Admit it; there are times where you skip meals just to have sufficient money to help you get through the week or having to shamelessly borrow some money from your good friend over and over again before your salary day finally arrive. Shopping or even celebrating a party is out of the question as it empty out your pockets in no time. Hate that feeling when you always have to think once, twice okay maybe thrice before spending on that shoe that you happen to saw when you walk past the mall or that PS4 that you have been eyeing for the past few months? Well, passive income may be your solution to everything above. Passive income is defined as the income that you earn, apart from you regular job, by working online. One must have the ability to generate passive income. Hence, you must a source of passive income.
Well, it is easily said than done actually.
Firstly, have some knowledge about the online resources that could help you generate a lot of passive income is fairly important.
Secondly, know how you can make money online and the pros and cons of working online.
Lastly, know which is the best platform that suits your knowledge and expertise that will help you generate income.
Here are a few tips that can help you a lot to win big in passive income.
1. Become an Affiliate
This is a very tempting source of passive income. There are tons of online platforms which pay you for promoting their products on your blogs or websites. By becoming an affiliate, you can earn a minimum of 5% and as high as 90% by selling others’ products. For people who do not know what an affiliate is, an affiliate is a person who refers people to buy the products of a specific firm. Long story short, you act as a mediator between the buyers and sellers. By doing this you get some commission because you have referred their product to the customers. There are many platforms online which can provide you with many options to become an affiliate. There is Amazon, there is ClickBank and there is also Commissions Junction which offers an affiliate program. Just go around and search for these firms.
2. Online Publisher
These people have much knowledge about the places where you can earn money by promoting others’ products and services. There are many platforms that enable you to earn money by placing advertisements on your blogs or websites. You get paid for the number of clicks. When a visitor of your website clicks on the advertisement and successfully land up on their page, you get paid. You might need a specific amount of clicks to earn a specified amount. Among many such platforms, Google Ad Words stands at the top. It comprises of 73% of online publishers who publish the advertisements they have on their own websites and make money out of them. Other such platforms include Bing ads and facebook pays well too.
3. Become a Freelancer
A freelancer, also known as an independent worker, works online for a few hours a day by accepting the tasks online client’s offers. For the past few years, there has been an increase of more than 33% on the number of freelancers working online as well as the income they are receiving. Many multiple platforms such as freelancer.com have already offered freelancing jobs for IT programming, Photoshop, content writing, graphics, multimedia, translations and among others.
For many people, blogging is just a hobby. But only a few people know that they can as well earn money by blogging. There are many online platforms which allow you to write blogs. The best of these platforms include WordPress, Blogger, Wix among others. And there are also platforms which allow you to earn money by placing a few advertisements on your blogs. Such platforms include Google AdSense, and WordPress Adsense among others.
Passive income is the best option for people who would like to secure their future by having an alternate source of income.