We all think Creating a passive income is very tough. But the answer is not that much, we just need to know how it works and what are the opportunities. As a student it’s always a good idea to have any side income which can help you to pay your bills. I can show you ten ways to create passive income with no money.
What is Passive Income?
Passive income is income that requires little to no effort to earn and maintain. It is called progressive passive income when the earner expends little effort to grow the income. Examples of passive income include rental income and any business activities in which the earner does not materially participate. Some jurisdictions’ taxing authorities, such as the Internal Revenue Service in the United States of America, distinguish passive income from other forms of income, such as earnings from regular or contractual employment, and may tax it differently.source: https://en.wikipedia.org/wiki/Passive_income
Even though passive income comes easily, building it is not an easy Which is a fact. You usually need a high capital before you can start creating passive income.
Whether you choose rentals or any other ways, you still get a huge capital. Some times, 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 let’s say with no money at all
Why You Need Passive Income?
Of course, as a student, you have to pay your 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, hence, you don’t see the necessity of getting an extra income stream, But in future it may help you with anything else. Cause money is something that we will always need.
10 Ways To Create Passive Income with No Money
Here is a list of some ways
- Web Applications
- Student Resumes
- Web Photographs
- YouTube Videos
- 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 of the platforms that connect us to individuals outside our geographical location.
Additionally, people have created virtual classrooms using these web applications wherein students can learn.
In the same vein, many businesses have leveraged on web applications to help them do business. In fact, most of the biggest tech. companies run strong web applications.
As earlier said, stocks are the dividends of the shares that a company owns.
Stocks are one of the best ways to earn passive income with little or no money as you just need an initial investment.
Then you can keep trading in the market or better yet, hire a broker and set him on a retainer.
Before you choose the stock market to do business at, 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 would 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 have a resume.
A resume can help you apply for another job even while you’re with a job. The ease in preparing a resume makes it a very good way to make passive income with no money.
7. Web Photographs
Many photographs are not found on the web. Some of them have serious copyright measures which forestall the use of them.
Hence, web platforms usually seek for images which they can use for their blog posts and some times; product pages.
Selling web photographs is easy but you need to be willing to do the hard work.
The hard work involves the gathering of these stunning pictures which clearly describe a matter.
Most times, you need to write to these people vial 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 users of the platform 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 toys.
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 managed. Well, this content you’re reading is courtesy of a website and a CMS.
To build a great website, you just need to make the inquiry on a search engine and you’ll get practical answers to help you.
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.
Depending on the subject area to choose to write, you can employ different methods of marketing your book.
You can easily create your e-book by using your phone, laptop or desktop computer.
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 you can have to help you make passive income as a student.
These digital files can include courses, sales copies, newsletters and much more.
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 downlines.
Most network marketing platforms demand that you purchase products while others require a one-off purchase.
Before you decide a network marketing chain to adopt, research properly and get yourself prepared.
1. Affiliate Marketing
Affilate Marketing is one of the best ways to earn passive income no matter your status or level.
This marketing technically invilves you standing as the middlemman 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 then grow into marketing.
Before you choose to be an affiliate to a company, ensure your research tells you their customer base is within your reach.
Whatever you choose from above will help you to grows passive income.
Passive income is excellent cause it helps you to pursue bigger goals.
So, not wasting any time, work for some passive income source. I swear you won’t regret it.