Prince Harry and Meghan Markle attend an official photocall to announce their engagement at The Sunken Gardens, Kensington Palace on November 27, 2017 in London, England

With the world still reeling from the news that Prince Harry and Meghan Markle are to step back from their roles as senior royals and seek "financial independence," CNBC looks at how the Sussexes could now make money.

The couple, who got married and received their royal titles in 2018, say they want to earn their own income but said that this was "prohibited" in their current roles as royals.

The pair have pointed out there is precedent to holding a royal title and also earning a living externally. Princess Beatrice is Vice President of partnerships and strategy at software firm Afiniti, while her younger sister Princess Eugenie is a director at London art gallery, Hauser & Wirth.

Harry and Meghan have said they will give up the 5% of funding they receive from the Sovereign Grant, which is the money the royal family receives from the government, and therefore British taxpayers.

The total grant amounted to £82.2 million ($106.5 million) in 2018-19, working out at over £1 per U.K. taxpayer.

The remaining 95% comes from the Duchy of Cornwall, the estate of Harry's father Prince Charles. Prince Harry is reported to receive £5 million a year from the estate, though there is speculation Prince Charles could now cut his son and daughter-in-law off.

However, Prince Harry's net worth is said to be around £30 million, which is partly made up of inheritance from his mother, the late Princess Diana. Meanwhile, Forbes estimates that Meghan has a net worth of $2.2 million.

The couple definitely won't struggle to get by, but CNBC takes a look at how else the Sussexes could raise income after cutting the royal purse strings.