In this article we are going to talk about the How can I make passive income? Nowadays “Earning even while sleeping” is the motto of so many people. These people made smart plans to bring the increment in their cash flow. When there is passive income, then the salary becomes a part of the total income for the person. An employee should not stop at just salary because deep down inside they want more. Inflation is increasing day by day, people’s needs are also increasing and so the standard of living is also raised. So what is passive earning? In simple words, “making extra money other than your regular job”.
Huge and richest businessman in India like Mukesh Ambani earns mostly from petrochemicals and oil and gas businesses but his other business like Jio and reliance gives him income while sleeping also. He need not required to go everywhere for feedback, his employers do everything. And see, his smart effort brought him to the position of India’s first richest person. So, most importantly the thing required for making passive income is not hard work, it is “smart work”. We can make passive income through so many sources such as in free time giving classes to students, making YouTube videos, affiliate marketing, freelancing, etc.
Top 10 ways to make passive income
When we talk about a middle-class person, who dreams of a stable life, they should undertake smartly the concept of passive income. Options to the power of infinity are available. Out of which, given below are the simplest ways that anyone can do. Just the entities required while doing this are patience and consistency. You may end up earning nothing. But giving try to various approaches is essential. If you get failed 99 times, still waiting for that one time when you attain success.
1. Start Making YouTube videos
Making a video is easy when you have the courage of standing in front of the camera and speak freely everything that comes to your mind. Some trending things that your audience might love are standup shows, vlogs, song lists, cooking recipes, motivational sessions, tutorials on study materials for all age groups or any software handling skill tricks, and so on. People like listening and watching more than reading. Dance tutorials, art tutorials can also help you in earning money. This will be beneficial for you as well as your customers. As of now, due to corona and all, people have developed the habit of learning online everything. The audience is attracted to your content, so wisely choose the topic and content for featuring your videos on YouTube.
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2. Become a Freelancer
The skills in which you are an expert and want to spend your free time the only thing for you are freelancing. There are various companies available, who want to get their work done by a skilled person. They will give you work with a contract. Freelancing is being self-employed and working as per your schedules. Freelancing includes works such as video editing, content writing, data entry, website developments, and so on.
3. You can do Affiliate marketing
I remember a few months back my brother did affiliate marketing and earned 35k. Before that, I didn’t even have faith in marketing and all. And I knew that marketing and sales are not my cups of tea. Not only me, you too might be hating marketing. But I am damn sure, when we will learn this skill, we will earn unstoppably. Because we all have convincing power but we don’t have daring. Don’t you think so? Affiliate marketing is something in which you being an affiliate earn a commission on selling the product of someone else. The most important part of affiliate marketing is that you should know every single detail of your product and you should also have faith in it. Advertising about the product through social media is the part and parcel of affiliate marketing.
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4. Filling surveys and winning rewards
Numerous sites give us rewards for just filling the surveys to create statistics. I too earn by filling surveys in my free time. Just answers the questions sensibly (because there are some terms and conditions) brings the money in your pockets. Beware of fraud sites and links too. No investment is required. Always remember, if any site is asking you to pay before filling the survey, then don’t fill that survey.
5. Selling something in which you are expert
Selling handmade products such as customized gift boxes, greeting cards, and much more. People are so busy in their lives that they don’t get enough time for giving something handmade to their near and dear ones. So, we have skills for those who have money. There are so many people, who love to have homemade cakes and confectionaries. Those who are skilled with baking cakes as well as making chocolates can go ahead with the ideas. Instagram has given you the platform for advertising your creation free of cost. For advertising, and showing it all over the world, you just have to be consistent and deliver the item on or before time. Then only you can achieve success.
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6. Renting a house/room or any of your belongings
If you are having a flat, house or a room in spare, then keeping it on rent and letting the travelers, students or job persons live there, will help you in gaining income on monthly basis. You have to be smart while renting with respect to total expenses and total income. Total income should always be greater than total expenses, then and only then it will be profitable for you. Now, suppose you are letting a student on rent at your place. And suddenly, this pandemic situation comes in between. And the students want to leave your place, but it will be a total loss for you if you let them go without taking a penny from them. So, in this situation, you should play smartly. Don’t allow them to take their luggage with them.
Ask them to pay half rent of every month. So that you can pay your electricity bills and so. Today, the world has been so advanced, that there are apps that pay you for taking your two-wheelers/cars for few hours. This is also an opportunity to earn. when you are commenced to a job of 7-8 hours, you can lend your vehicles to these people. They take your vehicle and give it to someone who needs the vehicle for some time. You will get side by side income just by sitting in your office block.
7. Blogs Writer
Writing blogs is a great skill. If you love diary writing and you maintain your diary, you should know that you have already developed a skill of blogging. You just have to show it to the world through your blogs. Because the intention behind the blogs is to influence the audience. Blogging on Instagram, Twitter and so can become helpful for making paid promotions of products. If your audience has trust in you, then they will surely buy the product. So, blogging is mainly “winning the trust of your audience”. You will become the influencer for the.
8. Gaming apps that on winning pays
If you love playing games on mobile, then you should go for such games that can give you income, because playing games is not the thing that everyone can do. Thousands and millions of gaming apps are running around the world. Playing games for fun and earning is way better than making it your addiction. But these gaming apps are mostly dependent upon the luck factor. I recommend if you tend to go in loss, stop playing. Because we aim to earn, not to lose what we already have.
9. Investing in stocks
Some people have a misconception regarding the Stock market that it is gambling. Do you think the same?
NO, the stock market is not gambling it is all about trading. Trading always brings profits. But for investing in stocks, without proper knowledge can risk your income. So, before investing, first, learn every detail about the stocks. Choosing the correct stocks is something we are supposed to understand and nothing else. You can undertake YouTube videos, Stocks market courses from Udemy, Coursera, and many more sites like this.
10. Delivering food
Youths during their college life who are passionate about driving, prefer to earn by delivering food. 2 things are important they are driving license and your own two-wheeler/car. Your traveling expenses and everything is covered by the company itself. Delivering food on daily basis can give you a great amount as an earning. Not only youths, everyone can do this job in their free time and earn money.
I feel that no work is small or big and it’s never too late to start any work. So start your passive income, from the point wherever you are. There are numerous way outs for earing passively, out of which I have listed most simple ten ways that everyone can do easily. Just sit and decide, your way of earning and what you can do differently.