Four Ways to Make Passive Income
Multiple streams of income is an absolute must in 2018. I’m always trying to figure out ways to bring in another stream. My goal is to not be totally dependent on one income alone. No matter what you make it’s still a good idea to have additional stream coming in. Creating passive income opportunities is a great way to add extra streams of income.
What is Passive Income?
An income is passive when it requires you not to do very much to keep that stream of cash flow coming in. Now don’t get me wrong, passive income does not mean you don’t have anything to do at all. You will have to put some effort to get it started and of course you want to track it to make sure it’s operating the way you need it to. This post will detail four ways I bring in passive income.
Digital products are ebooks, workbooks, etc. that you create once and sell over and over again. Ebooks, workbooks, and planners are my favorite digital products to create. I can sit down and create something in a matter of days or weeks that will help my audience and also bring in a stream of income for myself.
Tools I use to create ebooks, workbooks, and planners:
- Google Docs or Microsoft Word
How to export those digital products:
Squarespace (upload your digital product to your site to sell)
CreateSpace for printed books (that you can sell on your own site or Amazon)
Tip: Use PDF stamping to make your ebooks difficult to share.
Affiliate linking is another way I bring in passive income. Amazon Associates is one of my absolute favorites. Here’s the deal, Amazon sells just about everything, so it’s very easy to add a link to a product your discussing in your blog posts. Note: To comply with FTC guidelines be sure to add a note to your post containing affiliate links to let your readers know that you may earn a commission on purchases made from clicking your links.
Want to sell your own branded t-shirts, mugs, or tote bags? Printful is a great way to do it. Printful is a print on demand company that’s very simple to use. Create your design, upload it to your product, set your price, and Printful does the shipping for you. Well, it’s a little more to it than that. Click this link for more details on how to use Printful.
This is a fairly new one for me. I have decided I want to figure out how trading stocks worked, but I didn’t want to throw away a lot of money trying to figure it out. I decided to start with the Stash App. With Stash you can start investing with just five bucks. Stash uses exchange-traded funds that have these really cute and easy to understand names like Internet Titans. They recently added individual stocks and I can’t wait to add a little Netflix to my portfolio. Here’s a link for a more detailed description of how to use Stash.
So, those are the current ways I bring in passive income. What ways have you added a passive income stream? Have you tried any of the ones I listed above? Let me know what you think in the comments.
* Affiliate links were used in this post