7 Passive Income Ideas | Earn $1000+ Per Month
Always looking at ways to increase your monthly income? Here are 7 great passive income ideas that can pay at least $1000 per month — even if you’re a beginner and you’ve never earned passive income before these are great ideas to start out with!
This isn’t a step-by-step tutorial, but it WILL inspire you and give you ideas for how to earn passive income.
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▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬
0:00 – Intro
0:35 – YouTube – YouTube passive income, become a creator has it’s benefits but it takes time to build up your subscribers and views so earning ad revenue when you have a large audience is great but in fact you can start earning with a small audience through brand deals and affiliate marketing.
6:05 – Create a Course or Membership Site – This is a great source of passive income especially if you can show more than just general knowledge on specific topics. A course allows you to do all the work at the start and then you begin marketing it and generating sales for as long as the course is active. A membership website is also great and does involve a little more maintenance than a course so it is now as passive however a membership or fan site can generate monthly reoccurring income.
9:07 – Creating a Book or E-Book – If you are not a fan of being on camera then you can create a book that is either entertaining or educational. Just like a course though you put in the initial work at the start and then once publish either self published or published by a publishing brand you will begin earning money from book sales.
10:05 – Affiliate Marketing – This is an extremely popular way to earn passive income online. Whether you create your own website or use a platform like YouTube to publish your content you can earn money by recommending your readers and viewers to a specific product or service and if they decide to purchase you will receive a commission as a reward for bring said company new business.
11:05 – Dividend Stocks – Dividend Income investing from the stock market, requires a lot of money but it encourages you to save money, be frugal, and invest it rather than buying things you don’t need
13:15 – Create an App – This is mostly definitely a more technical way of earning passive income in the sense that you need to create the app to begin with. Fortunately there are programs out there that make app creation a little easier otherwise if you have any money to invest at the start then you could have this app created for you. Games are a great place to start and you will earn money by displaying ads to people who use your app and play your game.
15:20 – Rent Out A Room or Home – This is for those who already own a home and looking for extra cash flow, you can either rent a room in your home if you are comfortable with living with another house mate otherwise you can rent on AirBnb for short term rentals where you can sometimes earn even more money depending on your occupancy rate.
16:40 – Start & Automate A Business – There are a few grey areas with this idea as it is not truly passive when you have to work hours on it every single day but once you have built the business and hire staff to take care of the daily operations then you may only be required to spend 30 minutes to 1 hour on it per day just checking in and making sure everything is running smoothly.
17:55 – Outro – Thank you for watching, please don’t forget to like and share with anyone that is looking to add to their income streams. in fact the average millionaire as at least 8 streams of income.
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This video is for educational purposes only. There is no guarantee that you will earn any money using the techniques and ideas mentioned in this video. I am not a financial advisor and anything that I say on this YouTube channel should not be seen as financial advice. Your level of success in attaining the results claimed in this video will require hard-work, experience, and knowledge. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment. We have taken reasonable steps to ensure that the information on this video is accurate, but we cannot represent that the website(s) mentioned in this video are free from errors. You expressly agree not to rely upon any information contained in this video.