Ah, The Dream
Making a passive income is what many people strive for in life, I mean who doesn’t want to be making money while on a holiday, or playing with their kids?
Take a second now and just imagine what your life could look like if you were able to generate multiple passive streams of income!
Sounds like something that isn’t even achievable hey?
I totally feel you! I felt the very same way!
Looking back now there were many years I was just trying to figure out what I wanted to do. I knew I did not want to stay at my boring job where my supervisor wanted me to basically live for work as she did.
Instead, I wanted to have more time to spend with my family, friends, and have time to do more important things than work my life away. This is when I started dreaming about creating my own passive income.
Think about it, how do you feel now about having to work for someone else for the rest of your life?
For me thinking about that was a game-changer!
I couldn’t bear the thought of continually having to work for someone else. Can you?
This was the pivotal time that I started seriously thinking about passive income. My goal now is to earn enough money with passive income so that I don’t have to work and neither does my husband.
If you don’t find a way to make money while you sleep, you will work until you die
– Warren Buffett
Why Build Passive Income Streams?
What Does It Take To Start Earning Passive Income?
How To Start Making Passive Income
I have never been more motivated to make a passive income than I am now!
Have you ever hear the phrase “we don’t have a lot of time within a day to work for money”?
Well instead of working for money we need to figure out a way that our money can work for us, so we can have free time to do way more important things than work.
After working for 6 years only I have very quickly realized there is so much more to life than a job with co-workers who hate being there as much as you do. I have been working very hard lately to build income streams that allow me not to work.
I want to help you say good-bye to your 9-5 job just like I did!
Now fair warning, it won’t be easy, but it will be worth it. With a little hard work, it is very reasonable to say that you will be able to create passive income streams to free up your day and achieve financial freedom. Now its time you choose something that works for you.
Examples Of Passive Income
From my research so far into passive income, I am so stocked to have put together this list of passive income ideas for you to look through.
Hold on because today I am sharing 11 different passive income ideas that you need to try this year, to take back control of your life.
Warning: I am biased to #2 & #3 because anyone can start anytime for really cheap. Oh, and experience is not needed!
The Best Passive Income Ideas That Require an Upfront Monetary Investment
1 | Sell Photos
Of all things digital products selling photos online as stock photos is something that literally anybody can create and sell!
Currently, I am taking a course about capturing excellent stock photos and I am loving it! It is all about the Flat Lay Method! The course I am taking is by Crystal Clear Photography!
Stock photos are something that every blogger needs whether it be for their blog or their pins on Pinterest. Some people even sell them in bundles for example 30 stock photos could sell for like $15!
This is passive income because you take the photo and upload it once and then you just keep sharing the link!
You may even be able to sell your photos to some sites like stock and Shutterstock! Or you can create your own small website to sell your own photos! I like the idea of having your own site because this way you can run campaigns and promotions like Black Friday where they will sell like hot CAKES!
Another option is you can create an affiliate program through Sendowl and other bloggers can sign up to promote your stock photos!
Kayla at Ivory Mix has her own stock photo website! You can check out Ivory Mix HERE! May you’ll get some creative inspiration!
2 | Affiliate Marketing
One serious way to make a killing in passive income is by starting affiliate marketing. This one blogger that I look up to makes one $50,000 every single month with affiliate marketing. *Mind Blown*
Now I am very new to affiliate marketing but I am so intrigued by it, I just can not stop learning all that I can about it!
For me, this is the one stream of passive income that I want to nail down and become good at! You saw up there how much you can make in a month! That is life-changing money!
What even is affiliate marketing?
If you have no clue what affiliate marketing that okay, a year ago I had no clue either.
Basically affiliate marketing is you referring products from places such as Amazon that you believe your audience would like. After they make a purchase of a product you shared with them you will earn a small commission at no extra cost to the buyer.
You’re probably no stranger to referring your friends or family to different products or services just because of we as humans like sharing with others the things we like and the products that work well for us. This is a simple example I am basically in love with donuts. So when my friends come to town or my family asks me the best place to get donuts I share with them where to go.
