Earn money even when you sleep……Isn’t that what you want?
After Tim Ferriss’ 4-hour week reading, I became interested in this subject and did everything I could to set up these famous passive incomes.
What is passive income?
The simplest definition is : passive income is income that you generate without actively caring for it.
This means that you earn money by doing nothing or very little to generate this income.
Most of the time, when a person wants to increase their income, they are offered an extra job or overtime.
This is not an issue with passive income. Anyway, do you have the time and/or energy to do a job in addition to yours?
I have done so and I know that this is not the right solution. I traded my time for money.
It’s not as interesting as making money by doing almost nothing! This requires a little time and investment.
Here are some ideas that I hope will inspire you.
1.Earn money with cashback
Are you interested in making money while shopping? Buy via ebates platform. It is a cashback site that refunds part of your purchases.
2. Sell your own products on the internet
The possibilities are endless. You can sell any product or service. It can be a product you have created or resold an existing product (dvd, computer software or training on paper or video). You create a website dedicated to this product and sell it. You can buy and sell these products or do dropshipping.
You don’t know drop shipping? It is a fairly simple tripartite system.
The customer places an order with you, you place an order with a wholesaler who delivers directly to the customer. No need to manage stocks or shipments! Take a look at Shopify to try it out.
3. Invest in real estate
Real estate is an easy way to create wealth. Everything may seem difficult when you’re not used to it, but there’s no magic. You have to be trained, read, listen and learn. Once you have purchased one or more apartments or buildings, you repay the credits and collect the rents. This provides you with an attractive passive income. You still have to take care of the management of your property.
If you want to be at ease, you can delegate the management work to a real estate agency. Obviously, you will lose profitability.
Or invest in real estate crowdfunding thanks to Homunity. You have nothing to manage except to select your project and collect between 8 and 10% of yield. Moreover, it is convenient for small budgets, you can start investing in real estate from 1 000 $
4. Make youtube videos
Even if it is less lucrative than in the past, making youtube videos is a good way to make money. You can create videos by talking about topics you like – music, tutorials, opinions, comedies, movie reviews – anything you want… then put them on YouTube. You can then attach Google AdSense to the videos, which will integrate your videos with automatic ads. When viewers click on these ads, you earn money with AdSense
The key will be to create attractive videos, promote these videos on social media websites and create enough to generate income from multiple sources. There is a lot of work to do to create videos, but once a video is made, it can become a completely passive source of cash for a very long time.
5. Create your blog
Why not create your own blog? Are you passionate about a subject? Do you like writing? Then blogging is for you! Thanks to advertising and affiliations your blog can bring you money. My blog brings me passive money from articles published months ago. I am passionate talking about finance. This blog has allowed me to link the useful to the pleasant.
6. Write a book and receive royalties
As with writing an ebook, a lot of upstream work is required. But once the book is written and marketed, it becomes a totally passive source of income. If you can sell your books to a publisher, he will pay you a percentage on each sale and if the book sells well the remuneration could be substantial!
There are many other passive income ideas to be implemented. Before you earn passive income, you will need to build this income with upstream work. Believe in yourself and try. Thousands of people have passive sources of income. So why not you?