Many ways to start a passive income today!
Always, always start with ZERO money. You won’t regret it!
I never loved the idea of working 9–5 and receiving money at the end of the month. Well, I used to receive it on the 5th date of every month.
Website Idea: JV Codes
Although I know many out there still love their 9–5 job — no problem with that. My cousin enjoys 9–5 more than his YouTube channel.
It’s always our choice. No pressure. Nothing.
But in this article, I explore various ways you can create an online passive income stream (with your day job or without it).
I won’t say it’s a concrete step because I have changed or I can say improved it with time. But I always recommend starting with small baby steps. That pays off in the long run.
My Last 9–5 job was a disastrous
I have talked about my last 9–5 job.
Last?
Yes, I have changed my jobs almost 4 times.
My last one was the worst of all.
The first ones are always the best!
I had a heated argument with my boss. I won’t go into detail here. Because of that, I have to go into the story of his girlfriend (who was made the CEO of his company.. yeah needed no hard work for that! I know!)
There are some things I realized that made me go into my writing business full-time. I just wanted to say goodbye to my 9–5 once and for all. No looking back!
I was made to sit for 4 hours in the reception area to receive my monthly income.
After 4 hours, my boss told me he would transfer me my payment only when he LIKED to. Maybe the next day or next week.
This made me angry. I couldn’t forget the day when I was made to sit for so many hours just to receive my income. I wasn’t much experienced at that time.
Before this, every boss I got was nice. My first boss was a female married with one kid. She was the best of all!
Passive income provided me freedom
I love working online.
I love working alone.
I have multiple businesses. All I do myself!
The best part?
If one goes down, I have more to take care of me.
Not only me but my family as well.
For me, creating and building businesses from scratch has been my earliest dream. And these are a few reasons why you should work on it as well.
- No boss above me
- If I don’t like the work… I’ll close it or better.. leave it. This I did with my YouTube channel and now I am back with a new niche.
Passive income workflow
You need to understand this. Not all passive income will work for you. But there will be few that will align with your interests and skills.
Here are a few things you can do to find your next passive income source —
- Write down your interest list. For example — whenever I build a passive income it always surrounds writing, digital products, creativity, finance, etc. I never get involved in the relationship niche, health niche, and so on.
- Write down your skills. For example — for me, it’s creative writing.
- Find a platform that you love to spend time on. For example — I will go with a blogging platform like Medium. If you are interested in growing on Medium then do check this out.
- Pick a name (keep your original name if possible), a clean logo, and a simple one-line bio.
- Create original content only. AI is good for research but not for creating content.
Passive Income Ideas to Make Money & Build Wealth in 2024
I will list here some that you can start with no extra money at all!
- Content creation — I’ll keep this at the top of my list because the majority of my earnings is just because of my content creation skills and nothing else. No marketing. No DMs. No luck. Just with one skill you can drive a massive amount of income from different income sources!
- E-commerce — I have only one music store on Instagram. I started my store when I got bored with my writing business. I haven’t made money as I make through my ebooks but still… small income counts!
- Digital products — I love creating digital products. I am into ebooks and Google Sheets. One such sheet you can find here — Ultimate Budget Tracker.
- Create video courses for Udemy — If you have a skill to share then try making a small video course on it. It’s really easy and doesn’t take much longer. The sales are much more compared to ebooks!
- Rent out your spare room — This one is just like AirBnb. If you have a small space then do try out renting it. Why to leave so much money on the table?
- Do blogging — If you can write in simple English language then you can do blogging as well. No skill is required.
- Design custom products — I do this on my Instagram store. Its little bit tough but still worth it. I use sometimes Canva or Photoshop for that.
- Advertising on your car — If you have a car and looking for some extra income then why don’t you try advertising? It doesn’t take much money and you’ll make a lot in return!
- Video content creation — Everyone wants to start YouTube. But fewer people have time for that. This is the reason why AI is becoming popular. If you can create good quality videos then try to sell your services through Fiverr. I am sure there will be an audience who are ready to buy videos from you!
- Sell stock photos — I think I made only $9. I have only a few illustrations on Adobe stock. Not my side hustle but something I wanted to try. See if you can make money selling photos or videos on it or not. If you love clicking photos then I am sure you must have many that others might need them!
- Get a roommate — In case you can do it. If you don’t have a spare room then simply get a roommate. My London uncle does this. It’s really profitable. Will use the money to pay for his children’s degree!
- Rent out a parking space — If you have a space in a crowded area then try giving them for parking.
Conclusion
You won’t be able to do all!
I won’t advise that other!
Pick the one of your choice. See which one suits your needs!
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