Have you ever wanted to make passive income but you felt like you didn't have
the money it took to get started well in this video I'll share with you 7 passive
income ideas that take little money to get started and if you're new to the
channel then hit that subscribe button below for more life-changing content
idea number one leverage high interest bank accounts if you have money laying
around in the bank and have never really thought twice about it then more likely
than not you were not maximizing the returns on these funds while using bank
accounts to make passive income won't make you rich overnight sorry about that
moving your money into higher yielding accounts can help your money grow at a
faster rate than you've normally been experiencing and you know what the best
part is is that most banks don't require a minimum balance meaning that even if
you don't have much money to your name you can start to gain a little bit of
extra interest on the money you do have you see as of 2019 the average savings
account interest rate was a measly 0.09 percent well what a lot of people don't
know is that there are a number of better options available for instance if
you're looking for a low risk high interest earning cash account Betterman
every day currently offers a two point four four percent APY which is more than
27 times the average and this account is fee free meaning that the difference in
interest you earn is yours to keep now you're probably thinking how much of a
difference will this make on a yearly basis well if you had $500 in a standard
of savings account earning just 0.09 percent annually you would earn just 4
cents a year a measly four cents however in the high interest bank account
earning at two point four four percent annually would leave you with twelve
dollars and voila we'll admit this is nothing to get too excited about it
takes next to no effort and will only compound as you contribute more into the
account idea number two start a blog if you're a good writer or even a mediocre
one starting a blog can be an excellent way to make passive income while
starting up a blog does take a good amount of work upfront once you have
your content online and it starts to gain traction within the Google search
engine you'll be making money whether you continue to publish content or not
so you may be wondering how does the Blagh even make money well let me
explain as your ball gets views ie traffic readers will interact with your
site this can be by following your affiliate links and buying products you
recommend purchasing courses you build or just helping you make money using
Google Adsense one thing to note about this method of making passive income is
that it takes quite a bit of effort especially in the beginning this is
because in order to gain traction on your site you will need to research
write and market your content but like I said after the content and is live it
will make you money month after month and one of the big upsides of starting a
blog is a low startup costs all you really need is the domain and web
hosting which can be very affordable it's like like GoDaddy offer domains for
as little as $2.99 for your first year and it's less than $30 for two years
which is plenty of time for your site to start making you passive income when it
comes to web hosting this is also relatively inexpensive you can get web
hosting from Hostgator for less than $4 a month which is actually under $50 a
year maybe that's starting to make passive income could be yours for
roughly $50 annually idea number 3 sell an ebook if you like the idea of writing
but don't want to deal with the technical headache they can come with
blogging consider self publishing your own ebook ebooks are often much sorted
in the normal books which puts a less of a burden on you to produce a masterpiece
what's even better is how cost effective this method of making passive income can
be if you have a computer then you're in a good position as all you need to
publish your ebook is your word document containing your text and a cover image
now you can insource all of the writing editing and graphics yourself but if you
want to spruce up your book getting professional help can be very affordable
for instance you can get a professional book cover on Fiverr for just $5 and
proofreading can also be contracted out for cheap meaning that for around $50
you can build an asset that can make you money in perpetuity so let's say you
want to try out this ebook business well Amazon Kindle direct publishing is
probably the easiest platform to get started on Publishing takes just a few
minutes and most ebooks appear on Kindle stores worldwide within one to two days
with Amazon KDP you can earn up to 70% royalties on each sale to customers in
most countries and you could say your own prices
and make changes to your book at anytime idea number four sell an online course
in the 21st century information is the most valuable asset and one of the best
ways to take advantage of the information age is through the sale of
digital products like online courses now you may be thinking I have no idea what
I could create a course about and don't worry that's normal
the good news is that there is a market for just about any information product
online from courses on web development to productivity and even journaling
chances are you are skilled in multiple areas of which at least one of them can
be used to create a value packed course what's better is that the cost of
creating an online course is quite low most courses consist of either audio in
a slideshow or a video of the course creator which can be manufactured using
your smartphone meaning that you really don't have to invest any money to start
leveraging this passive income method additionally selling your courses can be
cost effective too as multiple platforms exist where you can host your course for
free and receive a percentage of the profits when you make a sale for
instance if you host your course on udemy any sale you make using the site's
organic traffic will have you receiving 50% of the courses cost and if you can
generate your own sales you'll net 97% of the purchase price therefore with
your current knowledge and a computer and a smartphone you could be making
passive income in no time idea number five start an ad agency
think about how many small businesses are in your city chances are most of
them are not effectively using social media to attract more clients or drive
more sales to their business most will have a regular Facebook page but that's
not enough to spread the word in today's crowded newsfeed that's where you can
come in as a Facebook ad agency owner one of the best parts about this
business model is that once you have a client's advertising campaign set up and
running smoothly there's very little ongoing work needed on your end
outside of checking in for a few minutes each day it is a relatively hands-off
business model so I'm still consider it to be quite passive after everything is
initially set up you can be an agency of one person or you can choose to expand
as they start to serve more clients even with very little experience learning the
art and skill of Facebook ads is doable and can be variant
there were numerous beginner and intermediate level tutorials on YouTube
and even on sites like you to me you can find Facebook marketing courses for as
little as 15 bucks you see offering services like Facebook
marketing is beneficial because you were trading experience for dollars which
typically involves less capital upfront then opening up a brick-and-mortar store
or creating a physical product so how much can a facebook agency earn you it
is quite common for Facebook specialists to charge anywhere from a few hundred to
a few thousand dollars a month per client which is why it is one of my
favorite passive income ideas idea number six created an online store with
the explosion of e-commerce comes the opportunity to create a positive income
stream used in an online store in particular drop shipping has become very
popular and if you're unfamiliar with it here's how it works you create an online
store that offers products from certain manufacturers a person visits your site
and orders a product and then your system sends the order to the specific
manufacturer the manufacturer then completes the order by shipping it
directly to the customer at which point you collect the profits one of the cool
things about this type of business is that you do not need to order inventory
meaning a much lower initial cost making it perfect if you have little money to
start with moreover setting up your shop can be
inexpensive as well many drop shippers set up their stories in Shopify which
charges just $30 a month which is much cheaper than the thousands of dollars
who would cost to open up a brick and mortar shop in your city in short once
you have your store set up the rest can be completely automated meaning that
you'll be earning income no matter what you're doing idea number seven start a
youtube channel every day regular people like you and me are making money on
YouTube well you may use YouTube to pass the time or learn something new for many
people YouTube is how they earn their living and much of this income comes in
a passive form you see every time someone watches one of your videos ads
can appear and you can make money from those odds alternatively your viewers
can also buy your courses or affiliate products making you money without any
extra effort on your end after the video is released now the reality is that
running a YouTube channel is anything but possum in nature as build
audience takes consistent work and video output but once it videos released it
acts as a digital asset accruing you add revenue and hopefully sales over time
but let's say you just relied upon ad revenue to generate passive income what
could your earning stream look like take a look at the channel far from average
this channel gets over 3 million views every month earning the owner over
$10,000 in ad revenue alone now of course this is a large channel and
getting to this point will take time but even with a smaller channel making a few
hundred dollars a month possibly is quite doable what's better is that
starting a YouTube channel doesn't have to be expensive most youtubers like mr.
beast the YouTube sensation was over 20 million subscribers started their
channels using just our iPhone therefore creating your own channel and making
positive it come through this means really shouldn't cost you anything and
there you have it 7 passive income ideas you can start with a little money which
will allow you to make money while you sleep thanks for watching if you want to
go from the life you have to the life you deserve then hit the subscribe
button below
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