Doesn’t your blood boil when you see a guy your age driving by, probably in an Aston Martin, with a beautiful female by his side, swerving through the road, utterly indifferent to your existence?
Why can’t you help but notice him then? Even when there’s no chance of reciprocation? It’s the aura that captivates you. The aura that radiates success and financial ease, the aura that speaks to you, not in words, but something more painful, showing you in plain sight what you are not!
But even then, you excuse yourself. You internally come up with obscure reasons to protect your own procrastination, ‘Must be a trust fund kid’, ‘Must be in a shady business, ‘It’s probably not his car’, to name a few.
Wouldn’t it benefit you more if you simply asked yourself, ‘How the hell do people have so much money?’ rather than giving yourself reasons to forget about it?
Well if you find yourself asking the same question, we will simplify it for you in two words. Passive. Income.
I once heard someone ridiculously rich say, “if you just have a single source of income, you’re just one step away from poverty”.
And it does translate very well in today’s financial trend. You just cannot rely on a job to make you money because what you are basically doing is renting out your time.
Earning passively means having such arrangements that don’t need much time and effort to manage and earn you money on the go.
You are not conventionally paid for your time by your employer, therefore, your earning potential is not limited and depends on the kind of work you choose and its demand in the market.
To build a steady source of passive income you’d ideally want to have three or four side hustles making you money while you actively earn from your job.
A side hustle is something you invest your spare time in, making you some extra bucks. From gig jobs to freelancing projects, whatever you do apart from your full-time job to earn money can be considered a side hustle.
Oftentimes, the internet’s abundance doesn’t let a person research and zero in on a few profitable side hustles.
What if I gave you the perfect passive income ideas coupled with the right side hustles?
But first, you’d need the formula to pick the right side hustle to incorporate the perfect passive income idea.
The key is to identify your natural skill set first and then go about finding out whether or not the skill set is monetizable. The combination of these two pieces of information gives you the side hustle you are most likely to make money from.
E.g Somebody with a knack for writing will choose blogging as their side hustle.
You will earn the most profit when your side hustle is a combination of a highly polished skill set with a lot of monetizable avenues.
If you have more than a couple of perfectly combined side hustles, you very well may have the formula to accumulate a lot of money in a very short span of time.
Now, I will give you a comprehensive list of passive income ideas to fix your analysis paralysis from an information overload on the internet. With each passive income idea, there will be a side hustle mentioned with the level of required skill and the monetizability of that skill.
Writing is never out of style. Especially when you can monetize it. If you have a skill for writing, there are a lot of avenues waiting for you to utilize them and maximize the amount of money you make.
The most doable and appropriate way to make passive income through writing is to start a blog. You are in the right direction if you like to articulate your opinions, views, and experiences in a clever and engaging manner.
You can start a blog for free with websites like WordPress.org, Blogger, Wix, Medium, Tumblr, etc.
Once your blog starts attracting eyeballs on Google, you can monetize it in the following ways:
A. Running Affiliate Programs: First, you need to find a product or service that you believe in and that you think you can sell. Once you've found a product or service, you'll need to get an affiliate link. This is a special link that lets the company know that the sale came from you. You can usually find these links on the company's website or by contacting them directly.
B. Selling Directly to your Audience: Since you’d have a ready audience to pay head to whatever you have to say. You can sell your own products directly to them by promoting your products on your blog.
C. Writing sponsored content: Writing sponsored content is another way to boost your income through your blog. You can set your own price for promoting products or services through your blog. It will chiefly depend on the kind of traffic you generate. The more traffic your blog gets, the more you can charge per sponsored content.
D. Google Adsense: You can get paid for featuring ads around the space where your blog content appears. Through Google Adsense, you can monetize your blog by getting paid whenever the ads posted by you cross a certain viewership. This is a great way to ensure a continuous flow of income through blogs.
Side Hustle: Blogging
Skill Set Level: ⭐⭐⭐/⭐⭐⭐⭐⭐
You would have noticed a surge in the outpour of short video snippets on your social media. There’s a reason why such a video format is getting popular.
Hint* (Short attention spans)
You can also cash in on the collective trend by making original, engaging, and precise video snippets on different social media platforms like Youtube and TikTok.
You just need to update your shorts for them to show on people’s feeds, the more eyeballs your shorts get, the more you earn passively.
Side Hustle: Social Media Influencer
Skill Set Level: ⭐⭐/⭐⭐⭐⭐⭐
This is probably the easiest way to earn passive income online as you are just required to share job opportunities with people and earn on every successful application that comes through you.
Synkdup Headhunter is probably the most comprehensive program offering this opportunity to people willing to connect top employers with potential applicants
You will need basic interpersonal skills to get going. This is for anyone who knows people looking for employment.
Side Hustle: Refer and Earn
Skill Set Level: ⭐/⭐⭐⭐⭐⭐
Starting an online store may sound like a daunting task, but trust me, it’s not rocket science. It can be a super cool way to earn passive income, and you don't have to be an e-commerce expert to get started. Here's a quick guide to get you on your way:
Starting an online store isn't a one-and-done deal, but with some time, effort and patience, it can be a great way to earn passive income.
Side Hustle: Dropshipping
Skill Set Level: ⭐⭐⭐⭐/⭐⭐⭐⭐⭐
Are you constantly scrolling through your camera and thinking “Wow, I should be making money off of these”? Well, the good news is that you can! Selling your photos online is a great way to earn passive income. Here's how to earn passively and turn your hobby into a money-making machine:
Selling photos online is a great way to start a passive income source. So, get out there, start snapping, and send your stills to as many platforms as possible.
Side Hustle: Photo Licensing
Skill Set Level: ⭐⭐⭐/⭐⭐⭐⭐⭐
If you have expertise on a certain subject matter that others are willing to learn, you can turn that into passive income by creating an online course. Here's how to make it happen:
Creating an online course can be a fun and rewarding way to earn passive income. So, find your niche, plan your course, and start teaching and beach-ing your way to financial freedom.
Side Hustle: Starting an Online Course
Skill Set Level: ⭐⭐⭐⭐⭐/⭐⭐⭐⭐⭐
Are you an artist, designer, or creative individual with a passion for creating beautiful things? Well, guess what? You can turn that passion into cash by selling your designs online. That's right, folks, you can make money while you sleep by putting your skills to work and creating designs that people will want to buy.
If you have a passion for creating beautiful designs and are looking for a way to earn some extra cash, then selling your designs online is the perfect solution. It's easy, fun, and can provide you with a steady stream of passive income. So, what are you waiting for? Start designing and watch the money roll in!
Side Hustle: Online Design printing
Skill Set Level: ⭐⭐⭐⭐/⭐⭐⭐⭐⭐
If you have a passion for storytelling and want to turn your hobby into a steady source of income, publishing an e-book is the way to go about it. Here’s how
Here are some additional tips and tricks to help you make the most of your e-book publishing journey:
Consider offering a free sample: Offer a free sample of your book to entice readers to buy the full version.
In conclusion, publishing an e-book can be a great way to earn passive income. It's easy, fun, and can provide you with a continuous flow of cash. Plus, it's a great way to share your stories with the world. So, what are you waiting for? Get writing and start earning passive income today!
*Note: Remember to always proofread your work and make sure it is of high quality. Happy Writing!
Side Hustle: Publishing an E-Book
Skill Set Level: ⭐⭐⭐⭐/⭐⭐⭐⭐⭐