Now the donut place I rave about to people won’t be paying me a commission for sharing it with others because 1) They don’t know I’m sharing it 2) they don’t have an affiliate program.
However, there are tons of affiliate programs that do allow you to make a commission by promoting the things you use in your daily life.
For example, I am a huge fan of Ana’s Affiliate Marketing Bundle and her Affiliate Programs Masterlist because it has helped me change the course of my blog by helping me monetize it!
But you don’t have to limit yourself to courses such as these, there are so many affiliate programs such as Amazon Associates, Shareasale, FlexOffers.
Another service I promote to my blog readers wanting to start a blog or website is SiteGround, because it is the hosting company I use for Lovely Simple Life and I love it! It is so super cheap to get started as a new blogger, I even recommend it in my Blogging Tutorial.
Make Over $50,000 Every Single Month In Passive Income
A very well known and respected affiliate marketer/blogger, Michelle at Making Sense Of Cents consistently every month makes over $50,000 from affiliate marketing. Is that not mind-boggling and completely insane?
She has also created a course for new bloggers where she reveals all her tips on how she makes that insane income each month! Her course is called Making Sense of Affiliate Marketing and it is worth every single penny you pay!
In under 30 days of starting my blog, I made my first 2 affiliate sales. I made over $100 in passive income. Is that not amazing?
Blogging is one of my favorite ways to make a passive income!
You too can start a blog for very cheap on SiteGround.
For only $3.95 a month (over 50% off) you will also get a FREE domain ($15 value) exclusively when you sign up through my tutorial.
Michelle is a freaking expert when it comes to affiliate marketing techniques and she is so right when she says it is not about place random links within a blog post – instead you need to be implementing these MUST follow affiliate marketing strategies.
Affiliate marketing is also great for new bloggers because Michelle says you don’t need tons of traffic or many blog posts (like me) to start earning your own passive income.
Remember even if you are new to blogging and one has one seriously awesome blog post you poured your heart into you are ready to start earning passive income.!
3 | Blogging
Affiliate marketing is not the only way you can make money blogging. On top of affiliate marketing, you can earn a great passive income stream by Displaying advertising on your blog! This blog made $10 in passive income by displaying ads in only a couple days times in my first month of blogging.
I am not someone that believed passive income would work for me! Honestly, I was shocked when it did! I did not think that I could do it but I want you to know that it is very possible!
I was able to build this blog in a very small period of time, I was even working a job when I started blogging! So don’t worry and think that you need tons of time!
What I have learned about blogging since I started is that you do not need to be an expert writer or an expert in your niche in order to be a blogger!
Right after I started using ads and affiliate marketing I started to make a consistent income. You will not believe the difference in affiliate marketing once you have implemented the strategies that Michelle reveals in Making Sense of Affiliate Marketing. This makes for a great part-time side hustle while working a full-time income.
I am still learning tons about blogging each and every day and have invested over $12,200 into my blogging education!
4 | Rental Properties
Buying a rental property is probably one of the oldest ways to make a passive income. With that said though there is a reason for that.
Rental properties are an amazing way to make a sizeable income without having to do a thing in your day to day life.
However, this is one of those things where it takes money to make money. Meaning in order to make money from rental properties you will first have to purchase a rental property. Which is very costly.
So consider this one carefully before just jumping into the rental game.
5 |Cash Back Sites
6 | Rent Out Some Of Your Stuff
This is a super cool way to earn passive income off of things you already own such as Cameras!
I bet you are thinking I am nuts right now. But let’s get this straight right here right now! I am telling you, you can make a decent passive income at renting out your stuff you aren’t using. Oh and don’t worry it is also fully insured!
I promise you this is not a scam, such a thing exists and Fat Lama can help you get all set up! It is available in the UK and the US.
I and thousands of other people are calling it the “Airbnb for your stuff”.
And it makes sense why it would be a thing when you think about it. there are many people each day looking for things they can use without having to buy (and pay full price for.) And I get it, why would anybody want to pay for things that they only need or use occasionally?
