25 Best Passive Income Ideas To Increase Your Income In 2020.

What is passive income

  • This is money you earn in a way that requires little to no effort or with minimal activity on a daily basis on individual part.
  • You can also say it is when you get paid continuously for work long after it is done.
  • Is when you get revenue from investments where you don’t have to be present to earn it.
Ways to earn daily online

Before I talk about my discoveries on different multiple sources of income one can try online, I must admit that I had zero knowledge about online marketing or use of social media platforms to make money. Although I saw people or companies advertising on internet about their services and products, plus multi level networking that guys had approached me to join, that is what I thought online business was . If that sounds like you, then grab a snack or a drink and continue learning with me as you read along.

Having a background from selling insurance and investment products, the only way I knew how to earn income was by going out and getting more clients. I have now learned about a ton of different strategies to earn money online that I never thought existed before. I developed interest on researching about passive income ideas and how I can have multiple sources of income when I read a quote somewhere that “when you have one stream of income, you will work for the rest of your life and die poor”. That was a wake up call for me that got me thinking and asking myself questions that proved the quote right.

I was oblivious about the fact that one could make money online. Thanks to amazing YouTube tutorials from experts and blogs that I followed and my mindset changed completely when I learned how to use my online presence to earn real money and create wealth for myself. All things are possible if you are willing to act by modelling those who have succeeded in what you aspire to be or do, not forgetting to make Google your friend!

1.AFFILIATE MARKETING

Affiliate marketing is one of the most lucrative ways to make money online in my opinion, especially for beginners who do not have capital to start any online business or create their own products to sell.

This in simple terms is promoting other peoples products, services, software, digital products etc. using a specific link and when a purchase is done through it, you earn a percentage of the profit from sales.

How To Start as a beginner

  • You find a product you want to promote in the niche of your interest.
  • Do a search for “product name” affiliate program. If it is on Amazon you can also promote it.
  • Sign up for their affiliate program.
  • You get a special link that allows the merchant to track the people who clicked your link.
  • Create content in a blog post specific to your affiliate offer using eg. review post
  • If they buy the product, you get a commission.

You can check out for more information on affiliate marketing Here.

2.YouTube Ads

YouTube is one of the biggest money making websites. If you are YouTube lover like me, you must have noticed some adverts either in the beginning, during or at the end of a video. I know they may be annoying at times because of interruptions but if you watch the Ad to the end, then the youtuber earns from that. If you plan to start a YouTube channel, it is very easy start making money continuously because all you need to do is turn on ads every time you publish a video. The more viewership you build the more money you earn and it doesn’t matter when the video was published. Besides Ads there is CPM which is the amount of money you get paid by YouTube per 1000 views from google AdSense. If you want to learn everything about starting a YouTube channel, how to get 1000+subscribers fast , which thumbnails to use, mistakes to avoid as a beginner, becoming a brand and a pro, other ways to make money as a youtuber and many more, the list is endless. This man has revealed all the secrets most people would not tell you.

3.FREELANCE WRITING

This is professional writing on whatever material needed by clients and upon completion they pay an agreed amount on a self employed basis. It is generally any sort of writing articles as an assignment that you do for a fee. You can gain exposure by writing for larger websites. When you become a pro and people like your work, they will start calling you to write their articles whenever they have an opportunity instead of you looking for them. If you get to that level, you can be the one to decide how much you will charge per number of words or per article. If you are good in writing skills, then this is a good area to consider and get that earn extra income working from anywhere at anytime.

4.DIGITAL PRODUCTS

A digital product is any product sold online that doesn’t have physical form, though some can be turned into physical products eg an e-book can be printed by anyone who buys them. This products could be inform of PDFs or videos showing how to do something and what to use in order to achieve a particular outcome or goal. If you are creative and innovative you can easily have your own digital product to sell to your target group.

Some of the advantages of having a digital product include:

  • No costs related to materials or assembly
  • Customers receive the product on soft via email as soon as purchase is done.
  • No matter how bulky it is you don’t need to find a place to store the product unlike when it is physical.
  • Most of them are at affordable prices because no intermediaries are involved, it is from seller to buyer directly.
  • Safe and can be accessed anywhere.

5.ONLINE COURSES

When creating an online course, make sure it is of high quality and it adds value to the intended customers. It is not so easy to create one because so much work goes in it to ensure perfection otherwise you may loose your customers very fast when you don’t achieve their expectations. Normally it is a series of learning materials that will eventually satisfy the need of your clients in a simple and summarized way and whoever follows the steps gets all their questions answered in a specific area.

Most of this courses being online, may be for computer literates. People ask, how then do I help interested people who have difficulties in technical steps involved in order for them to go through the course successfully? Good question. Check out this amazing online course as an example where the whole process including creating a website, is done for you and all you need to do is run it using basic knowledge. How cool?

6.COACHING

You can use internet to build up a couching business if you have any expertise in a specific field. How much you make depends on the value that you add on the people you are coaching.

7.GOOGLE ADSENSE.

You simply sign up and google gives you a code to copy and paste onto your website and they do the rest while you get paid anytime someone clicks on your Ads and/makes a purchase.

You can earn pretty good income for short or long term depending on your niche and products ads.

8.SPONSORED POSTS.

This are articles that a blogger or website owner is paid to publish on their own sites by companies, businesses, and brands related to that site’s niche or topic. Sponsored posts can be written by either the site owner/blogger or by the sponsoring brand itself. If you are good at it you can keep increasing your rates over time. Blogs with more traffic can easily earn at least $10000 per sponsored post.

