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!
how to earn money 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.
Make money online 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.
Make money online 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 video of. 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.