Have you ever wondered how to make money even while you’re asleep? It is actually possible to create passive income, and there are multiple ways to do this! Most passive income opportunities require a lot of time and effort upfront before you can start earning any money.
This article will explore some passive income ideas that are easier than most! When many people think of passive income, they think of buying a winning lottery ticket or purchasing the right stock at the right time.
While these are certainly ways to generate passive income, there are actually plenty of other options available to you. If you’re interested in working towards creating your own source(s) of passive income then keep reading till the end!
We’ve created a list with our top 7 favorite passive income ideas so that you can choose which is best suited for your lifestyle and goals.
7 Best Passive Income Ideas to Make Money Online
Please note that passive income opportunities are not always easy money, and they do require some hard work to get started.
1. Create an online course
You can easily create and teach your own course on a topic you’re passionate about. If you have a unique skill or experience, it would be your niche. With the rise of online education and youtube tutorials, you can easily create a course on any topic and promote it through social media or other digital marketing techniques.
Once your course is up and running, there’s no limit to how much you can earn from it! You can start by creating a course on sites like Udemy & Skillshare, which can be shared with thousands of paying students.
2. Create passive income through affiliate marketing
Affiliate marketing is an online business model that lets you recommend and promote other people’s (or company’s) products and services and earn a commission off each sale you make from your own passive income website.
One of the most popular affiliate marketing programs is Amazon‘s, which lets you sign up as an affiliate for just about any type of physical product on their web store. Clickbank, Maxbounty, Commission Junction, Waptutors and ShareASale are other popular affiliate marketing networks that you can begin with.
3. Create passive income through selling eBooks online
If you can write and edit well, you can easily create an eBook and publish it on Amazon Kindle. It’s a great way to share your knowledge and useful tips with others for a passive income.
Amazon Kindle Direct Publishing allows you to create and design your eBook, set your own prices, create special offers, track the number of pages read, keep 70% of royalties from sales, add audio & video content, and much more.
4. Create passive income through blogging
Blogging is a great way to share your knowledge and connect with people around the world interested in your specific niche or interest. You can create your blog on sites like Tumblr, WordPress & Blogger.
Once your blog is up and running, you can start earning passive income through various means like advertisements, affiliate marketing links, and sponsored posts. Learn how to create a blog.
5. Create passive income through YouTube videos
If you’re knowledgeable about a certain topic or can offer unique insight into that field, then create high-quality YouTube videos on the subject to share with others. Once your videos are up and running, you can monetize them to earn a passive income based on the number of views & click-throughs to other websites. There’s no limit to how much money you can make from your YouTube channel if you continue working hard at producing great content!
6. Sell your craft items on Etsy or eBay
If you have a unique talent or craft, sell it to others through an online store. Sites like Etsy and eBay allow you to create your own store online and promote your products & services to millions of potential customers globally!
Etsy provides an easy venue to sell handmade items. They offer a platform to showcase your creations and offer them to others looking for the same type of product. You can list your products, communicate with potential buyers, and monitor profits – all through Etsy’s site. You’ll need to set up a personal account, but you only pay a listing fee per item!
The best part is that Etsy takes care of payment processing fees, shipping costs, customer service queries, custom duties & taxes, & more. There are no upfront costs or inventory requirements to get started with Etsy! You simply post your items and sell them as they’re sold out.
With eBay, you can sell practically anything online. You simply list your products (which you need to physically own, not resell), set your prices, and promote them through social media & targeted ads.
7. Sell your skills on the Internet
If you have a skill that others may need, sell them your time and expertise through sites like Upwork, Freelancer or Fiverr. You can create a profile on either site with your specific skills and services. Skills such as writing, designing, marketing, event planning, and computer programming are highly in demand.
Many people search for freelancers with specific skills or experience to help start a business or save money on hiring permanent staff. These sites allow you to easily find these jobs and take advantage of the opportunities available through them! Once you’ve successfully completed a job, your earnings will be paid directly into your account.
Those are some of the best ways to create passive income and could even allow you to stop working and live off your earnings easily.
So why not try one today and see how it goes? Are there any other easy passive income ideas that you know of? Comment below! Thank you for reading.