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7 Passive Income Ideas
Have you ever wished you had a little more income? I know last year, the majority of people wished they had a passive income.
So what exactly is passive income?
In a nutshell, it’s a project or product where you put in the time upfront and then later it brings in money without you actively participating day in and out. You can literally make money while you sleep. Who doesn’t want that?
Below I am sharing the many ways that you can make extra income in 2021. These are beginner passive income ideas.
Some ideas take more time than others so please be mindful of that. You also get out what you put in. That goes for anything you pursue.
1. Affiliate Marketing
Affiliate marketing is a fun way to make passive income. The best part, you don’t have to have a website!
What is affiliate marketing?
Affiliate marketing is when you partner with a business, you promote their product and if that product is purchased by consumers using your link, you get a percentage of the sales with no extra cost to the consumer.
How do you start affiliate marketing as a beginner?
Small businesses or brands also have affiliate programs. For example, if you’ve taken an online course that changed your life, see if that person has an affiliate program so when you share their product you get a small commission.
Once, you’ve joined a program, find the business you would like to partner with and promote. Then you can start creating content that promotes, drives traffic to, and converts into sales.
You might be thinking, “Where do I share this content?” The great news is you can share it on Pinterest, Instagram, or a blog. If you don’t have a website, I highly suggest starting with Pinterest.
You can create beautiful pins on Canva, upload that pin to Pinterest and use your affiliate link so when people click on your pin, the sales go to you!
It is possible to make $1,000+ from affiliate marketing. But please note, that businesses and brands have different commission percentages. So just because Susie makes $500 a month doesn’t mean you will. It does take time.
2. Make money on Liketoknow.it
Do you love shopping, fashion, home decor, or beauty? Do you share all this on your social media? If you answered “yes” then Liketoknow.it is the affiliate program for you! It gives you access to thousands of businesses and brands.
What is Liketoknow.it?
It’s a shopping app for finding the products you love while looking at Instagram or Pinterest. You can upload your photos to the app and get affiliate links for the products so when people shop on the app and click on the products in your photo, you will receive a commission.
Anyone can shop the app but if you want to be a member, you will have to apply for the program. They typically look for people who consistently post on social media for 3+ months and share things that they love. I was accepted after 3 months and only 200 followers.
How do I join?
It is helpful to have a referral from someone in the program. So if you are thinking about joining, have questions, and are looking for a referral I can help you out! Just send me a DM on Instagram.
Blogging is a great way to make passive income, have a creative outlet, and grow a business. There are tons of people who make a full-time income with blogging.
The best part about blogging is that you choose how much time you want to put into it. You have control of your space and what kind of content goes on there. It’s the perfect at-home job and is flexible! Please note, it takes a lot of time and strategy to make money from blogging. So don’t go with this option if you don’t want to put in the work.
How can you make money from blogging?
You can make money from blogging by placing ads on your website, affiliate links, or selling your own product.
The amount of money you make from your blog depends on the amount of traffic/visitors you get. Again, it takes time but it is possible!
If you are interested in blogging and want to know how to start a blog, check out my post here.
Are you a graphic designer, editor, writer, social media marketer? If you answer yes to any of these or you have other skills that are helpful, consider freelance work!
What is Freelance?
A freelance job is when a company hires a person for their specific skill on a specific job. This is more of a side hustle than passive income but it’s too good of an income stream to not include it in this post.
For example, a brand hires a graphic designer to create a series of marketing materials for a campaign in the summer. The brand pays the graphic designer an hourly rate for the work they do. Once the campaign is complete the designer no longer works for that company. Makes sense?
As a freelancer, you have the power to choose what jobs you take on and the amount of time you put into your work. Some people make a full-time income doing freelance projects, others do a couple a month for an extra source of income.
5. Earn from surveys
Did you know that you can earn gift cards and/or PayPal cash from taking surveys or searching online?
There is a rewards website called Swagbucks that will pay you to do these things. I did this in college and earned Amazon gift cards and Starbucks gift cards.
Gift cards start from $3 and you can cash out every day or let your earnings accumulate. You can also shop through Swagbucks and earn cashback
6. Digital Products
You can create and sell digital products on your website, a landing page, Etsy, Creative Market, and more.
What is a digital product?
A digital product is a product that you can sell online that doesn’t have a physical form. For example, you create a piece of art on your iPad and sell it online as a PDF file. People can purchase that file, download it and print it off.
You can also sell presets if you are a photographer, journals, budget sheets, calendars, e-books, recipes, workouts, or online courses. There is SO much you can do with digital products.
The best part is that you create them one time!
Dropshipping is perfect for you if you want to sell physical products online.
What is Dropshipping?
Dropshipping gives you the freedom to sell products on your website and have another company ship them for you. This helps you save on inventory and time.
I hope you find this list of passive income ideas helpful.
If you have tried any of these or other sources comment below! I would love to hear about your success.