Did you know that only 41% of Americans can cover a $1,000 emergency? If you’re part of this demographic, then you’re one of the luckier ones. But even so, it wouldn’t hurt to have even more savings so you can treat yourself to the occasional nice dinner or even a weekend getaway!
A great way to get this extra money is to have some passive income streams. Passive income is a fantastic method to keep generating revenue with little effort.
Interested? Here are 4 examples of passive income you should try out for a little more cash in your pockets!
This passive idea income idea might take a little bit of work initially. But if you’re blogging about things you’re passionate about, it can be something fun to do!
When you find a niche, you can start creating evergreen content that can keep drawing in people for years to come. For example, you can write about a certain type of cuisine and insert affiliate links and allow display ads on your site.
When users Google the subject, they’ll land on your page. The display ads will give you some steady income. And the affiliate links can earn you some additional money if the users end up buying through them.
2. Digital Courses
This is another idea that might take a little bit of initial effort, but once you’re done, you’ll keep making money!
Think of something you’re good at and create the digital courses around that. Once you’ve created tutorials and instructional videos, you can then post them onto course platforms that’ll get you traffic and pay you a nice fee. From there, just sit back and relax as the money rolls in!
3. Digital Downloads
Are you an artist? Or maybe you have some quick and simple digital ideas you feel would help others out. In either case, passive income from digital downloads can be ideal!
For example, you can create some digital prints of dogs, then list them as mugs, tote bags, notebooks, etc. You won’t have to worry about fulfilling orders because the site you’re listing them on will do it for you. Of course, they’ll take a cut, but it’ll be worth it when all you have to do is create some digital work and keep profiting off them!
Dropshipping is pretty popular because you get to sell items without having to handle or store them yourself. It’s a bit harder to implement than all the other ideas on this list, but it’s perhaps the most lucrative as well.
You’ll have to create an e-commerce store and get a supplier for manufacturing, packaging, and fulfillment, such as Universal Fulfillment. They’ll “stock” your store and you won’t have to pay them until your customers pay, which makes it a low-risk venture.
Try Out These Examples of Passive Income
With these examples of passive income, you’re well on your way to getting some extra money without having to stretch yourself too thin. So long as you get some smart passive income in, you’ll be able to treat yourself more and tuck away more cash into your savings account too!
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