3 Passive Income Ideas You Totally Should Implement to Earn Over 1,000 Monthly
Passive income ideas are numerous and setting a few in place is a good way to secure your financial future.
Passive Income Ideas
Passive income is a great, stress-free way to earn income again and again from a one-time effort.
Passive Income Definition
The first time I heard about passive income, I knew I was hooked. I mean, who wouldn't want to produce a content or product once and earn from it for life!
So the first thing I did was get on the internet to research this topic and my research showed me to a few passive income ideas that have been more than a blessing to me.
This was over three years ago and since then, I have taken advantage of these passive income ideas and set up a few passive income opportunities that keep me in money each month.
Of course, I should point out that while it's easy (okay, maybe not so much so) to pick and set up one or two of these passive income ideas, the income most times won't start coming until after a little while.
However, you are guaranteed of a steady flow of fund once these income streams pick up momentum.
What is Passive Income
Passive income has to do with earning money for a long time (sometimes for a lifetime) from effort you carry out just once.
You set up a product or content which you make available to the public for purchase and you earn money each and every time a purchase is made. So if you produced an ebook on say the topic: "100 Passive Income Ideas That Will Give You a $100 Daily" and you publish said book on your website or anywhere else, you will earn a certain amount of money, depending on your agreement with the website you publish with, each time the book gets purchase
This is Why You Should Set Up Passive Income Streams
Setting up passive income streams helps secure your financial future; taking away the anxiety and worry of not know where your next paycheck will come from.
Some Benefits of Passive Income Opportunities You Should Know
I feel I should reiterate just how important and beneficial these passive income opportunities are.
I have shared some of these passive income ideas with a few buddies who did next to nothing about it. Each time I see them struggle to make a few dollars actively writing articles for sites online, it saddens me as I know they could earn a lot more money from way less effort.
That being said, here are a few benefits you get when you activate one or more of these passive income ideas:
1. Passive income opportunities are a great way to earn money over and over again with very minimal effort. With these stream, it is guaranteed you'll always have the needed fund to fund your preferred lifestyle.
2. With passive income opportunities you undergo way less stress for possibly more money than you would working actively.
3. Passive income opportunities give you time to pursue other interests.
Once these income ideas have been set in place, you're left with very little to do and can go ahead to pursue other hobbies.
4. Passive income opportunities give you flexibility as you can work from just about anywhere.
5. They give you a secure financial future, taking away the anxiety that comes with not knowing where your next paycheck will come from.
6. Passive income opportunities are a great investment and can easily birth other imvestments as the money earned from one or more of these passive income ideas can be channeled into other investment streams to further broaden your earning potentials.
Three Passive Income Income Ideas that will Earn You a $1,000 or More Each Month
There are ton of passive income ideas open to anyone looking to earn and blogging is one of such ideas with such huge potential for success.
You should however know that while blogging can make you rich, it is not a get-rich quick scheme. It is also a lot (emphasis here) of hardwork; work that can be a little back-breaking.
Setting up a blog starts with getting a unique domain name like yahoo, Google, or divasclan and then hosting said domain with a host company.
Some reliable host providers you should check out include:
- Blue Host
- Dream Host
Once your domain is hosted, your next course of action would be to fill up your website with good, valuable content. You can choose to write on just about any topic , but be sure your content is valuable and provides solutions to everyday problems.
Yo can get to find out what people are searching for by using web search tools like Google Keyword Planner or Neil Pattel's ubbersugest. These are two great tools that show you what people are searching for online and how often these searches are made.
Once you get these keywords, you then proceed to write your article, making sure your keywords (searched words) appear a number of times throughout the article (the ideal number is 1-3% of your entire article word count).
Once you've filled your blog with about 20-30 of these relevant content, you will notice your site will start to get visitors (called traffic) who searched for and were directed to your blog from search engines.
As you continue to produce more relevant content, your visitors grow and once you start to get over a 1,000 daily visit, you can think of monetizing your blog.
There are a few ways to monetize and some include:
- Google AdSense
- Affiliate Marketing
- Sponsored Posts
- Sell Your Own Product
One beautiful thing about blogging as a passive income stream is that you continue to earn from the articles already written for several years to come as they are already optimized and will continue to bring in traffic.
With blogging, you can earn a $100 monthly, or earn several thousands of dollars, so long as your site remains up and running.
2. Revenue-Sharing Sites
Earning from revenue-sharing sites is another great way to earn free money online.
Revenue-sharing sites are sites that share earnings with writers who submit content and they are also one of the passive income ideas where you have more than way to earn from. You earn from the ads placed on articles you submit and you can earn up to 80% of the revenue gotten from your articles.
These sites drive traffic to your articles andyou earn when any of the visitors click on your ads or puchase an item using your affiliate links.
Some of the ways of earning on revenue-sharing sites include:
- Google Adsense
- Amazon Affiliate
- EBay Affiliate
- And Other Ad Programs
Some really great revenue-sharing sites include:
EBook publishing is yet another great way to earn passive income for life. This is one of the passive income ideas I stumbled upon three years ago and took immediate action on.
I currently have about 49 ebooks on various niches published on Amazon Kindle Direct Publishing (KDP) and I earn anywhere from $300 to $500 dollars monthly.
One beautiful thing about eBook publishing is that you can
These are just a few of the passive income ideas you can earn money from. There are a lot more out there, however, I have learnt from experience that trying to engage in too many would be stretching yourself thin and you will likely burn out from doing so.
If you take the time and put in the required effort, even one of these passive income ideas is enough to set you up financially and give you the financial freedom we all crave.