Whether it’s a student, a homemaker or a working professional, a source to earn an extra chunk of money to sponsor the extra desires is always sought after. Most of the people just keep thinking about earning from a passive source, but do not implement it because of many reasons. One of them being, the dearth of ideas and the courage to start something new.
So, here is the list of 5 great ideas, that can help you earn big in the near future:
If you have a knack of writing, start your own blog or website and provide some useful and helpful content to the readers. Promote it to gain traffic, by updating your blog with quality content, which the public wants to read. When your blog gets enough traffic, you can monetize it with ads which can generate some passive income for you. You can also pitch brands for sponsored posts, and once you become an influencer, there is no turning back.
If a camera is your best friend, you can also transform this hobby into a source of passive income. If you are good at taking high-quality pictures, you can get them licensed by uploading them to stock photo website such as iStockPhoto, for which you get a royalty whenever someone downloads your picture. You can also work as a freelancer on platforms like Fiverr and offer your photography services to those who are in need.
This may be time-consuming and requires a lot of patience. But if you are good at writing e-books, you can put up your e-book on sale at various commerce platforms. You can also earn royalty by getting your e-book converted into Kindle eBook. Along with that, you could also use your writing skills to write contents. You can work as a content writer for many websites and earn on the basis of the number of views your content gets.
This may take a while for you to earn, but it is real fun. You can create your own YouTube channel upload some useful and relevant videos to it. You need to have a large number of subscribers, for which you can promote your videos through social media and your blogs. You can also get your video embedded into your blogs and when someone views your video and sees the ad, you will get paid for it.
If you have a thing for finance and have spare capital, you must definitely try your hands in this. This may actually be the biggest source of passive income. Investing in different fields like real estate, crowd-funded real estate, stocks, mutual funds, etc. However, if the amount of capital is high, you can buy a flat and rent it to generate some income. You can also invest in stocks which provide dividends to its investors. And if you have idle cash, the best way to use it is to invest them into mutual funds, by obviously being aware of your risk appetite and financial goals.