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Begin a YouTube channel.
Even though the YouTube space is competitive, theres little overhead cost to get started. In case youre passionate about your chosen niche and provide value to your viewers, ad placements and sponsorship opportunities can help you earn a substantial passive income.License your photos. In case you've got a natural eye for photography, consider selling your photographs to stock photography websites. Once approved, youll earn royalties each time a customer downloads one of your photos.
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Design t-shirts or other goods. Create fun and trendy graphics for e-commerce websites like Zazzle or even CafePress to put on all kinds of merchandise from t-shirts to mugs. Production is taken care of and youll earn a commission on the goods sold.
Create website templates. If you fancy yourself an HTML wiz, designing and offering site templates for bloggers or e-commerce websites could be a wonderful 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 such as icons or templates of all kinds.
Publish an ebook. Do you have a story youre itching to tell Writers no longer have to await the attention of a publisher to release their job. If you market your book nicely (think social websites ), self-publishing an ebook will earn you plenty of residual sales.
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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 movie founders looking for high-quality audio.
Sell digital artwork files. To reduce overhead expenses and minimize supply chain logistics, design a piece of artwork or photography and offer a digital download for a lesser cost. Many people are looking to furnish their houses on a budget and could happily print the artwork themselves.
Create an eCourse. An eCourse can be about anything youre passionate about. Have a great deal of knowledge about electronic marketing Create an eCourse! Are you an expert in the field of bird watching Create an eCourse! Whatever you love, theres an audience out there.
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Record a video course. Very similar to e-courses, there are endless options for video course subjects. 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 create a passive income simply by selling your lesson plans online to other educators. Its something youre doing , so why not share the knowledge
Make an online guide. If youre an expert in your field or possess in-depth knowledge of how something works or how to fix something, you can write 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 offers the most rewards for your lifestyle is the key to maximizing your return.
Advertise on your vehicle. Some companies will pay money for ad space on your car. All you need to do is push aroundwhich youre probably doing anyway!
Engage in research studies. Get paid to allow researchers track anything out of your shopping habits to you sleeping patterns. If youre comfortable sharing this information, it can be a terrific source of passive income which needs little to no effort.
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Rent a room in your house. If you already have an excess space in your home, rent it out. You can earn additional money with only some simple hospitality.
Shop with money back sites. Shopping through websites which provide cash back rewards can be as powerful as couponing, if not more! Simply 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 projects is often a one-time use for most people. Youll earn some money and other folks are going to have the ability to use your tools to get a fraction of the price of buying them . .
Launching a negative business or figuring out how to invest your money when youre strapped for time isnt easy, but the payoff makes everything worthwhile. The money you earn from passive income will undoubtedly get you well on your way to achieving your financial goals and that much closer to true financial freedom.
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Resources:Â Reit.com Investopedia Dividend.com Well Kept Wallet Money Done Right The College Investor
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