Could you really build real wealth with passive income in South Africa?
The answer is a big YES!
I know people that have implemented some of these income-generating ideas and strategies who are wealthy today.
I have personally used blogging as a secondary income stream for the past 5 years and I can promise you, this has been my financial vehicle since.
Below, is a complete list of passive income ideas in South Africa 2023.
Let’s get started…
What is Passive Income?
There’s no better way of explaining this without scenarios.
But here we go…
A passive income is money derived from work, time, and money you’ve invested into an idea. This residual income comes on a regular basis without having anyone put any effort into maintaining the work.
In short, you work very hard right now, so that the idea could look after you for life in the future. Your idea needs to add value, treated as a financial product.
For example:
You might run out of cash during the month, and probably do overtime or after-hours work just to increase your income. Passive income is different, you work on an idea that’ll make money for you, while you’re focusing on your career. Put a lot of effort and time into your idea after work hours and a few months later, you start earning income.
That income grows over time and consistently every month.
So, these passive income ideas are worth trying in South Africa because they’ve been proven and tested to bring consistent income to those who’ve worked hard.
1. Blogging
Blogging is the number one source of passive income for many South Africans.
It’ll cost you nothing more than R99 per month of domain registration and hosting, a few hours after work and a few months to start earning a residual income in 2022.
Interesting fact:
You’re reading my blog. This blog makes most of my passive income with affiliate marketing in South Africa.
I’ve signed up with two of the most popular affiliate networks in the country.
You could also signup with Google Adsense. Many bloggers in South Africa use Adsense for passive income.
All you need is enough traffic to your website.
Blogging for passive income online is also best for students who want to make extra money on the side of their studies.
Give it a try.
Here are tips for making money with your blog.
- Advertisements
- Run affiliates
- Create online courses
- Buy a blog
- Sell own products and services
2. Uber
You do know what Uber is, right?
South Africans use the Uber business model for passive income. All you need is a car (sedan) and you could start earning over R8 000 per week with Uber.
I know people who are working for other companies but have their cars making money for them in between working hours. Otherwise, you can get a driver who’s going to make you passive income on top of your salary.
You could also subscribe to another popular e-hailing business network in South Africa, Bolt.
Bolt was previously Taxify, the name was changed earlier in 2020.
Both Uber and Bolt guarantee regular income you can enjoy for a long time.
3. Rent Your Car
You could rent your car for advertising space and help a brand reach a large audience.
With that said, you could earn up to R4 000 per month depending on the ad campaign and size of the ad.
Try out brandpromo.co.za today and get paid while you drive.
4. Real Estate
Real estate investment for passive income in South Africa means buying a property and not staying in it.
Earn residual income by renting out your house or property.
Let’s assume you have a house on bond, which would your best option:
- Rent out the house and pay it quicker?
- Stay in the house and increase your expenses?
Obviously, option 1 becomes the best passive income idea for 2022.
Want to know the best part?
Invest in real estate in your 20s, that way, you can raise enough capital to buy even more properties to rent.
5. YouTube
Do you have unique video content which you already shared on YouTube?
You can monetize those videos to create passive income with YouTube.
You’ll make money whenever people are watching your videos on YouTube.
In South Africa, vloggers such as Nicolette Mashile, the Financial Fitness Bunny makes most of their passive income from YouTube Adsense.
To qualify for YouTube Adsense, you need to have a certain number of subscribers and watch minutes per month.
6. Airbnb
Rent your property space and earn money on Airbnb.
List your property on Airbnb and start making money over R11,650.00 on the go.
Here’s an article that’ll show you exactly how to make money on Airbnb.
7. Network Marketing
Many South Africans join network marketing companies such as Forever Living, Amway, and Avon to make extra money on the side of their daily jobs.
This type of business is very popular in South Africa.
People sometimes refer to this kind of business as pyramid scheme but it’s not. It’s a concept that helps people build real businesses and wealth.
8. Become a Social Media Influencer
A strong following and engagement on your social media platforms such as Instagram, Twitter, Facebook, and TikTok are all you need to coin it with sponsored posts. You can use your online presence as an attractive business model.
Do your research and get growing consumer brands to pay you to post about their products or services in your feed. You will be surprised how many brands/businesses out there are looking for people to post about their products and services.
Your posts will have to be engaging and appealing to your audience.
9. Rent Out Useful Household Items
You can rent out small household tools that people may need at a price. These can be high-value items that people may need for a short period of time and would make sense for them to own them.
Items such as lawnmowers, mechanic tools, power tools, tents, or large coolers can be some of the things needed but, you will have to figure out what is in demand before you make any purchase for this to be a success.
10. Become a Silent Partner
If you have always wanted to own a business but, don’t have the time or expertise to manage and run it, then maybe you can consider investing in a certain business and become a silent partner.
This way, you are only involved financially, and your business partner will be the one fully involved in the day-to-day business operations.
Depending on the terms, once your investment has been made you will receive regular payment which will be a percentage of the profit made by the business.
Be very cautious when doing this, find the right business that has potential and invest in it.
11. Sell your Photography
You earn a passive income from selling stock photos. All you need is a good camera or phone and great photography skills.
There are stock photo sites such as Shutterstock and Pexels that will pay you for high-quality photos and videos.
You will receive a share in profits each time someone purchases your image.
12. Write an eBook
This is not an easy one but, it is worth a try.
With the right book content, you can make money by writing an eBook, publishing, and selling it as your own on platforms such as Amazon.
Interestingly, you will only have to do it once and each time someone purchases a copy, you will receive royalties which can quickly add up if you hit the right mark.
This is one of the best ways to make money writing online.
13. Dstv Installations
Become an accredited installer and start your own Dstv business.
Hire someone to work in your Dstv installation business to boost your passive income potential.
A lot of households still require Dstv services to maintain and support installed satellite dishes. Partner with Multichoice Dstv and start earning residual income for your long-term wealth planning.
Follow this guide on how to become an accredited Dstv installer or agent.
10. Tutor students
By conducting one-on-one tutoring and lessons, you can charge fees from the students you teach.
You could also teach in formal classes or can be hired as a consultant by big multinational corporations to train staff on a career you are an expert in.
Conclusion
Passive income can help elevate your finances and fill in the gaps that your 9 to 5 can’t fill. It is possible, all you need is a plan to get started.
Remember, this is not a get-rich-quick scheme. You will need to be patient and put in the effort to create a passive income source.
With the right mindset and consistency, you will soon reap the rewards of your labour.