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6 Passive Income Ideas for 2022 — How I Earn $10,000 to $20,000 Per Month

by Florin 3 months ago in how to
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Today I’d like to discuss the top six passive income ideas that you may implement right away.

I chose these specific passive income ideas because they have either performed extremely well for me or because I know they are pretty simple to implement.

And I’ve been operating an online company for approximately four years, and my monthly revenue has been between $10,000 and $20,000 in the last year. I used to put a lot more hours on my online company when I was only working four hours a day.

But things have changed in the last year and a half because I have a little child at home who isn’t yet in daycare, which is the whole point of passive income.

You put in the time and money upfront, and it begins to work for you. So, to a large extent, my income can be classified as passive.

But I’d like to diversify it even further in the future, and I’d like to add more passive income streams to my portfolio.

Now, let’s make sure we’re all on the same page on what we mean by “passive income.”

It implies that you must first invest more time and effort into it, or in some situations, merely your money. Then, at a very minimal maintenance level, this revenue stream continues to provide you funds, and we’re not talking about any get-rich quick schemes here.

We are not claiming that you may earn money without making any investments. You invest either your time or your money, and it becomes a passive revenue stream. So the first method of generating passive money that I tried and found to be life-changing is:

1. Establishing a website or blog

If you’ve read some of my older posts, you’ll know that I was able to quit my day job before my blog had even been a year old.

And that’s when I got my first salary from media vine for $1400. Media Vine is an ad management firm that demands a monthly minimum of 50,000 sessions.

This is the quantity of traffic you must achieve before applying to this network. And if you’ve heard of Google AdSense, it’s not a good method to make money on your website because it pays far less than Media, Vine, and a few other similar premium ad management providers.

I would not recommend that you start with Google AdSense, even if you can get accepted with a fresh website and a tiny quantity of traffic. However, it is not worth it. When your traffic is still minimal, you’re better off trying other monetization tactics.

2. Affiliate promoter

You promote products and services that you have used, and you can earn a reward if someone buys through your affiliate links.

I published an essay on my Medium profile demonstrating how I utilize affiliate marketing in conjunction with blogging and how I earned $8,660 in two campaigns of a single product.

All of the specifics on how I generated money with affiliate marketing can also be found in one of the lessons in my blog monetization course. And, of course, I just mentioned it. But, to cut a long story short, I consider affiliate marketing to be a very passive revenue stream because, in most circumstances, you only need to write content about the product once and it will continue to pay you commissions indefinitely.

In the digital realm, you might refer to it as your real estate. Some blog entries can rank high on Google, and Google can provide you with continuous affiliate commissions for years. The same is true for YouTube videos. It’s more difficult to incorporate your affiliate link in a video because you’ll usually use the description space underneath the video.

As a result, many users may overlook the link and never click on it, but in a blog article. Clicking on the link is a much simpler process, but your YouTube videos may also be an excellent approach to market any type of goods.

So we’ve arrived at the next site that I highly recommend for creating passive income streams.

3. Create a YouTube channel for yourself.

It may be a more time-consuming type of content to develop than blog entries, but videos on YouTube account for such a large chunk of Google’s top search results that you simply cannot ignore this platform any longer.

Many individuals no longer use Google Search when they want to learn something, discover a tutorial, or watch a product review.

They just go straight to YouTube. And I’ll tell you more later. Because we are a social creature, video material frequently converts better.

We trust information more when it comes from someone we can see in front of our eyes than when it comes from someone we don’t know or trust. When is a text just a text and you can’t see who’s behind the screen? So YouTube is a really strong search engine, and it can be utilized to generate passive income because after you publish a video, if it starts ranking for the target keywords, you can keep getting traffic from it for months, if not years, and you don’t have to trust me when I say that.

And, as previously stated, you can use YouTube to advertise your own items or a few products, but you can also utilize YouTube to earn passive advertising money. You will be compensated via Google AdSense.

Now, how much you will be paid will be determined mostly by the major cities in which your target audience resides, as well as your niche. The same as with display adverts.

If a large part of your audience leaves the United States, you may make more money with adverts on your YouTube channel, and the next passive income option is quite popular.

4. Trading with cryptocurrency bots.

I only recently began talking about it, and I went through a training program where I discovered that I don’t have to become a day trader to make money in this market.

I don’t have to continually monitor the news to see which cryptocurrency is rising or falling, and I don’t have to wait indefinitely to see where the next market cycle will end.

Before I started making any kind of profit from my crypto, one of my bots made over 22 percent profit in just a week, and all I had to do was carefully watch the training to understand all the bot configurations, then set this bot once and sit back while the bot did over 3600 transactions on my behalf in just a week. When you sell the coin, these bots make no money. Every day, they do thousands of microtransactions and deposit modest gains into your cryptocurrency exchange account.

