Lifestyle

Passive Income Ideas: Strategies to Earn Money

Nov 13 2019 By Sriya
Passive Income Ideas: Strategies to Earn Money
Passive Income Ideas: Strategies to Earn Money

Many people wish to earn money literally without doing any work?

But is that really possible in real life? Can you earn money without doing any effort?

Some would say why not, you have lots of passive income ideas that can earn you money while you sleep.

If earning passive income was so easy, everybody in this world would leave their jobs and start earning passive income.

Many people imagine life after passive income as laying on a beach all day without a care to anyone else.

But, the real point is earning passive income is not just to sit around on your chair all day.

You need to put some effort. I mean not literally like the 9-to-5 jobs, but at least some.

I’m not trying to twist the topic to something else here.

But, before knowing some of the passive income ideas, you need to know passive income literally doesn’t mean doing nothing so that it doesn’t create a problem later.

So, today, we have jotted down some of the passive income ideas that you can use to earn money.

 

Index Funds

Index funds is one of the great passive income sources that provides you with a way to invest in the stock market that is completely passive.

For instance, if you invest money in an index fund, you will be invested in the general market, without you concerning about choosing investments, portfolio or anything else.

All the details regarding your investments will be handled by the fund.

You will also be free to choose a fund that is based on any index that you want.

All you have to do is decide the sector, contribute money, and sit back for the passive income.

 

Affiliate Marketing

Passive Income Ideas: Strategies to Earn Money

Affiliated marketing is one of the passive income streams that is best suitable for people who have blogs and active websites.

You can sign up to promote your product or services on the website and blog.

Then you will get paid when someone clicks on your link either a flat fee or percentage of the amount of the sales completed.

There are thousands of company who want to promote their products and services around the world.

In that case affiliating their products in popular blogs or website can easily earn them money.

So, you can use this opportunity for your passive income by either contacting vendors directly, or on dedicated websites.

 

YouTube Videos

Passive Income Ideas: Strategies to Earn Money

YouTube is one of the best passive income sources one can ever imagine.

There are lots of people in reddit supporting the idea of YouTube to generate passive income.

You are free to create videos in just about any area that you like be it music, tutorials, comedy or anything else.

Then you can attach Google AdSense to the videos, which will overlay your videos with automatic ads.

When your viewers click on those ads, you will earn money from AdSense.

The more creative and innovative you are, the more viewers you will get and ultimately earn more money.

So, create compelling videos, promote them on social media website, and earn passive income from multiple sources.

 

Invest in High Dividend Stocks

Building a portfolio of high dividend stocks, is one of the best passive income ideas that one can adopt.

You can simply earn passive income at an annual rate that is much higher than what you get on bank investments.

Since high dividend stocks are stocks, there is always the potential for capital appreciation.

So, investing in high dividend stocks can earn you passive income in two ways- dividends and capital gains.

You just need to create a brokerage account to purchase the stocks and do a little bit of research.

 

Write an Ebook

Passive Income Ideas: Strategies to Earn Money

Writing an ebook might not be for all those who want to earn passive income.

This is one of the passive income sources for people who love to write.

At the beginning, this can be a lot of work, but once the ebook is created and marketed it can provide you with a passive income stream for years.

You can either sell the ebook on your own website or offer it as an affiliated arrangement with other websites that provide content related to your ebook.

 

Invest in Real Estate

Passive Income Ideas: Strategies to Earn Money

Investing in real estate probably falls under semi-passive income category, since it falls little bit towards active venture.

However, once you have a property that is established and fully rented, you can manage the property very well.

Also, there are lots of professional property managers who can do the work for you with around 10% of the monthly rent.

So, you need not to worry about going here and there every time. Your manager will do it for you.

Another benefit of investing in real estate is that the loan keeps on decreasing.

For instance, if you obtain a loan to buy the property, each month your tenants are paying off part of the loan.

So, what’s better passive income ideas than to invest in real state?

 

Renting Car

If you own a car, but don’t use it that often, renting car is one of the best passive income streams for you.

There are lots of people who have problems with getting a public vehicle and uber while travelling around.

So, you can rent your car to a trustworthy person who is also a good driver and earn money.

There are companies like Turo and GetAround who help you rent your car when you aren’t using it.

However, be clear that you renting out your car doesn’t mean that the person will pay all your repair and maintenance bills.

 

Buy a Blog

There are literally thousands of blogging websites and millions of blogs created every year.

If you can buy blogs with a reasonable amount of web traffic as well as a demonstrated cash flow, it can be a great passive income source for you.

Google AdSense provides a monthly revenue stream based on ads that Google places on the site.

All you need to do is keep updating the site will quality blogs to gain more traffic and that’s all.

You can also use the blogging site as one of your passive income sources by doing affiliated marketing as mentioned above.

 

Rent Your Unused Space

Passive Income Ideas: Strategies to Earn Money

Renting space is probably one of the best passive income ideas that everyone knows.

There are lots of people around the world who face problems because the hotels are too expensive to stay at.

So, you can give your unused space to stay for a night and earn easy money.

You can take help of Airbnb, a company that allows people to travel all around the word and to stay in accommodations that are a lot less expensive.

They do this by staying with participating Airbnb members who rent out part of their homes to travelers.

You can use your residence to accommodate guests and earn passive income just for renting out space in your home.


Related Posts