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Are you in need of passive income ideas that can continuously generate cash even when you are sleeping? Well, you may find this article to be meaningful and enjoy every detail in it. But you don’t need to stop there. You should pick ideas that suit you one by one and implement them.

 Passive income streams work if you are willing to make upfront investments of your time or money. For instance, it takes time to write an e-book that can sell and earn you cash. Alternatively, you can invest with a Robo advisor to create wealth effortlessly.

You have to be smart in picking an idea or ideas of earning passive income. I would recommend that you try out these ideas one at a time before moving to the next. Here is the list of ideas you can consider to earn passive income:

1. Start a Money Making Blog

I am doing this right now, and it is one of my favourite passive income ideas. So, you can also start a blog and generate an income. It is not an easy road since you must spend most of your time and some cash at the beginning working on your blog. Afterwards, you will reap the benefits.

There are numerous ways you can monetize your blog. The first way to earn from your website is by creating top-notch content that can rank. Before you write any content, you need a niche that keeps you enthusiastic. You should also consider writing on a topic that will attract most readers and drive traffic to your website.

Another way to monetize your blog is through Affiliate Marketing. Don’t worry because I am going to talk about this more deeply since it is a way of generating passive income on its own. You can also make money from your site through the selling of digital products, CPM ads, CPC/PPC ads, name it.

I need to remind you one thing about blogging: It’s good to write content, but networking with other bloggers in your niche through different social media accounts is crucial. You should refrain from thinking that creating content alone is enough to earn an income.

The best thing about blogging is that it’s fun if you enjoy writing about a lucrative niche. Furthermore, you are a boss on your own, and you take total control of your business. You can also find ways to monetize your site and earn money even when you are on a 9-5 job. The only way to earn passive income from your blog is by being consistent and investing most of your time on it.

2. Affiliate Marketing

It is not uncommon to combine blogging with affiliate marketing. However, this is not to limit you if you haven’t created any website yet. You can do affiliate marketing through social media platforms such as Facebook or a YouTube channel. You only need an online presence to make your business a success.

But why would I recommend that you should consider having a website? Well, if you want to learn more about affiliate marketing, a blog is the best platform you can use. And as you know, learning can only be a valuable thing if you do it practically and not theoretically.

Furthermore, you can use a blog to build a community that trusts you plus what you are marketing. If people love your blog posts and any other creative content on your blog, they may buy your affiliate products. Additionally, you don’t need paid ads to sell your products.

Before I go any further, you need to know what affiliate marketing entails. You should also understand how to use affiliate marketing to make money. Affiliate marketing is when you promote products and services by other people or company(s). You earn some commission every time a product that you promote gets sold.

If you run a blog on a specific niche, then you are free to make money through affiliate marketing. How is that even possible? Well, let’s say your niche is about technology; it is easy to promote cameras rather than trying to do the same for a bed. You need an affiliate program that can allow you to use an affiliate link that someone can click on while filling out a form or while making a purchase.

3. Start a YouTube Channel

Have you ever considered starting a YouTube Channel to generate an income? Well, it is simple to create a YouTube channel, but you must keep in mind that it is not a get-rich-quick scheme. You may have heard of You Tubers who make up to millions of dollars from their channels. And one question you have been asking yourself is how these people make lots of money by doing what seems like having fun.

Are you aware that kids who are below 12 are making big bucks through their YouTube channels? Maybe you are a subscriber to their channels, and you would like to make big bucks from YouTube just the same way those kids do. The good news is that you can make it happen beyond your expectations. But how do you get started on this journey?

The first thing you need here is to be clear about what you want to do. You should know the sole purpose of you coming up with the YouTube channel. What message do you want to spread to the world? And what kind of audience are you targeting? I think the same thing applies when you want to start a website.

Now that you have a goal, you can start a YouTube channel. Ensure that you have a good camera to shoot videos that will be appealing to your audience. If you don’t have money for a flashy camera, don’t worry. You can still use a smartphone as long as your audience can see the usefulness of your videos.

