11 Effective Ways To Earn Passive Income

Passive Income

Something that we all want is MONEY. The more, the better. Isn’t it?

Well, there are a number of ways to earn passive income other than your regular income from the full-time job however, that would require a certain amount of hard work, smart work, and dedication.

Let us have a good look at How we can earn passive income.

11: Peer to Peer Lending (P2P): 

Although, a new concept, it is gaining popularity now. More people are lending money via this channel and earning handsome returns.

How it Works – You can lend directly or get in touch with P2P lending platforms. They deposit money from various investors and lend it further in the form of small ticket size loans. You can start with a small amount and make good passive money via this channel.

10: Consulting:

This is one of the best sources of making passive income. Based on your expertise in any field, You can offer to consult people and charge them fees accordingly.

9: Paid Blogging/Content Writing:

In an age where the internet is the platform for almost everything i.e, internet of things (IoT), People are leveraging their skills online by creating blogs or writing for someone else.

8: Commission based jobs:

You can look for jobs that share a commission with you i.e, for every sale you get paid your share.

7: Online Entrepreneurship (Internet): 

Great way to earn money online is by setting up your own website or blog that offers value-add products or services.

You can set-up e-commerce website and start earning passive income by selling your products there. There are successful entrepreneurs who have not only earned passive money but also built fortunes via this route.

6: Referral: 

You can refer your friends or relatives or anyone and start earning passive income immediately. For example – You can promote a product, an online book, event, subscription, or anything that earns you money by referring your contacts. Every time a sale is made, you earn passive income (your share of the deal).

5: Freelancing:

One of the most common ways to earn passive money these days. You can leverage your skills and get paid a handsome amount.

For Example – Training and development classes, Interview preparation, CV writing, Data entry work.

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passive money

4: Earn Cashback: 

Use your credit card wisely and earn cashback. Credit card providers offer alluring cashback these days. You can consider earning cashback

 

3: Real Estate Advisor/Consultant: 

Want to earn passive money, Consider becoming a real estate consultant. This is one of the ways to earn handsome amount of money passively.

 

2: Investment in Capital Markets:

Invest in stock markets (It is advisable to consult a financial advisor if you do not have knowledge). You can invest via Mutual funds route or invest in other debt instruments.

Consider investing in dividend-rich stocks or mutual funds to earn passive income.

 

1: Coaching:

You possess good skills, Starting coaching classes may be the best way to make passive money.

Now that we know ways to earn passive income, let us also look at ways to improve credit score.

5 Easy Ways To Quickly Improve your Credit Score And Save Hard Earned Money.

 

 

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