26 Passive Income Ideas: Complete Guide to Make Money
I know you’re thinking of another source of income to stabilize your finances. There are so many ways to get extra income to allow you to meet your financial goals. In this article, I will be sharing with you 26 passive income ideas that can help you meet the financial plans for the year.
Some of the ideas are free to join and others may require a little investment to succeed. Let me reveal some secrets that the gurus won’t tell you, invest in your skills first before expecting results from what you do for others to patronize.
What is passive income?
Passive income simply means the money you make with no physical or active involvement. It is also referred to as the money you earn outside your usual salary. Passive income ideas refer to the various ideas available to earn passive income. As Donald Trump said, you are not rich unless you can earn money from your sleep.
26 Passive Income Ideas: Complete Guide to make money online
You can get several strategies to make extra income. We have for you 25 passive income ideas to change your finances.
Data entry work
Join CPA Marketing
Social media marketer
Rent unused rooms
Buy and Sell Domains
Create Fitness Course
Teach online courses
Writing Business names
Job offers online
Mobile apps Creation
Create and sell your books
1. Cryptocurrency Business
Cryptocurrency business is referred as investing in digital currency that is well secured in an encrypted form. This particular business doesn’t have a central issuing point or any regulatory body that takes charge of the money. Remember that investing in this business comes with risk and also great potential profits.
Cryptocurrencies vary and they are classified into 4 which include Defi (Decentralized Financed), Utility tokens, store of value tokens, and yield farming tokens. You have to read more about this in other to earn money from these passive income ideas. You can take a course to learn more about the cryptocurrency business or trading.
2. Forex trading
Forex trading is another lucrative business that will help you overcome financial challenges. It simply refers to foreign exchange, which refers to the trading of one currency to another. This type of business may not be suitable for everyone. It is a bit complex to understand unless you learn from experienced people.
This is a business where we pair currency thus selling one currency at the same time buying another currency. Sign up for the best forex trading organizations that will help you with the basic ideas before investing your money.
3. Affiliate marketing
If you want to make extra income aside from your hourly or monthly work then affiliate marketing will be the best for you. In this type of business, you don’t need any personal product, you can sign up to an affiliate program and earn a decent commission when sales are made.
Affiliate marketing requires you to recommend products or services to potential customers. It is one of the oldest forms of passive income ideas. When someone buys any product through your referral links, you earn a commission.
Amazon or ClickBank might be the best know affiliate source for people like you who want to make money online. You can promote your affiliate products on social media platforms like Facebook, WhatsApp, TikTok, Instagram, Twitter, etc.
I prefer using blogs to promote affiliate offers. I do good keyword research and then write unique content to promote my affiliate offers to a larger audience. You can start a personal blog either paid or free website to promote any offer that you have for your audience.
I mentioned Clickbank offers to you because they pay good commissions ranging from 30% to 75% commission on each sale. Create your own social media group and used an innovative way to get traffic for the product. If you are a beginner, be patient and build your audience.
In affiliate marketing, you can also earn from pay per click (PPC), pay per sale or cost per sale, and pay per lead or cost per lead.
4. Data Entry Work
There are a lot of data entry jobs that you can do to earn a decent living. Data entry work is classified into 2 namely encoding data from a scanned document from probably in a pdf form you convert into an excel document. And another form of data entry work may be copying and pasting data into excel. Make sure you check the requirement well if you are applying for this form of job.
5. Join CPA Marketing
What is CPA Marketing? Costs Per action is an advertisement strategy where you get paid for the required action done. There are many people making millions of dollars from this business. Conversions differ especially geographically.
You may start this business with CPAgrip or adworkmedia if I may recommend it. In CPA marketing you can choose to use content locking or email submits to get your desired payment. Remember I told you earlier that no passive income ideas work well without consistency and practices.
6. Set Up a Blog
The blogging trend has changed in recent years. Years ago, blogging was made for passion and others just want to give information to the world. Due to the increasing number of the current population, everyone wants to make extra money.
The blogging business is becoming one of the profitable ventures to get more paid. In this era of our time, you don’t need coding skills to set up your blog. Just google on how to set up your blog or watch tutorials from youtube to start setting up your blog. You can make up to $40,000 per month if you take it seriously as your own business.
How do you make money from a blog?
- You can get paid for sponsored ads
- Affiliate products
- Personal products
- Contents locking (CPA)
- Digital courses
7. Ecommerce Business
If you want to know how an eCommerce business is? Then you must start one right now. This will give you money as people buy from your system, not directly traveling to buy from the producer. In this type of business, you create a platform to sell to consumers, business, or entities interested in what you sell.
Ecommerce gives way to earn interest on sales or charge on each product or services sold to people or business that buys. Websites like eBay, Amazon, Alibaba, jumia, Jiiji, tididaa, tonaton and the rest are all under this category.
What makes this business lucrative is the less stress since it works in the systems set to run it.
Under this business to you can make a good return on a product sale. You sell a product that you don’t have to store. Under this business you set your retail price, when you make any sale, your wholesaler ships the product to your customer and you keep the profit. Drop shipper simply means the wholesaler ships the product to your customer in your name.
9 Mobile Apps
Have you ever wondered how people make money from mobile apps? It pays crazy. You can create your app in the form of a game for android or iPhone. Making money with mobile apps is a wonderful idea. First of all, learn the system by studying and thinking through how to get people addicted to it. Step 2 is thinking of the app and gathering all forms of ideas to make your apps one in a million. You can learn programming or hire someone to do it for you. The final step adds it to Appstore and starts getting results.
