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Begin a YouTube channel.
Although the YouTube space is aggressive, theres little overhead cost to get started. If youre passionate about your chosen niche and provide value to your viewers, ad placements and sponsorship opportunities can help you earn a substantial passive income.License your own photos. In case you have a natural eye for photography, consider selling your photos to stock photography websites. Once approved, youll earn royalties whenever a customer downloads one of your photos.
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Design t-shirts or other products. Create fun and trendy images for e-commerce websites like Zazzle or even CafePress to put on all sorts of merchandise from t-shirts to mugs. Production is taken care of and youll earn a commission on the products sold.
Create website templates. If you fancy yourself an HTML wiz, designing and offering website templates for bloggers or e-commerce websites might be a great source of passive income for you.
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Sell graphic design files. Even amateur graphic designers can earn a passive income by designing and selling graphic design documents such as icons or templates of all kinds.
Publish an ebook. Have you got a story youre itching to inform Writers no longer need to wait for the attention of a publisher to release their work. If you advertise your book well (think social media), self-publishing an ebook will earn you plenty of residual sales.
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License music. For the musically inclined, licensing music, especially instrumental tracks, can generate a decent passive income and assist companies or video founders looking for high-quality sound.
Sell digital art files. To reduce overhead costs and minimize supply chain logistics, design a piece of artwork or photography and extend a digital download for a lesser cost. Many men and women are looking to furnish their homes on a budget and could happily print the artwork themselves.
Create an eCourse. An eCourse can be about anything youre passionate about. Have a great deal of knowledge about digital marketing Produce an eCourse! Are you an expert in the subject of bird watching Produce an eCourse! Whatever you love, theres an audience out there.
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Record a video program. Similar to e-courses, you will find endless options for video course topics. Video as a medium offers a personal connection and also a different way to learn, making it look these up an equally viable option.
Sell a lesson plan. If youre a teacher you can create a passive income by simply selling your lesson plans online to other teachers. Its something youre doing , so why not talk about the knowledge
Create an online guide. If youre an expert in your field or have in-depth knowledge of how something works or how to fix something, you can write a manual for this.
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Sign up for cash back credit cards. Many credit cards offer you some sort of cash back benefits, but finding one that offers the most rewards for your lifestyle is the key to maximizing your return.
Advertise on your car. Some companies will pay money for ad space on your car. All you have to do is drive aroundwhich youre probably doing anyway!
Participate in research studies. Get paid to let researchers monitor anything out of the shopping habits to you sleeping patterns. If youre comfortable sharing this information, it can be a terrific source of passive income that requires little to no effort.
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Rent a room in your home. If you already have an extra room in your home, rent it out. You can earn additional money with only some simple hospitality.
Shop with money back sites. Shopping through sites that offer cash back benefits can be as powerful as couponing, if not more! Simply shop as you normally would and earn rebates on your purchases.
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Rent your stuff. Have you got random equipment filling your garage that you seldom use Rent it out! Specialized equipment for lawn maintenance or home improvement jobs is often a one-time use for most people. Youll earn some money and other people will have the ability to use your resources for a fraction of the cost of buying them . .
Launching a negative business or figuring out how to invest your money when youre strapped for time isnt easy, but the payoff makes everything worthwhile. The money you earn from passive income will undoubtedly have you well on your way to achieving your financial objectives and much closer to true financial freedom.
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Sources:Â Reit.com Investopedia Dividend.com Well Kept Wallet Money Done Right The College Investor
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