31+ Best Ways to Make Passive Income (That Really Work in 2021)

If you want to make money online with little effort and time but don’t know how to get started then here are the best ways to make passive income.

In this blog, we are going to cover:-

  • How do I generate passive income?
  • Examples of passive income
  • Passive income for business ideas and more…

I am going to reveal how to make $1000 a month and I am going to touch on all the points that you want to know about passive income. You are going to find the best ways to generate income from different income streams for students.

So without any delay,

Let’s jump into it,

What is Passive Income?

The first thing we need to know what is passive income?

Passive income is any income you earn in a way that requires little effort and time to maintain.

In other words,

Passive income is a secondary income or a part-time income that requires no daily effort and time to earn. 

For Example,

As you can say that the income you can earn while sleeping. This includes:-

  • Investment
  • Rental income and 
  • Any business activity.

33 Best Ways to Make Passive Income 

If you want to know how to make passive income with little money then here are our 33 best ways to make passive income to get success.

Disclaimer: Some of these ideas shown below have some risk. Some of them are not suitable for all. Make sure to read carefully.

Start to Invest in Cryptocurrencies

Invert in cryptocurrencies best ways to make passive income

Investing in cryptocurrencies could be the best way to make passive income or could not. This is true, for cryptocurrencies in general and for personal as well.

Because this includes lots of risks. There are several pros and cons to investing in cryptocurrencies.

For Example,

A while back the price of Bitcoin (Cryptocurrency)  was about $0.0008 to $0.08 per coin in July 2010. It is the cheapest price. In April of 2011, Bitcoin jumped to $1, within three months the price of bitcoin goes 3200%.

In 2019 the price of 1 bitcoin is $10,000 and right now in 2021, the price of 1 bitcoin is around $37382. It is such amazing growth and the best opportunity to make money as a teenager and It works in 2021.

So investing in cryptocurrency is the best and great opportunity to make passive income. If your investment is good then you’re going to make more than $1000 a month easily and become financially free.

Invest in Gold

When it comes to investing in gold most of us have one question in mind. “Is it good to invest in gold?”

The answer is “YES.”

The investment in gold is low-risk, it is a safe investment option, especially during this time. It is a great and smart way to passive income by investing in gold.

According to the research,

The performance of the GOLD vs S&P 500 Index for the past 15 years 2004 -2019 is significantly increasing. Suppose, if you’ve invested $10,000 in GOLD. Then you’re going to have a huge amount of money.

gold statistics for the past 15 years

Become a Copywriter

become a copywriter

Copywriting is one of the best ways to make passive income

But,

Most people think that this is a good way to make money.

The answer is “YES”.

According to research,

A new (trained) copywriter makes around $25 to $35 per hour. If you are looking for a beginner’s salary it is around $52,000 and $62,000.

The question is,

What is Copywriting?

Copywriting is the act or art of writing persuasive for marketing and advertising materials. It motivates to generate actions and conversation.

There are five types of Copywriting

  • Direct response copywriting.
  • Marketing copywriting.
  • Brand copywriting.
  • SEO copywriting.
  • Technical copywriting.

There are dozens of freelance companies that hire freelancers. Some of them are:

  • Fiverr
  • Upwork
  • Freelance
  • Freelance Copywriter
  • Copywriter
  • Freelance Tech Writer (SaaS B2B) and more….

Here is the step-by-step guide on how to become a copywriter.

Network Marketing

Network Marketing is the coolest and one of the powerful ways to make passive income

But,

It requires some network with your friends, neighbors and it is a great option (choice) for college students and teenagers. If you want to know 

network marketing

What is Network Marketing?

Network Marketing is also known as Multi-Level-Marketing (MLM). It is a type of business model that depends on the chain between person-to-person sales by an independent representative.

You may require to build a network of business partners to generate sales and leads.

The MLM dropout rates are so huge

  • A minimum of 50% of MLM representatives drops out in the first year.
  • A minimum of 90% of representatives leaves within five years.
  • By year 10, only those at or near the top have not dropped out—which means at least 95% of representatives have dropped out.

According to the research of thebalancesmb.

