Earn Money $500 a Day
We’re going to be talking about passive income, and as the title says, I’ll be breaking down how you can earn $500 a day legitimately with what I’m about to tell you and what has worked for me. However, I only want to tell you what’s possible and how you can learn from my small successes and mistakes. That made sense in my head.
- Graphic Design
- Video Editing
- Affiliate Revenue
- YouTube
- Brand Collaboration
- Conclusion
1. Graphic Design
The first stream of income I want to talk about is Graphic Design. I was primarily and still practice as a graphic designer. I mainly specialized in one kind of design which is User Interface Design. I designed,
- Apps
- Websites
- Magazines
- Books
- Posters
Basically, any design that involves a lot of text and something people would read about. I did and still sometimes do that today are in a digital age with social media apps everywhere and companies are trying to stand out with creative communications in form of a beautiful design, why not be the person they need for that?
Designers are one of the highly demanded people in the creative space, To do this would require you to practice a set of skills which I always recommend starting with typography, that is learning how text and fonts work for lack of a better explanation. It’s by a professor of a type called Ina Saltz, and it really changed my life for real.
I would have loved to tell you some of my designs but many are under NDAs or Non-Disclosure Agreements but, if you want to see me break down some of my design work and processes, I used to earn up to about $14,000 in 6 months or almost 2,300 a month. Anyway in summary, for my graphic design work, during my peak times.
I could earn somewhere between $77 a day to $200 dollars a day and sometimes it can be way higher but this is just a modest average. In fact, a friend of mine, Joshua Oluwagbemiga or JoAccord who works with Invision is one of the best designers for user interfaces that I know.
Though but he’s a super dope designer and he can actually earn ten of thousands of dollars because his skill level is way beyond expert at this point. That’s what happens when you put the time in.
2. Video Editing
Some of the clients I had when I was primarily a graphic designer also needed 3 things one was photo editing with photoshop, taking pictures for their website, and making a video that would be graphically inclined and would further communicate their message or promote them so that they can make sales. I thought this was a great opportunity and took to learning.
I took a lot of courses and kept practicing day and night and that’s the thing. For skill-based things like,
- Graphic Design
- Coding
- Videos
The more you practice, the better you become. Truly. I tried my hands with video production and made videos for clients and friends for free, and this helped me become better. At the time, I was still employed so I offered to create videos for the company even though I was mainly a graphic designer and social media manager then.
I created videos that would promote the brand as well which I got to learn a lot from. Another thing many of my clients did ask for after my design work especially for websites was coding. I don’t know how to code, I wish I did but thankfully I had friends that I could work with and I’ll be able to earn a commission from that as well when I refer them.
Alright so give or take, for video editing and dabbling in photography here and there, I’m able to make around 80 to 160 dollars a day or 2,000 to 5,000 dollars in a month. But like everything else, if you put your mind to it and commit yourself, you can actually hit really high numbers so you shouldn’t limit yourself.
You can learn a lot from YouTube if you can’t afford to pay for resources on Linkedin Learning. I love LinkedIn learning because it’s people with years of experience like professors that teach there and they categorize it in order for you. That’s one of the places I even learned music theory and started dabbling into making some music.
However, youtube is a super huge FREE platform and a great resource. Which is where we’re having this conversation. Interlude Now, this next section is for content creation, which I’m sure you’ve all been probably waiting for… or not. My journey through life sort of moved past me being overly hands-on or exchanging my time for money into putting in the time and compounding it.
Now, I still have to learn a lot, I still read at least one book every week so that’s something I try to dedicate my time to in order to grow because once you feel like you know everything, you begin to decline.
3. Affiliate Revenue
Affiliate revenue is when you recommend a product or service to people, and when they click to purchase, you get a small commission from that. I have can’t really generate much revenue or can’t even be linked at all, but the few ones I did, actually did get purchased and in total, I was able to make about $337 and 66 cents and when you spread it out within the months, it gets so low and some times I can get $11 a month.
It’s not the most stable. I also mentioned that I loved to read and I also love Audible, the audiobook platform which I’ve been using for years, so for instance, This can be useful for people who also have Podcasts and want to support their shows, if you can get people to sign up as well you both benefit and I think Audible is one of the better audiobook platforms in my opinion because I’ve bought around 30 audiobooks on there as well.