With that said, I definitely would recommend that you only work with companies you believe in and feel good promoting, for you to succeed this way. For that reason, you gain trust from your readers unlike if you promote anything and everything that do not even align with your values.

9.SPONSORED SOCIAL SHARES

This happens when a company pays you to post about their products/services or anything about them on social media platforms eg. Facebook, Instagram, Twitter, LinkedIn etc.

10.DISPLAY Ads

Here, the reader doesn’t have to click on the ad for you to make money. You can think of it as the billboards that you see displayed on the road. With this ads, you get paid based on the number of times your ads are viewed no matter what. This will work better as traffic to your website grows over time.

11.TEXT LINKS.

When you are reading an article on the web and you see highlighted words, those are called text links. When you click on them, they take you to another web page. How do you earn from this? good question. You can get companies willing to pay $100 or more for you to insert a link from your website to theirs.

However, selling text links is against googles terms and conditions. If you do this consistently, your website will tank over the long term.Selling text links is therefore not a good long term monetization approach.

12.SELLING LEADS

If your website attracts a lot of traffic, you may get companies in the same niche willing to pay you for leads. Eg. if you are talking about insurance products and maybe reviewing pros, cons and their benefits from various companies, your readers may leave their contacts , email addresses or ask questions on how they can get the products and opt in. This are ready prospects that insurance companies may contact you to sell them the leads at an agreed cost.

13.BOOK OR e-BOOK

You can consider writing a book about any topic you want inline with say an idea or hobby and sell copies online for many years because once it is out there, you can just keep selling it over and over. If you have social media following like on a YouTube channel, this could play a big part in your sales in terms of branding and positioning you, getting leads and passive income over time.

14.SELL A PHYSICAL PRODUCT

If you are keen while watching, youtubers with a huge following have products of their own that they sell or they own stores for their products that you can purchase online and they then ship it to wherever you are, or deliver to you if you are within the same area. Examples of this products include:-Branded T-shirts or hoodies, mugs or products sold on amazon and Alibaba. This is a good way to earn extra real money. Make sure you explore the different products you could sell whether it is your own product or drop shipping products you market as an affiliate.

15.SELLING STUFF ONLINE

This can be well done if you identify your target group and their needs mostly on social media platforms like Facebook and WhatsApp groups. If you have items to sell and you don’t mind spending some time creating free ads on Facebook or a website like Craigslist.org, selling stuff is a great way to use the internet to earn more money online.

16.BUYING AND SELLING WEBSITES

In this case, people buy already made websites that have traffic ready due to the contents in it and have been running for quite sometime. This helps them earn passive income over time even if they decide not to put any effort in updating them. Some people buy the websites and update them to sell at a profit.You can check out Flippa.com if you are interested.

17.REAL ESTATE INVESTING

Another very good way of making passive income. Real estate investors have lots of other options when it comes to choosing investments, and they’re not all physical properties.

Ways to make money in real estate include:

  • Becoming a landlord of a rental property.
  • Flippers buy undervalued real estate, fix it up and sell for a profit.
  • Real estate investment trusts(REITS) – Provide real estate exposure without the need to own, operate, or finance properties. A corporation(or Trust) is formed to use investors’ money to purchase, operate and sell income-producing properties.

You can invest a certain amount of cash and whatever income comes from the real estate is shared among investors without any effort whatsoever.

18.INVESTMENT GAINS

There are many ways to invest online these days, like online brokerage. So start investing your money and grow long term wealth today.

19.AMAZON KINDLE BOOKS

This is where you write and publish a book.When you upload on amazon.com,it will be promoted and people will give reviews hence traffic.70% of sale is yours.

20.WEBINAR

This is an automated video or process that will sell your products to your audience. You can couch on your expertise at a fee using one video for as long as it stays relevant.

21.RENT CAR OR HOME

You can rent your car for hire and charge daily without having any extra cost on gas or driver. It is the same as when you have a home that you don’t live in often, you can opt to rent it out in the period that you will be away.

22.SURVEY SITES

Did you know that there are sites that pay you for your opinion on their surveys? Well, now you know. You can spare a few minutes every day to do a survey and earn from that. Well you don’t need any qualifications in most cases for your opinion to count, so anybody can do this. You can check out survey junkie as an example.

23.HIGH YIELD SAVINGS

This is another good way of earning sleep money. All you need to do is have a savings account where you earn interest daily, monthly or even annually without worrying how and where the cash is invested as long as you get your interest as agreed. This is common in bank fixed deposits and some unit linked products that give compound interest.

24.NETWORK MARKETING

This is method used by many people around the world where it is referred as multi level network marketing. All you need is to introduce people to sell a specific product and you get paid from their sales too. If you have created a large network, you can earn passively without any effort because all the people you introduced literally pay you.

It is common in consumables like coffee, health products, food supplements e.t.c.

25.DIVIDENDS INCOME

This is when you invest in stocks and earn income from dividends paid. It is advisable that you buy stocks when the prices are low so that you realize growth as prices go up. The time frame for growth is however not guaranteed, so you need to have a high risk appetite. You may need an expert to guide you on when to buy or sell if you are a beginner.

conclusion

These are just some of the ways you can make money online, the list isn’t all inclusive. We didn’t talk about about membership platforms or a ton of other strategies. If you need to earn more money on the side, remember to think about all the different ways you can earn money with the internet. Even if most of the strategies mentioned don’t sound like much fun to you, chances are that one or more ideas is perfect for your lifestyle and goals. Remember, for any product or service you are selling, have a checkout page where people can check out and purchase your product.

Start your journey to Financial Freedom today!

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