Your Guide to Creating a Passive Source of Income Online

Are you not satisfied with your current income? If some, why not take a few hours of your time every day and work toward creating a passive source of income? More and more people seek financial independence by working on the internet, and some manage to achieve this goal.

A couple of hundred dollars every month can improve one’s situation. If you are uncertain where to begin, the methods in this article should be a good reference.

Method #1 – Print on Demand

Print on demand could be one of the first ideas to consider. The ecommerce industry continues to reach new heights, and the growth was noticeable even before the pandemic, during which more people have started to shop online.

Statista projects that ecommerce worldwide will be worth nearly 4.5 trillion dollars by the end of 2021. But where does POD stand in all of this?

Well, the demand for custom-made merchandise grows, and it is no longer just t-shirts or mugs. New products also have their place in the market. Custom face masks are one of the most recent examples.

And while most stores start with custom all over print shirts, it does not take too long before they scale the business and introduce new merchandise. TOP10 items sold online include T-shirts according to ecommerce statistics presented by Printify.

If you find it difficult to create new and interesting designs regularly, hire a freelancer. It is also worth considering a joint-venture approach. Managing a print on demand business alone can be challenging at times. Having another person would mean that you can share the workload.

Method #2 – Streaming

Streaming is a popular alternative to regular TV programs and other forms of entertainment. Twitch TV has opened doors for people who have an entertaining personality or talent and can attract an audience.

Streamers make money from sponsorship deals, subscriptions, and donations. Some even start a YouTube channel and you can buy YouTube views to boost your channel.

If you are not shy and can entertain an audience, try streaming. Who knows, it may become your ticket to financial freedom.

Method #3 – Online Education

Online education is not just about students who have to learn remotely because of the pandemic. No, plenty of adults are looking to improve themselves and learn new skills. Whether it is for a new job or because they want to gain more knowledge matters not.

The demand for interesting and valuable online courses is there. And when there is demand, there is also an opportunity to make money.

You can select a popular topic, look for as many sources on the said topic, and compile it into an online course. Skillshare and Udemy are the two platforms where you can sell courses.

Method #4 – Blogging

Blogging has been around for many years. Some would argue that the oversaturated market makes it difficult for new bloggers to find their audience. However, those who do not bother trying will not know whether they can make a living from writing a blog.

Despite the fact that blogging can take a while to bring you money, it is still one of the ideas to consider. Focus on content quality and consistency.

Once you have an audience, you can think of how to monetize the website. Some bloggers stick to AdSense or other ad networks; some prefer to advertise digital products, like online courses. And then, there are those who create a crowdfunding page and leave their financial well-being in the hands of the readers.

Method #5 – Online Surveys

If you have an hour or so to spare every day, online surveys are one of the simplest methods to make money online. You need to fill out surveys by answering questions. Check services like Swagbucks and Inbox Dollars regularly, and you should be good to go.

The amount you can make depends on how long the survey is and what it offers. On average, it takes about 10 to 15 minutes to complete a survey, and you can make as much as 10 dollars per hour. It might not seem like much, but it is still something.

Method #6 – Customer Support

The need for more customer support employees is there because of the pandemic. People need to shop online, and not every store can keep up with customer requests.

The work itself may be a bit monotonous at times, but the pay is decent. Moreover, if your hours are not too busy, you may also have enough time to work on a side gig in addition to your job in customer support.

Method #7 – Various Freelance Gigs

Platforms like Fiverr and Upwork offer opportunities to find various gigs. Some jobs require a particular set of skills, like copywriting, wedding photography, graphic design, or SEO. However, there are plenty of simpler gigs, like data entry, transcriptions, and virtual assistant work.

You can register and join freelancer platforms to make extra money. Keep in mind, though, that there is competition. It is recommended to start with low bids first until you get some positive feedback on your profile to build trust and authority. It will become easier to find better jobs later.