- Personal Finance»
- Income & Making Money
A Recipe for Passive Income
Is passive income a myth or a possibility? Naturally, it takes work setting up passive income systems. One of the most horrible aspects of "work" is the always starting over again for the next paycheck, hamster in the wheel feeling. One always seems to be starting from zero or worse in debt. Passive income streams, once properly set up, could be a real blessing in your life.
Sell Your Product Online for Passive Income.
Maybe you have a product of your own that you have made from scratch. If you don't, then you could make one. Or if that seems impossible then try direct sales. Direct sales companies have a system and product already in place. At the very least direct sales experience can only be an asset for you in your ultimate quest for passive income.
Write for Revenue Sharing Websites for Passive Income.
There are certain websites that share revenue with the writers. These are called revenue sharing websites or "revshare" for short. There is a great deal of freedom to write about the topics of your choice at these types of websites. These websites provide a passive income.
Fiverr With Product Download for Passive Income
There is a popular website called Fiverr in which people do jobs for five dollars. However, that is not a passive income that is considered more active. If instead of providing a service however, you provide a download the situation changes. For instance, if your offer is something like, "I will give you an eBook about weight loss for $5," then your gig becomes more about passive income. (Yes, yes, I know you still have to give them the download. But that is still pretty passive.)
Design Products and Sell on RedBubble for Passive Income.
Redbubble is a marketplace where designers can upload their original designs to place on products. There is a very diverse selection of products here. For instance, there are cards, calendars and clothes. There are also posters, tablet and phone cases. Basically, your design has a good chance to go on a wide variety of stuff and make you a commission. You definitely should explore your creative side for this one.
Passive income would be nice, wouldn't it? Some people have successfully sold their products online. Others write for revenue sharing websites like Hubpages. Still others focus on designing original work to sell. What type of passive income do you like?