When the pandemic began, and everyone was sent home, most of us had to be imaginative on how to earn extra income. Whether you really need a source of income or you are just looking to pass your time while still earning, you had one or two income ideas popped on the top of your head. And with quarantine restrictions limiting our movement outside our houses, most of these are passive income ideas.
What is Passive Income?
Passive income is the kind of income you earn without exerting much effort continuously. Unlike going to work every day and actively doing something to earn money, passive income involves endeavors that require you to do the work mostly in the beginning or as you are establishing the business. It is a source of income that keeps on giving after you get it going, without doing as much work as you normally would. These income ideas are perfect for this season, especially if you are a homebody because you can easily earn passive income online. With a laptop, your income ideas, and a reliable internet connection, you can start saving and filling up your pockets.
10 Passive Income Ideas You Can Start at Home
1. Be a Silent Partner
A good passive income source is to be a silent partner. Partnerships are often formed by two or more people in order to fulfill mutual interests. They establish their own business enterprise by pooling their resources. Now, a silent partner is someone whose contribution to the partnership is capital. As a silent partner, you just have to give an agreed-upon amount of money that the business will use as capital. You are investing your money for the startup of the business and then wait as the business grows and grows. Depending on the agreement between you and your partners, you can receive stock in your company and/or a share in the revenue of the business. This is a good source of income, especially if the business does good in the long haul. You just have to contribute, then sit back and wait for your passive income to be distributed to you.
2. Rent Out Your Property
Do you have a property that is currently empty and vacant? Well, what a perfect opportunity to fulfill yet another one of your income ideas. As one owner of multiple properties, you can make better use of your unused properties by using them as a source of income. Rent it out to people who are interested and in need of it. As if you are a real estate agent of some sort, for a reasonable amount of fee, your passive income in this kind of transaction can be sustained for months or even years to come. And you don’t even have to do much anymore, just collect the passive income for every end of the agreed-upon timeframe.
3. Invest in the Stock Market
Your savings and/or extra money don’t always have to go to banks and the likes. Famous in the passive income ideas field is the investing of your money in the stock market. The stock market will keep on moving and going no matter what the state of our economy is. And with even the little bit of money to invest and the reasonable and smart decision of where to invest it, you can earn a passive income that can be twice or thrice the money you first invested. Just by checking and monitoring the market every once in a while, or maybe even hiring someone to do it for you, you can allow your money to grow bigger than it ever will if deposited in banks. Investing in the stock market is a good passive income idea to help you get rich without even doing much of anything.
4. Be an Online Teacher
With most schools, universities, and tutoring centers closed, you can take advantage and seize the opportunity to share what you know and earn passive income online. There are a lot of ways that you can offer your tutorial and teaching services. Plenty of professor websites are popping up online in an attempt to reach more students, and you can be one of them too.
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5. Be a Social Media Influencer
Social media is a continuously moving and growing world. Nowadays, if you have a following of over a thousand, you can be considered to be a social media influencer. Instagram users who have a huge following, likes, and comment count are now getting paid to promote products and services of different brands and companies. As if instant ambassadors, with every Instagram story or Instagram post, they earn. And as your account grows more popular, your offers and fees also get higher.
6. Blog Your Heart Out
With your laptop and your knowledge or imagination, you can create a website of your own and start your own simple blog. It may not look like much but this is another one of the sure-fire passive income ideas you can bring to life. By signing up with a website builder like Strikingly, you can have your blog where you can post and edit what you've written. You can easily make money with blogging. With an interesting and relevant blog, your passive income from blogging can significantly increase. You can even add Google AdSense to your blog and earn even more passive income.
Image taken from Strikingly Product
7. Open a Print-on-Demand Store
A print-on-demand store is an online store that allows customers to order what they want. These products are usually customized or personalized so you collect the orders first, create them, and then deliver. This is one of the good income ideas that you can fulfill right at home. With a good website, this can be a good and consistent source of income. Remember that good product and good customer service lead to good reviews and thus, more customers. Even with the simplest products, your passive income from this can exponentially increase.
8. Sell Your Artworks and Photos
Are you a professional artist or just someone who likes to create art? Well, that is another good one of the passive income ideas we can think of. As a photographer or a professional artist waiting on gigs and projects, why not put your talent to good use and connect with websites online, like Unsplash, that buy high-quality and beautiful stock images from talented artists like you? By selling your photos and artworks, you are now earning passive income online. In addition to that, you can also create your photography website or make an online portfolio to display your wonderful masterpieces. Herein, you can connect your contact details and help your brand and image grow to attract more clients.
Image taken from Strikingly Product
9. Be a Youtuber
Towards the end of our list of passive income ideas, we encourage you to be a Youtube Creator. When you become a Youtube Creator, all you need is a video camera, which can be just your phone, a laptop, a good internet connection, and your interesting personality and wit. With funny and exciting content, you can earn a significant number of subscribers. After you establish a big following count, you can get paid for every video you produce and post. Your videos don’t even need to be entirely extravagant. It just has to be relevant and entertaining for you to get the subscribers you need to start earning your passive income. You just have to be smart in how you will promote yourself, whether that’s through other social media sites or even through your very own website.
10. Take Part in Affiliate and Reseller Programs
Affiliate marketing and reseller programs are good passive income ideas because you need not do all the heavy lifting. In affiliate marketing, by simply displaying a banner on your site or attaching a link on your website that leads to your affiliate, you can earn commissions. Reseller programs allow you to purchase products directly from the source, usually at a discount, and sell the products as if they were your own. Strikingly has both these programs available to be your source of income. Strikingly Affiliate Program can help you earn up to $600 just by advertising for their site. You don’t even need to be a Pro user to earn commissions from this program.
Image taken from Strikingly Product
On the other hand, Strikingly Website Reseller Program requires you to buy and sell 20 sites all bought with competitive bulk pricing. You can either take full control of all your clients’ sites but you can also allow them some control through a white-label solution. They also offer you product and sales training to help you be more successful in this field.
Image taken from Strikingly Product
You know the old saying, “Don’t just work hard, work smart”? Well, with these passive income ideas, you can do just that! With a little help from the internet and website builders like Strikingly, you can build your websites and accomplish any one of these ideas right at home. Sign up with Strikingly and get started on producing passive income from one or more of these income ideas.
