Whether you want to admit it or not, most people have a burning desire to make cash. This isn’t out of greed in most cases, it’s simply because money is required for life, and if we want to do fantastic things, we need the cash on hand. Of course, with the worldwide economy having seen better days, having spare cash is usually a luxury and not something which comes easily.
What if I was to tell you that there are ways to make money, without actually putting in much regular effort?
Before you get excited, the effort level isn’t zero, but it’s minimal compared to your regular job. This is called passive income, and it’s something that more and more people are learning about.
Passive income is a way of making money which doesn’t require a lot of effort beyond the setup point, e.g. it doesn’t require you to go to work 9-5, however many days a week. You set it up, you tend to its maintenance level occasionally and it drips into your bank account like a very welcome water leak.
A few common passive income methods include:
- Dabbling in the stock market
- Writing an ebook and watching the royalties roll in
- Writing a song, a movie, a play, or anything else which require royalties to be paid to you
- Renting out a property you own
- Affiliate marketing through blogging
- Having a high interest savings account
- Writing and selling a course online
- Dropshipping via an online store
- Create an app
These are all ways you can make cash without really putting in much effort after the starting point, and these can be done alongside your regular job, giving you spare cash to play with.
You might be reading those methods and thinking that none of them fit your skill set, but why not learn? Dropshipping might take some setting up, but once you know what it is and how to do it, you could very well be raking in the cash, to put to some very good use indeed! The same can be said for using affiliate marketing methods; if you already have a blog or a vlog, adding this will bring you extra cash. If you own a property, why not rent out a spare room? If you’re open to the idea, you could meet a new friend for life and be paid for it in the process!
Most people dream of writing a book, but getting published is extremely difficult – not when you self-publish! Write the book you’ve always wanted to write, self-publish it, market it a little and then watch the royalties roll in on a regular basis. If you’re creative in any way, you can easily make a little money here and there through creating a piece of art, a song, a poem, even photography, and selling it for royalties. You might not become a millionaire, but people have made very good livings from royalties in the past!
One item on that list which is a little risky is, of course, dabbling in the stock market. If you’re going to opt for this, or if you’re thinking about working with cryptocurrency, make sure that you start small and work your way up. Learn the basics, do your research, and don’t be blinkered to the fact that you could lose everything with a wrong move. Taking your time is vital, but the sky could be the limit!
In these difficult economic times, passive income is a shining beacon of hope for anyone who has aspirations to do great things, be it buy a house, go travelling, buy a car, or save up or something else entirely. Perhaps it’s something you should start looking into?