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We keep hearing about Passive Income. How much it’s changing lives for the better, how it can make you rich, and that it’s the glorious way paved to financial freedom! How to make passive income online is an ongoing question that I’ll answer in this post.
Passive Income is one of those things that people (especially millennials) today are very much interested in. Wanna know why?
This is because a lot of people will grow rich from creating passive income and it’ll eliminate a whole lot of life’s stress as it relates to our finances. However, I know some of you are unsure and asking yourselves, what is Passive Income?
Simply, Passive Income is regular earnings from a source that requires minimal effort and earns you money even in your sleep. Eg) a blog, rental property, a book, etc.
This will allow to you can make money while you sleep. I bet that’s the master plan of every entrepreneur, business-minded person, or anyone seeking a way to financial independence.
“If you don’t find a way to make money while you sleep, you will work until you die”.
Warren Buffet
Imagine waking up to see money in your account for that book you published, or from purchases on your website, or just by renting out some equipment. Whatever it is, waking up to that would set your day off to a good start. I know that’s a win for me!
I’m so happy you stopped by! I’m about to show you how to start earning money and have a passive income portfolio.
Ways To Make Money While You Sleep
- Dropshipping – This is a business where you sell other person’s products in an online marketplace and obtain a cut/profit. However, you have nothing to do with the storing/handling of the inventory. Also, you do not manage the behind the scenes process and shipment of these items.
How to get started?
You can get started on Shopify, an e-commerce platform. They have a 14-day free trial. You can also use Oberlo to start your dropshipping business. However, if you wish to dropship for FREE, you could try Nordstrom, Aliexpress, TMart, or Fragrance.net.
2. Real Estate – If you have real estate, you can rent your property for monthly income. This is very sustainable and you will definitely be able to make money in your sleep. Real estate appreciates over time and so, you can make necessary changes to your cost, which will benefit you.
Also, Airbnb is trending today. If you put your property up for Airbnb rentals, then persons who are staying in the area for a short/temporary period can book/rent your place to stay.
Related Content:
18 Easy side hustles for teens
How to make money online for beginners
Passive Income Ideas
3. Freelancing – This is a great way to make passive income and make money online. Freelancing is basically offering your services to clients. So, whatever talent or skill(s) you have, find a niche, offer your skill, and make money! Undoubtedly, this is also a great passive income for college students.
Many persons believe you have to be well known or established to start, but that’s far from the truth. I implore you to start where you are. Just start! Build with the contacts or connections you currently have and build from there. Some Freelance jobs/services include:
- Teaching/Tutoring
- Graphic Design
- Media Management
- Virtual Assistant
- Writing/Editing/Proofreading
- Marketing/Promotions
- Research
Additionally, you may share your services directly or indirectly with clients. Indirectly would be going through a company or agency. You may do so through Fiverr, Task Rabbit, Mechanic Turk, or Upwork, or whichever you choose.
“A wealthy person is simply someone who has learned to make money when they’re not working”.
Robert Kiyosaki
4. Dividends – Stock Trading can rack you up some good money if you know what companies to buy into, how and when to trade. It’s a way to build wealth and get rich.
To earn Dividends, you can research companies that are likely to have an increase in their dividend payments each year. You would find out the best dividend stocks for passive income. That way, you’ll be setting up yourself for Dividend Income as sales of the company increase.
5. Affiliate Marketing– Did you know that you can participate in Affiliate Marketing without having a blog or website? Yes, you can!
It’s another way to earn passive income online and wake up to money in your account!
There are so many affiliate programs out there today that would love for you to join! Here are a few you can join:
- Starbucks Affiliates
- Amazon Affiliates
- EBay Partner Network
- Target Affiliates
- Aliexpress Affiliates
- Walmart Affiliates
- Shopify Affiliates and so much more out there!
More Passive Income Ideas For Creatives
Adsense– If you have a blog or YouTube channel, you can apply to Google Adsense for monetization (ads get you paid). Once your content aligns with Google Adsense policies, you may easily apply.
However, you’ll need to secure 1000 subscribers and 4000 watch hours on YouTube. In fact, YouTube makes a good passive income for teens or anyone who loves making videos and sharing information/experiences.
For your blog, you must create quality, unique content and other guidelines you can learn here.
6. Books/Courses – Another way to make passive income. Everyone has a story. Don’t be afraid to write that book and get it published. There are so many platforms to sell books these days. Plus you have the option of doing paperback, ebook, or audible!
Additionally, Courses are a great way to earn passive income. Are you knowledgeable or an expert at something that’ll bring value to people or that will solve a problem? If yes, get going! Write a course and sell it for a reasonable price.
Don’t know where to sell your courses? You may do so at:
- Udemy
- Thinkific
- Samcart
- Your Website
- Social Media
- Podia
Trust me, you can do this and yes you will get sales!
Passively Making Money
7. Start a Blog – You’ve probably seen this one everywhere. It really never gets old. The internet is here to stay and you can always monetize your blog.
First, you’d decide a niche you want to go into. In fact, think about something you know you’d never get bored sharing/writing about and go for it!
8. Teaching – You guessed it, parents are paying for online tutors these days. Teachers/tutors are always needed no matter what the level or subject.
There are numerous platforms where you can find online teaching jobs. I’ve listed a few for you below:
- Chegg.com
- Tutorme.com
- VIPKID.com
- ZipRecruiter.com
- Caribbeantutors.com
- Tutors.com
I really hope you enjoyed reading! Now that you know how to make passive income online or how to make money passively, don’t forget to share with someone who might find this helpful. Also, you guys can check out my posts below for much more money-making ideas.
how to make money online for beginners (passive income for beginners)
