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My Best 6 Passive Income Ideas For Beginners

Do you want to make extra income? I want to share with you Passive Income Ideas that will add additional income sources to your inflow this year. If you are serious about finding new ideas to invest in this year, I have many ideas I built up over past years and I will be sharing those thoughts with you this year.

This one is about passive income ideas for beginners. Even if you are not a beginner you might still find some of them you can tap into. So, I have selected the six most profitable passive income ideas you can start now.

If you are thinking of a new business or side hustle you can start this year, this 6 Income Ideas are best for you. Especially if you are looking for options that could earn you money by the side and still not be financially frustrated to Start or operate.

However, if you are looking for the popular passive income ideas, the most popular among them include investing in the stock market, owning real estate, investing in a business, or simply even keeping your money in a high yield savings account. But they all require huge up front capital.

What’s Passive Income?

The best definition of Passive Income is found on Investopedia blog. It defined Passive Income as earnings derived from a rental property, limited partnership or other enterprise in which a person is not actively involved.

That means for an investment to be classified within Passive Income Ideas it won’t require your active involvement. That’s what differentiates it from other forms of investment. It’s this same reason the rich invest in Passive Income Ideas.

They want to have free time on their hands to enjoy life and make the most of living. If you are thinking of investing in Passive Income Ideas this year as a beginner, think of these six ideas as your starting point.

My most important consideration here is to give you ideas you can possibly start now as a beginner without the challenge of startup capital.

4 Types of Passive Income Ideas

Passive income comes in 4 main categories. These are like the main branches of Passive Income Ideas. Every passive Income idea falls within one of these categories. As long as they followed the definition on Passive Income as explained above.

  1. Investment returns.
  2. Residual earnings from assets you build yourself.
  3. “Renting” assets you already control.
  4. “Reverse” passive income; that is, saving money on recurring expenses.

These 4 categories better describes what Passive Income looks likes.

Beginner Passive Income Ideas

I have also selected 6 of these Passive Income Ideas to help kickstart your drive for earning Income from passive investment. And my selected ideas are such that you could start without capital.

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Some you may already have skills for. While others you may need to learn new skills to start them. Whatever suits you or best describes your dream Passive Income Ideas, just pick and begin to implement.

Note that your better knowledge of the platform for each of the ideas will matter a lot. For example, selling digital files on Etsy might require you not just to know how to package digital files but also how to sell on Etsy.

{1} Affiliate Marketing

Do you know affiliate marketing? That’s starts out our number one guide to Passive Income Ideas. Affiliates are the easiest ways to earn Passive Income off and on the internet.

Wikipedia defined Affiliate marketing as a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts.

So, you are getting paid each time customers buy from merchants as a result of your marketing efforts.

Affiliate marketing is my best Passive Income idea. Here’s a quick steps on what you need to do to start affiliate marketing.

  • Choose your niche.
  • Research different affiliate programs and products.
  • Build a site.
  • Produce excellent content.
  • Build an audience.
  • Promote your affiliate product(s).

And you should Repeat the steps on a continual basis. In essence what you are exchanging for affiliate commission is the traffic you are generating. It doesn’t matter on what platform you choose to operate. It could be a website, blog, social media, or even your email list.

Whatever that generates genuine clicks with purchase results would earn you commission from affiliate marketing.

{2} Sell Digital Files On Etsy

If you plan to sell digital files on Etsy, then you need to read the full guide published on The Work At Home Wife Blog. It’s broken down on a step by step guide on one of the best Passive Income Ideas for selling digital files.

How to Sell Digital Downloads on Etsy

However, I will only list the steps but more details are available on The Work At Home Wife site. It’s a perfect way to earn Passive income. Below are steps on how to get started on Etsy.

  1. Do Market Research.
  2. Create the Product and Set Pricing.
  3. Set Up Your Etsy Shop.
  4. Add Your Digital Products.
  5. Market Your Products.
  6. Get Reviews.
  7. Continue to Sell on Etsy.

