Have you ever wanted to make passive
income but you felt like you didn’t have the money it took to get started well in
this video I’ll share with you 7 passive income ideas that take little money to
get started and if you’re new to the channel then hit that subscribe button
below for more life-changing content idea number one leverage high interest
bank accounts if you have money laying around in the bank and have never really
thought twice about it then more likely than not you were not maximizing the
returns on these funds while using bank accounts to make passive income won’t
make you rich overnight sorry about that moving your money into higher yielding
accounts can help your money grow at a faster rate than you’ve normally been
experiencing and you know what the best part is is that most banks don’t require
a minimum balance meaning that even if you don’t have much money to your name
you can start to gain a little bit of extra interest on the money you do have
you see as of 2019 the average savings account interest rate was a measly 0.09
percent well what a lot of people don’t know is that there are a number of
better options available for instance if you’re looking for a low risk high
interest earning cash account Betterman every day currently offers a two point
four four percent APY which is more than 27 times the average and this account is
fee free meaning that the difference in interest you earn is yours to keep now
you’re probably thinking how much of a difference will this make on a yearly
basis well if you had $500 in a standard of savings account earning just 0.09
percent annually you would earn just 4 cents a year a measly four cents however
in the high interest bank account earning at two point four four percent
annually would leave you with twelve dollars and voila we’ll admit this is
nothing to get too excited about it takes next to no effort and will only
compound as you contribute more into the account idea number two start a blog if
you’re a good writer or even a mediocre one starting a blog can be an excellent
way to make passive income while starting up a blog does take a good
amount of work upfront once you have your content online and it starts to
gain traction within the Google search engine you’ll be making money whether
you continue to publish content or not so you may be wondering how does the
Blagh even make money well let me explain as your ball gets views ie
traffic readers will interact with your site this can be by following your
affiliate links and buying products you recommend purchasing courses you build
or just helping you make money using Google Adsense one thing to note about
this method of making passive income is that it takes quite a bit of effort
especially in the beginning this is because in order to gain traction on
your site you will need to research write and market your content but like I
said after the content and is live it will make you money month after month
and one of the big upsides of starting a blog is a low startup costs all you
really need is the domain and web hosting which can be very affordable
it’s like like GoDaddy offer domains for as little as $2.99 for your first year
and it’s less than $30 for two years which is plenty of time for your site to
start making you passive income when it comes to web hosting this is also
relatively inexpensive you can get web hosting from Hostgator for less than $4
a month which is actually under $50 a year maybe that’s starting to make
passive income could be yours for roughly $50 annually idea number 3 sell
an ebook if you like the idea of writing but don’t want to deal with the
technical headache they can come with blogging consider self publishing your
own ebook ebooks are often much sorted in the normal books which puts a less of
a burden on you to produce a masterpiece what’s even better is how cost effective
this method of making passive income can be if you have a computer then you’re in
a good position as all you need to publish your ebook is your word document
containing your text and a cover image now you can insource all of the writing
editing and graphics yourself but if you want to spruce up your book getting
professional help can be very affordable for instance you can get a professional
book cover on Fiverr for just $5 and proofreading can also be contracted out
for cheap meaning that for around $50 you can build an asset that can make you
money in perpetuity so let’s say you want to try out this ebook business well
Amazon Kindle direct publishing is probably the easiest platform to get
started on Publishing takes just a few minutes and most ebooks appear on Kindle
stores worldwide within one to two days with Amazon KDP you can earn up to 70%
royalties on each sale to customers in most countries and you could say your
own prices and make changes to your book at anytime
idea number four sell an online course in the 21st century information is the
most valuable asset and one of the best ways to take advantage of the
information age is through the sale of digital products like online courses now
you may be thinking I have no idea what I could create a course about and don’t
worry that’s normal the good news is that there is a market
for just about any information product online from courses on web development
to productivity and even journaling chances are you are skilled in multiple
