What is passive money?
According to Wikipedia, “Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.”
Passive money flows automatically without putting regular efforts. It is like setting up something for once and keep getting benefits for rest of the time. Rent is a good example of fixed passive income.
In the online world, it is easy but tricky to generate passive income regularly. Making money online is possible and below are few ways to make passive money online:
Blogging is, in simple words, writing and posting articles on a website. Keeping and maintaining a blog is a must. But once it become popular, it keeps on generating passive online income. Affiliate marketing is another big way of generating income from your blog.
Selling the products is an ultimate goal of most online businesses. If the product is sold because of your recommendation, the seller would happily pay you some reward. It could be in terms of money or other stuff like shopping vouchers and tour packages. Usually it the the seller would provide you a link and monitor the sales made from your link. One way is to post this link on your website or blog and wait for visitors to purchase the product from clicking your link.
Like blogging, vlogging is also a good way to generate passive online income. Vlog is a short form of video blog. Usually you tube and similar video services are used for vlogging. You simply create a video of interesting stuff people would like to watch and post it on you tube. When it gets good number of views and likes you would slowly start getting money.
The idea is to make an online store to sell some products. These products could be anything which you think people would buy. Most of the times the products are simple and rare that might be available physically in one geography but not in others. So you can sell them in other areas using an online e commerce website. Shipping the products could be tricky and hard but you can either take courier services or simply outsource it to someone else.
By, Dushyant Tyagi at Dec 15, 2020
Tell someone you are a freelancer, first question you will have to answer is how much do you make? As an individual experienced freelancer, you can make up to $15000(INR 10 lakhs) monthly. If you are...