Smart Passive Income Strategies for Busy Students

20 Best Passive Income Ideas for Students:

1) Creating a YouTube channel:

Streaming videos on YouTube is one of the best ways to make money as a college student. With YouTube, you can build a large following and become well-known in a short period of time. All you have to do is set up a YouTube account and produce high-quality content on YouTube.

You can create a YouTube channel as a student and earn $18 per 1,000 ad views. This equates to $3 – $5 per 1000 video views.

2) Sell Old Textbooks:

There are many sites on the web that can help you sell your old textbooks like Chegg or BookScouter as well as on Amazon, eBay, or Craigslist.

Sell your old books and textbooks and earn passive income from something you don’t need. You can also sell other people’s books and textbooks.

3)Cryptocurrency Investments:

College students can also generate passive income by investing in cryptocurrency. While these investments are quite speculative – they can be a great way to generate income.

The first step is to create a free Coinbase account. From there you can purchase your favourite cryptocurrencies such as Bitcoin, Bitcoin Cash, Etherium, and others.

In 2030, you can expect the BTC price to be around $569,996.95 on average.

4) Create an Online Course:

It’s easy to create an online course on sites like Udemy or Skillshare. You’ll have no upfront costs, just create a course and leave it there. That makes it a great source of passive income. But it has to be a good course.

Think again if you think you have nothing to teach because online courses could cover anything from how to take great photos with your phone to applying makeup to writing rap songs.

It is possible to earn anywhere from $1000 to $100,000 per year with online courses. Your revenue will mostly depend on the amount of traffic you can bring, your conversion rate, and the price of your courses.

5) Tutor:

It is also possible to tutor students online. This can be a great way to make some extra money, and it is great for students who are well-versed in certain subjects. If you are a tutor, you can advertise your services on Craigslist and other similar sites or on sites like Tutor.com.

Start tutoring today and watch your passive income grow! There are tons of subjects you can tutor students in, so there’s something for everyone.

Most online tutors are paid between $30 and $60 per hour for basic subjects but can reach $50 or $60 per hour for advanced subjects such as SAT preparation or calculus.

6) Video Editing:

It is possible to earn extra income by editing media like videos and photos. Many individuals and production agencies are looking for people to edit content during their free time.

Freelance video editors can offer editing services from the comfort of their home. Getting clients and outsourcing the work is one way to make the job more passive. Video editors earn a lot of money, especially when the content is long and high-quality.

Depending on your experience and duties, freelance video editors make $20 an hour on average in the U.S.

7) Participate In Sleep Studies:

It is less popular, but sleeping can actually be a passive income source if you take part in sleep studies that companies and organizations initiate during research.

During sleep studies, organizations like NASA recruit volunteers and pay them over the course of the study period. It is not uncommon for institutions like Harvard and others to pay volunteers to participate in their studies, which is an easy and lucrative way to earn extra income.

Healthy volunteers, aged 18 to 30, are being recruited for the study, which pays up to $2,500. Another study on circadian rhythms, which requires sleep monitoring for two to four weeks and a stay at a sleep lab for five days, pays up to $1,800.

8) Make Money by Completing Small Tasks:

In this case, you won’t be earning a passive income. However, there are many freelance websites like UpWork, Freelancer, etc. that you can use to earn money.

It is possible to sign up for such websites and complete tasks such as language translation, video transcription, content writing, graphic design, and much more. This will lead to an income for you.

9) Become a Vlogger:

For students, vlogging is an excellent passive income option. You can start a Vlog by just turning on your camera (or using your phone!) and filming your everyday life.

Vlogs are very popular on Youtube. Once you reach a certain level of audience and viewership, you start earning income.

You can earn money from advertising, affiliate marketing, and brand sponsorships. Building your audience will take time and effort, but once you reach a certain number, making money will be easier.

A vlogger with a large following can earn between $10,000 and $20,000 a month from sponsorships, advertising, and merchandise sales.

