8 Easy Passive Income Ideas

theceoedition

5 September 2022
6 min read

Working hard to make more money is something everyone does. But making money while you are sleeping is something great to consider. However, this can only be achieved by exploring the best passive income ideas that will work for you.

Table of Contents

What Is Passive Income?

Passive income is extra money earned with minimal effort from sources other than conventional employment. Once you establish ways to make money on the side, you start earning passive income without having to put in too much effort. But that does not mean you will not put some effort into sustaining the income.

In this article, we will share with you some ways to make passive income, including selling digital products, blogging, YouTube, online teaching, and many others.

If you want to become a millionaire overnight, this article is not for you, but if you have been looking forward to generating passive income in a natural flow, this article is for you!

Let’s go!

Best Passive Income Ideas

1. Start a Blog

Blogging is becoming a reliable stream of passive income. However, starting a blog may not be easy; you will be required to create quality content and promote it through various platforms such as social media and other websites.

Once enough audience is established, the blog is ready to monetize, and income starts streaming in. If you have been wondering about how to make money blogging, here are some of the ways:

Running Google ads
Selling products – can be through affiliate products or your products.
Sponsored posts

The main advantage of starting your blog is that no technical skills such as coding are needed. All that is required is a content management system and a reliable hosting service.

The fee for hosting a blog is very affordable.

If you want to maximize your earnings, a great SEO marketing strategy will greatly help promote the content. If you do everything right with content and content promotion, the tentative return on investment can be over $40,000 per month.

2. Start a YouTube Channel

YouTube is an excellent source of extra money.

Before you can earn through YouTube, you need to create an account. Once the account is active, you are good to go to populate it with content. Depending on your interests, skills, or hobbies, you can choose the kind of content to upload to your account.

Account holders must build enough audience per YouTube guidelines to start earning money. Over 70% of adults worldwide use YouTube, and that’s a lot of people to capture an audience from.

Well, initially, it may be a little hustle, but with consistency, you will get your audience. Of course, a little patience is needed, but the potential income is relatively high.

Sponsorships, affiliate sales, running ads, clicks, and views are some of the sources of YouTube channel income. In the long run, you may find yourself earning more revenue from YouTube than your salary

3. Sell Handmade Products Online

Do you have a hobby that can help you create products?

Do you enjoy painting, drawing, knitting, or crocheting?

If your answer is YES, then you are in a better position to make extra money by making things to sell to make money. In addition, this is the right time to sell things online because there is a solid online presence, and billions of people have access to and are connected to the internet. Therefore, the internet creates an excellent opportunity for people to do business online.

If you can make a few paintings or crochet a few products during your free time, then you can sell them through many online platforms available. Some popular sites where one can sell products include; eBay, Amazon, Etsy, own online stores, and social media platforms such as Instagram, Facebook, and many others.

4. Get Paid to Read Emails

Is it possible to get paid to read emails?

You may be asking this question. right? The answer is yes, earning extra money by reading emails is possible. Many tools online can help you generate passive income by just reading emails.

The idea is getting paid to do what you love, and if you enjoy reading, this could be a good source of extra money. Companies seeking to promote their products always share information with as many people as possible. Therefore advertisers pay specific sites to share the word with a vast audience.

In turn, the selected site, usually known as the GTP site, shares the responsibility with readers by paying them to read emails.

Reading emails to get paid will not intently make you a millionaire, but it is an excellent way of making extra income during your free time. On the days when you are not working and wondering how to make more money on the side, then you can get paid to read emails.

5. Record Audio Books and Earn Extra Money

Are you a good narrator? If you answered yes, then you can earn more money on the side by recording audiobooks and getting paid through royalties.

Recording one book can earn you royalties for a long time, making it a great source of passive income.

To make extra money from audiobooks, you need to have good narration skills, editing skills, a specific niche (you cannot narrate books on topics you are not interested in), and audition skills. Some sites help you get started and land a few jobs, for example, ACX.

6. Sell Digital Products

Digital products are intangible assets, including kindle books, flowcharts, software, PDFs, templates, downloadable Video games, and many more. These are a good source of passive income, and they generate high revenue because you just have to create one product and sell it to many clients over and over.

Sometimes you may need to modify your product to re-sell it.

If you have the right skills to create any of the digital products, you can make some more money on the side by selling them.

7. Sell Spreadsheets

Some people have deep mastery of spreadsheets. If you are one of them, you can make more money on the side with this skill.

Excel and Google sheets can be used to create spreadsheets, and there is a market for all kinds of spreadsheets: Schedule planning, budgeting, P&L spreadsheets, and many others. Some individuals and businesses never want to spend time creating spreadsheets, so they buy them.

If you are a master in this field, why not make it a source of your passive income?

8. Create Online Course

Teaching online courses is another great way to earn passive income. There are few barriers to entry, and you can teach via various platforms, the common one being YouTube.

If you have knowledge and experience in a subject that could benefit others or provide a solution to common problems, you can create a course and sell it online. Many people turn to the internet as a source of knowledge and research. Therefore, there are high chances that you will get buyers for your content and make some passive income.