Working a traditional 9-5 job can be hectic you barely have time with your young ones.
I worked in a company as a financial assistant for over 5 years I never had time to go out with my friends and family for vacation.
My boss was very strict when it comes to business matters.
Though he was such a nice guy, he helped e and my family when we were in crisis. I can never thank him enough!
Anyways, I wanted the freedom to spend time with my family and watch my little one grow to a beautiful young lady.
Who doesn’t want that?
Most people these days leave their traditional jobs switching to passive income .
Passive income gives one the flexibility they need in their lives.
What Is Passive Income?
What do you understand by the term passive income?
Its simply getting paid or making money over and over with very minimal work.
I must say passive income can be alot of work in the beginning and very minimal once it picks up.
Choosing the right passive income ideas you can be able to make alot of money while having your beauty sleep!
How cool is that?
I tried two of these passive income ideas below and I made upto $5,000 just by doing nothing.
Some people think passive income is sitting on your couch all day doing nothing but sorry that’s not how it works.
How Much Can You Earn?
So probably you have heard people telling their success stories how they created a blog and they started showing their income reports.
And here you are thinking you can make $12,000 ASAP! just by marketing the blog or maybe an e-book.
Things are not as easy as they seem, putting an upfront creating content about your blog or book is alot of work.
If it was easy everyone would be doing it.
The more work you put in the more money you are going to earn in the long term.
I’m a full time blogger, being a blogger does not mean writing content and leave it there.
Why write meaningful content and there is no one to read it?
I have to advertise my content and share with people who might help them.
The more visitors I bring to my blog the more money I make. It is the same thing with passive income.
Work hard for it and enjoy the fruits later.
What Is The Difference Between Passive and Active Income?
Active income is the traditional 9-5 job that you have to offer a service and at the end you get paid.It could be wage , salary or tips.
This type of income you have to put a good amount of time to get paid for that. Whenever you stop working you don’t make any money.
Unlike passive income you put the work upfront and later with little to no work involved income starts flowing in.
For example: Apps that we download in our phones, someone spent time to create the app, it could be months, days or weeks!
But as soon as it was launched whenever someone downloads it he makes money.
15 Best Passive Income Ideas To Make Money While You Sleep
1. Invest In Real Estate
Real estates are a good way for passive income, but sometimes they can be a headache managing the property.
Investing in real estate you need to be having atleast $300,000 in your bank.
That kind of money not anyone is able to raise!
I have invested in real estate properties but guess what?!
I just raised only $500 with crowdfunding.
Crowdfunding is the practice of funding a project with a large group of people raising small amounts of money over the internet.
This type of practice can be risky if you don’t really do you research on the company you are crowfunding to.
2. Create A YouTube Channel
In this generation who would ever think you can make money just by posting videos.
Any type of videos can lead to passive income. People just like you and me make alot of money from YouTube videos.
Every time someone watches your video and an ad appear you can make money off those ads.
Big companies pays platforms like YouTube and Google to advertise their companies, that’s where me and you come in with our content.
And Google pays us a share to display ads on our videos and blogs.
For you to make good amount of money from YouTube you should be prepared to make a whole lot of videos to gain viewers and subscribers.
With good amount of subscribers you can gathers views to your videos.
If you are a beginner and you want this to be your full time income, I suggest start with posting videos daily.
With time you can reduce to twice a week or even three times.
3. Affiliate Marketing
Affiliate marketing is one of the powerful ways to make passive income. People make over $10,000 a month with only affiliate marketing.
This type of system works best if you have a blog or website. If you don’t have a website click here to get started with bluehost they charge less than $5 a month!
How cheap can it get?For your hosting and all your website storage for only $3.95/mo*
For a stay at home moms affiliate marketing can be one of the best ways to work from home all you will ever need is a computer , website and internet connection.
So when someone comes over your site and they purchase a product using the links you placed on your side you make some money at no more cost to your client.
Create your own blog here and start making some money out of it!
4. Create Online Courses
I have always loved online courses, they always teach me new things which I have no knowledge about.
Came across another affiliate marketing course I had no idea what am purchasing but at the end of the course I wish I knew the course way long back.
What I mean some people have negative thoughts when it comes to purchasing online courses, they feel they ain’t worth it and it is just normal knowledge they already know of.
But I believe every online course I have take, I did learn extra trick or method to improve whatever I want to improve.
You don’t have to be perfect about anything, gather what you feel you know more in a certain topic and break it down to a course which you feel is something that might help people.
Online courses should be something that might help someone’s problem after completion.
5. App Creation
This type of passive income requires a techie I know! But that should not hinder you from not making one.
Let’s talk about how a 17 year old Nick D’Aloisio, he created Summly app and sold it to Yahoo for $30 million! I meannnnnnnn 😲😲😲
The idea behind Summly is summarizing news into few sentences so that it becomes easier to get the main point to every news on the go.
That was sooo clever of him I personally use Summly because I love to know whats happening around me it has saved me soo much time.
So, don’t be disappointed if you have no knowledge like a techie, simply just hire a programmer and tell out your idea and see how it goes.
6. Write A Book
Did you know writing a book and selling it to Amazon Publishing can bring you hundreds of dollars in a day?
Depending on what topic you write about.
I have a friend who makes 5 figures yearly selling books on Amazon. A book she wrote 1 year ago is still bringing her daily income.
You don’t have to think anything out of the ordinary, write about what you are passionate about.
It can be your life, cooking, beauty tips anything you good at. Write about it as long as you being honest and express all your feeling inside the book.
