Learn to Earn: 10 Ways You Could Be Earning Passive Income

Do you want to make money while you sleep by earning passive income? Read on for 10 great ways to earn a passive income.

There are 4.2 billion people online right now. That massive digital population has made it so budding entrepreneurs like you can make millions of dollars each year in your sleep!

Sound too good to be true? We promise you that it’s not.

Making money while doing nothing describes the process of “earning passive income.”

That’s when you build something that requires a lot of work up front that has the potential to pay you royalties for a long time afterward (maybe even forever) without needing to put in any more effort.

There are a ton of ways you could start earning passive income right now. Below our team shares 10 of our favorite ways.

1. Invest in Index Finds That Produce Dividends

Everybody knows that investing in the stock market can make you money. Investing in stocks can also be a pain though. Websites like Stock Dork (which you can click here to learn more about) make things easier. But still, all of the vetting that’s required to make a good investment puts stocks out the reach of the average person.

That is of course unless you invest in index funds.

Index funds are pre-diversified stocks that automatically spread your invested money out across multiple, quality companies. If those companies produce dividends (cash payments to investors) you could be earning dividend cash from top performing companies almost immediately!

2. Lending Money

What if you could be like a bank and collect interest by lending money to people who don’t want to deal with banks or can’t get approved by them?

Thanks to awesome companies like Upstart, you can.

Just set up an account, pick an amount of money you want to lend, and borrowers will take you up on your offer and pay you back your money plus interest!

3. Affiliate Marketing

You could be making tens of thousands of dollars promoting other people’s products online! This is called affiliate marketing. If you get a good infrastructure in place, this is one of the best earning passive income avenues you can go down.

To get going with affiliate marketing, try setting up an account on Amazon Associates and start promoting Amazon products through social media. If your promotion leads to a sale, you’ll get a commission!

4. Sell Stock Photos

Have a knack for photography? If you do, you can sell your awesome photos to websites like Shutterstock or Fotolia.

When you do, you’ll get royalties for every photo you sell.

If you publish a ton of photos and they’re of excellent quality, you could make a full time living as a photographer!

5. Make YouTube Videos

A billion hours of video get watched on YouTube every day. That massive rate of content consumption is why so many people get rich on the platform.

YouTube has a program in place called “revenue sharing” where content creators let the platform run ads before, during, and after their videos. Any revenue generated from those ads is then split between YouTube and creators.

To start making money on YouTube now, build up your channel’s library with quality content. The more stuff you post, the more chances you’ll have of earning passive income.

6. Write a Book

Everybody has a book in them! If you share yours, it could mean cashing royalty checks for the rest of your life.

Books don’t have to be biographical or fiction to sell big. If you’re good at something like online marketing or playing the piano you could publish a small, digital-only book (eBook) that retails for just a few dollars.

Even something simple and affordable like that could mean steady income for years to come!

7. Rent Your Car

A lot of people buy nice cars that just sit in their driveway day in and day out. Wouldn’t it be great if that car could be earning you money when it’s not working for you?

New apps like Turo make that dream a reality!

Simply list your car on the app, make sure you have proper insurance requirements in place and people can start picking up your car during its downtime, which will net you some serious cash.

8. Use Cash Back Credit Cards

When you pay for your purchases in cash, all you get is what you bought. Boring.

When you pay for your purchases with cash back credit cards, you get what you bought plus anywhere from 1% to 20% cash back! Exciting!

There are a number of cash back credit cards out there that pay consumers big money. A quick Google search of “best rewards credit cards” should find you some excellent options.

9. Invest in Real Estate

If you have money to spend, you could buy properties and rent them out through an agency to score some sizeable passive income. If you don’t have the kind of money to buy up property, try investing in real estate through apps like Fundrise.

Fundrise lets you pool your money with other investors and jointly own and rent properties to corporations!

This process can net you massive returns on your relatively small investment.

10. Buy or Build a Blog

Last but not least on our earning passive income list of suggestions is buying or building a blog.

If you have a blog that gets solid traffic, you can make money off of that traffic by selling products, pushing affiliate links, and more! The only trouble is that building your own blog can take a lot of time and patience.

If you want instant gratification, consider contacting a blog that already has good readership and asking to buy it!

While that will cost you some cash up front, the amount you could get back in monthly income may far exceed your purchase price.

Wrapping Up Ways You Could Be Earning Passive Income

From building a blog to investing in index funds, there is no shortage of awesome ways to start earning passive income.

Try your hand at your favorite methods above and start making serious money today!

For more awesome content on earning and investing, check out more of our content at ONMoneyMaking now.