Let’s talk about Money, Kudi, Ego, Owo, How’s it
going guys, it’s Fisayo here and in this video, 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 show you and what has worked for me. This video is not being created with the
intention to boast about anything, however I only want to show you what’s possible and how you
can learn from my small successes and mistakes. If you’re looking for get rich quick schemes,
don’t watch this video, it’s not for you. I recently put out a video on some apps that I used
to save and invest to earn $10,000 in a year and that’s linked below but this is more detailed and
more skill based.
A lot of the feedback from that video was that I should talk more in detail about
finances and that’s one of the many reasons I’m making this video. I’m hoping to help you answer
some questions as well as hopefully challenge you. Before we move on, I’d love it if you could
hit that like button so that you can help more people discover these methods and you will
be helping them help this get discovered. That made sense in my head. Anyway without further ado,
welcome to what we’ll be calling Finance Fridays! Graphic Design The first stream of income I want to talk about is
Graphic Design. I’ve said this a lot of times on the channel. 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 and I’ll leave a
link to the course that helped me get way better. It’s by a professor of type called Ina Saltz,
and it really changed my life for real.
I would have loved to show 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,
I could get clearance and share with you guys in a another Finance Friday video. Like this video
and comment below if that’s something you want to see. 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. Infact, a friend of mine, Joshua
Oluwagbemiga or JoAccord who works with Invision is one of the best designers for user interfaces
that I know, he doesn’t watch my videos though but he’s a super dope designer and he can
actually earn tens 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. I’ll leave a link to his dribble
page or portfolio in the description below.
Video Production The next thing I got into was video production and
photography. 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 and 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.
I’ll also leave a link to a resource
that is super super useful on LinkedIn Learning. 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 on there and
they categorize it in order for you.
That’s one of the places I even learned music theory and started
dabbling in to making some music. However, youtube is a super huge FREE platform and 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.. I’ll talk about my foray into
YouTube with the next 3 sources of passive income.
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 alot, 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. Also if this video has been useful to you so far,
do hit that like button and hit the subscribe button + the bell icon beside it so you’ll
be the first to know when I post a new video. Affiliate Revenue Alright, let’s talk about Affiliate Revenue,
this is when you recommend a product or service to people and when they click to purchase, you get
a small commission from that. This is actually the smallest portion for me because I didn’t usually
do a great job of posting the links to my tech items in the description or the tech 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 audio book platform which
I’ve been using for years, so for instance, if you used my Audible Link in the description
to sign up, you would get 30 days for free and would only start paying after the free trial
expires and I would get a tiny commission. 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.
Another source of affiliate revenue for me is
also Musicbed. Which I’m quite grateful for being their first ambassador in all of
Africa. I’ve also partnered with them for years now and Musicbed is a company that helps
creatives get very great songs to use in their music productions and things like that. So let’s
say you’re making a video, and you needed a song that would go great with that video, you can just
browse their selection and they do feature well renowned artists. If you, again, use my link
for a subscription and get a couple of songs, we also get paid while you get to use
dope music on your videos, you’re welcome. I’ve also tried out Jumia affiliates here in
Nigeria but it’s also been a little hazy in terms of commissions. In total, affiliate revenue
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.
YouTube Now, my 4th source of passive income is YouTube,
this Channel you’re currently watching on. 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
Essentially something you’re interested in and can’t get bored of talking about. For
me it’s tech and some aspects of finance. I like to think about this platform as a portal
for Entertainment or Education but it’s much broader than that. Let me explain, Alot of
people come on here to watch funny videos, interesting vlogs, music videos and 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, my own
tech review 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 200 dollars and the creator
keeps 110 dollars while YouTube keeps 90 dollars. In Nigeria 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. I am from Nigeria and it’s not always the
nicest when it comes to revenue however, for the month of February, as you can see on
the screen 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 especially since it’s Nigeria.
Branded / Sponsored Content Last but not the 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 to 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 and that’s Naira, not in
dollars, 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.
This is where I talked about products like DSTv, MTN, and the
likes, which I’m very fortunate to work with thanks to you guys’ constant support. None of
this would even be possible if you don’t watch and I’m very humbled by it. One of the channel’s long
time partner is Union Bank of Nigeria, I’ve worked with them for over a year now and they also have
opportunities for even more people to make money. 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 tp 2.4% in interest. The Federal Government Bonds in Nigeria which can make
you 12.75% for a much longer period of 2 years and some months. There are also Guaranteed
Investments Funds to earn up to 5% back, The commercial paper from Guiness Nigeria,
Dangote Cement and Nigerian Breweries which can net you up to 2.3% in returns for a shorter
period than Treasury Bills and you can also Fix Deposits.
This was similar to the video I did
early this year about savings and investing and in fact one of the things I did was to get
US dollars at the official rate in Nigeria, what does this mean? Well instead of me to pay 1.9
million to get $4,000 at the black market rate, I paid 1.5 million to get the same $4,000
and saved a whopping 400,000 Naira. 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 good reason.
This was one of the hacks I
didn’t mention in that video earlier and it was a timely life saver for me. It can also be done on
their app as well as even getting loans and even speaking to a wealth manager. I’ll leave links
to download the app in the description below. 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 mid point 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. If you’re in Lagos state where I am, you have the personal income tax, the LIRS
(aka Lagos State Internal Revenue Service) and Federal Income taxes for the corporate
side or FIRS (Federal Inland Revenue Service).
In the US, this is simply the IRS, or Inland
Revenue Service. I’ll leave a link to the LIRS platform and once you pay your tax, you should get
an email like this. For the Federal Income Taxes, Nigeria has made it somewhat easy for small
and medium businesses so if you earn less than 25 million Naira or 52,000 dollars in a year,
you won’t need to pay company income taxes so you’ll only pay your VAT (or Value Added Tax) and
that’s 7.5%. This is how the VAT Form Looks like. 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 more risky because you kind of don’t know what can
happen next exactly. 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 losing 1 of
them, or 2 because there are options.
Alright that’s pretty much it for my video, let
me know your thoughts in the comments below. Do you guys have any questions, please let me know.
Again if you found this video useful in anyway at all, let me know by hitting that like button,
not only are you helping the channel, you’re also helping others get this video discovered so they
can gain the same amount of value. Also consider subscribing to the channel. Thank you so much
for watching and I’ll see you in the next one..