Building Passive Income In The UK:
An Interview with Lisa Eldridge
Welcome to this new interview series focusing on UK-based passive income builders. The term ‘passive income’ has been gaining popularity in the last 10 years (according to UK google trends data). Whilst this is encouraging to me, I think that UK-based voices are few and far between.
I don’t doubt there are plenty of pioneering individuals out there with a passive income story to tell. Whether those people are just starting out on their journey. Whether they already have established income sources or they are financially free, this series will highlight them. I hope you find this series enlightening and encouraging, opening your eyes to the multitude of ways you can reach your financial goals.
Today, in our first interview, we are talking to travel journalist Lisa Eldridge.
Please introduce yourselF
I’m Lisa Imogen Eldridge, a travel journalist and founder of a Girl about the Globe, a travel resource site for conscious solo females.
What Does Passive Income Mean To You?
It means the freedom to be able to travel and research countries whilst making money at the same time. My long term plan is to have a family so passive income will give me the time to spend with them.
What passive income sources do you have?
Advertising revenue, affiliate income, books, digital product, Patreon.
Do You manage Any foreign-based passive income?
My advertising revenue is through a U.S company which had been relatively easy as half of my traffic comes from the U.S.
How does your passive income compare to your active income and your expenses?
At present my passive income is just under 50% of my total income. I am working on making this 90%.
What are your short and long term goals with passive income?
To have passive income as my main source of income. My short term goals are to work on a digital marketing plan and SEO to achieve this long term.
Which sources of income are the most passive?
My most passive income sources are my advertising revenue which can fluctuate and also affiliate income for tours.
What is your favourite passive income source and why?
Affiliate income as the commission is good and I know that my reader will have an amazing experience with the company that I have recommended.
Which passive income source has been the most challenging to build? And did you expect this when you started building it?
Income from my guide books. I spent a whole year writing 4 guide books and haven’t yet recouped the time spent. I am now repurposing the content.
Do you think your passive income sources will provide consistent income over the long term?
Yes. This is my goal. Although I have noticed there are fluctuations during certain months I am optimistic that this will provide my pension ultimately.
What passive income sources would you like to have in the future? Do you see any areas of growth?
Yes. I would like to create a course to further help my audience as well as putting out a second edition of my book and market this for growth.
Has passive income-building changed how you save, spend and invest? If so, how?
It’s changed how I look at what I am doing business wise. It hasn’t changed my saving or spending.
What are the main advantages and disadvantages to being UK-based when building passive income?
I am really happy being a UK resident and don’t really know any disadvantages.
What advice would you give to someone looking to build passive income in the UK?
To work out your business model and focus on one income steam first. Learn as much as you can about digital marketing and join Facebook groups for support. Once you have mastered one income stream then move onto the next. Most of all be passionate about what you are doing and keep at it. Sometimes it can take a lot of momentum to build.
And finally, where can people find you?
Lisa doesn’t just have one source of passive income. She has multiple. She spotted a gap in the market, a resource for solo female travellers, and maximised it’s potential through multiple income streams. This, to me, is what good business is all about. Everybody wins. Her readers have gained a valuable resource that they can turn to and Lisa is being rewarded for that.
If you liked this discussion, hit the like button down below. What passive income sources do you currently have and which are you interested in building in the future? You can join in the discussion in the comment section down below.