Making passive income is the dream of many, but it takes work to do it well. There are several ways to make money while sleepwalking through your life. And yes, some take longer or more effort, but they’re worth it. They’ll give you that elusive feeling we talk about in the first paragraph.
You know what I mean – when you feel like you have enough money and nothing makes you too excited or stressed. You feel peaceful, even if you don’t understand how you got there. It’s hard to describe, but most people who achieve this state seem to have it around them at least once a week.
I think making passive income is achievable for almost anyone. Sure, there will be times you have to get up and go do something, but hopefully those occasions are few and far between.
There are many different types of passive income. Some are better than others depending on the person, so never assume one way is “bad” and another is “good”! Just because someone else made their fortune doing that thing does not necessarily mean it is your best bet.
Finding which type of passive income fits you and your lifestyle is an important part of the process. This article will discuss five easy ways to earn extra money without much effort beyond updating Facebook and reading email.
A few years ago, before he was famous, you could find Steve Jobs selling things online via his own website. He would offer his audience some helpful tips or products that they can use to improve their life (“This is an excellent book for you to read”) or supplements they can try out (“These are a great way to boost your health�”).
He would then link them to where they could purchase the product from his site or through another platform like Amazon, BestBuy, or eBay.
By creating his own digital store full of products, he got paid over and over again with affiliate rewards — which is how most people make money online today. It is not uncommon to make several thousand dollars per month by just sharing a good service or product you know about and getting a small commission for each sale.
There are many ways to do this, but one of my personal favorites is something called Affiliate Marketing. This is when you create a business online that produces a product or service and earns revenue off advertising or sales of someone else’s product/service.
Starting your own business is one of the best ways to make passive income. All it takes is your time, a good website, and some way to source products or services for profit.
The easiest way to start a business is buying a pre-made product that converts into another product you can sell more than once. A great example of this is selling purification tablets online that turn into water bottles.
Your site does not need to be totally about making money either. You can create an informational website using quality content or use a free platform to launch your own mobile app.
Business owners spend their days thinking about how they can make more money so why not give yourself a pay check by doing what you love?
This article will talk you through several easy ways to begin affording your dreams without too much effort.
Along with investing in stocks, investing in other things such as real estate or start-up businesses is another way to make passive income. By investing in these things, you get paid for owning them, thus creating an income stream for yourself.
Investing can also occur via donating to charities that have solid funding sources and/or are underfunded. By donating, you receive back many benefits, including tax breaks and increased confidence in the charity’s mission.
I've read some stories where people made large sums of money by investing their savings in online coupons. The coupon sites pay you to use their service! It seems almost impossible to earn enough extra cash just through spending cuts alone.
You may be able to find something similar and add it to your budget. By investing in what you know, you could easily pick up small incomes.
Consistency is one of the key factors in making passive income. If you are too busy, it can easily be forgotten about, which is why most people do not have this dream of financial freedom.
If you want to make money passively, you must find the time to put into your career that makes up for its lack of active engagement. This could be doing something you are good at and getting paid for it, or finding new ways to hone your skills and market yourself.
One of my favorite ways to make passive income is to establish myself as an expert in my field. You can do this by creating educational content or buying a domain name and building a website that covers your niche.
By establishing myself as an authority in my field, I get paid for educating people about products and services I use everyday. It’s a win-win situation!
I’ve done it before where I would invest in a product line (or two) and host a webinar promoting them. I’d be compensated not only for the cost of purchasing the product but also for the speaker’s fee which can add up quickly.
Another way to achieve this is to create a blog focused on products and services in your field. You can then link to their sites and earn money via indirect revenue.
The tricky part is trying to find the balance between supporting brands and businesses and staying off as ethical as possible. You don’t want to appear like you are being sponsored when you aren’t so check out what types of blogs exist around yours to see if anything fits.
General business and marketing blogs seem to pay better than ones just focusing on making money. But no matter what type of site you pick, continue to put quality content into it and maintain consistency.
A few years ago, if you wanted to start making money online, you needed to have a lot of money to invest in expensive equipment or software. You also needed to be very creative to come up with fun ways to make your site look professional.
Nowadays, that is no longer the case!
All it takes to earn an income online is having a web browser (like Google Chrome) and internet access. You can create free websites using a service called WordPress.
This article will talk about how to start earning through blogs and what types of blogs are best for beginners. But first, let’s discuss some quick tips for creating a successful website.
Quick tip number one: Use a good domain name
A domain name is like the address for your website. For example, www.yoursite.com would be yourdomainname.com.
Make sure to use appropriate words in the domain name. It should be catchy and reflect who you are as an entrepreneur.
I recommend using “~workpla.net” as your domain because it is easy to remember and underscores your goal of offering your services to others.
And yes, you can easily find cheap domains via sites such as Namecheap.com.
A few years ago, it was hard to find many ways to make money online. There were some success stories here and there, but most people were struggling to find practical, easy solutions to earn their first dollars.
Nowadays, things are totally different!
There are now an almost infinite number of ways to make money online. You can create your own website or take advantage of free websites that offer you income opportunities through the toolbox they provide.
By offering and providing value in one way or another, you can generate revenue for your site and yourself. It’s not always about selling products, however. Some sites pay you to read, review, or talk about them. Other sites will reward you with points that you can redeem for rewards such as gift cards or cash back.
Finding a source of passive income is easier than ever before. Technology makes it possible to work anywhere at any time, so you need to determine what works best for you.
You are your biggest obstacle when it comes to earning extra money. Are you willing to do things you have never done before? Or are you too scared to try something new?
If you are more risk-averse, this article may not be for you.
One of my favorite ways to make additional income is via what’s called “affiliate marketing.” This is when you create or find a product or service that you believe will help people, and then you get paid for each time someone purchases the product because of your referral.
The easiest way to start affiliate marketing is by creating a website full of helpful resources and information. You can pick any field — whether it be fitness, beauty, dieting, money management, etc. And if there are already products in that space, you can definitely add your own expertise as an affiliate seller!
My personal favorite way to make extra money through affiliate marketing is promoting CBD products. There are many health benefits of cannabidiol, which makes it very popular.