  • 14% made less than $5,000
  • 6% made between $5,000 and $9,999
  • 3% made between $10,000 and $24,999
  • 3% made $25,000 or more
  • .05% made $100,000 or more.

But, 

The question is,

What are the best Network Marketing Companies? 

  • Amway
  • Herbalife
  • Avon 
  • Market America

Graphic Design

The famous man who founded the Powerful Kingdom (Company) called “Apple”. He is known other than “Steve Jobs.”

“Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn’t do it, they just saw something. It seemed obvious to them after a while.”

The best way to make money as a teenager and earn some passive income easily is a great opportunity.

What is Graphic Design?

Graphic design is a skill, It requires creativity and a standard plan to solve problems or it helps to communicate messages. This includes images, typography, symbols interactively displaying them.

average graphic designer hourly rates

According to the 2016 Content Marketing Institute Case study showcased that 51% of B2B marketers mark that creating visual content is a priority.

  • $55,000 to $83,250 – Salary
  • 53.4% of graphic designers are female
  • Freelance graphic designers are expected to earn from $20 to $150 per hour

There are various graphic design hiring companies:

  • Fiverr
  • Upwork
  • 99designs
  • Freelancer
  • Truelancer
  • Peopleperhour and more…

Rent out your car

rent out your car

It is the best option for those who have a car and it is the best way to make passive income without doing anything. When you are not using the car you can give it to rent.

You can earn up to $1,000 per month without doing anything from home by simply renting out your vehicle.

You can make up to $12,000 per annum from HyperCar. It is a cool and amazing offer for teenagers and college students to make some passive income.

There are almost dozens of websites that help you meet with your customer online for free.

Some of them are:

  1. Hyper Car
  2. Turo
  3. Travel Car
  4. Getaround
  5. Avail

Become Google Partner

become a google partner

We all know that Google is now the most searchable and trusted search engine.

Here is the deal,

You may not be know, that you can make money from google for free without investment. There are so many ways to earn money one of them is “Google Partner.”

But,

The question is,

Google Partner is a marketing program for advertising agencies or third parties that manage Google Ads on behalf of other brands or businesses.

This program is most helpful for those who are an expert in Google Ads you can become a Google Partner. The first thing you need to understand is Google Ads. It is a program that is used for Pay-Per-Click Advertising.

The average salary of a google partner is about $2,169/month.

According to Google the requirements of Google Partner

  1. Growth
  2. Certificate
  3. Ads Spend

When Your Agency is Qualify for Google Partner Status

Benefits of being a Google Partner Status

  1. Education to Succeed
  2. Get Supported 24/7
  3. Bonus Rewards

Invest in the Stock Market

invest in the stock market

Investing in the stock market is one of the best ways to make passive income. 

Quote from The Unshakeable: Your Financial Freedom Playbook, found using Google Talk to Books: “…Still a Winner.” In it, he explained that if you were diversified among a basket of index funds—including US stocks, foreign stocks, and emerging-market stocks, bonds, and real estate—between the beginning of 2000 and the end of 2009, a $100,000 initial investment would have grown to $191,859. That’s a 6.7% average…”

It is the best choice for the age of at least 16 years old teenagers because it will help them to make some extra money without any effort from home.

According to Nerdwallet report,

As of 2021, On average top 10 percent of Americans owned an average of $969,000 in stocks. The next 40 percent owned $132,000 on average. For the bottom half of families, it was just under $54,000.

  1. Fidelity – Best Investor App.
  2. E*TRADE – Best App for Options.
  3. TD Ameritrade – Best Trader App.

Rent Your Stuff

rent your stuff

There is no doubt that you can earn money by renting your stuff for free online without any single investment. It is the coolest way to make passive from home.

The best part,

It is the best deal for those who are studying in college and for teenagers who don’t use their stuff.

Maybe you have your sports equipment, bike, bbq grill, makeup kit, etc.,  that you don’t use now

Then start renting,

Dozens of websites will help you to connect with your customer. Some of them are

  1. Airbnb
  2. VRBO
  3. Turo
  4. Buro
  5. Getaround

Put your Photography to work on the web

put your photography to work on the web

Photography is a famous and trending skill right now. There is a lot of demand for photography.

