Creating passive income is not as difficult as you think. I can show you ten ways to create passive income with no money. Maybe you think it can’t work. Well….
You wouldn’t be the first to doubt such a possibility, but you’re not a fool to discard this content.
Ok. What could you lose if I was wrong? Maybe five minutes of reading, but imagine I’m correct.
Table of contents
What is Passive Income?
Passive income is income you can make wherein you’re not actively involved in creating the income. Hence, this income can come from rentals, shares and stocks.
Although you’re not actively involved in passive income, you’re expected to pay the required tax from your income.
Even though passive income comes easily, building it is not easy. You usually need high capital before you can start creating passive income.
You still get huge capital whether you choose rentals or any others above. Sometimes, the capital is not always money, depending on the type of passive income stream you want to build.
However, as a student who wants to create a passive income, you might need more energy capital than financial capital or, say, with no money.
Maybe you don’t see the necessity for an extra income stream, or you’re scared it’s not for you. That decision is not the best for you, and I’ll tell you why.
Why You Need Passive Income
Hey! Money is essential; no matter how much you have, you will always want to make more.
Additionally, there are only 24 hours in a day, and you would want to ensure you utilize it to make as much income as possible.
Of course, you know that as a student, you must meet up with tuition and other academic expenses. And these expenses have no plans of reducing their numbers. Instead, they go up.
Even though you might be studying on a scholarship, you don’t see the necessity of getting an extra income stream; at least do it for charity or your future.
A business takes time to grow, and if you can start building your business as a student, the results will be bigger because the advantage of time would have helped you understand your market.
When you have grown the income, you can open up other passive streams like business consulting and development.
Is Passive Income Real?
To deny the reality of passive income is to deny that there is a sun that gives light to the earth. Passive income works and has been working for a lot of people.
Most of the richest men today leveraged o passive income to build their wealth. For example, Bill and Melinda Gates Foundation have shares in Apple Inc.
The income they receive as shareholders help them sustain their foundation and carry out charity work worldwide.
So, if you think it’s not real and an absurd idea, you’re wrong.
Are Capital Gains Passive Income?
Capital gains are income you receive when the value of your investment rises.
In essence, you buy a property for a certain amount, and people begin to gain interest in your property. You can simply increase the price to get the highest ROI possible.
So, when it comes to capital gains, it is a sure passive income stream. In fact, it’s one of the strongest passive income avenues you can venture into and grow.
Are Stocks Passive Income?
Stocks are the total shares of a corporation divided among its shareholders.
Essentially, they signal how a corporation’s assets are split among the decision-making bodies of the organization.
In earning passive income as a student, stocks are a good investment opportunity. However, you don’t need to trade.
You can hire the services of a professional stockbroker to help you with trading in the stock market.
Where Can I Invest Money For Passive Income?
There’s what people call an investment plan. In plain English, it is a plan wherein you put money into different businesses under the stock market and gain profit from time to time.
So, you must do quality research before creating an investment plan yielding passive income.
You must ensure you dig deep into the company’s profile and review the history of its transactions.
Additionally, you must get information regarding their assets and liabilities. This part reveals the true health of the business.
However, before you decide to invest in another, it’s in your best interest you learn ways to create a passive income stream with no money as a student.
How Can I Make Passive Income?
Passive income is meant when someone says they are “making money while they sleep.” Traditionally, financial investments would be used to accomplish this. These days, many artists begin a passive income stream by developing a digital good that they can resell repeatedly.
If you wish to begin generating passive income, keep the following in mind:
What upfront investments can I make (considering time, money, and effort)?
Do I possess any abilities or expertise that others would find helpful?
How can I make the process of imparting my knowledge or talents automatic?
There might be steps you can take to boost your short-term profits, depending on the passive income source you decide to pursue. For instance, some sellers of digital goods will employ various marketing techniques to make their products more accessible to consumers, increasing sales in a shorter amount of time.
Others might expand the scope of their passive income business with additional goods that complement their initial offerings in an effort to recoup a clientele that has already been won over.
10 Ways To Create Passive Income with No Money
Now that you’ve understood passive income and the necessities involved. You can now learn the ten best ways to create passive income with no money.
These ways include;
- Web Applications
- Stocks
- Student Resumes
- Web Photographs
- YouTube Videos
- Website
- E-Books
- Digital Files
- Network Marketing
- Affiliate Marketing
10. Web Applications
Since the explosion of the internet in the late 19th century, online has almost become the new normal.
Web applications have become one platform connecting us to individuals outside our location.
Additionally, people have created virtual classrooms using these web applications wherein students can learn.
In the same vein, many businesses have leveraged web applications to help them do business. In fact, most of the biggest tech. Companies run strong web applications.
How to Build A Web Application
Building a web application is not easy, but it’s highly rewarding.
One of the biggest assets you can have is a knowledge of programming. However, if you don’t know how to code, you can either obtain the services of a web developer.
You can get some of these professionals on platforms such as; Upwork, Fivver etc.
As the web developer writes the program, you can get acquainted with your copy which will help you convert your leads or sell your application.
After you have produced your application and set it up on the App Store and Playstore, you earn as your downloads increase.
