How To Earn Passive Income

Wouldn’t it be great if we can just stay at home and money would just be added into our bank accounts? As they said, money makes the world go round. In the current state of the world right now, we cannot live without it. There are a lot of things that you cannot do if you are broke and have zero assets.

Not everyone is born into money. The rest of the world has to work hard just so they have enough to get by --- to survive.

When you talk about working, the majority of your friends would definitely tell you that working is a nightmare. They have shitty workloads, always on the clock or are facing dozens upon dozens of tasks. Working a traditional 9 to 5 job can also be exhausting. Mental burnout is a real thing. Sadly, for a huge percentage of the world, they have to work double if not triple their shifts.

Despite all of the exhaustion, there are still a lot of people who find that their salaries are not enough for all their needs, much less wants. Fortunately, there are now a few things that you can do to earn some passive income.

Invest In Real Estate

Real Estate is definitely one of the best ways to earn a passive income. Perhaps this tip would not apply to you a couple of years ago unless you are a millionaire with a couple of hundred thousand to spare. However, there are now crowdfunded real estate options where users can invest money into real estate opportunities with as little as $500. This allows middle-class people to invest despite not having the amount to buy their own real estate.

Rent Out Your Spare Places

If you have a place or a room that is not being used then you should definitely think about sprucing it up and renting it out on Craigslist or Airbnb. With rent prices getting higher and higher, many are now choosing to downsize. Instead of renting a full apartment, many would rather go rent a room. Apartment-sharing has also become the norm. Anything to save money. This means that there is a huge market for people who want to rent just rooms.

There are downsides to this such as running the risk of encountering a problematic tenant and fixing your place up but in the end, you earn cash monthly without lifting a single finger.

Affiliate Marketing

Affiliate Marketing is an ingenious tool that companies have set up so that other people that are not on their payroll will do the marketing for them. This is beneficial to all parties involved. Companies get free marketing if there are no results. Affiliates get incentives and a share of the sales if they make one. And lastly, the customer trusts the brand because it was recommended by a friend and not an advertisement.

Affiliate Marketing is quite easy to get into. You can choose on how you refer people to the companies you’ve signed up as an Affiliate of. For example, you can create a website. When your online visitors click on your affiliate links, you instantly get credited for it. If they purchase the product or avail of the service, then you get a commission. Easy as 1, 2, 3.

It is also easy and fast to join referral programs. For most websites, you just have to sign up through their website and in less than 5 minutes, you are good to go! If you already have a website ready then you should look for Companies whose services are already relevant to your audience so you wouldn’t have a problem with marketing their brand.

Create Online Courses

Due to the astounding growth of technology, education can now be availed even outside the four walls of a classroom. Online education has become one of the revolutionary advancements of the 21st century. With millions of interested users, online courses can be a great source of passive income. It takes a bit more effort than the rest of these as it requires you to create a top-of-the-line online course that will properly educate interested students that will sign up for your course.

The course can include as many educational materials as you want --- videos, charts, infographics, e-books, etc. Udemy Instructors, for example, earn thousands of dollars from the courses that they have uploaded.

Start A Business

This is perhaps the riskiest way but with the highest payout. If you have the money to do it, all you have to do is to start a business. How does it become passive? Hire someone to manage it for you. There are several risks that can occur here like mismanagement, general bankruptcy, and abject failure but as mentioned before, the payout is high. This venture is a high-risk, high-reward kind of deal and it would be best if you take the time to think about it properly first before you jump in.