areas of which at least one of them can be used to create a value packed course
what’s better is that the cost of creating an online course is quite low
most courses consist of either audio in a slideshow or a video of the course
creator which can be manufactured using your smartphone meaning that you really
don’t have to invest any money to start leveraging this passive income method
additionally selling your courses can be cost effective too as multiple platforms
exist where you can host your course for free and receive a percentage of the
profits when you make a sale for instance if you host your course on
udemy any sale you make using the site’s organic traffic will have you receiving
50% of the courses cost and if you can generate your own sales you’ll net 97%
of the purchase price therefore with your current knowledge and a computer
and a smartphone you could be making passive income in no time
idea number five start an ad agency think about how many small businesses
are in your city chances are most of them are not effectively using social
media to attract more clients or drive more sales to their business most will
have a regular Facebook page but that’s not enough to spread the word in today’s
crowded newsfeed that’s where you can come in as a Facebook ad agency owner
one of the best parts about this business model is that once you have a
client’s advertising campaign set up and running smoothly there’s very little
ongoing work needed on your end outside of checking in for a few minutes
each day it is a relatively hands-off business model so I’m still consider it
to be quite passive after everything is initially set up you can be an agency of
one person or you can choose to expand as they start to serve more clients even
with very little experience learning the art and skill of Facebook ads is doable
and can be variant there were numerous beginner and
intermediate level tutorials on YouTube and even on sites like you to me you can
find Facebook marketing courses for as little as 15 bucks
you see offering services like Facebook marketing is beneficial because you were
trading experience for dollars which typically involves less capital upfront
then opening up a brick-and-mortar store or creating a physical product so how
much can a facebook agency earn you it is quite common for Facebook specialists
to charge anywhere from a few hundred to a few thousand dollars a month per
client which is why it is one of my favorite passive income ideas idea
number six created an online store with the explosion of e-commerce comes the
opportunity to create a positive income stream used in an online store in
particular drop shipping has become very popular and if you’re unfamiliar with it
here’s how it works you create an online store that offers products from certain
manufacturers a person visits your site and orders a product and then your
system sends the order to the specific manufacturer the manufacturer then
completes the order by shipping it directly to the customer at which point
you collect the profits one of the cool things about this type of business is
that you do not need to order inventory meaning a much lower initial cost making
it perfect if you have little money to start with
moreover setting up your shop can be inexpensive as well many drop shippers
set up their stories in Shopify which charges just $30 a month which is much
cheaper than the thousands of dollars who would cost to open up a brick and
mortar shop in your city in short once you have your store set up the rest can
be completely automated meaning that you’ll be earning income no matter what
you’re doing idea number seven start a youtube channel every day regular people
like you and me are making money on YouTube well you may use YouTube to pass
the time or learn something new for many people YouTube is how they earn their
living and much of this income comes in a passive form you see every time
someone watches one of your videos ads can appear and you can make money from
those odds alternatively your viewers can also buy your courses or affiliate
products making you money without any extra effort on your end after the video
is released now the reality is that running a YouTube channel is anything
but possum in nature as build audience takes consistent work and video
output but once it videos released it acts as a digital asset accruing you add
revenue and hopefully sales over time but let’s say you just relied upon ad
revenue to generate passive income what could your earning stream look like take
a look at the channel far from average this channel gets over 3 million views
every month earning the owner over $10,000 in ad revenue alone now of
course this is a large channel and getting to this point will take time but
even with a smaller channel making a few hundred dollars a month possibly is
quite doable what’s better is that starting a YouTube channel doesn’t have
to be expensive most youtubers like mr. beast the YouTube sensation was over 20
million subscribers started their channels using just our iPhone therefore
creating your own channel and making positive it come through this means
really shouldn’t cost you anything and there you have it 7 passive income ideas
you can start with a little money which will allow you to make money while you
sleep thanks for watching if you want to go from the life you have to the life
you deserve then hit the subscribe button below