Being able to generate money by doing nothing sounds like a pipedream but it is possible to do. Passive income is a way of receiving a regular monthly payment from, essentially, doing very little work. Here are some ideas of how you can generate a passive income - though if none below take your fancy, or you are looking for more resources and guidance as you start your journey, check out MoneyTreeSeed.com and take advantage of the support and tools available to you.
Write a book
Everyone believes that there is a book inside them, and there might be. The only way to find out is to sit and write one. If you manage to finish your manuscript, you can easily self-publish it using an online platform. Once it is uploaded, you can sit back and collect your royalty payments from book sales. This method requires no investment other than your time to write the book.
Rent out property
If you have property, you have a unique opportunity to create a large amount of passive income. Renting your property out as a holiday home or for tenants is a great way to generate some cash flow. Using a site such as LODGINGRevs can help you manage your short term rentals. Of course you could sell your property too and get a lump sum but you could lose out on the long term security of property ownership.
Sell stock photos
If you have an eye for photography, three are plenty of websites you can use to upload your work and sell your photos. Stock photos are always in high demand so there is a good chance that you can make extra money this way. Some types of photos will sell better than others so don’t be afraid to experiment. Unfortunately you will only make around a dollar per photo. Having more photos available increases your likelihood of a regular payment.
Check out your banking options
Stocks and shares have become a focus point after a Reddit thread created a bunch of millionaires overnight. Becoming a millionaire overnight doesn’t happen often, but your chances of earning a small, regular income from your investments are much better. Talking to a financial advisor about your options can open doors to new ways of generating an income. Financial markets can be difficult to predict so it is better to speak to an expert about the possibility of investing and look for the best online investment platform.
Create a blog
The digital nomad lifestyle is a great example of how to create a passive income. Having a blog which has high traffic can generate a regular income through advertising. This can take a bit of work initially but once it is up and running, you should see a regular monthly income. How big that income gets is up to you. Blogging has an unlimited earning potential so you will never see a cap on what you can earn. This also applies to creators on YouTube, and social media influencers.
Whatever your reasons for wanting a passive income, there is an option for you. You could choose one of the ideas listed here, or try your hand at all of them. When it comes to passive income, the sky's the limit.