7 Smart Ways for Passive Income

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We are always dreaming of big things but unable to achieve them as we fall short of money. Thus it is always good to have an extra earning source for which you would not have to put an additional effort more than once. We know that with little drops of water is built an ocean, so start saving up a few of your earnings daily or monthly and follow the following steps which might help you out for getting your dream come true. The task is not as hard as is thought. If you have a little bit of time in your hand and you too are looking to get a passive income source, perhaps this blog might help you out. On the contrary, if you are looking to be rich in a day or week this blog might not give any such help.


I am not a financial advisor, if I were I would surely be rolling in a pile of money which I am most certainly not, and though this blog contains financial suggestions they are not the only suggestion available in the world.

HOW TO GET RICH:

So let’s begin. The most important thing that we must learn, before YOLOing our money into any asset, is that what does that asset do and what are its perspectives and prospects. First and foremost we need to know what are the sources of passive income.

7 SMARTS WAYS FOR PASSIVE INCOME:

1. BLOGGING:

    The easiest way is to write a blog daily, develop a proper audience base, monetize the same. Choose a topic of your preference like travelling, cooking, painting, playing musical instruments or workouts and provide tips and tricks of your hobby. This is a good way of exploring your hobbies or extra-curricular activities for which we do not spend much time on. Or perhaps share informational snippets of the profession, business or service you are in and help budding talents. 

2. YOUTUBE VIDEOS:

    The same goes on with youtube videos. Youtube pays quite a lot and even gifts you as well. Thus many opt to go for it. If you are not into writing on a daily basis then creating a youtube channel and providing the exact contents in a visual manner might be far more enriching as people prefer video over written commodity. But I am old school and I prefer writing to videos.

3. WRITE A BOOK

    Writing a book and selling an e-book is also an easy way of earning. Here the most important factor is that the book that you are willing to write must have a good audience base and you are confident that your content would sell. Writing always is helpful and there are various topics you can choose from and you can get them self-published on any preferred platform. By this method, you shall be getting royalties on the sold books. Thus if your chosen topic is evergreen then once you have written the book you would not have to worry about it getting sold in the market even after ten years.

4. CREATE A COURSE:

    Creating a course of any potential subject which you have a proper grip on can make a huge difference as many people can benefit from what you know. Educating people helps society and equally boosts your morals. You can sell the course online on proper websites such as udemy or skillshare.

5. INVEST IN CRYPTOCURRENCY:

    Not as old as gold but the cryptocurrency market has taken the investing platform by storm and if you are willing to invest with great risk, it can be certain that with a lot of patience and proper knowledge you can easily make a 100% profit or even more depending on how much you are willing to risk. I would suggest investing less than 10% of your saving into cryptos as they have high volatility and if you enter the market at the wrong time then you may have to see a huge correction making your portfolio bleed quite a lot.

6. MUTUAL FUNDS:

    SIPs are a good way of making a habit of investing. For anyone who does not have time to research the stock market, this is the best way to invest in stocks. This not only helps you earn passively, but you also have to hardly worry constantly if the market is going up or down and which stock do I have to buy and which to sell. After a period of ten to fifteen years, the money would get snowballed into a huge sum and you would not have to break a sweat.

7. CREATE AN APPLICATION:

If you are a bit technologically savvy and know a bit of coding perhaps this might be the best way of earning. The easiest coding language to learn is Python and you can find free courses on youtube guiding you through learning the language easily and if you are determined to earn then 10-15 minutes of learning to code every day would not be that much of a burden. I would not suggest learning more than 10-15 minutes a day if the daily routine is already too cramped up with other works.


There are various other ways for passive income but in my opinion, the above ones are smart and easy hacks to earn with a little bit of effort. Hope you enjoyed the blog. Comment below on what are your seven choices of passive income and why do you think so?

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