The salary increase is not in sight, and you want to earn money passively, that is, without extra work through passive income? If that is the case, we will round up several passive income sources that you should consider.
1. Passive revenues by writing the ebook
By writing an eBook on a specific topic and saving your customers the time to research all the information on their own, you create valuable added value and get rewarded for it.
There is no need to be an expert in a particular field, but you can simply research and collect the most important information on the internet. However, if you are an expert in a certain area, then that’s even better!
2. Record your own video course
Are you skillful in a specific area or niche? If yes, you already have all the prerequisites to create a good video course and upload it on the platforms such as Udemy and sell it.
Normally, you have to create the infrastructure for selling the course. In this case, it will be provided to you by the operator of the relevant website. It can be even more lucrative to sell the video course on your own website.
3. Investing in financial markets
By using the internet, anyone can start investing these days from their armchairs and living rooms. Investing is by far one of the most profitable ways to earn passive income, especially when it comes to stocks, low-cost ETF contracts, or cryptocurrencies. Investing means you confront inflation better, and you have a long-term backup project, or projects, that can save you in turmoil times.
Very popular among investors these days is the Forex market. Forex stands for the financial market where you can profit from the fluctuations of currencies’ prices. To start trading, you will need a regulated Forex broker that will serve as a linchpin between you and the markets. Besides currencies, the best brokers will offer you various instruments to trade, such as stocks, commodities, indices, and so on.
4. Offer the license right on your photos
Each of us has taken pictures of our lives. So why not turn them into cash?
On pages like Shutterstock, Fotolia, or istockphoto, you can upload your photos, and individuals or businesses can acquire the rights for their use. You decide for yourself which rights you want to grant at what price.
The great thing about this type of passive income is that you can sell the same photo multiple times.
5. Advertising revenues from visitors to your blog
With your website and blog, you are addressing a very specific target group. The latter could potentially be of interest to a large number of companies. And you can earn money from allowing these companies to have “access” to this target group.
This access can take different forms. You can place banner ads of the companies involved, or you can write a neutral article and reference the company with a backlink to the company’s website. The company may even write the article directly for you. It is also possible to draw attention to a business in the form of an interview, product comparison, or practice tests.
You will be surprised at how easy it is today to build your first passive income. The most financially successful people on the internet make millions from passive income – and all of it fully automatically. The ideas we shared probably won’t make you wealthy during the first months of setting up your passive income system. But once you have set yourself for this way of earning additional cash flow, you can count on some $1000 monthly or even more. It all depends on your needs, goals, and the initial effort to set up your passive income model.