5 Easy ways to Passive Income:-
If you don’t find a way to make money while you sleep, you will work until you die.”_Warren Buffet
Have you ever desired a passive income? Do you want an increase in your monthly income? Here are some solutions you can increase it. Passive income needs time to start increasing. There is no such thing as passive income, you can call it leveraged income. You still need to get some work done to earn this income. You have to sustain it. But by following these ideas you can 3x your monthly income:-
1.Renting unused space:-
Generating Rental income is easy. You can rent unused space in your home. It can be your room, backyard, garage, basement, and Driveway. By renting unused space your property itself can make money. You can also invest in land for building apartments and can make it a source of your income.
You can rent out your space on the following websites:-
For renting a room:- https://www.airbnb.com/, https://www.homeaway.com.au/ You can also rent out your apartments or Holiday homes with the help of these websites.
For renting backyard:- https://yardyum.com/, https://www.shadowoodfarm.com/
For renting Garage and Basement:- https://www.neighbor.com/
For renting Driveway:- https://curbflip.com/
2.Renting a Car:-
Awake your entrepreneurial spirit and Rent out your car. Don’t spend your time sitting idle? If you have your car it can be a plus point for you. You can rent out your car and can make money. You can rent for a day or a few hours. Here are some websites through which you can rent out your car to your neighbors or strangers by just listing your car on these following websites.
You can rent out your cars at:-
Turo:- https://turo.com/
You just have to take good photos of your car. Filling calendar when and where your car is available. Setting price. You will earn 65% to 85% of the trip price. It is available in U.S. cities and some provinces of Canada.
Getaround:- https://www.getaround.com/ Renting a car on Getaround is easy. You just have to log in and rent a car.
3.Investing in stocks:-
Make money work for you. Investing leads to a happier ending for you.
“Never depend on a single income, invest to create a second source.”_ Warren Buffet
Before investing in stocks, keep this thing in mind that don’t invest in a single stock but invest money which you want to invest in two or three different stocks. “Don’t put all your eggs in one basket”. In this way, you can lessen the risk If the value of one stock is decreasing your other stock value can increase and you can save your money.
Some of the best stock Companies with higher return rates are:-
- Facebook (FB)
- Alibaba Group Holding (BABA)
- Nexstar Media Group (NXST)
4.Creating youtube Videos:-
Youtube has 1.9 billion active users. You have to provide valuable content. If you have any skill to teach you can make online courses or make tutorials on youtube. If you have any talent to show you can show it on youtube and can gain an audience by providing a good quality video. You can make informative videos or can share book reviews or can make audiobooks. Inform, Benefit your readers and help them to solve their problems. You can also earn money by ads on your youtube channel. If someone from your viewers clicks this ad. You will get 55% of an average riser paying to youtube. You can shoot just by using your mobile or if you want to make better quality videos. You need some types of equipment for youtube:-
- Camera
- Microphone
- Editor
- Screen Recorder
- Good lighting
5.Build a Blog:-
You can enhance your writing and thinking skills or can connect with people. You just need a domain name (name of your blog) Hosting service and niche (specific idea) about what you want to write. It can be Finance, Tech, Fashion and beauty, Food recipes, and fitness. You can build your blog with WordPress or can develop it with coding if you are a programmer. If you are not a programmer WordPress is the best option.
One of the best Hosting services is Bluehost. You have to do better SEO(Search Engine Optimization) or in WordPress, you can use plugins which help you to rank at the top of the google search results. You have to drive more traffic for more money. You can also sell your products and ebooks etc. on your blog. You can earn more money by putting sponsored ads on your website of different companies relevant to your blog or can do affiliate marketing. Amazon Affiliate marketing gives a 10% commission. But you can earn money by this way only after gaining more traffic. You have to provide valuable information to the reader, Solve their problems, and benefit them by giving solutions.
Conclusion:-
So, these are the five ideas which I wanna share with you guys if you want to work on these ideas my best wishes are with you. If you find it helpful share it. If you want to add something please comment. For more informational medium stories follow me.