One thing to remember is that you just got started, and there is no need to worry about things you cannot control. For instance, when it comes to editing your videos, ensure you use simple video editing tools. It is okay to start small and make mistakes because it is the only way to become an expert.

At this point, you know a few tips to get started, but you also need to see how you can monetize your YouTube channel. Since this post is all about passive income ideas, you must understand how to make dollars from your YouTube channel. So, how can a YouTube channel bring you an income?

You can make lots of money on YouTube if your purpose is not to get rich overnight. It takes patience, passion, hard work, and persistence to generate income from any YouTube channel. You must be willing to sacrifice a little, especially at the beginning before your business stabilizes.

There are many ways you can earn money on YouTube. It all depends on how creative you are. The first way is through advertisements. Before you think about generating an income from YouTube ads, you need to create the content of great value to your audience. How does quality content bring money?

Well, when you deliver pure gold, your viewers will likely stick around to enjoy your authentic enthusiasm. The number of your viewers also will increase depending on how your niche is helpful to them. YouTube will display ads on your videos, and that’s a passive income.

Another way to earn passively on your channel is through affiliate marketing. Many people don’t understand how to leverage this opportunity and make money. Well, if you are reviewing a particular product in your video, you can include a link in its description. If viewers love the product, they can click on the link and buy it. And once they do that, you earn a commission.

Making money on YouTube has no boundaries. You can direct your viewers to your website, and this is an excellent way to increase its traffic. Ensure that you engage with your audience and build trust. And if you work on your YouTube channel consistently and passionately, you will reap the benefits.

4. Write an eBook

Today you can write a book within weeks or months and earn a living from it for the rest of your life. All you need is a computer and a good internet connection to get started. You can make a passive income if you self-publish a book that can solve people’s problems. And you don’t need a master’s degree in literature to write an e-book.

If you are interested in the business of e-book writing, there a few things you need to consider first. You need a topic that suits you. That could be tips on something you understand or a tutorial. The next thing you need is a captivating title, for instance, “Powerful Tips to Lose Weight Naturally.”

Draw up an outline and start writing your book. Grammarly is crucial when you want to ensure that your e-book has zero grammatical errors. The next step is to promote your book on social media platforms like Twitter, Linked In, Facebook, and even your blog.If you feel a little confused about this e-book writing thing, you can enrol in a course by Sylvie.

CreateSpace and Amazon KDP are some of the platforms you can use to publish your e-book and make a profit. But before you earn an income, you have to market your book so that people can buy it. You have to keep in mind that things will not work out instantly. Put in marketing efforts upfront, and you will generate a residual income passively.

If you are a blogger, you are used to writing, and this shows that you can effortlessly write a marketable e-book. Once you self-publish your book on a platform like Amazon, you will have a few tasks to perform. That could be spending a few dollars on the advertisement to increase sales.

5. Sell Online Courses

You can get passive income from an online course if you do it correctly. You can use your knowledge to provide value to other people. Ensure that your session is something that most people need, and it can solve their problems.

The course can be in the form of emails with valuable information, e-books, or videos. The moment clients sign up to buy your session, they receive an automatic email from your system telling them the requirements to get it. You can use Teachable to heavy lift the session that you are creating. The price of your course will determine how much money you make.

If you want your course to be in video form, you can leverage Udemy. You can also make money on this platform instead of going there only to consume information. Turn your skills into a video course that people can buy, and you will get passive income.

6. Start a Dropshipping Store

Millennials and Gen-Zers are making huge profits from their dropshipping business. Dropshipping is where you act as an intermediary between the client and a third party (manufacturer). Through Shopify, you can come up with an online store that makes it easier for the manufacturer to sell products for you. You can sell kitchenware, dresses, camping materials, toys; you name it.