This is where you can turn around and start making an income on something you already own and aren’t paying for! Passive income for the WIN!
Below are some of the things that you can rent out and make some passive income:
- Video Games
- Expensive Clothing, Shoes, Handbags, Accessories
- Household Tools
- DIY Equipment
And really the list could go on and on because in this world we live in you can almost rent out anything you want to.
You will get a FREE $20 bonus from Fat Lama when you use this exclusive link to sign up! Use it towards your very first rental!
This offer is applicable to both the borrower and the lender! However, since you are reading this article my guess is you are going to want to be lending your stuff so you can make some CASH!
>>>Learn More By Visiting The Fat Lama Website Here For More Details<<<
7 | YouTube
If you are a bubbly person that enjoys being an in front of a camera it is never too late for you to start a YouTube channel.
Actually you make money on YouTube the same exact way you make money with blogging, and that is by displaying ads and using affiliates.
Do you know those ads that show up while you are watching a YouTube video? Ya, those ads are making the channel owner passive income!
And in the description below the video often times you will find affiliate links, so if you click one of those links and end up purchasing something that YouTuber would be making passive income again!
Some popular YouTube video ideas are
- travel logs
- or even just a lifestyle channel
So why wait to start making your passive income? Get started with your YouTube channel right now!
8 | Sell An Ebook
Ana from The She Approach makes a passive income each and every month from her two Ebooks!
What you do is you write up your book, edit it, design it, and then you can put it up for sale and it will continue making you money month after month!
So once your book is completed and on the market, it will start to sell, and you will start to see passive money for your efforts.
What I love about Ebooks is since it is digital you don’t have to worry about shipping or packaging at all, all your customers have to do is download!
So Where Should You Sell, And Where To Promote It
To sell your ebook you can create a small and simple website where you can post your links to your book!
I myself am in the process of writing my first Ebook on how to use Pinterest for bloggers.
An example of a sales page is HERE.
I am so excited to finish it up so I can start earning even a couple of hundred dollars from it on top of my blog income.
For Ana’s Ebook, she uses Sendowl to sell it, and I am planning on doing the same!
I love Sendowl because it is very affordable, prices start at only $9 a month!
It is also so simple to use, I am currently selling a blogging binder and a budgeting binder on Sendowl and it is so simple to use, all you have to do is upload your PDF file or your digital product or Ebook, set your price, and enter in some payment details!
Every time someone purchases one of your products the money will go straight into my account! For me, Pinterest has been the most successful at helping me sell my digital products!
A couple of other places you could think about selling it on our Facebook/Social Media, or you could try seeing it through Kindle sing Amazon.
If you are really serious about making a go at generating passive income through writing Ebooks I recommend that you invest in Ana’s (creator of The She Approach) guide to self-publishing your Ebook!
9 | Rent Out Your Car
If you have a car and you don’t use it very often why not consider renting it out?
Car sharing sites such as Turo or Getaround give you the ability to put your car for rent and earn passive income from it.
You are in complete control, you decide when it is available and how much you will charge based on your type of car and the area where you live.
10 | Create An Online Course
Similar to creating and selling an ebook online you can do the same thing with creating an e-course through Teachable and selling it online!
Your course could include video tutorials even to make it more appealing to your targeted audience.
E-courses are also great because they are digital products that you make once and can sell for years to come. So you could still be getting paid for a course that you created say five years ago!
Make sure that when you set out to create a digital course that you give yourself enough time to do so, I am all about giving myself deadlines, but just make sure that any deadlines that you set for yourself are reasonable and achievable!
Just like there is Sendowl for selling eBooks there is Teachable for selling online courses!
11 | Sell Homemade Crafts
Not sure what kinds of crafts you could sell to make a passive income? Noe to worry here is a list of 75 different crafts you could make to sell online! If you are wanting to start an online business selling your crafts then Etsy is the way to go.
Etsy is an online marketplace that you use to list some of your goods and you’ll get paid when it sells!
On Etsy you can sell physical handmade products or that you make – such as scarves, accessories, party supplies, jewelry, and so much more
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