Are you tired of working a 9-5 job that barely pays off all of your bills? It’s worthwhile to look into traditional and reliable sources of passive income.
4 Traditional Streams of Passive Income
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Believe it or not, there are so many passive income opportunities that are available to you. Why not take advantage of these, especially if it means breaking free from the rat race by earning a reliable source of income on the side?
Write and Sell eBooks
Do you enjoy writing as a hobby? There’s a great opportunity for you to make a passive income through writing and selling eBooks. You could write eBooks on niches and topics that pique your interest such as gardening, cooking, or lifestyle tips. Choose something that you’ll enjoy writing about, it’ll make all the difference.
We’re fortunate to live in an era where you can self-publish books all on your own at an affordable price. You can self-publish your books on Amazon. eBooks are a great source of passive income, as you don’t need to pay for materials to produce hardcover books. All the money you make from sales is pure profit.
Property is an extremely lucrative source of passive income. However, you need money to make money. If you have enough startup capital to invest in property, it’s a great idea to do so.
You can rent out property and earn a steady monthly income from it without having to lift a finger. You may even find that you make enough to quit your day job!
Sell Photography and Designs Online
Are you good at taking pictures? Do you have a passion for design? If so, you can find a way to sell these skills online. There are many platforms available out there where you can trade your photography and designs for money. These are just a few examples you can look into:
- Etsy. This is a site you can use to sell your designs, including handmade goods and vintage designs.
- Shutterstock. On Shutterstock, you can sell your photography images, videos, and even music.
- Design cuts. If you’re a professional designer, you can make a decent amount of money selling your designs through design cuts.
Start a Blog
Creating a blog is a great way to make money, as it doesn’t require a huge amount of start-up cash. You can make money through a blog in many ways, but it does take time and effort to create a blog that generates money.
Being An Affiliate Marketer
One way to make money through a blog is by becoming an affiliate marketer. An affiliate marketer is someone who sells a product or service through a customized link from their affiliate partner. Each time a customer purchases a service or item via this affiliate marketer, they earn a commission.
A blog is a great platform to use when practicing affiliate marketing, as you can reach a larger target audience through your blog posts, and therefore earn more commission. Learning how to practice affiliate marketing is so important, so you can maximize your commission.
There are so many different opportunities out there for you to capitalize on, even ones that require little to no startup money. These are just four ideas you can look into to get you started on generating passive income. Once you pursue other passive income ideas, you’ll find that there’s something for everyone.
Are you a pessimist and don't believe in all the hoopla of passive income streams? Check Out: Is Passive Income A False Concept?