I want to introduce you to ten passive income strategies I personally use to earn $1,000 per month or more. If you’re ready to set yourself up for life, you’ll want to pay attention.
1. Dividend paying stocks and other investments
The first passive income idea on this list does take some start-up cash, but it absolutely helps me earn more than $1,000 per month. Dividend-paying stocks, ETFs, and other investments like Fundrise and Lending Club are helping me earn money around the clock – and all with no work on my part. While the amounts I have invested in these accounts vary, they’re all paying me more than $1,000 per month.
2. Affiliate Marketing
Where investing is a wealth-building strategy that has been around forever, the second passive income option on this list is fairly new. Affiliate marketing is an income idea that requires you to have a website or platform you can use to promote other companies, or “affiliates.” When someone uses your affiliate link to purchase a product or sign up for a service, you get paid.
3. Display Ads
Display ads work like billboards you see on the side of the highway, only they’re featured on your website instead. The point is that advertisers are paying to promote their products — their ads just so happen to be on your website.
4. CPC Ads (Cost Per Click)
With CPC ads, also known as “cost per click” ads, on the other hand, you get paid when someone clicks on an ad no matter what they do after that. I don’t have to hope and pray they buy something or sign up for anything at all. Every single click puts money in my bank account.
5. Sell leads
While building the website wasn’t passive at all, we made a lot of changes to the website over time to make it much more passive. Eventually, I even decided selling the leads my website generated was a lot better deal than earning commissions when a purchase was made.
6. Create a Digital Product
While courses are digital products you can sell over and over, there are other types of digital products you can dive into. I’m talking about e-books, online instruction guides, and basically anything else you can market and sell online.
7. YouTube Ads
While YouTube ads aren’t nearly as “passive” as some income-producing strategies on this list, they still fit in with the rest of this post. I’m making YouTube videos anyway, so why not post ads that bring in additional revenue? The passive part comes in because I make the video once and earn income over and over as more and more people see it.