Why slog from 9 to 5 every day to make money if you can earn an income doing nothing? Most ways of earning a passive income require some initial effort, but soon you’ll be earning money while you sleep.
Everyone wants to earn extra spending money or extra money to save up for that vacation you wanted to go on or save up for rainy day emergency funds.
Here Are Ways to Earn Money While You’re Sleeping
10. Buy and Sell Websites
Flipping websites is like flipping houses without all the work involved. You simply buy an existing site, tweak it a bit and then sell it at a profit. However, you need to do your research to buy sites that really are profitable.
9. Create a Membership Community
A membership community website involves people signing up for a fee to get access to extras. It’s a great way to add value to your online course and get an additional income without the extra work.
8. Create an Online Course
Creating an online course requires quite a bit of initial work, such as writing ebooks or articles and creating videos. Once these course materials are up and running, though, your system will automatically send subscribers what they need.
7. Get an Autoresponder for Your Online Business
With an autoresponder, you can provide good customer service without actually having to do anything. It sends an automatic response to emails and you can later follow up with the customer. You can also use autoresponders for marketing purposes.
6. Start a Drop Shipping Website
Canada’s Shopify is most people’s go-to platform for creating online stores that offer drop shipping. With drop shipping, you have a site that offers certain manufacturers’ products and when someone orders something through your site, your system simply sends the order to the relevant manufacturer.
5. Affiliate Marketing on Your Website or Blog
If you have affiliate links on your website or blog, you can earn money every time someone clicks on them. You can also earn cash by putting ads on your site.
4. Write and Publish a Book
E.L. James wrote and self-published a piece of fan fiction that took the world by storm and led to two sequels and a movie. The Fifty Shades of Grey trilogy earned her $95 million just in 2013. Being a published author can earn you royalties, with Amazon paying every month.
3. Buy Stocks That Pay Dividends
When you’re a shareholder in a successful company, you’ll get paid dividends – usually every quarter. The keyword here though is “successful” so do your research before buying stocks.
2. Invest in Crowdfunded Real Estate
Investing in real estate is expensive, but these days there are crowdfunding platforms like Realty Shares and Fundraise that can help you get more bang for your buck.
1. Invest in Real Estate
When you invest in real estate, you can make money as the value of the property increases, but you’ll only see that money once you sell the property. If you’d rather have the cash flow now, invest in real estate that will bring you rental income.