How are you reaching your financial goals? Did you ever make plans for passive income? What other means generate money for you except your 9-5 job?
Now, I remember making a New Year’s resolution on the first day of the year 2021. Of course, I know many of us did the same and if you did not write your New Year’s resolution, I’m sure you had a plan and goals for the New Year.
Let me ask you about it. How far have you hit your target? Are you about giving up because it seems those financial goals are not realistic? Is the present-day economy affecting your finances?
Well, I bring you good news. What you need is the right information about money. Once you get it, never hesitate to take action.
Money making ideas are everywhere, but not everyone recognizes it because it often does not look like it. People are quick to tag online businesses as scams and unrealistic. Still, it is usually too late before they realize their mistakes.
For example, I would have been an early cryptocurrency investor, making huge passive income by the side, especially when the Bitcoin price was still very low. But, I was ignorant not to take action early. This is why I have decided to share with you nine(9) Passive Income Ideas for mid-2021 and beyond so that you will not repeat the mistake I made.
What is Passive Income?
Passive income is an endless stream of income that requires little effort. Most passive income ventures do not necessarily need your active participation. Sometimes, it is often called a side hustle- something that generates money for you on one side, which allows you to focus on your main job or business on the other side.
Most passive income ideas are online-related. Hence, you can make money online from wherever you are while you still have the time to do your traditional jobs.
Here are some major Passive income ideas you need for mid-2021 and beyond.
1. Make Passive Income with Hozanas Affiliate Marketing
I’m sure you must have heard about affiliate marketing. But for the sake of clarity, affiliate marketing is when you (the affiliate) receive an amount of money as commission simply by promoting and selling a retailer’s product or services.
The Hozanas Affiliate marketing is a fantastic way to generate income by signing up either as a blogger or social media influencer. Once you sign up, an affiliate link will be given to you to share on your social media platforms or blogs so that customers buy with the link.
Once a customer makes a purchase with your affiliate link, a certain percentage of the money goes into your affiliate account. Interestingly, an affiliate marketer could earn as much as $300-$1000 on a product. So, sign up for Hozanas affiliate marketing today and start making passive income.
2. Blogging or Writing
Do you find pleasure in writing? Do you have stories you would like to discuss with people? If you love to share your life experiences and valuable information with people, then you can make passive income out of your hobby through blogging.
You can blog about anything. But the question I get to hear people often ask is how bloggers earn passive income?
There are ways you can earn passive income as a blogger. First, your blog must have a large readership. This could take months of writing consistently. Once you find a niche you want to blog about, create valuable content within that niche continuously.
More so, learn the use of keywords through search engine optimization of your blog post. If that is done, you can earn money by allowing sponsor ads on your blog, selling your ebooks, webinars, and certain products.
3. Earn Passive Income Through Stock Investment
Stock and bonds don’t seem like it to many people who do not understand what it means to buy stock and bonds
Let me explain what stock, bonds and shares mean to you.
You see, several companies need money to finance their businesses. So, they either get this money by borrowing from financial institutions or offer their stocks for sale to the public.
The exciting part is that individuals can now own part of the company when they purchase a stock or bond.
4. Create an App
Are you tech-savvy?
Now is the time to make passive income with your tech skill by creating an app. This app could be a game or smartphone application that can effortlessly help smartphone users perform some tasks.
Once you create the app and people start downloading either through the google play store or the Apple Store, you begin to generate passive income.
5. Make Passive Income Through Online Survey
This is one of the amazing ways you can make money online for your opinion. Several great survey sites roll out questions for people to answer those questions sincerely. Once you sign up and answer those surveys, some bucks get into your account.
Some of the online survey sites include Survey Junkies, Swagbucks, Pinecone Research and lots more. Interestingly, you can earn as high as $50 per survey completion. Why not sign up for one today and earn money from the comfort of your couch.
6. Earn Passive Income with Cryptocurrency
The recent meltdown in the cryptocurrency market had made many people doubt its sustenance as a source of passive income. But you will agree with me that there are low-risk ways to make cryptocurrency a means of passive income for you.
For example, you might not always have to trade with your cryptocurrency. You can buy and hold for a long time and later sell when the price shoots up. The people who bought Bitcoin and hold it in 2013 when the price was still $13.40 per bitcoin are all millionaires today, with the same Bitcoin priced at $35,681 per bitcoin in 2021.
Therefore, find and buy cryptocurrency with the possibility of becoming more valued in later years.
7. You can create Passive Income By Creating a Youtube Channel
The future of wealth is now in creating digital audio-visual content. This is why creating a Youtube channel could be a means of passive income for you and make you rich.
People are hungry for the right knowledge that will help them with any problem. However, they are also busy. Hence, they needed a go-to channel to find a straightforward answer to the questions of their heart.
Creating a Youtube channel is not an arduous task. It is what you can do at a go. But first, you must know what your youtube channel will be all about. Do you want to create a youtube channel around tutorials, how-to, or anything you are just passionate about.
However, you will need other accessories like a Lavalier microphone, a good camera and lighting to make a professional youtube channel.
8. Passive Income through Dropshipping
Dropshipping involves selling products online without taking any physical inventory and management. You can earn passive income through dropshipping when selecting certain products on eCommerce stores, finding a supplier, and building an online store.
You do not need a physical store. All you have to do is register on any top eCommerce store like Shopify, Amazon, and a host of them. Once you do that, you can dropship any product of your interest in the store. Once customers find the product and click, the supplier supplies the product directly to the customer. All you just have to do is to stand as an intermediary between supplier and customers.
9. Passive Income By Investing in Yourself
The best investment you can ever make is an investment in yourself. Invest in knowledge, skills and research. Buy books and go for training. Although it might not pay you passive income immediately but surely.
In conclusion, passive income could eventually be a full-time income if you commit more time and attention to it. Feel free to share in the comment section other passive income ideas you know could benefit others.