It’s almost impossible to afford a decent lifestyle with a single income source these days. Thus, more and more people are looking for passive income options. Passive income helps you earn additional money that you can use to increase your savings, make investments, or spend on things that you wouldn’t otherwise.
The good news is that there are hundreds of ways you can earn a decent passive income with no money whatsoever, to begin with. Sounds impossible, right? But, yeah, you sure can.
This blog discusses ten such passive income ideas that require no initial investment from your end.
1. Blog Writing
If you have good research skills, a flair for writing, and command over language(s), you can start working as a blog writer. There are multiple ways to earn as a blog writer. For example, you can start your own blogging website and earn from selling ad space. Alternatively, you can work as a freelance blog writer for clients across the world.
You can choose to focus on a specific niche, such as beauty or technology, or write on multiple topics, based on your choices.
If you are looking for freelance blog writing opportunities, you can check out platforms like Fiverr and Upwork. You’ll surely find work and earn a decent passive income.
2. Digital Marketing
You can broaden your scope and provide full digital marketing services to businesses and individuals. Digital marketing includes social media marketing, blog writing, website SEO optimization, pay-per-click (PPC) ads, and email marketing, to name a few.
Providing entire digital marketing services will help you earn a handsome amount even if you have a single client. However, you might need to invest more time and effort as digital marketing covers a broad spectrum.
If you feel you can’t commit to providing full-fledged digital marketing services, you can focus on a specific niche, such as social media marketing or email marketing.
3. YouTube Channel
If you aren’t camera conscious (unlike me) and would like to earn by making video content, then you can start your own YouTube channel. You can dedicate your channel to a specific topic such as technology, tutorials, how-to, or vlogging.
You will need to have exemplary ideation, content creation, and video editing skills to attract audiences and grow your YouTube channel.
You will have first to meet certain requirements to be eligible to monetize your YouTube channel. You can then sell ad spaces before, during, and after video playback to earn money.
Do note that YouTube will keep a certain portion of your earnings from ads displayed on your channel as commission.
4. Tutoring
If you have a knack for imparting knowledge, then you can consider becoming a part-time tutor. You can provide online or offline tutoring, or both, based on your preferences.
You can teach students right from kindergarten to high school to college. You will be required to have the required knowledge and expertise in the subject(s) you wish to teach.
Depending upon the hours you teach and the number of students, you can earn a decent to a high income from tutoring. In addition to tutoring, you can earn additional income by creating specialized courses, selling study materials, writing books, and selling tutoring resources.
5. Software Development
If you have knowledge about programming languages, then you can choose to offer software development services to earn passive income. You can easily earn from $500 to $50,000 and more a month with software development.
There are various ways you can use your software development skills to earn money. Some include:
- Selling software to a business for a one-time fee
- Selling ad space within your software’s interface
- Creating a monthly or yearly subscription-based model for users
- Working on a software development project as per the client’s requirements
You can choose to develop mobile or desktop apps and choose to work independently or for a client, as per your choices.
6. Renting Your Stuff
You can rent anything that you can think of to earn a decent passive income each month. For example, you can rent out your property on Airbnb to earn a decent amount.
Similarly, you can rent your car to others via platforms such as Turo. If you have extra storage space in your home, you can rent it out on platforms like Neighbor. If you have additional parking space, you can rent it using JustPark.
In short, the possibilities of earning a good passive income by renting your stuff are endless. You only need to figure out what you can rent.
7. Selling Digital Assets
There are a number of opportunities for creating and selling digital assets to earn a handsome passive income. Depending upon your expertise, you can sell assets like NFTs, graphics, photos, and videos, to name a few.
If you are interested in graphics, you can sell artworks, invitations, patterns, and others on Etsy. Similarly, if you have good photography skills, you can list your photos on sites like Shutterstock and earn from user downloads.
Digital assets are in huge demand nowadays. Thus, you should definitely consider selling digital assets to have a good passive income.
8. Using Passive Income Apps
There are various apps that provide money to users for carrying out certain tasks. These include answering surveys, testing apps, sharing user data, providing feedback, and more.
This is one of the easiest methods of earning passive income. However, it should be noted that the payouts offered by them are very low compared to other methods mentioned in the blog.
You can earn anywhere from $0.10 to $ 10 per task based on various factors. Thus, you might need to install multiple apps and participate in numerous projects to earn a decent amount from this method.
Conclusion
These were our top ten passive income ideas with no money. We hope that you will choose one of the ideas mentioned in the blog to start earning a decent amount every month.
However, you need to remember that it will take time and effort. You need to have focus, determination, strategy, and patience to see results. We will you the best in your endeavors.