There are many different ways to pursue passive income. Personally, I have been learning to generate passive income through different streams. Here are some ideas for how you can generate some of your own passive income.
AdSense
AdSense is a way to earn money through Google. You can make money through ads through a blog, website, or YouTube channel. Every time a person clicks on an ad, you receive some money. It’s not a lot, but over time, you can build up a good stream of passive income through it. On my website, I use two ads. You can experiment adding more ad spaces on your website or blog. Or, you can seek sponsorships or commissions on various products/services.
You can change the look of the ads or layout to make it more aesthetic and pleasing to the eye. You can place them in between articles and blog posts as well.
Blogging
As stated above, you can start your own blog and create passive income through different ad spaces, sponsorships, or commissions. However, you have to work hard on writing high quality articles and blog posts for it to work.
You can first start off by free writing. Then over time, you can improve your skills in writing. The more you practice, the better you become at it.
Books
You can dabble into passive income by creating eBooks or physical hardcopy books. You can hire people to help create the books such as through services like <http://www.fiverr.com>Fiverr.
Creating Merchandise
You can create merchandise through various sources such as Shopify or Etsy. You can design t-shirts, mugs, caps, and more.
Cryptocurrency
There are various cryptocurrencies that you can invest in, such as BitCoin and Litecoin. You should make sure to research more about the various cryptocurrencies before you invest in any of them. Some cryptocurrencies are valued more than others. But, it is a way to invest or trade goods and services.
There are many other cryptocurrencies, which you can look up and research further. Make sure not to make the mistake of investing too much or too early. Check to see how it works first, and then be smart about how to invest.
Daily Motion
Daily Motion is one of many video sharing websites where you can make a small percentage of money through advertisements. I personally have not used Daily Motion myself, though it is a video hosting service that I am considering to use.
Greeting Cards
You can design artwork for greeting cards and receive money for it. You can use services such as Etsy, or find a printing service / manufacturer who can sell greeting cards for you. It can be anything from a Thank You note, or a Happy Birthday card.
Online Courses
There are different websites where you can create online courses. For example, there is Cousera and Teachable. However, it takes some upfront work. You have to find a way to outline the different modules or lessons. You can decide to use a camera, or you can create powerpoint slides to create your own courses.
PayPal
There is a way to collect money through PayPal via donations. Here is my link for PayPal donations, just in case any of you find this material to be useful. It’s easy for anyone to set up, and from what I’ve seen, it seems as if there is some foreign language support for those who want to try it out.
Real Estate
People like to invest in real estate. Some people like to invest in just one or two properties. You might want to consider investing in multi-family homes as well. The more properties you own, the more money you can make through real estate through rental income.
Royalties
You can make tons of money through royalties. There are various ways to make money through earning royalties such as selling music or investing in the stock market.
Selling Music or Art
You can learn how to sell music through avenues such as Spotify or iTunes. You can sell your art online through a service like Etsy or DeviantArt.
Stock Images
Stock images are photographs, artwork, or pictures that you can sell for money. The cool thing about this is that you can start by uploading pictures on various websites such as Pexel.
Stock Market
Just like I mentioned with cryptocurrency, you have to be careful when investing in the stock market. Some people invest in penny stocks, and they lose their money. There are many people who invested in the stock market and then lost their money or retirement funds. Personally, I have lost some money in the stock market. I do not have that much knowledge on stocks, so I do not invest in the stock market. If I knew more about it, I would. And, I strongly advise anyone who invests in the stock market to research more on it before losing out.
Vending Machines
You can set up a vending machine anywhere and earn passive income through that. It’s best to set up one in an area that is busy or highly populated throughout the day.
Vimeo
This is another way to upload a video, and that is through Vimeo. Try experimenting with uploading videos on various websites to see what works best for you. Vimeo appears to be more professional than YouTube, and the commission structure is a little different.
YouTube
You can generate passive income through YouTube videos. I have a few of my own YouTube channels. You can find it here and here. You won’t gain much money from it in the beginning, but as you grow your subscriber base and your collection of videos, you will earn more and more money over time.
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