Have you ever wondered if you could put your effort into something and get money out of it for lifetime. You can earn money while sleeping, travelling, having dinner with your family. You can be your own boss and can have the control of your time. Earning money from comfort of your room is a dream of many and it can be achieved through some online platforms. In this blog I’m going to tell you about 5 best ways to earn money passively as a beginner.
Passive income is basically the money you get for a work which you did in your past. For example if you produce some kind of music and you sell that to a music company and get royalty for it then that means whenever that music will be used by that company you will get your share of money of whatever the company will earn from your music. As a beginner in this topic you can use these 5 ways to get started and earn some extra money for yourself.
5 ways to earn money through passive income
1. Blogging
Blogging is basically your website which you use to share your knowledge about particular things. Like if you are into technology and gadgets then you can make a blog about new or old tech gears. You can write about comparison between two gadgets and much more. With this the other people who love to know about these things will potentially read your blog can become active readers of your blog. With time as the number of your readers will increase your earning will also increase. Bloggers can earn anything between $1000 to $10000 in the beginning through their blog.
When you get decent number of readers on your blog you can monetize your blog and earn money from it. More the readers more the money. You can also use google adsense program on your blog to earn more money. Affiliate marketing can also used to earn money from your blog. There are many other ways you can use your blog to get some extra income.
Check this link below if you want to learn about how you can start your own blog and start earning from it.
Why you should start a blog now?
2. Making YouTube content
One of the best ways to earn passive income is from Youtube. Everybody watches YouTube whether its kids, adults or old people, we all love watching videos on YouTube in our free time. You can make videos about anything on this platform, there are plenty of options for you to choose. You can make and upload tutorial videos, cooking vlogs, travel vlogs, reaction videos and many more and earn some money out of it. Now its more convenient to get your income from YouTube that is by making Youtube shorts.
With in some time Youtubers start earning between $100 to $100000. Your earning will totally depend on your content and you just need your mobile phone and little bit of creativity to get started and earn for yourself.
3. Stock Market Trading
Stock market has the potential to make you more money in short time. But it also has its risk involved. Stock market trading is buying and selling the shares of a company. You can buy at low rate and sell when the prices go up and earn profit from this deal. To get started in stock trading you would need to invest some money first. You have to be careful in investing your money. I will suggest to trade in the stocks of the well known company in the beginning. In stock market you can buy or sell your shares on the same day or you can hold them for as long as you want.
Stock market is one of the best way of long term investment, if you choose your stocks wisely you could get a lot of benefit from it. Trading can also result in the loss of your money if the value of the stock in which you invested goes down. In the beginning start with less money and learn about the market. How market goes up and down, what effects the market and also learn about the companies beforehand in which you want to put your money in.
4. Affiliate Marketing
One of the most successful way to earn money online is affiliate marketing. Affiliate marketing is basically the making recommendation of the product and if someone buys the product from your recommendation, you share the profit of that product. You can promote and put the link of the product on your social media and whenever someone buys the product you earn money. Easiest way to start doing this to use amazon’s affiliate program. You can promote any product from amazon on your social media and make some money out of it.
You can do affiliate marketing on your blog or through your youtube channel too. So that’s the one more way to earn from your blog and youtube channel. Apart from amazon products you can do affiliate marketing for the books or any other product you like.
5. Sell your product online
If you are an artist or wants to do some business, you can use online platform to sell and earn for your service. You can use shopify or amazon to start your online store and sell your product. If you are good at something, you can teach online through various platforms. Online tutors can easily make $20-$40 an hour. You can also use your blog to sell your art or product. With this you can start your business with almost no money and earn profit for your services.
These are the five ways to earn passive income for the beginners and not stay dependent on your job for money. Coming time is going to be the time of earning digitally and its best if you start now. Side hustle is best for your wallet and you can potentially earn more than you are earning right now.