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Grab a cup of coffee, relax and check out the Top 6 passive income generators that will help you earn extra income without wasting your time and energy.
Unfortunately, there are only a couple of ways to get rich easily that work, so this isn’t a how-to guide, but on the bright side, at least you won’t end up in jail!
In a few words, passive income is a constant stream of extra income that doesn’t force you to work a fixed schedule.
The key is in the low-effort and multiple-selling jobs.
These can be permanent projects or start-up ideas: try them out and see if they are for you.
The passive income principle is very interesting – the more time you invest in it today, the better you will be paid tomorrow and for years to come. Start building your passive income today and secure extra income for life – without any overtime. I’m already doing it!
Top 6 passive income ideas
Invest money in P2P or peer-to-peer lending platforms
The easiest way to generate passive income today is undoubtedly to invest money in P2P or peer-to-peer lending platforms. P2P platforms such as VIAINVEST and Mintos offer the opportunity to invest your money and earn up to 12% per year on your investment.
Investing your spare cash on peer-to-peer lending platforms is one of the safest forms of investment available today. Money invested on P2P platforms is usually insured with a money-back guarantee, which means that your investment will be safe.
P2P lending platforms explained
To understand how P2P peer-to-peer lending platforms work, let’s take a look at this scheme by the Mintos platform:
Mintos is a peer-to-peer lending platform that offers a new opportunity, bringing together investors who want to invest their spare cash with people who need funds to fulfil their goals. Using modern technology, Mintos offers investors to invest in loans originated by loan originators that are connected to the Mintos platform.
What are the best P2P platforms?
5 EUR cashback for new investors
Minimum deposit 10€
5 EUR cashback for new investors
Minimum deposit 10€
Sell your own content (stock)
Websites, advertisers, self-publishers and app makers all need secondary content, from images to music, video or sound effects. If you spend your free time filming, sketching or singing, this could be the solution for you.
How can you create content?
Go through yours old projects – Chances are you already have a lot of previously-unused images and video footage.
If not, start making them! Take photos, film short clips and put on headphones to make music.
You can also make the most of the time you spend among people. Take a picture of the frothy hot chocolate your friend is about to taste or the beautiful sunset you saw on your way home from an event!
How can you publish your content online?
Publish your work on various “stock library” websites, designed to be searched, selected and paid for by their users.
Where to sell photos – 10 photo banks for extra profit
Royalties are usually small, so you’ll need to “build up” a bank of work before it starts to pay off. It’s useful to look at what’s available at a given moment popular or always in demand, and to follow those trends.
You don’t always have to be a professional to be successful with stock: niche ideas are just as sought-after as flawless execution. Keep in mind photos, logos, slogans, stickers, icons, pins, banners and sounds! There is no limit!
Brands are always looking for content that helps them sell their product, so your target audience is an important thing to keep in mind.
Places to publish your content
Shutterstock: photo, video, illustrations, music
Getty Images: photo, video, illustrations, audio
Dreamstime, Adobe Stock, Picfair: photo
Patternbank: fabric design
LINE: emoji, stickers
Dafont, MyFonts: printing house
Envato: everything from graphics to web themes and music.
Although it’s not as easy as using stock websites, you can also sell your music and sound effects iTunes and Soundcloudand anything else on your own website/store.
Some websites may ask you to submit your best examples before accepting you as a contributor. If a website rejects you, try the next one!
Write an eBook
If you are passionate about publishing, the digital side is less important – online publishing is relatively easy and risk-free.
Getting online publishing right can give you some money and help your future (by sharing the link in your CV is pretty impressive!).
How to write an eBook?
Your secretly kept collection of short stories is a good thing to start with. If you’re in it for the money, not the Pulitzer, look at what’s selling well at the moment and work from there.
Reports bestseller lists but don’t focus on fiction. There’s a list of everything from politics to poker, so if there’s a topic you know well (for example, something related to your studies or hobbies), use it.
Make your own Insta capital. If you have a solid online audience and you are also a professional skater, why not focus on the exciting “how to skate like Tony Hawk?” twist?
The main publishing sites accept .doc files, (take a look free Word alternatives), but if you want to have more control over the look of your books – and you know how to work with HTML – give it a try Sigil eBook editor. Amazon also has tools comic and for children books for.
Once you have a file, you need a platform. To get listed on Amazon, you’ll need to use kindle route.
Other websites have Smashwordswhich spans across many company lines, including Waterstones and iBooks. Use both platforms to secure your chances.
How to get eBooks on the market?
It’s easy. The hardest part is being found. Writing a few words and putting them on the cover won’t make you a best-seller – you’ll need to focus a lot on getting noticed.