The minute your book gets to Amazon you are going to make money every single month doing nothing at all!
Amazon already has a huge audience and it is trusted by millions of people, whenever your book is purchased or downloaded Amazon cuts their share and the rest goes to your account.
How cool is that?
What are you waiting for?Let’s get writing!
7. Invest With A Robo-Advisor
Who is a robo-advisor? You must be wondering what does that mean. A robo-advisor sounds just like what it means, robot financial advisor.
A robo advisor allows you to invest according to you own preference there is no minimum number and they let you sit back and enjoy the income flow.
Financial advisors charge way expense for their service whereas now robo advisors are the new thing now which they cost less and help you with your investment.
8. Start A Blog
A blog is one of the best things that has happened to me. I used to dream of having my own blog but never believed I could handle one myself.
Most successful bloggers make almost $50,000 a month!How is that even possible?
I used to question myself if that money was real or just fake for media.
When I decided to give it a shot ,
I now get it,
How other successful bloggers make $50,000 a month.
I know I haven’t reach that level but I’m hoping one day.
To be a successful blogger you need to produce quality content and be consistent, market your content, optimize your blog with SEO.
Once your blogs picks up you will have very minimal work to do, but for beginners you will need to work hard to make a good income in the beginning.
WRITE CONTENT, MARKET IT AND BE CONSISTENT! to have successful blog.
If you don’t have a blog yet you can click here to get your hosting from Bluehost for only $2.95/mo*
How cheap is that?I wish I started blogging way much earlier, the sooner you start your blog the earlier your income will be flowing in.
Look, I know, blogging can be hard in the beginning but as time goes by your blog is gonna work for you without you doing anything!
Here is a step-by-step tutorial how to start your blog with as little as $2.95/mo* with bluehost
9. Create An Online Store
These days creating an online store has been made easier with platforms like Shopify
Shopify has everything you will ever need to create your own stunning online store.
But wait, do you have products to sell?
You don’t have to worry that’s where drophipping comes in.
Dropshipping let’s you sell product without storing them at your warehouse or home.
For example you sell products from Amazon in your online store, so when a customer is interested they will place the order with their shipping details from your store.
Then after you received the order, you go over to amazon place the order and ship it to your client without you physically touching the item.
Related Post: How To Start A Dropshipping Business In 2019
10. Become A Silent Partner
Silent partner don’t really do too much work when it comes to business matters.
All they are capable of is help successful companies with expansion of their capital.
He does not handle day to day operation from the company. A silent partner has less responsibilities for the company unlike the active partner.
When a company is still small active partners spend more hours working and recruiting staffs while the silent partner has no part in such events.
One disadvantage of being a silent partner is when it comes to loss you all share losses from the company.Not everyday the company is going to make profit.
11. Network Marketing
Network marketing is a flexible business it is offered by companies like Avon and Mary Kay.
So how does this system work? Network marketing usually people pay an upfront fee to purchase a certain product.
Companies recruit sales representative to promote their products.
These sales representative gather as many people as they can to get their commissions.But it doesn’t stop there, these sales representatives have the permission to recruit other members beneath them known as “downline”.
The downline members whenever they bring a client part of their commission goes to the person who recruited them.
It is more of a pyramid scheme which in some countries it declared as illegal. With this type of system you can make money without doing nothing. However, research about the company first before joining.
12. Create Your Own Merch
These days most of the YouTubers have something called merch. Customize your shirts or sweatpants with companies like Amazon Merch or Fanjoy.
Create a design of your choice and send it to Amazon Merch they handle everything printing, packaging and shipping.
All you have to do is register with such companies customize your design or logo and the rest is been done for.
Amazon gets a percentage of your sales but that doesn’t matter if your design sells out, you will be making thousands of dollars doing absolutely nothing.
13. Rent Out A Room In Your House
Having an extra room can be an advantage.Look, I know renting a room to a stranger can be quite risky or messy especially if you are the type of person who suffers from OCD, hehehe kidding.
Anyways, my point is hiring a stranger can be messy some tenants are clean some are not.
But at the end of the period you already made money out of it, post your place to Airbnb, thousands of people are on Airbnb searching for places to stay, yours might just be it.
You could hire a house-help to clean up after the stay.
My friend and her fiance makes an extra $2000 a month just renting their extra room .
14. Peer to Peer Lending
This type of system lends money to individuals or businesses through online service.
The annual rate return is either 5% or 7% .
People who lend money have the ability to choose the people who requested for loans for their safety.
Lending Club is one of the known lending club.
The system has alot of risk, the borrower might delay payment, and the only way to receive payment is when the borrower has paid back the money.
15. Sell Your Photos
Do you love photography?Magazines and others big branded companies purchase stock photos from sites like shutterstock, iStock and other related sites.
The most successful one is DepositPhotos. Sell your photos to these websites and make a commission everytime someone downloads or purchase your photo.
All you have to do is take good quality images and post them in these websites.Be consistent.
If you think posting a one time photo will bring you income flowing in, you are wrong.
For beginners post atleast three times a week and when you have enough audience you can slow it down abit.
This is such a good way for passive income, all you have to do is take one shot a day and let the rest happen.
Summary
As you can see with the above ideas there are alot of ways you can make money passively. All you have to do is think of what works fro you.I believe not all the above strategies are suitable for everyone.
Who wouldn’t want to make money while they are sleeping dreaming of their favourite food? I know I do, what about you? Implement now what are you waiting for?
Don’t hesitate to contact me for any help.
If you have more ideas please share with us in the comment section down below 😊😊😊
