Earning money while you’re sleeping is incredibly appealing.
What exactly is passive income?
It's an investment made (either in time, money, or both), but the work gets done initially, and then that investment starts working for you!
Passive income can be earned automatically with little to no work. For example, creating and listing digital products for sale generates passive income with each sale.💰
Lets explore some ideas
Create an Online Course
Having knowledge or skills about a specific topic you can use sites like Udemy or Skillshare make it incredibly easy to create, host & sell your knowledge as Online Courses!
Start a Youtube Channel
Enjoy making video content? Consider starting a youtube channel. You can earn passive money via video display ads once you meet the threshold of viewers and watch time.
Rent out a Spare Room
If you have a home or even just a room in your home, you can list your space available for rent on Airbnb. The empty space will generate income for you!
Rental Property
They are a great way to build passive income. Each property brings in monthly rental income, giving you extra money, although you will have to manage it actively sometimes.
Open an Online Store
Etsy, Shopify & WooCommerce have made it easy to start your own small online business. You can always hire people online for original art to sell on shirts & other digital goods.
Buy & Sell Domain Names
The price of domains fluctuates based on demand, holding domain names you think will become popular in the future is an easy way to make some extra money with minimal effort.
So?
Passive income is a great way to diversify your income. While there is some upfront investment to be made, you can have a viable way achieve the goals in your life with a bit of planning.