Hey peeps, If you are searching for the Definition of passive income as well as How to make passive income, then you are in the right place.
First of all, congratulations. Because you are searching for How to make passive money that means, you want your financial freedom.
You want to lead your dream life. That’s great. You are way ahead than other people who are wasting their time.
How long you will drag your life by doing 9-5 jobs over and over again. It is way better if you choose to make passive income.
After all, having passive income streams can be a great way to helping hand to your main source of income.
But the absolute dream is to get to a point where you can sleep without any financial tension off your passive income streams.
From childhood, you may have been listening to stories of people who are enjoying, traveling, leading their dream life as well as they are earning a lot of money.
Trust me, it will be true behalf of yourself if you become successful in growing your passive income sources, and most importantly you have to find the exact meaning of the “Definition of passive income”.
First of all, Don’t be confused with the Title. Because the passive income category is a broad thing to cover.
The title either can be,
- 15 ways to make passive money.
- Passive income definition
- How to make passive income in 2020 to get rich
- How to get rich quick.
And many other phrases. I won’t lie to you, I choose this title (“Definition of passive income”) because it is SEO friendly.
By the way, if you want to learn SEO, Then I have an in-depth article on “An ultimate guide to SEO”. Here, I had shared my exact strategy of doing SEO on posts.
So, in this article, you will learn about the “definition of Passive income” as well as “How to make passive income”.
Definition of passive income
Passive income is where you make money again and again for particular works that you did once.
To use a more in-depth definition: Passive income is earning money from assets that you have either purchased or created.
There are three types of income and making passive income is the greatest between them.
Because you don’t have to work hard actively.
The difference between active income and passive income is that in passive income, we don’t work hard daily for earning money; instead of that, we invest our time as well as money upfront.
This is why you can use these passive income streams or ideas to generate money while you are sleeping – as you don’t actually have to do a little amount of work weekly or monthly to keep earning money!
Does passive income really work?
I can give tons of examples of people who are earning passive income without doing anything.
It is the era of virtualization, you can’t make money if you only work hard. You have to work smart as well.
Because, if you invest all your work in the wrong way, then it won’t give you any benefit.
It is better to work hard for 4-5 months and earn lifetime from it.
It is called passive income.
In 2020, People all are doing rat race to earn their living. They hustle all the time.
I am sure, You had been in this situation once, that’s why you are looking for “How to make passive income”.
Trust me, take the first step towards your dream life, and one day it will come true.
15 Actionable ways to make passive income
1. Start Youtubing
The future of content marketing is Video marketing. Do you know a report of how much time people are watching videos on Youtube?
You’ll be amazed! because people are giving 40% time in one day. It is a lot of time.
People love to spend their time on Youtube.
Youtube is one of the best way to earn passive income. Because, if you make one video and that go viral then you can also earn money after years.
So, if you a person who loves to talk and want to show your day to day life to people then you can start vlogging on Youtube.
You can make videos without showing yourself either. Just search on youtube, you will find tons of video about How to start youtubing.
There are tons of categories on youtube to start with. I won’t be go deeper about that in this blog post.
People are earning daily with their videos. Suppose, for 10,000 views you can earn 500$ approxemately.
2. Start Blogging
Blogging is another way of earning huge amount of money in a month.
It is the simpliest work to make passive income. Because, it is only about writing.
You have to only write about a particular category that is related to you and you can earn a lot of money from it.
Your blog can be about fitness, recipe, health, pet animals, trees, gardening, wealth, etc.
Suppose, you are a mom and you love to make food. So, you can write about recipes and earn money from it.
By the way, if you are new to blogging, then I have an in-depth article on “How to start a free blog in 2020“.
You can start blogging without any investment.
3. Start a podcast
Podcasts attract wealthier and educated people. Also, 34% of American people listen to podcasts monthly in 2020.
So, if you are uncomfortable about showing yourself and you don’t want to invest your time in writing things then you may start podcasting.
So, podcasting is like an audiobook. The next generation of content marketing will be Podcasting.
Because people are being busy in their daily life. They don’t have enough time to watch a long term video and it will be taking a longer time period to read blog posts.
So, People wants to listen podcasts while they are working in their daily life.
By listening to podcasts, people can earn knowledge and it doesn’t waste any time.
You can start podcasting on any topic. You can tell about traveling, sports, music, etc.
There is a huge opportunity to earn a massive amount of passive income from podcasting.
4. Make Passive Income with Affiliate Marketing
So, first of all let’s know about what is affiliate marketing.
