‘Passive income’, a buzzword for anyone who wish to earn money in the easiest way possible, and what’s easier than sleeping? This is how you don’t even have to open your eyes or even move an inch to get ‘PAID’ for one time not so heavy efforts. There are no dodgy schemes explained here, certainly no thaumaturgy of making dollars and definitely no unfair means, just to make things clear before starting.
While having such unsavoury search, usually people expect crazy answers. But hereby assured, you really can earn money while sleeping. Just to mention, ‘NOT LITERALLY SLEEPING’, but these ideas require least of your efforts and once you are set, there’s very little or no efforts required. Like we have always been taught, ‘hard work is the key to success.’ No doubts, certainly it is, and even like I said passive income does require piffling efforts and hence doesn’t contradict the old pedagogy. If you think working 9-5 doesn’t make you enough income then also passive income can be useful. You don’t have to be physically present for that and hence you can execute two jobs at a time.
“SITTING QUITELY, DOING NOTHING, SPRING COMES AND THE GRASS GROWS BY ITSELF.”-Zen Proverb
Here are 7 best ideas about the same, to earn money while sleeping:
1. Earn Money from Renting
Buying investment properties can make huge profits while you sleep; you regularly earn passive income from the tenants. Property loans are being provided by banks and hereby you have to decide if your property can get you enough profit to exceed the interest repayment. This can be done by some investigation and research about the values of similar properties around or simply you can consult a property dealer there. This way you can make an estimation of the value you are likely to get. This is what we call ‘cash flow positive’ kind of investment. Renting can be of different types, for example, house renting either a portion of your house or some other property, paying guests (students, working people), car renting, play station renting etc.
Trading by putting in little more efforts Forex Trading is the platform that can make you a decent earning, without moving out from your blanket. It’s an online business that enables you to invest in currency, while the international market is full of fluctuations that have profited many, making an investment in currency exchange makes good money. Foreign exchange market has its door open to enable a person for buying, selling and exchanging currency. Why not give this a shot while surfing on the internet?
3. Online Earning
While I would have set a more attractive title but under this short point, I am not going to brief you about a single way but three the aspects that I know to make online easy cash through Amazon, Google. YouTube and Instagram. Most of the world’s population has a Google account but have you heard of Google AdSense? Here you can earn money by approving the type of adds you wish (the ads have varying payments) to be displayed on your blog, site or anywhere. Every now and then you hear people earning via YouTube and Instagram, these two websites are based on your followers, the more eyes you can have on your published stuff the more recognition you would get. People have literally made hard cold cash out of this, why not you?
4. Earn Money from Investment in Startups
This is the generation where startup seminars are organised every now and then, everyone wants to get into business and many new ventures come in existence. Attending those and paying keep attention over the ideas they tend to share, combining it with your marketing knowledge and personal evaluation make the decision of investing. As a starter, the share would cost you less but if the investment is intelligent will earn you huge profits and you don’t have to work for that. Once you have invested, you will get returns with every dollar the company earns. A dividend is your share in the company which was invested once. Before investing your capital, don’t forget to make a thorough research. The dividend yield is a financial ratio; the higher the number of dividends is, the more secure you would be about profitable investments.
The best part about the share business is, after one investment all you have to do is collect your dividend’s cheques regularly. This is what truly is earning whilst sleeping.
Related- 8 Crazy Ways to earn Extra Money
5. Earn Royalties
PS: This royalty doesn’t refer to any crown. How you can earn these royalties:
a) Book Writing
Can your mind come up with some phrases that could sell? This is what you can do, write a novel and get it published. With every book the publishing house sells, you earn your part. Until your book is being sold, your mailbox will receive those fancy payment cheques.
Interested in music being a Singer, composer or writer? You can earn your royalties in the same way like a writer does. Just compose something and viral it online and YouTube is your platform for this, if you aren’t a video person then you can sell digital productions on sites like FetchApp, Shopify. Advertise the more you can and with every album or song sold, you earn your part.
Earn interest: Simply invest money in the bank which provides highest interest rate and you can earn your money without even lifting a finger.
c) Create your own Product
If you are someone like me, who can’t sing or somehow isn’t calm enough to write a novel. Then here’s a one-time effort, make any kind of product like a cookie, design a dress, accessory or ANYTHING OF USE and sell that to the site which sells the same, a company where your product could complement what they already sell. Once the company starts the marketing phase, keep yourself updated with the sale and earn.
d) Buy rights of royalty from other people
The owner of a product has given you the right to get a part of his royalty by selling his product. There are online sites which help you to sell.
6. Make your Udemy course
Udemy is an online platform that allows you to buy/sell video courses and has a huge collection of courses. You don’t have to be a customer there, make your own video course, and get that published there. This is your way to earn money if you hold a good knowledge of any subject and you can sell that online. It is just like tutoring but a one-time effort. Be the producer on Udemy and earn while you sleep.
7. Affiliate marketing
Heard of affiliate marketing? Affiliate marketing is all about your social connections around and a wonderful way to earn money. Get ‘the merchant’, customers for his product and with each, you earn your commission. It’s all about driving sales for the retailer. Your soul goal is to sell the product and clear your capital. You can even make a website (if you can’t then what you can do is hire a developer who would do the same for you), boost the products of your retailer. The best way to do is to look for companies that sell products online or offline and help them boost their sale. You can even set up a blog for the same, once you know what kind of marketing you are supposed to do and the product you want to sell, this would get you huge profits. You can begin with ClickBank or related websites, and gather some knowledge about your field. Do not forget to research about the demand.
Here lending isn’t mentioned as an option because somehow it is risky and in today’s world banks provide loan for almost everything.
Selling advertisement requires a site which should be self-sustaining, not an easy task to accomplish if you get enough customers selling advertisement would become a passive task but a self-maintaining site isn’t like sleeping and earning, being an IT engineer I would suggest these sites take huge efforts and time to set up. This is the same case with blogging and article writing, you write regularly to get paid and it cannot be done in your sleep or with little efforts. So these were the best ideas to earn putting in least efforts, just as an initial investment and there you go making money with each asset you earned in your pocket just with an erstwhile endeavour.