6 Easy Methods Making Passive Income Online
Many like me want extra income to improve the standard of living. The actual salary earned do not meet expectations. Other assets that generate money can help. Such incomes as rents, interests on a savings and deposit accounts are passive.
The money invested in savings and deposit accounts is a product. Banks loan out the money and generate interest The interest is passive income, and you received a certain percentage. Here is one best definition of passive income: "Earnings an individual derives from a rental property, limited partnership or other enterprises in which he or she is not actively involved." In other words, your money does the hard work, and you earn.
Making Smart Passive Income
I create a product at a cost of $500 and recovers the $500 in 4 months. The same item still sells in the market for months. I gained an additional $800, after recapping the $500 profit. If I continued to earn more than $800 monthly, it is still active passive income. This is the concept on which passive income is well understanding. I do not think the definition made in the introduction has made it clear.
Let's take another example. Let's say, you buy a house for $30,000.00. And you rent out the house for $5,000.00 a year. After 6 years, the actual cost is actualized. Any money coming in year after year is real-time passive income.
So, passive income is the money you continue to substantiated after the $30,000.00. Hope this is now clear.
Be Your Own Boss
You can work at home at your convenience. But you are not conformed to the living room alone. With a Laptop or Notebook, your location is now global. Anywhere promising for you is practically your location! You can be your own boss.
With a Laptop Passive Income Can be Realized
You are not Confirm to the Living Room to Make Passive Income
Does doing business online to make passive income required the comfort of the living Room alone?
Are You Confined to The Living Room to Make Passive Income?
Why the Internet is Important to Make Passive Income
The internet is important for the following reasons.
- Many unemployed persons are getting self-employed via, free lacing online.
- Many of the offline firms are now getting online their products and service.
- Best affiliate programs.
- The internet is a global market.
- Whatever is sold offline can now be sold online
Read to Inform Yourself
Do you read to inform yourself, and advance your knowledge, and understanding of the issues at hand? One must read and read widely. They say readers are leaders.
I read to see what other authors are saying on this subject of passive income before I put pen to paper. I noted the competition. I note the challenge presently and yet I went ahead to write on this ever wide and saturated field.
This is why I and you should read. Read all that you can about other practical best business ideas to make money. Above all, add any experience you may have, however, small. This makes it a practical reality. I am a homeowner and I rent my rooms and make passive income.
Smart Passive Income Ideas
Are you ready? Join any one of these very successful businesses online as an affiliate. By far, one of the best ways to start earning passive income is to go online and become an affiliate. Here you help promote the products of others or you refer your friends or recruits and earn a commission. This may be for life as your referrals continue with the program because any sales generated, you receive a certain percentage as your commission. Again you will learn that you are being directly mentored.
Passive Income Earnings
Becoming an affiliate online to make money is good. It all depends on your ability, determination, and hard work. You must combine both mindsets of determination and hard work. It is easy when you pass the reason for and against. It is hard because you have to work long hours before you see that real income bankroll into your bank account. You have to be focused, work hard and make headway. The result of this pays well in personal and financial freedom.
If you join a top affiliate program, you are entitled to earn money plus commissions. This can be anything from 20%. The commission will depend on sales generated (purchases) or referral you made, or duplication. When you refer people to buy something online, you will receive a commission for whatever they buy.
Let's do basic math for earnings to be expected. For one sale or referral, you made online say it is $30 just for a day. 20% of this is 20/100 x $30 which is $6. Suppose you make five sales or referral in a day, this is 5 x 6=$30. And as long as your referral continue to make purchases, you continue to receive commissions. The more you refer to or more sales, the more your commission. This is the essence of an affiliate program.
Daily Earnings ($)
Earn Passive Income in Dollars
Do making passive income online required any qualification? Do one have to be qualified as a computer operator? No, but learning the practical basic or fundamental principles is essential. The ability to read and write is basic to all internet marketers, story or article writers. An additional qualification like a degree or diploma may make one an expert on a technical point.
Basically, you must know how to operate the computer keyboard. That is all that is needed initially. I am not saying that you should be a computer guru.or an academician. No. Majority of these professionals cannot and has not made a dine on the net! They can if willing to do so. I am unable to type or operate the computer keyboard for years. But just to make headway on the internet, and make some internet money, I went for a three months instructive course. I benefit. So you too can do it.
Learn How to Operate the Computer Keyboard
Computer Training to Earn Passive Income
A Mini Computer Notebook is a Mobile Tool
Multiple Streams of Passive Income
You can not get on just one path to make a smart passive income that can meet all your monetary needs. Do the regular income you get from your monthly pay solve this issue? The answer is a firm no. This is also applicable to passive income. Every internet marketer knows this. So we strive to get at least two more ways to strike the gold.
Take this article as an example of how one could make money more than one way out of it. The first is that it is an article. It will be published. Two, this hub can be modified to make an e-book. If successful, earn some money. Three, we can produce the e-book in the form of a CD or DVD disc. More money comes in. We can make the hub a teaching material at a seminar, workshop or webinar. Still, more money will come from this effort. These various pathways create multiple streams of passive income all from one source, an article. Whatever ways you want to make some bucks online, make sure you snowball into multiple streams of passive income.
Concept of the Experts
I am compelled to make abstract on what some of the experts on this subject have opined so far. I call this path to make a fortune.
How to earn more and work less, from Scott Allen.
- Work at your job and use some of your hard earned money to buy assets that will yield passive income for you.
- Create a product that people will buy over and over again..
- Engage affiliates to sell your products.
- Taxes on passive income is less than on active income or none at all.