In the digital world, people do often judge a book by its cover – so take the time to make it look professional. There are many free Image processing sitesthat you can use to help you achieve this.
Also, don’t forget to improve your book description and keywords to increase your chances of being found online and boost sales.
But the most important thing (at least with Amazon) is to get honest reviews for your book, so at the end of the book simply ask or encourage readers to give you their review (ask your family and friends to do it too, if necessary!).
Take a look at our full tutorial on how to publish on eBook!
Make your own app!
As far as passive income ideas go, this is a pretty good choice. The question is not whether you will make millions (which, sorry, is unlikely), but rather whether you will need a professional coder. Surprisingly, the answer is no.
How to create an app?
If you already have a working app in mind (it has achieved something or has a good communication system, camera or other system tools), you will need to learn the language of computer users or find someone who already speaks it and split your income.
Until then, MIT Free PC App Inventor will help you “build the bricks” instead of just showing you coding options.
If your case is gamesyou can build professional apps, whether it’s Sonic (endless tracks) or Angry Birds, where virtually no coding is required.
You will need to find ‘game engine’: a kit that will help you design, develop and create applications from your computer.
There are many, including a free app Unitywhich is drag-drop friendly and supports cross-platform publishing (build it once and “launch” it on iOS, Android and desktop at the same time, a must if you want to boost potential sales).
How can you make money with apps?
You can make money by getting people to pay for your app, by creating in-app purchases (extra lives, hints or episodes) or by putting ads in them.
However, you’ll lose money by paying the store, while with Google Play and iTunes you’ll have to pay an elaborate upfront fee to get your app published.
While you don’t have to be a know-it-all, being an enthusiastic app user helps your desired market. It’s useful if you have phones/tablets on different platforms, but there are many other ways to try out apps on virtual devices.
Make a note of what you don’t like about apps you use regularly or options you haven’t seen before. Finding a niche is hard, but it can be a way for you to make a lot of money.
If you are serious about earning a decent income after work, you will need to set up several apps.
Affiliate marketing
How does affiliate marketing work?
An affiliate marketing website is basically a website or blog that features the products or services of other businesses with the intention of directing people to their websites.
You need to add specific tracking links On your own websiteor highlight them on social media. If someone clicks on your link – and buys something – you get a commission on the products sold.
You don’t have to spend time storing and delivering products, as shops usually do it themselves.
This can be quite lucrative, even beyond passive income, but you will need to invest more time and effort to get there.
Many retailers use affiliate marketing – you can easily find out about it by surfing Google – but if you join a network, you only need to log in once to get access to a variety of stores and products, so you spend less time clicking and more time getting them.
For beginners, we recommend you try Awin.
First Steps in Affiliate Marketing: A Beginner’s Guide to Starting a Successful Affiliate Marketing Business
How to get maximum results?
This works well if you already have a website, shop or social media profile that has an audience, and if the products you are promoting are related to your existing content.
On your blog, post reviews of everything you buy online and don’t forget to add ‘buy now’ links. Or add a separate sheet that you can call ‘bookstore’where you can find your favourite products and the reasons why you value them.
Good reviews are important and include important details about what you liked about the product and why it is worth buying. They should be longer than a paragraph, but not so long that you lose readers because of sales jargon.
We have tutorials on how to make your own your own websitehow to make money money blogging and how to make money on social mediato help you get started!
Products made on demand (Dropshipping)
What is Drop Shipping? How can I make money on the Internet?
The last of our passive income ideas is a bit of a student classic.
From t-shirts to baby bibs, there are shops that offer customisable clothing and accessories: the ability to sell them depends on you inspiring your customers.
How to sell such products?
One of the most well-known market places is Printfulwhich sells almost everything with nothing on top. Whichever shop you choose, sign up for a seller profile (to sell through the shop) or a shop profile (to sell from your own website).
Publish your best illustrations, photos or jokes, and choose which products can be customised and designed with your art. If someone buys a product with your design, you get a cut – and you don’t have to produce, store or deliver anything.
You don’t even have to come up with your own ideas: if your inspiration has just run out, you can instead queue up other people’s customisable products for a referral fee.
Choose cute or funny pictures, logos and quotes that are compatible with several products. The more elementary, the better.
Another good idea is to take photos of the wonders you create and promote them on social media. Ask a friend to wear a shirt with your genius quote and share it with your followers.
You can place free ads on most of the selling platforms we mentioned, but each of them will charge you in its own way – check before you sign up.
There are also possible international forms of taxation that you may have to contend with if you don’t want the government to enjoy a share of your revenues.
And countless typeshow to start a business and then snooze while you get your extra income. Feel free to use and add to our suggestions, or add your own in the comments. Keep us posted on how you get on!
