Sunday, June 23, 2024

10 PASSIVE INCOME IDEAS | TEN COMPLETELY DIFFERENT CASE STUDIES

In this article, we will discuss 10 ways to make passive income with no money what is passive income? Passive income is money that is usually but not always received regularly without any or only little effort there are several types and degrees of passive income which we will discuss by building different sources of passive income you can earn a good amount of money regularly from work. the 10 different ways to passive income 

NO 1: Is passive income through stock investment 

stock investment

Owning stocks and bonds to many doesn’t seem  like one of the best passive income ideas yet this is the very basis of private retirement  accounts you’re buying stocks bonds and mutual funds that contain both so that you can live off  the passive income in retirement companies need money to finance their business so they earn it by  either borrowing or sharing stocks through an IPO we have separated this from investment  in bonds because of the nature of the two  

In the previous paragraph, it was mentioned that  this is a share of ownership of a certain entity some entities pay their stockholders every  quarter so it is an excellent way of making a living without doing anything but you have to  be careful in choosing the company to invest in  

NO 2: passive income through cashback websites 

cashback websites

Earning a passive income through cashback websites is as passive an income method as any you just need to go about your life as you  normally would but with a little more focus on the things that you decide to buy cashback  websites combine spending money with earning money this may not be considered something

That will  help you go to early retirement but you can still earn money with no effort required from you  not to mention that this is completely free all you have to do is sign up for cashback on  shopping websites these shopping portals return to members a percentage of the total amount  that they spend on their qualifying purchases  

NO 3: Selling stock photos online 

Selling stock photos

Stock photos can be a good passive income source if you love to take tons of pictures you  can get paid to sell photos online through stock photography websites such as Shutterstock the photos can be for many niches such as travel food or any sports that you like to cover you can  put your images for sale as an independent photographer on various stock photography websites 

While this can take time to build up if you take thousands of good pictures but you would enjoy the  whole process and time spent if love taking photos after all one of the goals of financial  independence is to build wealth that doesn’t eat up your time so you can enjoy life and  do the things you like to do this is a great passive income idea because it pays you to do  what you want to do anyway

NO 4: Amazon FBA 

Amazon FBA

Amazon has become a great source of passive  income for people who want to generate extra income for themselves if you have something  to sell online you can use Amazon’s platform amazon is huge it’s the third biggest website in  the US Amazon also offers a couple of different fulfillment strategies such as the fulfillment  by amazon platform also known as fba its fba program is just like eBay

Where you have  something to sell and just need to find buyers around the world amazon has more than 175  fulfillment centers which contain more than 150 million square feet of storage space  with FBA you get to store your stuff on those shelves you also get Amazon’s world-class  customer service and returns along with other advantages like automatic prime eligibility  and free super saver shipping

That helps you scale your business fast the other option allows  sellers to fulfill their own orders once you’ve launched your business amazon has tools in place  to help you take your business to the next level amazon’s advertising solutions create new  ways for you to reach and engage shoppers regardless of whether they’re just starting to  compare products or ready to make a purchase  

NO 5: Lending Money to others  for interest-based income

money

One of the best passive income ideas is to loan money to  others and get paid in the form of interest we’re not saying to loan money to a  broke friend who never pays you back as a private lender you can link to anyone  in your social circle, for example, many home fix and flip investors need access to a source  of capital they can tap into very quickly to fund the initial purchase of their properties 

NO 6: Starting a blog and monetizing

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The passive income through blogging has allowed  many to stop exchanging time for money for example as a travel blogger you can set up a WordPress  blog and share your experiences with your readers whenever you go to a new place you can write  about all the cool things you saw and did there you can make money in a few  different ways

You can apply for ad programs like Google AdSense and  set them up on the sidebar of your site if any of them click through you will get a small  fee from your advertising partner like Google as mentioned above affiliate marketing is one of  the various ways to make money online by promoting products or websites to earn a certain percentage  as a commission

NO 7: Money Making websites 

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Many blogs earn revenue from Google ads some may  have affiliate income as we described above what most don’t know is that you can buy blogs from  the owners and take them over the ideal cases have evergreen content that generates passive income for years alternatively you can build a niche blog

That targets a small subset of the blog’s  audience increasing its value to the audience and advertisers you can even increase traffic to  all of your blogs by cross-linking to each of them this is one of the better passive income ideas  for those who want to do more than a blog on the same subject every day

NO 8: Become a Social Media Manager

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You can work from home and manage a few social media accounts of different  brands many small business owners do not have the time to keep up with social media so they  like to hire freelancers

Who can work from home a career in social media manager management  is always in demand as companies fighting for online presence and recognition continue to  grow if you have a knack for social media you can help local businesses maintain basic social  media pages for contracted monthly fees you need to have a creative mindset writing skills and an  understanding of how content works on social media  

These skills can be learned through online courses  even if you do not have a degree or diploma you need to stay informed about  trends and tools in social media marketing technology and advertising Facebook and Instagram are the two most popular social media platforms for local businesses full-time  social media managers are paid a heft salary they are responsible for planning to implement managing and monitoring the company’s social media strategy to increase brand awareness and improve  marketing efforts and increase sales

NO 9: Drop-Shipping with The Blast of E-commerce

Drop Shipping

Drop shipping has turned out to be extremely famous here is how it works you make an online store  that offers items from certain manufacturers a person visits your site orders an item and your  system sends the order request to the manufacturer of that product the maker at that point completes  the order by shipping it directly to the person who had placed the order on your site a cool  aspect concerning this kind of business is that you don’t have to stock products that you  are selling

NO 10: Vending Machine Business 

Vending Machine

This is one of the often underestimated passive  income ideas but it is a great way to make money especially if you have found the right place to  install your vending machine but it is a great way to make money especially if you have found  the right place to install your vending machine  

For example, if one vending machine  in a prime location can bring in 50 to one hundred dollars per month if you buy 100  vending machines all in prime locations you may be able to hit an average of one thousand dollars per  day like any business most states require vending route operators to obtain the proper permits  and licenses required by their local ordinances when planning to start a vending machine business  it’s important to check your local ordinances  

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