24 March 2023, Bangalore, India
Income means to earn money and there are two types of income passive and active. Active income means your main source of money which can be a job or a business. Passive income means the money you earn by doing less labor or it can be understood as a side job. Who doesn’t want to earn more money? Here is a list of Top 10 Passive Income Ideas to earn more money.
“Every pound is a seedling.
Invest your seedlings to create a tree.
Re-invest your seedlings to grow a forest.”
― George Choy, STEALTH MILLIONAIRE
Table of Contents
Here is a list of the Top 10 Passive Income Ideas:
Rent out your car
You might wonder how can you earn money from your car. Here is how, you can rent out your car on Uber or Lytt. You can also give your car to your friends and family on a rental basis or to a private and small company in your locality. This way your car will earn you money while you are sitting and relaxing at home.
Rent out your house
If you have another house you can rent it out to someone. But what if you don’t have that extra property? What if you don’t have enough money to invest in property? Here is a solution for this problem, you can lend out the spare room of your house. You can list it on apps like apartments.com, homesnap or rent.com. These apps help you to list your apartment and connect you to the customer.
Create an online course
What if you don’t have enough money to invest in car or property? Don’t worry you can still earn money.
You can use your skills and knowledge and put them to work to earn you money. How? By creating and selling courses.
Suppose you are doing graphic designing, content writing, have a lot of followers on Instagram or a lot of subscribers on YouTube, you can make courses teaching how to do graphic designing or increase your followers. Eventually, you can sell these courses on your Instagram or use apps and websites like Skillshare.
“My rich dad taught me to focus on passive income and spend my time acquiring the assets that provide passive or long term residual income…passive income from capital gains, dividends, residual income from business, rental income from real estate, and royalties.”-Robert Kiyosaki
Content writing
Those who are just starting out and do not know how to generate passive income or cannot figure out where to start can start by content writing. This is something that you can easily do if you are in college or if you are doing a job and not getting enough time to do other things.
Writing is something that can be done in a much more effective way if practiced over time. Create a resume and start applying to different places. You can use apps like LinkedIn, Fiverr, Upwork or Internshala to apply to different places.
Content writing is something that a beginner can even do and generate passive income.
In today’s times, entrepreneurship is emerging and it is the right time to start your own business. You can start a restaurant, cloud kitchen, shop of raw materials or anything else of your interest.
Start your online Business
If you don’t have a large sum of capital to invest you can start a business from your home like selling homemade candles, accessories, clothes, etc. This kind of business requires little investment and can boom with the right marketing and branding. You can sell your products on Instagram, your own website or amazon. This is a great way to earn more money with little investment and effort.
App development or web development
With the increase of businesses and startups all over the world, there is a huge demand for web developers and app developers. This passive income is one of the best paying and can help you earn a lot of money if you have the skills. You can do it for your friends, startups, companies, etc. You can find your clients with the help of LinkedIn and apply for the opportunity. You can also use other apps to generate leads and then apply.
Become an Instagram influencer
With the introduction of Instagram reels, many new users have signed up on the platforms to get entertainment or de-stress their minds. Some use Instagram as a platform for their own fun but many others are using Instagram to earn money. Now the question arises, how?
You don’t necessarily need a lot of followers to earn money from Instagram. You can do a brand collaboration, affiliate marketing, etc. now Instagram has introduced reel bonus, so you can earn a good sum of money if you are making content that is trending and can go viral.
Invest in stocks
Now investing in stocks can be tricky and requires practice and skills, but if you learn how to do it right you can earn a lot of money with little or even no effort.
There are many ways through which you can learn about the stock market you can use YouTube videos or paid courses by people who are earning a lot of money from the stock market and are reliable. Do your research before starting to invest.
You can use apps like TD AmeriTrade and E*Trade to invest in the stock market.
The best thing about stock trading is that you don’t need a large amount of money to start investing, you can start small and then increase your investment as you gain confidence.
Invest in properties
If you are earning a good amount of money from your active job and want to put that money in use. You can start investing in properties.
Property is something that gets valuable day by day. As the population is increasing so is the demand of people and the supply is less. You can invest in land, buy a house, buy a commercial space, etc. Take help of your friends and family to locate such kind of property and buy it.
Later on you can sell these properties when its value increases or you can rent them out for sometime and eventually sell it.
Start a YouTube channel
It is one of the best way to generate a passive income with no investment. You can literally start using your phone. Create a YouTube channel, choose your niche and make few videos to get comfortable. You can make videos on anything which excites you or which is of your interest. Consistency is the key on such platforms.
You can earn money from the views and after obtaining certain subscribers or from affiliate marketing or selling your own course. But first you need to build your audience and learn what they want from you and how you can benefit them.
FAQs About Top 10 Passive Income Ideas to earn more Money:
How much money can I generate through passive income?
If you make passive income seriously and work consistently then you can earn more money than your active income.
Which are the best apps or websites for passive income?
There are many websites that post opportunities like LinkedIn, Fiverr, Upwork, etc. These websites help you to connect with recruiters and you can apply using them.
How much money I need to invest to start passive income?
For some of them like YouTube channels, and Instagram influencers, creating and selling courses, you require no investment. For renting out car or house and for investing in properties you require a good amount of capital investment.
What are the other passive income ideas?
Other passive income ideas can be starting a podcast, affiliate marketing, drop shipping, etc.
Conclusion:
These are the top 10 passive income ideas that can generate a lot of money for you. Some of these requires huge capital investment and some no or very little capital investment. Through these, you can even earn more money than in your current job.
