, creating all the content that you see there.
Now on that site, you’ll see tons of articles, we have a podcast, we have videos, so there’s a lot of work that went into creating it, but I haven’t changed anything on that site, personally,
in the last year.
I have a writer that will go in and edit some of the content here and there, but for me personally. This is the best-proven money making idea for youngsters by which they can earn money fast.
I haven’t touched that site in over a year, or maybe even two, and that site yields over $100,000 a year, just from that site.
And we make revenue either from life insurance sales, or we sell leads to other life insurance agents that are wanting to work those leads, trying to make a life insurance sale for their clients.
But here’s the thing that I realized by creating that site. If that was the first thing that I created, that life insurance site.
It would’ve been very hard to get a lot of the quality content that I have, it’d been very hard to get backlinks from other websites,
To give it more authority so that it’s found whenever you go to Google and type in certain terms for life insurance.
If I didn’t already have goodfinancialcents.com, I know that I wouldn’t have had the success that I’ve had with that site.
Cause I already had built a brand, an online reputation with Good Financial Cents, that allowed me to transfer some of that over to that life insurance site.
So with that, that site continues to thrive, continues to bring in a nice stream of income, and as I said, I spent literally zero time on it.
4. Investing:
Alright, so my fourth stream of income is more your traditional, this comes to investing. Right now when I invest, I have a variety of different things.
I have mutual funds, I have ETFs, I have individual stocks, I also invest in peer-to-peer lenders, like Lending Club, and Prosper.
Now, I probably get a better return on my investment through my businesses and through my websites, but I’m a firm believer in having diversification.
I don’t wanna put everything into one place. So maybe the returns aren’t as great, so I have it just in case one of my other businesses doesn’t quite work out.
This is the best-proven money making idea for youngsters by which they can earn money fast.
Now thankfully, that hasn’t happened yet. So with my investments, I have a 401k that I’ve set up for my business. I also have Roth IRAs, to take advantage of that tax-free money.
I have some traditional IRAs, and we have a taxable joint account. Since I’m a financial planner, I’m always gonna have your traditional investments.
I’m always gonna have some mutual funds and ETFs. I think it’s important to have, but I’m also very excited to invest in those businesses as well.
3. Real Estate:
The other source of income I have is through real estate. Now, this represents a smaller
portion of my portfolio, but it’s something that I’m looking to expand.
Now, you can check out another blog post where I wrote how I almost failed at real estate investing.
So I dabbled into real estate investing, as in becoming my own landlord. I read a lotta book, I listened to some podcasts, I had an audio book, an audio cd course I listened to, and I was all ready to go, to buy as many real estate properties as I could.
But I quickly realized I had no idea what I was doing. Now thankfully, I didn’t lose my butt too bad, actually, I don’t think I lost anything, I almost did, on a duplex I thought was a great investment.
But I quickly realized I was in over my head, and I almost lost my butt. Thankfully I didn’t. So now how I invest into real estate is through real estate notes.
So I have a local investor who is a real estate pro, and he will buy these real estate properties.
So basically I give him the money, and then he pays me an interest rate, kinda like a loan, on that real estate investment.
Now, if something were to happen, and the note was the default, then I get that property, so I don’t have any risk in that regards.
What I like about that for me is that I don’t actually have to manage the property, I don’t have to go on-site and make sure the property is taken care of. In this way, you can easily make money online and the youngsters can earn money very fast.
I don’t have to make sure that renter is paying their monthly rent, that’s stuff that I don’t have time for and have no interest in, so for me, real estate notes have been very attractive, because I can sit back and collect the interest.
6. Media Deals And Brand Sponsorships:
Alright so the sixth way that I’m able to make an income source is through media deals and brand sponsorships, and once again, this is something that I never even imagined.
So when I started my blog, I didn’t think that I would be contacted by advertisers or Fortune 500 companies to represent their brand.
This is the best-proven money making idea for youngsters by which they can earn money fast.
So when you put yourself out there and do videos for YouTube, you would be amazed at who will discover you. Jeff Rose brand deals, take one.
I’ve had the privilege of working with companies like State Farm, John Hancock, Time, Money.com, Discover, all because of my blog, and all because of putting myself out there, and building an online brand.
And with these deals, they pay very well, five figures, sometimes even up to six figures, all for representing a brand that you believe in.
And I’m sure you know that I’m not the only one working with brands, I’m sure you’ve seen celebrities or other influencers.
That are promoting products on Instagram, Snapchat, Facebook, all on social media, putting those brands and products out there.
Brands are always looking for media influencers to represent them, so if you have interest in this, just work on building your online brand, and who knows? A big company might call.
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7. Creating Your Own Products:
Alright, the last income source and I’m putting a lot of time and energy in, going forward, is creating my own products.
Creating my own digital products, specifically, courses. I launched my first course just over two years ago, and this is something that I procrastinated on.
I created every excuse in the book for not to create this course, and thankfully I had some good friends that really pushed me to get it out there.
The first course that I created was called The Online Advisor Growth Formula, and this is a course that shows other financial advisors on how to use online marketing to grow their businesses.
And basically, all I did was I taught them, what I did, all the things that I did right, and most importantly, all the things to avoid, all the mistakes that I made.
When I launched this course, after the first year I made over six figures from this course,
just by sharing my experience, just by sharing the information that I had.
And that’s why I’m so excited about this going forward, because I have so many other course ideas, that I’m going to create, that I wanna create.
This is the best-proven money making idea for youngsters by which they can earn money fast.
I gotta have some more time for this. But here’s the cool thing: as I create more of these courses.
Conclusion:
As the revenue from these courses increases, I still have the revenue, I still have the income coming in, from the other six sources I shared earlier. And that’s the beauty of having multiple income sources.
It’s funny I dunno if you ever watch Shark Tank, you’ll see these entrepreneurs.
You read entrepreneur.com and you’ll see these entrepreneurs that are making money from all these different businesses and I always wondered how do they do it?
How do they build all these different businesses, and manage all that at one time? And now, I get it, I can see it, but it all starts with, you gotta find that one.
What’s that first income source, what’s that first thing that you’re gonna pour your heart and soul into?
And once you build that up to where you have a solid foundation, to where you have systems and processes that allow you to explore other opportunities.
That’s the first step that you have to knock out before you can get to that second income source. This is the best-proven money making idea for youngsters by which they can earn money fast.
Too many of us wanna jump forward, and start creating multiple income sources, and I know, I was guilty of that in the beginning.
And had I continued down that path, I wouldn’t be here today. To find out, what is that one income source that you need to create?
And if you have a job that you know that you’re not happy with, what is a side hustle that you can start doing? Is it a blog, is its YouTube videos, is it Etsy, is it selling some sort of digital product?
There are so many different options out there, the key is figuring out what is that first one that you wanna try, and go for it.
And if you fail, if it doesn’t work out, don’t let that failure define you. Get back up there and do it again.
Alright, so I wanna hear from you, if you have multiple income sources, share what those are in the comments below.
I want the GFC community to know how you’re making multiple income sources.
How you plan on making multiple income sources, because if you can do it, I can do it, and everybody can do it.
Let’s just help them make it happen. This is Jeff Rose from Good Financial Cents, take care.
And in that book, he shared his cash flow caught, poorly paid employee, I know that I wouldn’t have the success.
If you want some more information about how to make money as a student then come here.