10. Youtube Videos or Video Blogging
You can make thousands of monies from this if you can create good content for your audience. You can monetize your videos and get paid every day. To become a successful YouTuber, you need time to research and deliver it innovatively. You may give out educational tips, music reviews, sports reviews, cultural interpretations, and many others. It pays well than written words.
11. Product creation
To make money online, you need to solve problems because nothing is free on the internet. You can create your product to sell on your websites. On this, it may be eBooks or any other product. You create it ones and you get paid for it forever. You think of what you can offer you’re the world and create in a digital way to sell for money online. I now know you have gotten some passive income ideas t make money from.
12. eBooks Publishing
There are many great resources online that will aid you to write and publish your eBook. Don’t be afraid of getting them to help you start as an investment opportunity. Save your valuable time to make money online with your skills. What idea do you have at all put it in a writing form to make money?
If you are already a publisher, you can convert many of your contents into eBooks. Ebooks are very good to to sell your products or services to people easily. Ebook can be written personally or giving to experts to do it on a fee.
Research what people will love to read before you write. Get your books published to make money. The platform to publish as for me amazon where they have a lot of readers.
13. Social media marketing
Social media marketing simply refers to the use of social media to market companies or other people’s goods or services. You can market your physical products or services online to make extra money. It is the best way to attract visitors to see your products.
This is the process of advertising your product to a larger audience using social media. You have to build massive traffic that can be done with free or paid traffic. If you are using social media to get a client, you must build integrity.
Before you start social media marketing find out where your ideal customers are. If you are selling B2B (Business to business) business, then the best place is LinkedIn. If it is B2C then try Facebook, Instagram, YouTube.
Get in front of your ideal customers. Don’t do it all at the same time. Pick one platform and master it before you go to the other. Don’t try all at the same time because you will fail 100%. Do courses related to the selected platform and understand every bit of information about it.
14. Virtual Assistance
Virtual assistance job is also another source of income. This is a special service that you can offer administrative work from your home. Lot o companies seek to get people to do that work. The services may include scheduling appointments, phone calls, managing emails, and arranging appointments.
15. Graphic Designs
Graphic designs are also a growing venture that will help you make money. Yes, there are different ways to make graphic designs.
- Graphic designs can design templates for website owners to make money. You have to be unique all the time if only you want to make money.
- You can make money from designing logos for people or organizations. As a designer, you have to develop innovative thinking. You can sell logos that you design for companies and sell. Monetize your work that is probably on your website.
- Client Work: you can make money from any work given to you by your client. The client may contact you for a particular design for the activities. Do decent work.
- Sell Knowledge to make money. You can design a course to train people for money to make extra income.
- You can make money by creating icons. It sells greatly. Think about creating icons for clients to make money. Think about the passive income ideas and improve your finances.
16. Create a Podcast
A podcast is long-term content creation. Most platforms may not make you money by creating a podcast. The podcast is a way of sharing using an RSS feed to subscribers on different devices. You can make money on the podcast by mentioning your product for sale. Listeners may buy the product for you to make money.
17. Network Marketing
Network marketing has made many people millionaires. This type of business is by promoting someone’s business for commission. You earn from a referral, leadership bonuses, and retail profits. It doesn’t require much time for full work. You can start part-time to earn passive income.
18. Instagram Influencer
Instagram influencers make a lot of money per day. Set up your own Instagram account and build a brand. People will start to follow you. As days go by, your followers will increase. Companies and other producers will contact you for paid ads.
19. Rental agent
Many people get stranded when it comes to accommodation issues. Become an agent that can link tenants to landlords and take a commission on that. Develop a small website that shows your work to the general public. People with accommodation can register and those who are also searching for a place like that can also take that opportunity.
20. Create a course
Create a course from your skills and upload it on great platforms like Udemy, Skillshare, or Coursera to make money. It can either be a video course or an audio course that your audience will buy to participate in.
Alternatively, you can start free courses that will attract many of them to your premium offers. It is one of the strategies many marketers are now using. You can equally create fitness courses to help many people to live healthy life.
21. Sell Products online
You can take advantage of your social media like WhatsApp, Facebook, or Instagram to sell your products to them. Facebook stories, WhatsApp statuses, and Instagram stories sell a lot if you can display your product there with nice captions.
22. Buy and sell domains
Some domains cost less at the moment while others are quite expensive. Buy the domains you think may be popular in the future. You can buy domains for less than $100 and keep them for future purposes.
23. Teach online COURSE
Start online classes to earn money. With online classes, some people may decide to negotiate with you and pay you according to your demand. You don’t need much, just get a computer with a good internet connection to start.
24. Review Products
This is one of the opportunities you may get to make money as an affiliate marketer. There are a lot of products which are launched and others are yet to be launched. Start promoting them and get a commission from the sales you make.
25. Writing Business Names
There are new organizations that are emerging that require names that fit their activities. They usually seek people who are experts in that field. You can choose to do that for payment if you know.
You can make money from copyrighting by helping people legally protect their creativity. It allows people to truly own their work for not being taken by others. As you teach them copyright procedures, you equally get paid for the service.
There are only 24hrs a day and no other time is given to someone more than you. A lot of people have made huge sums of money from these passive income ideas with just time to invest. You equally have the opportunity to choose one and master it well to get you some extra cash.