I seriously wish high schools and colleges would teach students about real life hacks. There are many ideas that can make our lives so much simpler if we only had the knowledge. Creating a Passive Income is one of those life hacks that a person needs to jump into the second they learn about it. Many people now have blog sites, webpages, Amazon seller accounts, YouTube channels, and the list can go on and on. We all need to have a passive income.
What is Passive Income? Passive Income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.
What are some ways to obtain Passive Income?
Sell what you know– Are you extremely knowledgeable about fitness and health? If so, there are thousands of people who would like to hear what you have to say about that topic via an ebook, audio file, or even an online course.
Affiliate Marketing– Website owners or bloggers promote a third party’s product by including a link to the product on their site. When a visitor clicks on the link and makes a purchase from the third party, the site owner earns a commission. You can also utilize this on social media! Affiliate Marketing: The Beginner’s Step By Step Guide To Making Money Online With Affiliate Marketing
Rental Income– We’ve all heard of airbnb by now. Having a rental property is one of the most lucrative ways to earn passive income. However, there are generally more expenses with this kind of investment. The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!
Create a Blog– Having a space to call your own so you are able to monetize it however you see fit. Here is where you will use affiliate marketing. Companies will also pay you to place ads on your page depending on the amount of traffic your site generates. The opportunities are endless with creating your own blog. The Essential Habits Of 6-Figure Bloggers: Secrets of 17 Successful Bloggers You Can Use to Build a Six-Figure Online Business
Write a book– Write a book and publish it through Amazon Kindle Publishing. You’ll be surprised at how many people will purchase a book that only cost 2.99 or cheaper. KDP – How To Self – Publish Your Book On Amazon – The Beginner’s Guide: The key elements for Independent (Indie) author success (Financial Freedom Beginners Guides 4)
Create a YouTube Channel— There are rules such as you need 1,000 subscribers, and something like 4,000 watch hours in order to be eligible to make money. However, YouTube is extremely popular and you can find video’s on virtually anything you’d like to find. My son actually has a YouTube Channel and he brings in between $600-$800 a month. YouTube Secrets: The Ultimate Guide to Growing Your Following and Making Money as a Video Influencer
Lastly, Google can be your best friend. Anything you want to know about Passive Income can be found using a Google Search Bar and asking the right question. Go create something! The extra cash is great so you can live your best life!