Imagine waking up in the morning just to look at your bank account getting increased as time goes by. But this isn’t just a mere dream, it’s possible!
As you read this article, you’ll learn the most practical, realistic, and easiest way to earn passive income without sweating!
What is Passive Income
To explain it simply, passive income is just another source of income that requires little to no effort to earn money while maintaining it. This means that you can solemnly relax, sleep, or bond with your friends and families while you’re earning! You don’t work for anybody nor you have any employer, but you’re the boss yourself!
It’s just like what Freelancers do at the comfort of their home.
And just so you know, the other term you are looking for is the usual ‘Active Income’ aka the humanity’s regular job outside home. The four criteria of a Passive Income is: Recurring Payments, Systematization, Automation, Scale and Leverage, and Income Potential.
Why do people prefer Passive Income nowadays
Besides doing almost nothing while earning, passive income also tends to earn higher than our regular working jobs. The latter has a fixed salary every month, and they’re fortunate enough to get bonus, while passive income has a tendency to go higher within days, weeks, or months.
Other than that, it gives importance to one of the best commodities we ever have, that’s our time. So even if you took a day off, your passive income wouldn’t.
Best Passive Income Ideas:
1. Starting a Youtube Channel
You might be hesitant to start your video with “Hey Guys!”, but it doesn’t necessarily have to focus on Vlogging. Everybody is searching “How To’s” now, this means the tutorials are the most effective way to find success in your content.
Make sure to upload videos in a niche or industry that you’re already familiar with, especially if you’re about to give pieces of advice.
Youtube is getting lots of paid advertisement, and if you get ‘approved’ by Google AdSense, then you can make use of those paid ads to earn money, even if you already uploaded the videos years ago. It’s safe, easy, and free!
2. Affiliate Marketing
Affiliate Marketing never gets old! It’s everywhere!
All you have to do is promote a certain product from a trusted brand. You don’t need to own any product nor create anything.
Just simply attach a link or directly advertise, then once you got the attention of many, and they were able to purchase because of you, then commission is on their way. You can get a percentage every single month just by doing so.
3. Blogging
This one is different to what they call ‘Vlog’. It focuses on written content rather than video creation.
Whether you’ll write the content for your website or hire incredible writers, always start and focus on a particular niche. This would help make a name for your brand. You can sell whatever you want!
As a beginner, it would be challenging to get traffic to your site. Besides organic traffic, others use Search Engine Optimization for keyword researching to boost visitors, and rank your site on google’s first page. You’ll never know, several months or few years from now, you’re already earning tons.
4. Building or Uploading Online Course
Whether you create your own website just so you can post your tutorials or upload it on an Online Educational Platform such as Udemy and Skillshare, you can still make use of your skills.
Your personal knowledge can give you passive income. Ironically, introduction or guide to ‘Passive Income’ is in-demand nowadays, and your personal knowledge in this field can give you passive income as well!
The advantage of already built educational platforms is they already have organic traffic. However, they should get about 50% commission in exchange.
5. Create a Software (SAA) Product
Wonder why app or software developers are in-demand? Because from building a relevant SAA product, investors can earn so much!
But if you don’t have much experience in developing nor creating softwares, you can freely search it online or hire experts to do it for you. You may need to pay them quite a few bucks, depending on the person you hired, but it shouldn’t cost much as you are about to earn times three!
There’s an option of recurring payment for members, and to those who were able to make use of your app or software after the free trial period. You get paid every single month!
6. Investing in Stocks
Might be one of the most complicated yet effective passive income. You basically invest the money you have, buy stocks that pays you dividend classed, be a stockholder, and wait for earnings to increase.
Remember that companies pays according to the amount of your shares or dividend. The larger shares you have, the higher possible earnings you can get, and I’m sure you’ll know what lies if you have a small amount of shares invested.
But since the stock market is over saturated, you must be aware that there’s a huge risk! If you want to highly avoid getting bankrupt from the market, invest in Top Companies within your country or brands known all over the world. As long as you can pay their minimum, at least, then you have nothing to worry about. However, I’m not quite sure if they’d allow even a hundred dollars as startup.
There’s a little chance that the top brands’ market will get flopped. From 20 bucks, to thousands, or millions of dollars a week, Stock Investment is your best friend.
7. Real Estate or Rental Income
If the banks are going to give you a mortgage or loan from a certain property until years time, what you can do is to make business out of it. Allow renters to pay an exact amount or a little bit higher, and take their payment to the bank. They’d be the one who’ll pay your loan for you.
Set a certain amount of goal that you want to achieve for the whole year. Divide it by 12 months, and add other fees and taxes as well as the commission if you’ll require it. Then that’s the amount that they have to pay each month.
Any excess payment can help you save money, and use it for other useful investments.No real estate income has a quick process, but it would come on a right time.
8. Connect as an Affiliate Program or Amazon Associate
This tool is getting popular by now. It almost has the same principles as Affiliate Marketing but it highly focuses on a link to be redirected on Amazon (or even any related websites for that matter).
You might ask why Amazon? They really do have an affiliate marketing program that allows content creators, writers, or bloggers to share a link from Amazon to their respective website. If a consumer buys a product after clicking your link (or in some cases, just clicking through it), then you’d get a commission.
Signing up is free! Once your account is approved, start linking an amazon product to your website or blog, and get commission.
As Mr. Greg McBride of Bankrate says: “You’ll catch more fish with multiple lines in the water,” there’s no limit as to how many passive-income ideas you can enter as long as you have the financial capability, entrepreneurial knowledge, and ability to manage, then you can get something big out of them.