Dropshipping is more manageable since it’s the third party who does the inventory. It works like this: The moment a client sends you an order, you notify the manufacturer. The client will receive the product(s) directly from the manufacturer.

Another thing that should make you start this business is the fact that the manufacturer will do the packaging. You also don’t need to pay for any product upfront. But you must ensure that the price you charge for products is higher than that of the manufacturer.

7. Set up an Etsy Shop

If you are interested in making money from your crafts, printables, or handmade items, you should get into the Etsy business. Why are you sitting on diamonds when you can make millions of dollars by selling your unique items on Etsy? You can sell wall art, jewellery, personalized cards, soaps, candles or printables. It sounds like a great deal, but you need to work hard up front.

You can start selling your products on Etsy as a way of making extra income. If you are a stay at home mom, you can run this business as your full-time job and make more bucks. You can add more items to your Etsy shop as your business grows. It is an excellent way of reinvesting your money.

You need to work on your customer service skills if you want to be successful in this business. Customers will contact you more often when they need to enquire about your products. Ensure that you are prompt and always send orders out on time. Otherwise, your products will be listed lower in search engines.

If you are a stay at home mom, you can get enough time with your kids when your Etsy shop is stable. Make sure that you do some good work on SEO (search engine optimization) and create quality products. Pinterest is a great platform you can use to promote your handmade items.

You should consider starting this business with a product you love. As time goes by, you can add more products. To be an expert in this business, you need to invest your time in learning. Listen to podcasts, read blogs, and books, and you will understand the game and provide value to your customers.

If you are interested in running an Etsy shop, you can search for the best Facebook groups. You can also contact Etsy shop owners who are already successful. Here is a Facebook group with excellent materials on Etsy business.

8. Sell Photos Online

It sounds great to make money from the simple act of selling your photos using online platforms. If you are skilled in photography, why can’t you capture adorable images and create a passive income? You need to do it professionally using a camera or a smartphone whose pictures are of high quality. Some platforms will pay you per image while others pay according to how many installs you get.

Do you know why selling photos can be a great way to earn passively? Well, people need photos to convey a message to their audience. Besides, most of them are not skilled and lack time to do it. That’s why if you an expert in photography, you need to start making money using platforms like Alamy.

9. License Your Music

Are you good at producing music that people want to listen to all the time? You need to realize that it works the same way as selling pictures online does. Royalties come from your music if people choose to use it. As a devoted musician, you can always learn how to earn through that talent of yours.

10. Start a Podcast

You can make thousands of dollars through podcasts, but it doesn’t happen overnight. You need to have a good number of followers who are interested in your podcasts. Podcasting is more natural and profitable if your audience includes those who follow your blog or YouTube channel.

There are countless ways you can earn passively through your podcasts. For instance, you can promote your products or services using podcasts. And the good thing about podcasts is that they are relatable. You can engage with your audience through inspiring stories, and that alone can increase your community base.

11. Create an App

Creating an App is not easy, although it depends upon your technical abilities. What makes it hard is the fact that you have to come up with a unique idea or improve what someone else already created. Once you see where an opportunity lies, you can create an app or hire a programmer who can build it for you. You should consider an app that is helpful to people and lucrative at the same time. The best way to create a scalable app is by relying on your passion. Your passion could be trainspotting, cooking, cats or video games. It is easier to turn something you are passionate about into a profitable app. Besides, you will feel motivated and complete your project.

After creating an app, you should consider monetizing it. You can generate a passive income by displaying ads on your app. Are you wondering how that can be possible? It works mostly for game apps where consumers use an app for an extended period. They enjoy using the app while you make money from the ads you put there.

Another way to monetize your app is by selling a premium version. It’s good to possess a free app, but you also need a premium one. Your premium app will have additional features that allow people to make a purchase. Sega uses the same approach to monetize its classics games.