Affiliate marketing is selling other products to customers and earn some commission from it.
So, let’s think practically.
You have a blog and you write about fitness. So, there are a lot of fitness products on marketplaces.
You can promote them and if people buy from your given link then you will earn some commission.
It is a great passive income Streams. You can earn a lot of money within a week by affiliate marketing.
You can promote affiliate products on Facebook, Instagram, Email, Youtube, any other social media platforms.
Amazon, CJ.com, Themeforest, Clickbank, etc are one of the most famous affiliate markets in the world.
You can sell physical products as well as digital products in affiliate marketing.
5. Sell E-books
So, E-book writing is a one time job but you can earn over and over again from your E-books.
Either you can write your own E-books or you can sell other people’s E-book by earning some commission.
The best way will be write your own E-books. No one knows, if you have that capability to engage with people more then you can become best seller.
Yes, there are many examples of people, who changed their life by writing their own E-books.
They didn’t even expect that they will have 1 sell from their E-book. But after days of hard-working, they gradually become best sellers.
You can publish your E-book to Amazon by simply following their E-book writing guide.
Just follow Amazon’s book writing guide and start your career by writing your first book.
6. Sell WordPress Themes and Plugins
If you are an IT expert or you are doing a bachelor degree on Computer Science or you are an WordPress Developer then you can earn make passive income by selling WordPress theme and Plugin.
Themeforest is the largest WordPress themes and Plugins marketplace.
You can find the best WordPress themes, plugins, templates, etc here.
You can make a WordPress theme or Plugin like AVADA ( Best selling Theme)
It is one of the easiest category if you have the skills.
Because you will develop any theme within one or two months and you can make a lot of money from the upcoming years.
By the way, if you want to become a website designer, then you can read “How to create a website without coding“
7. Create and Sell your Online Course
In 2020, people are getting dependent on online courses rather than physical courses.
Because the online course is easily accessible and people can watch it when they can and how many times they want to watch.
You have a high opportunity to sell your online course on online platforms.
If you are an expertise person in any category then you can teach that particular category in an online platform.
You can teach music, blogging, gardening, fitness, engineering, english speaking, translating, etc.
Any topic you name it, you can teach online.
Udemy is one of the most popular online learning platform. You can create videos simply by following their instruction.
VPKID is another platform for teaching kids online. It is so easy to teach kids. You don’t need any experience or any skills.
Attract people and monetize your content and earn money.
8. Start Freelancing
Freelancing is a kind of active income.
If you work then you can earn. In freelancing, you have the freedom to choose works.
You will not have one boss. You can choose the clients whom you want to work with.
Though it is a kind of active work if you want to make money online, it is one of the best ways to do so.
It is very beneficial for part-time jobs. Students who are studying in colleges, they can earn extra money from doing freelancing.
There are many categories in freelancing. Such as,
- Logo design
- Web design & Development
- freelance writer
- data entry
- voice over
- guitar playing
- Video editing
- Social media management
There are a lot of things to do as a freelancer. You can earn up to 1000$ per month with freelancing.
Top freelancing marketplaces,
9. Start your own Online store
Nowadays, everyone is going virtual.
In the modern era, it’s so easy to buy anything from an online store, so why will people go out physically?
The rate of people buying from online store is going high day by day.
So, why will you miss the chance to make passive income from it?
You can simply open an online store and offer products to people. If you have that passion to build a business, then I assure you, it will work.
Yes, It needs a lot of hard work, consistency, and patience. But if you want to achieve big, you have to focus on your works.
You can sell physical products in your store because this business is evergreen. People will buy from you if you have a quality product.
You can sell your own digital products. Like, if you are a web developer then you can sell WordPress themes, plugins, templates, etc.
You can sell your own E-books, Productivity checklist, etc.
You can do Dropshipping either.
So, let’s get clear about Dropshipping first.
In Dropshipping you don’t have to own stocks. When anyone purchases from your online store, the manufacturer will directly ship it to the customer.
It’s a great way to earn passive income. Because,
- You don’t have to worry about stocks
- No need for a place for stocks.
- You can ship throughout the whole world
- Don’t need a lot of work
Yes, you don’t have much control over product’s quality and customer experience as well.
Shopify is one the best and commonly used online E-commerce marketplace, where you will find ready-made tons of templates and themes for your online store.
For creating a website, you don’t need any skills in Shopify. You can build an E-commerce store by only dragging and dropping.
10. Sell your daily life photos
Yes, you can earn with your photos also.
In your daily life, you may take hundreds of photos daily of nature, products, room, etc.
