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Start a YouTube channel.Although the YouTube area is aggressive, theres small overhead cost to begin. In case youre passionate about your chosen niche and provide value to your audiences, advertisement placements and sponsorship opportunities can help you earn a substantial passive income.
License your photos. If you have a natural eye for photography, consider selling your photographs to stock photography websites. Once approved, youll earn royalties whenever a client downloads one of your photos.
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Design t-shirts or other products. Create fun and trendy graphics for e-commerce sites like Zazzle or CafePress to put on all kinds of products from t-shirts to mugs. Production is taken care of and youll earn a commission on the products offered.
Create website templates. If you fancy yourself an HTML wiz, designing and offering website templates for bloggers or e-commerce sites could be a great source of passive income for you.
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Sell graphic design documents. Even amateur graphic designers can earn a passive income by designing and selling graphic design documents like icons or templates of all kinds.
Publish an ebook. Have you got a story youre itching to tell Writers no longer need to wait for the attention of a publisher to release their job. If you market your book well (think social media), self-publishing an ebook will earn you plenty of residual earnings.
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License music. For the musically inclined, licensing music, especially instrumental tracks, can generate a decent passive income and help companies or video founders looking for high-quality audio.
Sell digital art files. To lower overhead expenses and minimize supply chain logistics, design a piece of artwork or photography and offer a digital download for a lesser price. Many men and women are looking to furnish their homes on a budget and could happily print the art themselves.
Create an eCourse. An eCourse can be about anything youre passionate about. Have a great deal of knowledge about electronic marketing Produce an eCourse! Are you an expert in the field of bird watching Produce an eCourse! Anything you love, theres an audience on the market.
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Record a video course. Similar to e-courses, you will find endless options for video course topics. Video as a medium delivers a personal connection and a different way to learn, making it an equally viable option.
Sell a lesson plan. If youre a teacher you can make a passive income by simply selling your lesson plans online to additional educators. Its something youre doing already, so why not share the knowledge
Make an online guide. If youre an expert in your area or have in-depth knowledge of how something works or how to correct something, you can compose a manual for this.
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Sign up for cash back credit cards. Many credit cards offer you some sort of money back benefits, but finding one that delivers the most rewards for your lifestyle is the key to maximizing your return.
Advertise on your vehicle. Some companies will pay money for advertisement space on your vehicle. All you have to do is push aroundwhich youre probably doing anyway!
Engage in research studies. Get paid to let researchers monitor anything from the shopping habits to you sleeping patterns. In case youre comfortable sharing this information, it can be a great source of passive income that needs little to no effort.
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Rent a room in your home. If you already have an excess space in your home, rent it out. You can make extra money with only some basic hospitality.
Shop with money back check out this site sites. Shopping through sites which provide cash back benefits can be as effective as couponing, if not more! Just shop as you normally would and earn rebates on your purchases.
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Rent your stuff. Have you got random equipment filling your garage that you rarely use Rent it all out! Specialized equipment for lawn maintenance or home improvement jobs is often a one-time use for most people. Youll earn some money and other people are going to be able to use your resources my explanation for a fraction of the cost of buying them outright. .
Launching a side business or figuring out how to invest your money when youre strapped for time isnt easy, but the payoff makes it all worthwhile. The money you earn from passive income will undoubtedly get you well on your way to achieving your financial objectives and that much closer to true financial freedom.
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Sources: Reit.com Investopedia Dividend.com Well Kept Wallet Money Done Right The College Investor
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