10) Pet sitting:

Even though it’s not completely passive, you probably can do your homework and play video games in your apartment anyway if you have a cute puppy or kitty beside you.

Obviously, you have to feed them and maybe take a few walks, but overall it’s pretty passive income.

Your pet-sitting profile on Rover can help you find pet-sitting jobs, and you’ll feel much better knowing that little Rex or Regina is in good hands.

In general, pet sitting starts at $10/hour and can reach $25/hour.

11) Create an Amazon FBA business:

“Fulfillment by Amazon” is a business model where you send your products to Amazon, and they handle storage, shipping, and customer service so you can focus on other aspects of your business.

12) Renting Your Bike:

You can earn money by renting out your bike(s) to other bikers if you seldom use them. There has actually been a bike rental business for a long time and it can be a lucrative passive income source.

You just have to know bikers in your area or join peer-to-peer platforms like spinlister.com to start your bike rental business.

To maintain your customers, make sure you rent high-quality bicycles and offer reasonable rates.

Renting your bike can earn you over $500 per month, depending on the number of bikes and clients you have.

13) Guide about Project Work:

As a student, you can guide other students and share different ideas about the project tasks. Science projects require a lot of creativity and innovation.

Share new ideas and guide students. This will help many students score higher and be more innovative.

14) Vending Machine Business:

You can earn money by investing in vending machines on your campus so that students don’t have to make a long trip to the cafeteria for instant snacks.

Before you buy one, do your research so you know what the average student needs.

Make sure your vending machines are located in high-traffic areas. For example, if your vending machines are near dorms, you might want to stock them differently than if they are near lecture halls.

A well-placed and well-stocked vending machine can earn $100 a week or more, whereas most vending machines earn less than $5 a week.

15) Become a Social Media Influencer:

The popularity of social media these days makes it a great opportunity to make some money. Wouldn’t it be great to make money without having to work hard at it?

You start by choosing a niche, choosing a platform on which to share your content, and then writing content.

You need to work for passive income through social media marketing. You can earn money by running ads, affiliate marketing, etc., once you have gained considerable traction.

16) Virtual Assistant:

It is also possible to make money by becoming a virtual assistant. You can make money as a virtual assistant by working from home, and it doesn’t require too much experience or special skills.

You can find work as a virtual assistant on websites like UpWork and Freelancer.

A virtual assistant’s salary ranges from $21,000 to $56,000 per year, with the median annual rate at $36,272. Hourly virtual assistant pay ranges from $10.16 to $29.49, with a median rate of about $16.

17) Earn Money by Creating a Quiz:

As I was travelling by train recently, I noticed two kids playing quizzes online and one of them was asking her elder brother general knowledge questions.

In addition, I have seen that students are increasingly taking quizzes online. As a student, look at this as a passive income opportunity.

It is possible to create your own quiz website for very little money and monetize it. You can monetize your quiz site in a number of ways. You can create a mobile app if you have some technical knowledge or are familiar with coding.

18) Creating a Digital Product:

The idea of creating digital products such as e-books, videos or courses on subjects you are passionate about is a passive income idea for students that doesn’t require much work.

It is possible to sell these products through websites like Udemy, where people pay a small fee per purchase.

19) Parking Spots to Rent:

Your parking spot at home may be free during your college break. If you have a free parking space, such as a garage or driveway, you can rent it out and make hundreds of dollars every month.

When parking spots are hard to find and expensive in big cities, people who have free spaces actually make money renting them out as parking spaces.

A parking space can earn you anywhere from $100 to $400 a month depending on the location and demand. You can also list your space on renting apps to get more clients.

20) Online Video Game Streaming:

Many people around the world enjoy watching their favorite gamers. If you love video games, you can make money playing them.

Basically, all you have to do is record the video, upload it to an online platform like Twitch or YouTube, build followers – and then watch as passive income rolls in. A gaming influencer agency, such as Grin. co can also help you get started.

There are some people who make a lot of money from online gaming, but it really depends on the number of followers you have. With time, you could reap some great benefits, however.