YouTube is an excellent way to create a new stream of income

It’s also great for helping you delve into personal passions. There are a few ways you can earn money through YouTube. Sponsored videos, affiliate marketing and the revenue from ads are the main ways to earn money. Whether you earn $100 every month or $10,000 a month, there are a few things you’ll want to do in order to increase your income and create a financial legacy.

1. Create an email list.
Create an opt-in incentive and promote it to all of your viewers. Let them know that they need to sign up for your email list in order to get the incentive. Keep in touch with the people on your email list by sharing a newsletter on a consistent basis. This one small effort is great because you’ll be able to share affiliate links and make more money outside of social media. Plus, you’ll be able to keep in touch with your followers.

2. Find new brand deals.
Usually, specific brands will reach out and offer partnerships for brand deals. If you’ve grown your YouTube channel to a significant amount of followers and the brands haven’t contacted you, reach out to them. Typically, brands respond to statistics. Create a stats sheet with your number of followers on social media, the amount of engagement you get and more. When you pitch your YouTube channel well, you’ll be able to reap the benefits of lucrative brand deals. You really don’t have anything to lose. If they say yes, you get to enjoy the extra money. If they say no, you can find another brand and still enjoy working on a passion project.

3. Invest the money.
It’s easy to make money online. It’s another thing to make sure that the money lasts. Investing is a great way to make sure that the money you make today is working for you twenty years from now. Whether you choose to invest it in the stock market or in a mutual fund, take a portion of the YouTube earnings and invest it in an entity that’ll give you a positive return on investment. If you’re unsure of how to do this, sit down with an investment advisor and gain clarity. When you’re dealing with your finances, always make educated and informed decisions. When you do this, you’ll be able to have more peace of mind.