Do you want to make money while you sleep? If yes, then you must read this article. Hereby, in this article, I have shared the 100 unique ways to earn money while you’re sleeping.
But before starting with the article, please tie a knot – The art of making money in your sleep is not an easy job. It is not as simple as setting it and forgetting it. It requires lots of planning and investment of time and money to start generating passive income in the future.
If in case you are looking away to generate money without doing anything then please stop here. This article is not for you.
This article only includes different ways to earn Passive Income. This will get success only if you work hard and delicately for the long term.
What Is Passive Income?
Passive Income is income that you earned from a source other than employers or primary business in which you are actively involved.
For example, Income from Rent is a passive income. You will get this income over and above the salary you received from your employer. Next, in this case, you don’t need to participate actively to get this income.
This income will get generated automatically at the end of the period say weekly, monthly, or yearly.
Dividend Income generated from Stock Investment is another good example of Passive Income. Once invested, you will start getting the dividend as and when issued by the company.
You can also call this kind of income a Secondary Income or Second Income Stream.
Why Passive Income Is Important?
Whenever I think about the importance of having passive income, it reminds me of two famous quotes/sayings:
- Never put your all eggs in one basket – God forbid but just imagine, What will happen if you lost your current job? You will get unemployed and your financial condition will get worsen. Right? But, what if you have another source of income available? In such a case, your financial condition will not get worse even if you are fired from your job. Hence, never put all your eggs in one basket. It means you don’t depend solely on your current job. Instead, try to build another passive income source also.
- If you don’t find a way to make money while you sleep, you will work until you die – This famous quote was given by Warren Buffett, billionaire investor and co-founder of Berkshire Hathaway. He made billions of dollars by investing in the stock market.
From the above two quotes or sayings, you can easily understand the importance of passive income in your life.
Trust me, passive income has many benefits for you. Some of them are given below.
- No worry and Stress-free life
- Financial Freedom
- No need to work on a 9 to 5 job
- You can fulfill your dreams easily etc.
What Should be your Passive Income Strategies?
The strategy is simple. Think for the long term period and invest your time and money in a better future.
I started my first online store in 2011. Today, after completing 8 years, I am generating a very good amount of passive income from it.
I know, many of you will say, 8 years is a very long time. But before coming to any conclusion, just visit my online store selling embroidery designs and have a look around.
Today, EmbroideryShristi is having more than 11k customers across 80+ countries worldwide.
Next, EmbroideryShristi is now generating passive income without any kind of active participation in it.
Still, Worried? No problem, Just read out the below paragraph.
You will start making money within one year of starting your business. It will only take time if you want to generate passive income from it. Next, you don’t need to quit your full-time job to implement them. It can be implemented simultaneously along with your current job.
So, What are we waiting for? Let’s dive into 50 unique passive income ideas below.
50 Best Passive Income Ideas
- Buy a house or commercial property and rent it out
- Invest in a stock or commodity market
- Fixed Deposits of your savings
- Start showing advertising on your Blog and YouTube channel
- Start an online store selling digital products online
- Invest in a profitable business of someone else
- List out your place at Airbnb or Oyo rooms
- Rent out your Car
- Invest in Mutual Funds
- Invest in schemes like National Pension Scheme (NPS) etc
- Start an affiliated online store
- Use a credit card and start accumulating its reward points
- Start using a cashback website or app
- Royalty Income
- Use your car for billboard advertising
- Share your data like browsing habits etc
- Get paid to install any application on your smartphone
- Get paid for watching advertisements or videos on your computer screen
- Get paid for listening to music and playing games
- Create a mobile application
- Network Marketing
- Peer to Peer lending
- Make use of Online Arbitrage
- Rent out extra space at your house or premises
- Flip domain names
- Become Social Media Influencer
- Create and Sell Online courses on Udemy
- Pay off your old debts
- Drop Shipping Business
- Vending Machine Business
- Sell your established business
- Open a savings bank account
- Product Designing
- Sell your photos online
- Lend your name and get paid for royalty
- Social Media Marketing. Get paid for promoting products or services on your social channels.
- Invest in digital currencies
- Take Online Surveys
- Become a deemed/Silent Partner
- Learn to re-purpose your work. For example, convert your ebooks into audiobooks and then sell them online.
- Upload all your school and college project reports and other resources online
- Freelancing Work
- Content Writing. There are online websites that pay a good amount of money for the content.
- Start a Web Consultancy Business
- Private Label Product
- Real Estate Flipping Business
- Mystery Shopping
- Build a custom software and get paid for it on its renewal
- Sell Leads
- Website Flip
50 passive income ideas Printable
Here are above 50 passive income ideas in printable format below for your reference
What Is Your Passive Income Idea?
Always remember, one passive income idea will never work for you. Always try to implement more than one passive idea. Together, they will make a great impact on your life after retirement.
Next, Are you making a passive income? What are your ideas? Please don’t forget to share your ideas with us in below comment box.