12. Get Cashback for Shopping

It’s one of the easiest ways you can use to earn a few bucks. You can get cash back rewards if you pay bills or shop with a credit card. If, for example, a credit card has a 2 per cent cashback rate, you will receive $40 for every $2000 you spend. You can do the math and tell me how much money you can accrue annually.

If you want to enjoy the cashback thing, I would recommend that you let your money accumulate and then put it in another income stream. You also need to avoid cancellation of your rewards by making sure a card that you select has no yearly fees.

As a person who shops online, you also need to use cashback sites to make money. These sites will help you earn a few dollars passively and avoid overspending. Some of the items you may get cash back on include food, clothes, groceries, and the list goes on and on. Ebates and Swagbucks are one of those sites you should consider using to make a few dollars.

13. Open a High-Yield Account

If you are a low risk-taker and you want your money to be in a safer place, you should consider opening a high-yield account. You can check out some of the online banks and see if they can work for you. If you find a better deal, you can start earning a passive income.

Traditional brick and mortar banks typically have higher overhead costs. That’s the reason why their interest rates are lower when compared to online banks. So, you need to choose a better online bank like CIT, which is insured by FDIC.

Before you open any bank account, you should know their rates. You have to find banks that offer higher interest rates to make your passive income a bit higher. If you compare, for example, Bettermentwith most traditional banks, you will realize that the latter is preferable.

14. Invest in Certificate of Deposits (CDs)

It’s one of the ways to make a few dollars since it involves taking low risks. So if you are risk-averse, this kind of investment can suit you. Your favourite bank keeps your money until a specific time that CD Ladder you agreed, and then you can get your interest rates. You get higher rates if your money stays in the bank for an extended period.

CDs are similar to a savings account except that the rates you get with CDs are a bit higher. You can build a when you buy CDs from your bank. Your returns tend to increase due to the incremental buying of CDs. Here is an illustration of estimated rates in a CD Ladder that increases over five years:

  •  One year CD-2.20%
  • Two  year CD-2.45%
  • Three year CD-3.15%
  • Four year CD-3.75%
  • Five years CD-3.80%

If you think it’s hard to build a CD Ladder, you can as well use the high-yield savings account. Although the returns in a high-yield savings account are a bit lower than in CDs, you still make a passive income. Otherwise, you can build a CD Ladder with CIT Bank since it has premier CD products.

15. P2P Lending

Peer-to-Peer lending is most rewarding when it comes to earning passive income, but it’s not for everyone. It is easy to invest in P2P Lending if you have the money upfront. There is a certain amount of funds that you before making any profit in this investment.

 Here is the thing: You are supposed to invest your money and expect other people to borrow it. When borrowers receive this money, you will get an interest based on the amount that you lend them. In most cases, those borrowers are people who can’t borrow from traditional banks due to various reasons.

You can invest with companies like Prosper and Lending Club. You can get 4-10% of investment returns, which seems to be more than what you can get from a traditional savings account. You have to assess the risk strategy and pick an investment that suits you.

Lending Club seems to be the most popular Peer-to-Peer Lending platform with huge returns. However, you need to be smart when it comes to investing your money. Ensure that you portion the loan before investing because there is a possibility that some lenders will not return your money. In such cases, you will incur losses for not receiving investment returns.

Prosper is an excellent platform if you have a small amount of capital. You can get started with $25 only and invest more when you start getting returns. But it’s partly similar to Lending Club since your risk level is directly proportional to the investment returns you will receive. In the end, you have to do some proper research before investing your money.

16. Invest Using a Robo Advisor

Today it’s much easier to invest in the market because of the new technology. You can use Robo advisors because they are way cheaper when compared to traditional portfolio managers. Do you have minimum assets, and you are interested in beginning your investment journey? Well, a Robo advisor can help you make money while you are asleep.

All you need to do is to provide answers to some questions. Afterwards, set your account before the system performs the rest of the tasks.  Betterment is known to be one of the most excellent Robo advisors. This tool is great because you don’t need to know much about investment, and the service fee is also reasonable.