So, you can imagine how that money keeps coming from just once and for all coding.
9. Stocks
As earlier said, stocks are the dividends of a company’s shares.
Stocks are one of the best ways to earn passive income with little or no money, as you need an initial investment.
Then you can keep trading in the market or hire a broker and set him on a retainer.
Before you choose the stock market to do business in, you must be sure they’re transparent and reliable.
Trading is not a skill that you will learn in a day. You need to devote the required time and energy to learn it. Of course, you will have a rough start, but you will gain stability with time.
However, the best thing for you would be to get someone to help you trade with your money while you learn the ropes.
8. Student Resumes
A resume simply itemizes the core experiences and skills of the recipient in order to show them qualified for a position.
Resumes are extremely important. Only a few people get a job without submitting a resume. However, in that case, the person must be highly recommended.
These recommendations don’t come easy, and they are not for low-entry positions. So, the majority of the workforce populace has a resume.
A resume can help you apply for another job even while you’re with a job. The ease of preparing a resume makes it a very good way to make passive income with no money.
How to Create a Resume
Creating a resume is not a very difficult task. In fact, with the right tools, you can easily get it done in minutes.
When preparing a resume, you need to understand how “ATS” works and the use of correct keywords in your description of responsibilities.
A good resume usually helps the applicant get into the interview room.
7. Web Photographs
Many photographs are not found on the web. Some of them have serious copyright measures which forestall their use of them.
Hence, web platforms usually seek images they can use for their blog posts and, sometimes, product pages.
Selling web photographs is easy, but you must be willing to work hard.
The hard work involves gathering these stunning pictures clearly describing a matter.
You must usually write to these people via mail, telling me the pictures you can sell, or you can upload them and lock them.
Ensure the photographs are of high quality and don’t have heavy data space.
Selling web photography is a sure way of making passive income.
6. Create YouTube Videos
YouTube is the biggest channel in the world where you get access to real-time and recorded videos.
These videos talk about all facets of life. While some talk about sports and religion, others are interested in fashion and music.
This platform is the second most visited web platform in the world. It’s just a place behind Google.com.
Most of the videos on this platform are posted by platform users who earn from it.
So, can you imagine creating one video and watching it rake in money countlessly?
One of the biggest wins was a young boy of less than 10 who made $20 million off YouTube reviewing children’s toys.
How to Create a YouTube Video
Creating a YouTube video is not as complicated as people make it seem. It has been so simplified that you don’t a manual to help you.
Creating a video requires that you possess the right digital tools. These tools include a camera, great light(natural or artificial) and earphones or microphones.
After you have created your video, you quickly go to their web application and upload your video.
Ensure you make the video simple, sweet and interesting. Advertisers will want to advertise your videos as your video views rise, and you’ll get paid.
5. Website
Building a website is similar to building a web application. The only difference is that a web application is more complicated.
Today, building a website is one of the easiest things to do as the whole process has been automated.
A lot of web-based content management platforms have been managed. Well, this content you’re reading is courtesy of a website and a CMS.
To build a great website, you just need to inquire about a search engine, and you’ll get practical answers to help you.
4. E-Books
Books are important. They convey information which is transformational.
The introduction of e-books has further popularized and increased the reading of books.
Writing books has always been rewarding and fulfilling. How? Because your readers gain new insight that can transform their lives, and you get paid.
Additionally, books never get old and are created once and sold to thousands of people.
You can employ different marketing methods for your book depending on the subject area to write about.
You can easily create your e-book using your phone, laptop or desktop.
There are web applications online that help you transform your book to pdf where you can lock it and serve it.
3. Digital Files
Digital files are one of the biggest assets to help you make passive income as a student.
These digital files can include courses, sales copies, newsletters, etc.
The more investment you make in ensuring their workability, the more reward you gain.
However, you must ensure you package your files in such a way that it solves a particular problem and attends to a market need.
As much as getting a digital file is necessary, you must have the right approach for your market.
2. Network Marketing
Network Marketing is one of the biggest investment portfolios out there right now.
You simply register yourself and get other people to register under your network.
Immediately they register, you earn on every registration made by your down lines.
Most network marketing platforms demand that you purchase products, while others require a one-off purchase.
Before you decide on a network marketing chain to adopt, research properly and get yourself prepared.
1. Affiliate Marketing
Affiliate Marketing is one of the best ways to earn passive income no matter your status or level.
This marketing technique involves you as the middleman between a company and its customers.
In this business, you earn commissions on every buyer you convert and every sale your converted buyer makes.
In affiliate marketing, you don’t need to wear t-shirts and do a lot of advertising; it’s simpler.
Your advertising can start from normal conversations, which can grow into marketing.
Before choosing to affiliate with a company, ensure your research tells you their customer base is within your reach.
Conclusion
Whether you choose affiliate marketing, ebooks or digital file sales, you’ll make your income passively.
Passive income is very important because it gives you the time and equips you with the income to pursue bigger goals.
So, stop sitting on any excuse. You can make passive income, and you can do it easily too.
References
- investopedia.com – passive income
- smartasset.com/investing – how-to-make-an-investment-plan
- economictimes.indiatimes.com – stocks
- entrepreneur.com – 299444
