Most financial experts advise people to invest some time and money into something that would provide passive income. When you say passive income, this is money that you earn even when you’re not actively involved.
For those who are working regular jobs or are staying home to take care of their family, passive income is beneficial in providing additional revenue that allows you to pay your bills on time, enjoy more things in life, and save for your retirement. Here are a few ways you can earn passive income:
Write an e-Book
A lot of people are now into self-publishing, which is writing your own e-book and uploading it on a platform like Amazon.com or Lulu.com and getting a profit every time someone buys a copy of your e-book. This is a great way to earn passive income if you are an expert at something and wish to share your knowledge. Creative writers can also write fiction novels and poems. What’s great about these platforms is, they make it very easy for people to publish their work online. If you are considering this option, you need to keep in mind that in order for your e-book to get noticed and start selling, you will need promote it first. Luckily, you can promote your e-book on social media like Facebook or Twitter at practically no cost at all.
Build an Online Course
This is another great income opportunity for industry experts and entrepreneurs who wish to share their skills and knowledge to a greater audience. Online education has become a popular alternative to traditional classroom training, and there are a lot of learning management systems that allow people easily build online courses and teach online even when they have no technical background on web development. You don’t even have to worry about having to learn technical skills because online platforms that allow you to sell your online courses have their own IT support teams to take care of any technical issues users might experience.
Sell Photos Online
If you own a DSLR and love to take photos on practically anything, you can actually earn good money from selling your photos online. You don’t have to be a professional photographer as long as you know how to take great pictures of nature, animals, people, and everyday things like coffee, smartphones, laptops, shoes, and books. You can go to sites that sell images online, such as Shutterstock and iStockphoto, offer your photos on there, and earn every time someone purchases your photos. Different sites offer different types of commissions, so it would be a good idea to do some research and go for the one that will give you the most amount of income per photo sold.
If you want to start earning passive income and enjoy having a little more money month after month, you might want to consider starting any one of these. A lot of people have benefitted from writing and selling their e-book, building an online course, selling their photos online, and there are several other means of earning passive income and you can, too!
Michelle Gonzalez has been writing for SMEs across the United States, Canada, Australia and the UK for the last five years. She is a highly-experienced blogger and SEO copywriter, writing business blogs for various industries such as marketing, law, health and wellness, beauty, and education, particularly on e-learning platforms such as www.teachable.com.