Bloom is similar to Betterment but more helpful when it comes to your 401k management. It can analyze your retirement plan for free, and this will help to expose your investment fees without delay. Additionally, Robo advisors will assist in rebalancing your retirement portfolio, and this will help you achieve your retirement goals.

17. Invest in a Rental Property

Most people think that it’s impossible to earn passively from real estate rentals. But today, I need to show you how you can escape the rat race by investing in rental properties. The only thing you should know before getting into this business is that you need capital. You also need to work on finding appropriate rentals, and you will be sure of making profits.

As the landlord, you should ensure that everything is in good shape. You have to cater for maintenance costs and repair any damages if they exist. You can earn while sleeping if you give a property manager that job of ensuring everything is in shape. People will be interested in your properties and start to use them.

18. Rent Out Your Spare Room

If you own a spare room, it can be a proper way to earn an extra source of income. You can rent out your extra room on Airbnb and make money. Fortunately, people are always looking for places to rent, and that’s why you should use this opportunity if you have an extra room(s).

The amount of money you will make depends on the size, condition, and location of your room(s). But it can be a sure way to make a passive income instead of leaving your extra space to be idle. You can find a maid service to ensure that your room is clean before renting it out to a guest.

19. Crowdfunded Real Estate

Maybe you always hear of stories where people make millions of dollars through real estate, but for you, it sounds like a pipe dream. Today, house prices keep skyrocketing, and this makes it hard for most people to afford this kind of investment. So if you would like to get into this business smoothly, you should consider investing in crowdfunded real estate. Here you own property without having to stress about the management of your tenants.

Crowdfunding involves the pooling of capital that goes into real estate investment. Many investors will fund loans which are used to purchase and maintain real properties, and they get returns from that.  PeerStreet is one of the platforms you can use to invest with as low as $1000. Crowdfunded real estate is a new market, and to avoid losing your money, you should research thoroughly before taking the risk.

20. Invest in Real Estate Investment Trusts (REITs)

You can also invest in REITs if you find them interesting. REIT is a firm that possesses and runs real estate that generates income regularly. You as an investor, you can purchase shares in the portfolios of the real estate assets. Some of the remunerative assets include warehouses, shopping centres, healthcare facilities, apartments, and office blocks; you name it.

If you invest in REITs, you will earn an income in the form of dividends. As an investor, you can increase your dividend yields by either buying shares or via equity REIT. Bonds, stocks, and bank investments have lower profits when compared to REITs. Besides, Real Estate Investment Trusts are liquid, which implies that you can choose to sell your shares.

Bottom line

The 20 passive income ideas we have discussed above are practicable. So, you need to get started today. Since time is always flying, you will realize that your passion and consistency will pay off.

You don’t need to overwhelm yourself by thinking that all these ideas can work for you at once. Most of the ideas we have discussed can work for you, but you need to go step by step. You have to spend either your time or money upfront to make these ideas successful.

Published by daltoneominde

I passionately spend most of my time online writing content. That can be articles, blog posts, original SEO content, product reviews and descriptions, or any other content. What's more? My content is free from grammatical errors and plagiarism. I have been ceaselessly writing for the last 16 months with the aim of giving my clients the best quality ever that would definitely take their businesses to a new level. Not only that, I strive to see that the content I write causes much traffic to my client's site. That way; we all grow together and continue to work together. When I'm not writing for any client, I'm out exercising, volunteering in non-governmental organizations, or blogging. I can write about a variety of topics including finance, health/fitness, personal development, SEO, and many others. Some of my work has been published on Medium, Linked in and Thrive Global. I'm not one person who will wait till the last minute to do the work you assign me. See, inconveniences can occur any time including power outage. To avoid such cases, I try my best to do any assignment immediately the client sends it to me. Do you believe we are a good match? Great. Why not contact me so that we can have a chat and see how to go about your project?

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