What type of images are people buying the most of?
- People working
You may don’t know that, you can earn a lot of passive income by clicking photos.
You can sell photos online marketplaces and if anyone purchases your photos, then you earn a commission from it.
Best photo selling marketplaces are,
Go and grab the easiest opportunity to make passive income by clicking and selling your photos.
11. Sell printables on Etsy
You may know that ETSY is a online shopping store where physical products are only selling.
But, no! On ETSY you can sell digital printables too!
It’s so easy to create digitally printable on CANVA. There are already tons of ready-made templates for you.
There are tons of great ideas for printables out there, including things like
- wall arts
- recipe planners and more.
You don’t have to waste much time. You have to just create and sell on Etsy.
No postage hassle, no costs, no printing trouble – You have to just create and sell the products on Etsy store.
12. Buy a site that’s already making money
If, You don’t know “How to create a blog for free in 2020“, then you can buy an existing blog that is already making passive money.
Yes, there are many bloggers who have many blogs for their own. But often they sell blogs because either they don’t have time to pay attention to the blog or it isn’t making enough money for them.
You can buy the existing blog, which has ready-made money-making articles, blog design is already done, Adsense approved, making money with affiliate marketing, and all.
Flippa is the best and commonly used by people for selling and buying websites.
You have to simply register to that site, and you can buy a blogging website in which niche you want at affordable price.
13. Start Investing in Real Estate
Look, You research a millionare profile and you will see that, the backbone of their business was investing in real estate.
Yes, It is super fun to invest in real estate if you have that kind of passion.
If you can take risks of your own by calculating yourself, then real estate is for you.
Investment is the only form of passive income that doesn’t required a lot of hard work and timeless effort,
Real estate investment can be a great way to make passive income while you are sleeping.
Fundraise is one of the best crowdfunding real estate investing platforms in the real estate marketplace. You can start with only $500.
14. License your music
If you can earn with podcasting then you can earn with your music voice also.
All you have to do that license you music in a right way of making money.
Licensing your music means, people can use your music by paying you out.
If you’re musically touched, you can definitely use that skill to make money while you sleep.
People like to add background music into their videos or songs.
By licensing out, you are giving people music. That’s how you can earn a lot of passive income.
You can “license your music in 4 steps“. Go ahead and read it, if you have some quality skills.
15. Get cash back for shopping
In your daily life, you often buy things from online. So, why not earning some cash back by shopping online.
Yes, you will get cash back for shopping goods.
Swagbucks is the site that is giving you the opportunity to earn passive income.
There are 15,000 online e-commerce stores available in Swagbucks including amazon.
All you have to do is, buy things from them and get cash back.
And once you earn enough points, you can use them to get almost any gift card you can think of, including for Amazon, Starbucks, PayPal, etc. W
Which is pretty much the same as getting cash in hand!
And the fun part is Swagbucks is giving a $10 free bonus for signing up. So, grab that feature by signing into it.
These are the 15 ways to make passive income fast.
So, These are the ways that I have followed my entire life to make passive income.
If you are searching for the definition of passive income then I assure you, Your time has not wasted by reading this article.
Because I have shared the definition of passive income by giving examples in this article.
I am not a pro but I have researched quite hard for you.
When I was a beginner, I had a lot of confusion in my head. I wasn’t able to solve myself. I had studied tons of articles. Combined them all and found these tricks.
But, I don’t want you to hustle and waste a lot of time. Read one article and start making passive income with these passive income ideas.
Please comment here if you know any other qualities that we can add to this list which we might have forgotten.
A quote from me?
- I am not a pro but I am in this particular field for many years. That’s why I thought that I can teach you through my articles and that’s why I did some research and wrote about the Definition of passive income.
- I am personally a blogger, I like to write soo much and I hope this article will help you to learn with me, and by reading this whole article you can have enough knowledge about How to make passive income
Like the Article? Want to read more stuff?
I am a full-time blogger and solving your all kind of problems related to website stuff and queries like “How to make passive income“. I write articles every single day. You can find me constantly with different ideas, tips, and tricks.
I have written a cool but important article on “How to become an Entrepreneur”. This article will help soo much if you are willing to make your dream life come true.
It’ll help you to grow your career as an Influencer and earn 10k followers within a month.
I have also an article about How to Start a Free Blog for Beginners. Make sure you check this out if you have a passion for being a blogger.
I have shared my own experience and many tips and tricks which will help you to become a blogger faster and in this article, I also had written about earning money with blogging.
Please comment here if you know any other qualities that we can add to this list which we might have forgotten.