Passive Income Ideas

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Here’s the thing about your current job. No matter what it is, I guarantee that you will get burned out. It doesn’t matter how much you love it, if you’re working a 9 to 5 and earning the same amount every day, (with small increases from time to time) you start wishing that you could just make fast cash with the least amount of effort.

I’m a lawyer by profession and while my job can be fulfilling, it isn’t the most exciting thing to solve people’s problems all the time, attend hearings, deal with traffic and come home late at night. Early on in my career, I decided that I would create something to make me money. Even while I sleep! Because ultimately, we all want a life where we can just pack up our things and travel the world. We want to be able to spend more time with our family and our dogs. Life is short, and it becomes waaay shorter when you’re living paycheck to paycheck. So what SHOULD you do? MAKE PASSIVE INCOME! Create a system where you’re getting paid for minimum effort but getting maximum returns. 

Here, I put together a few passive income ideas to get you started.

Dividend income

To earn this, you would need to invest in stocks first. Check out a reputable company in your jurisdiction that lists companies that offer their stocks to the public. Dividend income consists of money paid to shareholders of stocks, deposited usually every quarter. If you’re interested in how to do this, check out Nerd Wallet. Usually, investing companies have step by step procedures on how to invest with them. Just pick one and learn their system. It sounds intimidating in the beginning, but there’s really nothing to it if you’re willing to learn.

Rent out one of your properties

In case you’ve been living under a rock, there’s this amazing company called Airbnb where you can sign up and advertise to have an extra place or room that you own up for rent. I have personally tried this myself and have had a great experience every time! It helps to have really nice photos of your place that’s Instagram worthy to keep people interested. Be a good host though because your guests have to leave a review about you and vice versa. Depending on your ratings, you may end up being a star host and get more guests pouring in.

Write a Book

This is one of my favorite ways to earn cash because there are just so many ways to market them! You don’t even need an old school publisher because you can turn your book into a digital copy and sell it as an E-book online. To get more attention, you can sell it on popular sites like Amazon or Selz. The website platform gets a small percentage of your book sales though. But hey, it’s still good publicity for you!

Affiliate marketing 

Affiliate marketing is an arrangement where an online business pays a commission to another website for traffic or sales generated from its referrals. Basically, they are willing to pay you for helping out their business. You can learn more about it here. 

Instagram or Pinterest Marketing 

Your social media network isn’t just for networking, you can maximize your usage of these websites or apps by marketing products or services. Pinterest, for instance is a visual platform which leads you to websites once you click on the photo. Same goes with Instagram. On the latter, some people even make deals with those who have a lot of followers to help them sell. Selena Gomez, as of this writing, is one of the, if not THE most followed person on Instagram. (With 120 MILLION followers no less!)  Each post she puts up can earn her thousands of dollars. Jack up your follower list and watch your money multiply!

Online Shopping thru Drop Shipping

You know and have probably heard of online shopping where the buyer purchases products after depositing his money and the seller ships the products to him. Before, the seller had to be hands on throughout the entire process. But not anymore! Companies like Lazada and Zalora work this way. The potential buyer visits their website, spots a tshirt from a manufacturer, and Lazada or Zalora will make an order for the manufacturer to complete the shipping. This is great because if you’re the manufacturer, the website will do the marketing for you. This arguably takes the most of a typical seller’s time, but now, you can have it easy.

Create Online Courses

You needn’t be an expert in a particular subject- nobody really checks what kind of certifications you have, but you must just be able to HELP them. I have seen online courses being offered from as little as $ 5 a course to $ 3999 a course. Create one which would be difficult to pass up!

Make YouTube Videos

A few years ago, we would never have guessed that YouTube would be such a cash cow for those wanting to make a quick buck. Upload interesting; helpful and entertaining videos on the site, make it go viral and YouTube sends you a check once you get enough views and subscribers. You can also work with companies where you can convince them to pay you once you gain enough viewership. All you have to do though is to keep creating amazing content. This may be challenging, but hey, if a family can make millions just taking videos of their kids, then you can do it as well.

Set up Vending Machines

There are loads of companies that offer vending machines for sale from which you can earn cash from. School areas and top work locations are suckers for vending machines. Just figure out what products you can sell. For an office, you can probably offer a coffee vending machine, and maybe hire someone to stock the machine for you if you don’t want to do it yourself.

Take Photos and Sell Them

Websites like ShutterStock offer a program where if they like your photo and think it’s good enough, they pay you a royalty fee every time a client downloads it. How many times have you taken photos and gotten nothing out of it? Try this for a change.

Make Podcasts

Some people sell their online courses thru podcasts and charge their listeners a small fee for tuning in. If you’re good at playing the piano, maybe you can make a podcast on how to get better at it, or how to motivate fellow pianists such as yourself. The options are endless! Some who do podcasts also tie up with companies that wish to market their products thru another medium. You can offer a product to give away from your sponsor just to keep listeners tuning in.

As you can see, there are so many ways to make passive income! But for those that need a following, the amount of money that you make depends wholly on how you market what you’re selling. Whatever floats your boat! You just need to figure out what people want to buy these days and what they’re looking for. Help them solve a problem or help them deal with a dilemma. I am a firm believer that you CAN hit two birds with one stone. You can help your community and also earn from this passion. Good luck!

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