So, even if the coin’s price falls, there is a price range that you establish in the bot settings, so it will continue to purchase and sell, buy and sell. While the coin is inside this price range, the bot does not lose money if the price falls below where you purchased it.

It just remains idle until the coin price returns to inside the range. This could be the case for some coin purses if there is a major market meltdown, such as the one that occurred at the beginning of December. What does it imply? Did you spend money on these bots?

Not until you terminate the bot and sell the coin. The correct way to look at the issue is that when the price fell, the board continued to buy this coin on the left until the coin bear was out of reach. So, essentially, you have a lot of this currency on the left at a significant discount, and you are now theoretically hoarding this coin on the left and waiting for it to return to the price range that you established for the bot.

Let me be clear: your positions were not liquidated. On the contrary, you did not lose the coin on the left. This board simply used all of the used that you have on the right to purchase a large amount of this coin.

Consider this the safest strategy to trade cryptocurrency, because you’re effectively doing what every investing Worrell would recommend you do when the coin enters the red zone, when its price drops drastically. You’re simply purchasing the dip.

I believe it is the safest approach to trade cryptocurrency because you keep all of the bot’s gains. Even if the coin’s value has dropped. So, even if you decide to terminate your bot at a time when your coin on the left is losing value, your loss will be less severe than if you just held onto the coin and sold it at a loss because you have already received all of the profit into your exchange account.

While the coin wiggled, keep in mind that there is no way to win 100% of the time in any type of investing, even if you buy stocks. The stock market can potentially crash, causing you to lose money, or if you invest in your own firm and then an epidemic strikes.

Inquire with persons in the tourism or restaurant industries about losing their investments. So, certainly, you can lose money with any type of investment, and the crypto market is no exception. However, if you apply this approach of greed more trading when the market falls, you will lose less than you would by conducting leveraged trading or even simply HODLing, the cryptocurrency will retreat. You get to retain the bot profits regardless of where the point goes. You can benefit even if the price of the coin is lower than when you got it.

Now, none of this is financial advice, but I believe the best approach to think about cryptocurrency is in the long term. This market will provide you with excellent rewards. If you’ve been in it for a while, you can easily lose money if you just buy on the hype and then sell the first time the market falls from where you entered.

5. Selling digital things such as ebooks and others.

We’re discussing digital products such as ebooks, meal plans, audiobooks, templates, reports, and spreadsheets.

If you’re a photographer, you may try selling stock photographs or Lightroom presets. You could sell Photoshop templates, PowerPoint templates, printed diaries, and so on if you’re a graphic artist. Bottom line, what makes all of these digital items a passive revenue stream is that you only need to build them once and then sell as many as you can. Is, as you like, without having to do any more work in my blogging business, meal plans and ebooks function fairly well.

With this strategy, I don’t make a lot of money. Perhaps $200 or $300 every month, but it’s an entirely passive cash source with very little management. I only get support queries every several months or so. If someone did not enter their email correctly during the transaction and cannot receive the PDF as a result, the next best income concept is to sell online courses.

This is a semi-passive revenue stream because, depending on the degree of support that you promised your students, you may have to devote several hours each week to answering questions and assisting them with any problems. It’s quite rare these days to offer classes without some kind of support for students, so it’s not fully passive revenue, but it’s close. It is passive because it can be scaled without consuming too many of your working hours.

Assume you teach people how to run Facebook advertising. You can charge an hourly rate and work one-on-one with business owners. This allows you to work with four or five clients every day. And if you are booked every day and work full-time hours, you will most likely be able to make a fair living with this consultant firm.

But how can you expand it beyond the confines of your working hours? Or, for whatever reason, what have you wanted to work on for a few hours a day? Maybe you just had a kid and can’t put in as many hours at work, but you’d like to maintain your salary at a particular level.

That is when you should consider creating an online course based on old material you have on the subject. Instead of spending one-on-one time with each customer, you could offer a Facebook group where members could ask you questions, or if you want to offer a higher-priced course, you could add group Zoom sessions maybe twice a month to support your course. Members in my business, as well as the creation of my own online courses, let me break through to the next level of income that I could not have imagined when I first started my blog.

It does need time and effort up front because you must record video courses and sell your course. However, because it allows you to expand your revenue without putting in a lot more time, it is one of my least favorite passive income concepts. The great thing about online courses is that you may create one in your area of expertise while only investing your time and effort.

So, unlike crypto investments, you don’t need to invest your money up front with this passive income plan, but you will need to commit your time.

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Florin

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