- How could you make money off the works of others? In other words, you have to promote an affiliate program online to make money. This can be done offline also.
Another Experts Guide
Various other experts have an opinion on the subject of passive income. I will again give an abstract. How to retire early by building residual income: 6 Steps
1. Live below your means (restrict your budget to things that will keep you to your longtime goals.
2. Maintain an emergency savings account of six months of income.
3. Invest extra money in a savings plan if any.
4. Your increase from a rise in your job should be split into two: one half goes for fun and the other half for savings.
5. Any other extra money should be invested in at least more than two portfolios.
6. Your portfolios should be review annually with a chance to move forward.
With all these in mind, smart move and hard work pay in the long run.
Dollars Earn as Passive Income Gives You Financial Freedom
The 6 Easy Methods
Below I describe briefly the 6 easy methods. You can make do with three or four depending on the niche you follow. Feel free to use what method(s) you fancy. But methods one and two are compulsory for working online.
1. Have a Laptop
Have a laptop computer. Any person desiring to make passive income on the net must have a good personal computer. Windows 10 is a common device. However, right there in the markets are numerous PC for one's like or choice. Ensure that your PC is internet ready type, otherwise, you just end up with a game playing tool in your hands!
2. Active Internet Connection
Have an active internet connection with one of the internet service providers in your locality. Your internet service provider may be able to advise you on the type of package available. I advise you to go for the optimum or premium package if you can afford it, for you are likely to download some internet training manuals, software up to 80MB.
Some Government Information, Communication and Technology Agencies, coffee shops, airports, and hotels etc provide free internet access facilities to the public. One can take advantage of this and I do regularly to save money from private ISP. But beware that you do not compromise your mailbox password, banking ID, and password and other personal identities to online theft.
A Laptop Connect to the Internet with USB Modem
3. Find Your Niche Market
Find your niche market. What do you want to do online to make passive income? That is your niche market. Do you want to write articles or e-books? Can you write an article about 750 words or more? Writing an article of 1300 words or more that is acceptable for publication on major websites like Hub pages will earn you regular passive income.
Still, you do not know what to do? Do not worry. There are many niche markets out there on the net like the sands on a seashore! or you can create one that suits you. For example, an online photo agency.
4. Take Your Banking Account Online
Take your banking account online. Do you have a banking account online? My initial experience with this is terrific because I could not afford to make payment online as an internet marketer. On advise, I contact a good local bank that helps me remit payment online.
Banks with a Master Card compliance are excellent for this purpose. The account must be geared toward making payment online for global benefit. You as an internet marketer likely to make payment online; and be paid.
5. Have a Mentor
Have a mentor. No one just come new to the internet market to make some passive income will strike it big.
Those internet marketers who promise you will make $1000 to $1500 overnight will scam you. You are asked to pay $25 for membership and later or immediately you will be asked for another sum of money for the professional or elite class of the site.
Neither the goods or service will come or not. It is after you are thoroughly mentored that you will begin to make headway in earning your first dollar and not $1000 as promised. Your mentor guides you until you become proficient. It depends on the niche you take. Is it e-book or information marketing?
Could you like to be a top affiliate selling other peoples products and earning some percentages of the money generated? It is up to you to decide.
Internet Mentor Training for Best Business Ideas to Make Money
6. Be Creative
Began to be creative. Start writing your article or hub if you are freelancing. There are many websites to choose from. HubPages is an example. Not long ago, Squidoo is merged with HubPages and transfer of articles has already begun September 2014.
Or you can create any marketing venture other than writing to earn passive income. That is up to you. How about a blog or advertising website? When advertisement like Google AdSense placed on your blog is clicked, you earn money passively.
First, register as a user of a website (HubPages) or create a blog
- Visit www.hubpages.com on your Google or FireFox browser.
- A new window shows up and you will be asked for:
- Your name or username, e-mail address, password and confirmation of password by re-typing it, agreeing to the Hubpages term of service and entering the turning or security number or code in the captcha button.
- Click continue and you will be taken to complete the registration process.
That is all that there is to it.
Study Resources of Article Writing
Study the rules of the article writing, especially that of the particular website you are to submit your story. Each website has its own requirements. Hubpages has its customized tools, instructions, etc for writing hubs of any category; and you have got to stick to that. Study and follow these rules and you will succeed.
Third, choice an interesting topic to write. Is it an experience unique to you that you want to share with the outside world? Is it a hobby? The topic you choose must be interesting and passionate for you to write. Just let it be interesting, informative and enlightening and a guide or reference point.
Here is a simple guide on how to plan for your article:
- Abstract: this is a summary of what the article is all about. hub pages always ask for this.
- Introduction: a brief of what is to expect in the story.
- Body with sub-theme: this is the main part of the story. Flesh, blood, and bone. Be very specific. HubPages provide thematic capsules for you to break down long prose into smaller units.
- Conclusion: round up your story. Engage the reader with a call for action.
- Reference: try to include a reference for your readers to consult.
I will conclude by saying:
- Making passive income online is not an overnight and get rich quick venture.
- It demands the best and the highest actions for a long time effect.
- It calls for a strong intellectual effort and inputs e.g. writing a song, an article, film acting, networking, and internet marketing.
- Real estate ventures required a significant sum of money and this has to be raised as a loan or from log time savings.
- Partnership in passive income ventures is risky, but resourceful and trustful affiliates can enhance the venture.
- Success is achievable with long working hours and hard work.
- The longtime effect is financial and personal freedom to do other things- more passive income ventures and leisure.
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2013 Miebakagh Fiberesima