Passive Income Ideas: 5 Strategies to Earn at Least $1000 Per Month
Do you know you can be making money even while asleep? Yeah! You heard right! Such is the power of passive income. I’m sure you’d want to get to a point in your life where you can be chilling on the beach or traveling to different destinations and still be making money without doing any work. A passive income stream is the goal of every entrepreneur and you should take it seriously too.
If you earn six figures in your regular 8 to 4 job; congratulations! But for how long will you continue to burst your ass working all day just to make money. Trust me, there is more to life than just work, work and work… Passive income will help you live life to the fullest. Here are a few passive income streams you should try;
Let me shock you! There are people who earn up to $30m yearly just from blogging. Blogging is no undoubtedly one of the most sustainable ways to earn passively these days. Bloggers earn money through sponsored posts, affiliate links, book deals, and more. It is true that the first few months as a blogger will need you to work extra hard before your blog start making wave. But think of it this way; you get to work hard for about two years of your life and relax for the rest of your life… Sounds goo right? That’s what blogging gives you!
To make this journey easy for you, you can start blogging about something you have passion for. Some people love cooking, you can start a cooking blog… Some loves traveling, while some others love tech, movies, games, and so on. Whatever you enjoy doing, start blogging on them and the first few years of your blogging career will be less stressful because you’re enjoying what you do even if it’s a lot of hassle.
Create a course
Are you an expert in a particular field? Or maybe you have a skill that people will like to learn. You can create a course on platforms like Udemy, Teachable, Podia, and earn good money even while you sleep. So are you good in playing piano, or you know about the forex market, or maybe you’re a tech professional in your company, or an affiliate marketer, whatever it is you’re great at, you can create a course for it and people will pay you to acquire the knowledge.
This might be your first time of hearing about a mobile billboard, and I’m sure you don’t know you can make up to $2000 per month just by using your car as a mobile billboard. Companies pay car owner handsomely for mobile advertising… How? Good question! As a car owner, you can simply enroll with companies like Wrapify or Carvertise, and they will hook you up with a brand that needs mobile advertising and they’ll decorate your car with their products and logo… that’s all! The amount you’ll be paid will depend on certain factors like duration of advertisement, car model, your car’s daily route, and so on. This is one of the best ways to make extra money without doing anything. You can earn as high as $5k if you work for big brands like Coca cola or Pepsi.
Create an app
Launching your own app might seem a daunting task, but you can achieve this with few simple steps. First, come up with an idea that will sell, secondly, contact any app developer to help you create and design the app, lastly, advertise/create awareness. Here are a few tips to help you create a successful app;
- Make sure your app helps solve a problem or it’s a fun app (like game apps)
- Make sure the app design is clear and authentic
- Your app should be easy to navigate and understand
- Advertise, advertise, and advertise again, get the information to the ears of as many people as possible
Creating an app is a good way to invest and reap the reward overtime. But I have to be honest with you, this is a very competitive market. To be successful in this market, your app must offer a compelling value and unmatched user experience.
Just like in selling digital courses, selling E-book is another way to sell a particular skill set or expertise. The only difference is the way the information is packaged. The interesting thing about writing an E-book is that you may not be an expert on any field and you can still write something people would love. You can write a novel based on personal experience, you can write a cook book based on the way you cook personally (you have to be a good cook though).
One thing is certain, when you provide value to your audience, it means more money in your pocket. More than 5b people uses electronic devices, and if only a fraction of that can download your book, then you can go to sleep every day with a smile on your face. Provide value through your book, solve a problem through your book, it can even be a book about religion… No matter the niche you’ll like to write about, you can earn a fortune if you do it right.
Passive income streams can give you financial freedom. I mean, you wouldn’t want to travel the world and not bother about their 9 to 5 job? Everybody will like that, but they can’t because they need their 9 to 5 jobs to survive.
The good news is that there are many easy ways you can earn passively without investing too much. Some don’t even require any investment at all… You only need an idea, then invest your time and energy into the project and you will reap the reward overtime.
Explore the above ideas and you could be on your way to making good money even while you sleep.
OHH and you can join our affiliate program!