May 27, 2024

South West News

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Passive Income: 10 Ways to Make Money While You Sleep

Everyone dreams about earning money without any effort. This idea is not exactly far from reality and it’s called passive income. If you know how to invest properly, you’ll be able to earn money without even getting out of bed.

Here are 10 great ideas for creating a passive income:

Crypto affiliate program

It goes without saying that if you’re smart enough, you can make large sums in the crypto market, but the simple method of buying and selling isn’t the only way. You can try one of the crypto affiliate programs. Companies that sell coins pay so-called affiliates for promoting their products and you can sign a contract with one of them.

Writing an e-book

If you’re an expert in your area, don’t hide your knowledge from the world. Write an e-book based on your expertise. Of course, you need to advertise it to bring customers’ attention but you don’t need to do it yourself. Many agencies in the market can help you.

P2P lending

You can earn income through peer-to-peer loans. It means that you lend money through an intermediary (for example LendingClub) so that you get it back with interest. You just invest your resources and let them multiply.

Developing an app

In business terms, apps are similar to e-books. You just need to create it once and let people buy copies.

Video courses

Qualified people can earn on running courses and trainings. Usually, their students pay them per hour, but it’s not the only mode. You can make a course, where every lesson is in the form of a pre-recorded video.

Crowdfunded real estate

To successfully invest in real estate, you need to pay attention to many details. If you feel you’re not experienced enough you can check out one of the crowdfunding platforms. There, you can find professionals who know everything about real estate investments. Your sole task is to invest a given amount of money.

Rental Income

Investors who have a bigger amount of resources can try to invest in rental properties. For example cottages in the mountains where tourists sleep at weekends.

Car advertisements

On the road, you can see cars with advertisements on them. They could belong to a specific company but not necessarily. Some advertisers are ready to pay you for displaying their content on your vehicle.

Publishing sponsored posts

Do you have a blog or a fanpage? If so, you should start cooperation with advertisers and incorporate their services into the content you publish. Your income will be calculated on the basis of the number of views and clicks.

Selling designs instead of products

Are you an artist? It’s wonderful to combine your passion with your professional life. But to create an artistic work you need to devote yourself to it fully. It can be daunting when you see your efforts are not reflected in money. So instead of creating individual pieces for every client, you can sell your designs and let people do with it whatever they want.