I’ve also tried out Jumia affiliates but it’s also been a little hazy in terms of commissions. In total, affiliate programs would account for about $2 per day to $17 per day on great days and about $11 per month to $517 per month, this one is the most unpredictable because not everyone buys via your link but if they do, they could be supporting your channel or platform big time.
4. YouTube
So as you may or may not know, I try to make the best videos I possibly can to create interesting thought pieces about smartphones and apps, or just gadgets I like and can get a hold of in general. I’ve been making YouTube videos for over 4 years now. I would say making videos on YouTube does require a certain amount of skill where you need to learn about concepts you’re trying to talk about and make a video of.
Essentially something you’re interested in and can’t get bored of talking about. I like to think about this platform as a portal for Entertainment or Education but it’s much broader than that. Let me explain, A lot of people come on here to watch
- Funny Videos
- Interesting Vlogs
- Music Videos
- Celebrity Topics,
And more things along that line, those are entertaining and on the other spectrum, a video like this about how you can make some money, or just a tutorial in general, science videos, and the likes, are categorized as educational videos where you hope to gain some knowledge or be informed about a certain topic.
Of course, this isn’t a hard and fast rule, there are many many categories but these are just broad points. The way people make money on YouTube is by the views and the advertisers. Let me break it down. YouTube as a platform has many creators and viewers which is why advertisers who want people to see their products or services pay YouTube and creators share that money with YouTube where the creator gets 55% and YouTube gets 45%.
If a video gets 20,000 views for instance, and the advertiser says for every 1,000 views they want to pay $10 because that’s how much they value 1,000 people watching their ads. This is what is called CPM or Cost Per Mille, where mille means 1,000 so cost per thousand. Because of that if 20,000 people viewed the video and the ads, we divide the total views by 1,000 to get 20 so the advertiser pays 20 x 10 which is 200 dollars and the creator keeps 110 dollars while YouTube keeps 90 dollars.
However, advertisers pay like a dollar, 1 dollar per thousand so it largely depends on your region. Where people are watching. If you’ve got viewers from countries like the US where advertisers spend a lot on promoting on YouTube, the CPM could be as high as $20 per thousand so that same 20,000 views can make around $400 where the creator would keep 55% of that which is $220 compared to $110 or if you’re from Nigeria, maybe $11.
From the same 20,000 views. It’s not always the nicest when it comes to revenue however, for the month of February, we made about $1,800 in a month which roughly translates to $60 per day and this can go as high as $130 a day for me depending on how good the video does but it’s very rare.
5. Brand Collaboration
Branded / Sponsored Content Last but not least l source of income is sponsored content. This is where a company or brand directly pays you to talk about their product or service where they believe you can share with as many people. This can happen when a brand thinks you’ve got an engaging audience in form of followers or subscribers and they want to get in front of those people.
For me, this can range anywhere between 1 million to 3 million in a month. I wish that could be in dollars but hey…..anyway at this time, it’s a range of $2,000 to $6,000 approximately per month. They recently launched their M36 app which shows you investment options like Treasury Bills where you can invest for a period of time and get up to 2.4% in interest.
They can make you 12.75% for a much longer period of 2 years and some months. At the time I was only able to do it with Union Bank, the other banks kind of disappointed me but there’s a thing called Personal Travel Allowance where if you’re about to travel and you truthfully have proof, I paid for my ticket and everything.
I was able to access the PTA and businesses, they BTA (or Business Travel Allowance) where you can get $5,000 at the official rate, as far as you have a good reason. It can also be done on their app as well as even getting loans and even speaking to a wealth manager.
Conclusion In total, thing brings it to about $430 at a minimum to $701 dollars at a maximum a day and I just stuck to the midpoint at $500 A day. I want to mention that some of these earnings are before taxes, I have a tax adviser and I’m taking a chunk of this to pay for taxes. In the US, this is simply the IRS or Inland Revenue Service. This is how the VAT Form Looks like.
Conclusion
Having a stable job or working for yourself and having to deal with multiple clients where the income varies. Many people will pick being an entrepreneur or working for yourself as riskier because you kind of doesn’t know what can happen next exactly. The business might not come. Which is very true. The well can dry up. However, as an employee, you’re guaranteed a salary at the end of the month.
Now, the point I was trying to make is that, if the employee gets fired, for any reason, and they don’t have any other source, everything is gone, but an entrepreneur with multiple clients or multiple streams of income might be able to afford to lose 1 of them, or 2 because there are options.