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9 Proven Passive Income Ideas To Make More Money This Year

In this article I give you 9 proven passive income ideas that will help you make more money this year.

Passive income is a great way to help you generate extra income-especially during this “unstable” period we’re living in.

With the pandemic, digitalization and wars threatening the income of every single one of us, creating multiple sources of income is imperative.

It will help you become more financially independent and will bridge the gap in your finances if suddenly one good day the boss in the office calls you in its office (certainly not for a raise).

In this article I’ll explain — briefly — 9 ideas for passive income that you can start -some of them — even right after reading this article.

Before I move on to the ideas of passive income, I think it is appropriate to clarify what this term means. Many people confuse the term passive income in their minds. They think that passive income means money from nowhere.

This is completely wrong.

Passive income is when you build something that can make you money even when you are not there or with little to no work.

But you have to build that something first and then it produces passive income. Usually to build that something, it takes effort and sometimes money.

Now that we have clarified what passive income is, let’s move on to the ideas for passive income.

Investing in rental properties is an effective way to start earning passive income. However, this method requires more work than most people expect.

First, capital must be available. You don’t have to allocate the full amount of the property. If you take out a loan, you will have to put at least 20% — 30% up front — according to your banking institutes rules.

So if you found a one bedroom property at a bargain price of let say 60 thousand dollars, you have to have at least 18 thousand to your bank account to be used as down payment.

Secondly you have to do a huge amount of research to find property opportunities to buy and that will produce a profit. That means searching on your own, dealing with estate agents, doing phone calls, negotiating prices and so on.

For example, if your goal is to earn 5,000 dollars a year in rental income, and the instalment you pay to the bank is 150 dollars a month and 50 dollars in monthly expenses and taxes, then to reach your goal you would have to rent a property at around 600 dollars a month.

Of course in the days of the internet the task is made slightly easier as you can visit websites that have properties on the internet and do your research there.

This is a profitable method that allows you to start with low capital but you still need to spend a lot of time to learn it well.

Basically, you buy cheap products from offline stores that position themselves in the market as having cheap products and resell them at a higher price on online platforms such as Amazon and eBay.

You will arbitrage the difference in buying and selling prices and you may be able to build a following of people who follow your offers.

For example, this pillow from a local store in my country, cost’s just 3 euros. I can easily re-sell it for 15–20 dollars on eBay or Amazon, Facebook Marketplace or any other high trafficked ecommerce platform.

Now imagine doing this on scale.

You might be asking, how you can make it passive? Easy..

Hire someone to list these products on your behalf. You’ll still have to make the research and buy the products though..

After a product is sold, just ship the product or train your employee to do it for you.

The process is simple:

One needs a microloan — say €1000. For some reason he can’t get it from the bank.

Once approved, his loan will be funded by thousands of investors around the world who can invest as little as €10.

The investor’s return starts at 11% — 14% per year, which is a very high return. In short, if you invest $1000 in microloans, at the end of the year you will have $1110 — $1140 in your account

Of course, to be able to earn a passive income of let’s say, $200 per month, it means that you need to have around $20K $25K invested in microloans. I know it’s a lot, but not impossible. Personally, I’m willing to make it work.

Sounds just fine to me.

Do you travel a lot? Are you obsessed with cryptocurrencies? Do you have a chicken coop in your backyard? Do you like to cook? Do you love gaming?

Whatever your passion, take it, and start a blog, YouTube channel or Instagram page around it. The reasons are many and not just income.

The ways to earn passive income from a blog are many.

There are many other ways to make money with a blog, but the “passive” ones are affiliate marketing and displaying ads from ad networks such as Mediavine, Google Adsense, etc.

Also, starting your own blog today is a piece of cake.

Now, for this method to evolve into a passive income, you have to sweat… you have to sweat a lot.

After that money starts pouring in

Below is a screenshot of my Clickbank account. The commissions you see come from articles I write on my other websites. Some of these articles are 2–3 years old and still generate me income. Passive income.

If you are going to start a blog, you’ll need to “pump” huge amounts of SEO Optimized content to attract traffic to your website. The more traffic you attract the more money you’ll make from ads and affiliate sales.

Did you know that you can rent your stuff to people who have a need for them but aren’t willing to buy them?

You get the idea..

You may wonder, why don’t they just buy the product instead of renting it.

Simple..

They don’t have the space needed to store the item they need. Or, why buy a $1000 tool when I am going to use it just once.. Or once per year.. It makes sense to just rent it and have peace of mind.

Anyway, renting stuff is a great way to make extra money, passively and with no upfront capital.

To get as much customers as possible, get out there and spread the word any way you can. Posters, online ad platforms, ad newspapers, tell all your friends, family acquaintances, make a Facebook page, post it in Facebook groups or online forums.

A popular method of passive income is the creation of digital products such as e-books, online courses, music, videos, photos, graphics, etc.

Let me explain in more detail:

Affiliate marketing is a method of promoting third party products — usually through the internet. As I showed you with my Clickbank screenshot, you can make money simply by promoting a product that someone else has created.

Of course, affiliate marketing is not only done through websites. It can be done by other methods as well:

Also, Instagram and TikTok are huge platforms for those looking to develop followers and promote products.

Buy, hey.. Wait a minute… Where’s the passive income — you might be wondering.

The trick here is to promote products that offer recurring income. For example, let’s say you are going to promote a subscription based program that costs $50 per month and you get 30% commission ($15).

If you make 5 sales the first month, you’ll earn $75.

If you make another 5 sales the second month you’ll earn $75 + $75 from the previous months’ sales.

The third month, the same.. This way, you built passive income — as long as the buyer stays a customer to the platform from just the sales you referred once.

I’m sure it sounds strange to you. How can someone share their Internet and earn money?

For this service, you get paid for doing absolutely nothing and without any risk.

You just download the app to your mobile and your personal calculator (and your tablet if you want) and let them run in the background, without consuming any data or making your device any slower.

You can use the money you earn to pay for a subscription, your phone or anything else.

You can increase your revenue by referring friends and acquaintances through the affiliate program and start earning an extra 10% on your referral revenue, for life, without any cost on the part of your friend.

Another 100% passive way of generating income is the so-called “staking” in the cryptocurrency world.

Midas is an investment platform that generates high compounding returns for its clients by investing in various decentralized finance strategies.

It is managed by a team of financial experts who according to their website “has over 20 years of investment experience and 30 years in product development”.

With Midas, you can earn high returns from around 25 cryptocurrencies, including Bitcoin, Ethereum, ATOM and many other.

IMPORTANT: With any type of investment you may lose your initial capital. For example, if you buy rental property and next day an earthquake happens and crumbles the building, you lost money. If you invest in Midas and next day the internet shuts down, you’ll probably lose your money as well.

So, there you have it. Nine passive income ideas that can help you build extra income streams.

So, what do you think? I’m sure there are many other ideas for passive income, which I may write about in another blog post.

From all the passive income ideas , which ones do you think you can start studying today?

By the way, here are some more money making articles that you might be interested in:

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