The blog also gave more details like the types of digital files to sell on Etsy. So, you have a complete help there. And don’t even bother about the wife thing if you are a man.

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Although the blog targets wives, but the information is suitable for anyone who wants to sell digital files on Etsy website. The best Passive Income Ideas there is are those even wives can do.

{3} Peer to Peer Lending

Peer to peer lending changes the way traditional loan facilities work. It’s a little like shark loan but in a moderate more civilized fashion. It’s a method of lending money or obtaining a loan without going through the traditional loan application process at a bank.

And now there are peer to peer lending platforms that helps to facilitate the process and also provides protection for loans.

I checked out WikiHow to show you the steps to take if you consider peer to peer lending to add it to your Passive Income Ideas. WikiHow gave us this steps to follow.

  • Evaluate Lender Website
  • Opt for guaranteed Loans
  • Consider The Risk Rating
  • Fund a Your Loan

You can read more about person to person lending on WikiHow website.

{4} Create A Course On Udemy

Udemy is the world’s leading non academic skill training site in the world. If you know how to explain things more clearly with teachable skills, Udemy might just be one of the Passive income ideas for you.

Udemy allows you to sell courses on any subject your are knowledgeable on or passionate about. What you teach on Udemy is your choice, as long as they are what people want to learn.

Here are the 4 steps from Udemy on how you can create and sell your courses on the site. It’s the 4 Ps of creating a course on Udemy platform.

  1. Plan Your Course
  2. Product Your Course
  3. Polish Your Course
  4. Publish Your Course

You should also read more details yourself on their website.

{5} Sell Your Skills On Fiverr

Fiverr became the most popular on-demand skill platform with its $5 job offer. The site gives users access to skilled workers who can do any digital work for just $5. And today it has grown to become the largest and affordable poll of On-demand skill jobs. Plus it has also liberalized its static $5 fees to give sellers options to charge more for their skills.

Fiverr on their website delivered an excellent three steps on how to start selling your skills and start earning Passive Income on the website. It’s a very simple 3 steps that shows you how it works.

  • Create a gig
  • Deliver great work
  • And get paid

These simple 3 steps makes it all easy to start selling your skills on fiverr. And I don’t see any better Passive Income idea if you plan to leverage on your skills.

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{6} Sell An Ebook Online

Selling ebooks online has become much easier and faster now. According to Amazon kindle, an ebook is made up a minimum of 2,500 words. That’s easy to write a book now by just organizing the best ideas in as simple as 2,500 words.

So, you are not limited to writing bulky volumes of pages before you can convince publishers to take up your book idea. And you already know that books are the number most effective Passive Income idea.

You only write a book ones and you earn from it for the rest of your life and even after you are long gone from this world.

However, you don’t even need to know how to write a book. You can get rights to books owned by another author to sell online. You can also get a ghost writer do a book for you. The idea could be yours or theirs but the author is you.

Here is just 8 Steps to Creating and Selling Ebooks online to start earning Passive Income.

  1. Create Your Ebook.
  2. Format Your Ebook.
  3. Proofreading.
  4. Get a Cover that Sells Your Ebook.
  5. Convert Your Ebook.
  6. Add Your Ebook to a Website.
  7. Promote Your Ebook.
  8. Keep Track of Your Sales.

Conclusion

There are many other Passive Income Ideas you can adopt. These 6 were selected by me as my best Passive Income Ideas. I have equally used some of these 6 ideas. I believe they are easier to implement and start earning income immediately and consistently.

Affiliate marketing is the most easiest to start. You don’t need any capital or invest any time to have the product. All you need is signup with affiliate site to market their products or services. Post your affiliate links on your website, blog or social media profile and start receiving clicks and commission as they purchase the items.

Think of Passive Income Ideas as your backup Income strategy. My books on Amazon earns me Passive income every month. I barely promote it though. And if I do, it’s once in a while.

P.S: What do you think of this post? Share your views with our readers and help someone gain more from this article.

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