If you want to grow your wealth, it is then important to learn ways to earn money other than the 9-5 shift work. There are many ways to earn money. You can earn money while you asleep and even with very little effort. The different passive income ideas that I am going to share with you here will help you do exactly that.
Start a YouTube Channel
With a YouTube channel, you can create content and run ads on your videos, which will earn you money whenever someone is watching the videos. You might have seen ads running before start of a YouTube video or at the middle of the video. When someone clicks on the ad, you earn money. Some ads even earn you money by just displaying on the video. How much money you will earn through these ads depends on the type of videos and country where the ad is clicked. You are free to create as many videos as you like so you have unlimited opportunity to grow your YouTube channel and increase your earning. Typically, a YouTube channel that gets 100,000 views a month will generate about US$ 800.
Invest in Real Estate
If you have handsome amount of money in hand, investing in real estate definitely is a good passive income earning option. Land and property prices increase. Buying a land or property is cheaper outside the main cities. So, if you have limited money, you can go look outside cities for cheaper land options. Land and property prices go up very much. You may find your asset is gaining its worth after a month a year or two. If you can wait longer, 2-3 years of waiting time will earn you a lot of profit. Purchasing a property and putting it on rent is a faster earning option when it comes to real estate. So, when you purchase an asset, you will start earning profit right from the next month.
Start a Membership Website
A membership website is a site where you ad content and let people subscribe to your website. You can charge people for membership or let them view your content free. Often, people let people get a taste of their content free for some time and later charge them to access the website. How much you will charge your subscribers depend on number or quality of the content. You can charge your website subscribers anywhere from $5 to $500 a month. Example of a membership website include a technical tutorial website that teaches people something, for example IT, project management or something else.
Write a Book
If you have passion for writing then you can write any number of books as you like. It would be a fun writing on your favorite subject and this will become a source of your regular income too. Once you have written a book, you can list it on various online book selling stores such as Amazon.com and others. Once listed, you can then expect regular sale and income coming from it. Even if you write just one book and sell it for example $20 and you sell 10 books in a month, you will be making $200 a month easily.
Join an Affiliate Program
You can get amazing amount of commission if you become a successful affiliate. The top affiliate programs these days include Amazon and eBay affiliate programs and among these two Amazon affiliate program is even more famous among affiliates. When you join an affiliate program, you can market the products being sold on the Internet, for example your blog, website or YouTube, etc. You are then paid a commission of 4 to 10% of the sale price. You can choose to market random products or choose one particular product and put your focus on that only.
Being an affiliate, if you are earning $3 on average per sale and you sale 50 products per month, you will be earning $150 per month. Affiliates earn less or more than that depending on your marketing effort. There are even hundreds of affiliates that make thousands of dollars every month by becoming an affiliate.
Create an Online Course
In this era of online learning, selling a course online is a great source of passive income. There are plenty of online learning websites such as Udemy.com or Coursera.org where you can sell your course. Alternatively, you can create your own website and sell your course there. The benefit of having your own website is that you keep all the income with you - there will be no one to share your income with. On the other side, if you sell your course on Udemy for example, they will advertise your course so it will sell faster but they will keep a share of income with them. The price of the course is dependent on what type of course you are selling. You can sell a course anywhere from $10 to $3000
Rent Out an Empty Room in Your House
Do you have a spare room in your house? Then why not rent it out. You can rent your room through websites like airbnb.com or others. When renting your room, you can charge your guest between $20 and $300, depending on the room size and quality of the facilities available.