Financial professionals are responsible for, among other things, preparing account statements, negotiating lines of credit, and ensuring the financial stability of businesses.
Although many of them generally earn a decent salary, their excessive and frivolous spending, retirement savings, and general living expenses leaves many financial professionals in dire financial straits.
Are you one of the financial professionals who find themselves in this situation?
Don’t worry. Here are some proven ideas for earning extra income, even remotely. These recommendations are based on insightful analysis from reliable sources like The Economic Times, Financial Wolves, Neil Patel, etc.
Online private lessons
According to The Economic Times, teaching online is a profitable business idea with endless opportunities to make money. African financial professionals who can teach students in online classes can benefit from this rewarding industry. With thousands of people opening up to new areas and many people eager to learn financially, you can earn a decent income by sharing your experience.
You can start an online educational business on YouTube or partner with other educational companies to generate additional income. Consider taking advantage of social platforms to advertise and price your sessions. Besides, you can also earn money through advertisements and collaborations with other companies.
Become a financial advisor
According to Smart Asset, financial advisors identify the most appropriate investments and provide personalized advice to investors on building wealth. African financial professionals can earn a decent living by sharing their knowledge and experience in the finance industry.
This idea is right for you if you can guide investors with financial planning, guide insurance decisions, and identify profitable investments. You are compensated by advising clients on the purchase and sale of stocks, bonds and other assets. Also, you can make money as an independent contractor or work for multiple companies with different clients.
Provide independent services
According to Financial Wolves, freelance work is the easiest way for financial professionals to earn money remotely. African financial professionals can earn a decent income as many companies seek financial talent for contractual or full-time positions.
Web platforms like Upwork, Fiverr, Freelancer, and Toptal offer lucrative opportunities for financial professionals, and Africans can take advantage of them. Consider signing up and following the correct registration process, then showcase your skills. These platforms have sections where you can talk about your experience and expertise to help the right clients find you.
Create a website or blog
According to WordPress Beginner, starting a website or blog is profitable and a perfect way to earn a decent income online by doing what you love. A financial blog presents opportunities to make money but requires effective strategies to achieve successful results.
African financial professionals with excellent writing skills can make money by educating the public about personal finance or spending on a website. You can make money from blogging with affiliate marketing, ads, sponsored posts and flipping sites. Advertising is the main source of passive income for website owners, there is no limit to what you can earn.
Write a book on finance and publish it yourself
According to The Balance Small Business, self-publishing a financial book is profitable, with many authors receiving 40-60% of royalties from the book’s sale. Regardless of your experience level, platforms like Amazon and Smashwords provide African financial professionals with decent opportunities to earn money.
Beginners can write about credit, investing, savings, taxes, debt, and budgeting. Additionally, experienced financial professionals can share their knowledge of investment banking, mergers and acquisitions, venture capital, and more. African professionals should embark on writing and self-publishing a book of passive income opportunities.
Start a YouTube channel
According to Shopify, YouTube is the platform to unleash your earning potential, and financial professionals can take advantage of it. African financial professionals with content creation skills can earn a decent income on the video platform. If you can educate and entertain the audience or review a product, consider subscribing to a YouTube channel.
Consider advertising on other social networks to gain more followers and subscribers, as you will earn from each view. Also, you can earn money on the platform by promoting financial products and companies or as an affiliate marketer.
Selling Finance Courses Online
According to Neil Patel, selling courses online is very profitable because many creators make a lot of money in a short time. African financial professionals with skills in creating online courses can build a large business in this sector. African financial professionals can benefit from the rapid developments brought about by training initiatives and the profitability of learning in the e-learning industry.
Consider creating courses that contain valuable information about the financial markets or educate the public about business and personal finance. Besides, you can sell courses on Udemy, Skillshare, Thinkific, Podia, etc.
Start an audio broadcast
According to Podcast Insights, starting a podcast is a quick and profitable way to generate income for a better life. Skilled African finance professionals can make money through sponsorship, advertising, training, and affiliate marketing with podcasts. So, if you can continue to tell stories to entertain your audience, consider starting a Mali podcast.
Your podcast can be an educational tool for communicating valuable information to audiences and generating revenue. Sharing valuable information with the masses is a fast way to make money online without hurdles.