Famous photography said that 

“When words become unclear, I shall focus with photographs. When images become inadequate, I shall be content with silence.”
Ansel Adams

Photography is a skill or art, it is a way that you can express your words by using images and it is the practice of making pictures using a camera.

The question is,

Is photography a good way to make passive income?

The answer is “YES”

According to the U.S Bureau of labor static,

The average wage of a photographer is about $30k – $40k. Top 10% of photographers make more than $71,000 – $79,440 per year. The hourly wage is $27.53 – $38.19. It is the best opportunity for college students and teenagers. There is no age limit for this.

If you are interested in taking pictures or you have dozens of amazing photos but don’t know how to make money from photography, then it is for you.

You can put and sell your photography on the web. Here are some of them are:

  • Getty Images.
  • Shutterstock.
  • iStock.
  • 500px.
  • Stocksy.
  • Can Stock Photo.
  • FreeDigitalPhotos.net.
  • Adobe Stock and more…

Get Started Affiliate Marketing and make sales

get started affiliate marketing and make sales

Affiliate Marketing is huge to make $1000 per month easily. It is one of the best ways to make passive income. 

What is Affiliate Marketing?

Affiliate Marketing is an affiliate program to earn commission by promoting other people’s (or company’s) products.

In simple words,

Promoting other products and earning a piece of profit from sales you make.

The best part,

Affiliate marketing is suitable for all there is no age limit.

According to the research of BloggingX,

Almost half of the affiliate marketers make less than $20,000 per year. 48.36% of the affiliate marketers earn less than $20,000 per year.

The top affiliate marketers make a six-figure passive income. Some of them are

Kristy Mccubbin, Pat Flynn, Rae Hoffman, Mark Ling, John Chow, and Shawn Collins are some of the top affiliate marketers who are earning a good income with affiliate marketing.

But,

The question is,

What are the best affiliate marketing programs?

Here are the best affiliate marketing programs that help you to make $1000 per month:

  • DFO Global.
  • Amazon Associates.
  • ShareASale.
  • ClickBank.
  • CJ Affiliate.
  • Fiverr.

If you want a free affiliate marketing course then here is our super affiliate marketing course that will help you to make $1,000 per month easily for free from home.

Create Youtube Videos

create youtube videos

YouTube is a huge online video platform, where you can get any video you want. There are more than 2 billion+ users all over the world.

It is the best choice for all who want to make money online by creating youtube videos. If you’re content stands out on youtube then you’re going to make hundreds of millions of dollars from youtube.

But,

The question is,

What are the best niches that stand out on YouTube?

First thing first you need to know what your interest is? I’m going to the 5 best niches that work all time.

  • Gaming.
  • Vlogs.
  • Food.
  • Fashion.
  • Motivational.

These niches will help you to make more than $1000 per month easily.

Start a business

start a business

Starting a business is another way to generate huge passive income. People who start a business are making hundreds of millions of dollars right now.

In my words, business is the best career to stand out in a crowd and make passive income easily.

As a teenager or as a college student you can start a small business that you are interested in. 

There are so many ways to start a small business 

  1. Social Media
  2. Create Websites and more…

But, 

The question is,

What are the best niches to start a business?

  • Freelance Graphic Designer.
  • Life/Career Coach.
  • Website Designer.
  • Online Tutoring and more…

Start a Blog

start a blog

If you want to make $10,000 per month in an easy way. Then blogging is the best passive income business ideas.

According to Research of Problogger,

They recently conducted a survey of 1500 ProBloggers they asked about their income per month.

Here are the details

  • 7% of them are making – $499 to $999.
  • 9% of them are making – $1000 to $9999.
  • 4% of them are making – more than $10,000.

There are more than 600 million blogs online from the United States there are 31.7 million blogs. Then it is the best opportunity to start a blog right now.

There are so many ways you can earn money from a blog. Some of them are:

  • Email Marketing.
  • Google Adsense and other alternative ad networks.
  • Affiliate Marketing.
  • Sell Digital Products and more…

Create and Sell Online Courses

create and sell online courses

When a word sells online then, courses are the best option to make money online. It is an easy and non-investment way to earn as a teenager or college student.

The question is,

How much can you make selling online courses?

This question comes to mind for every person who wants to make money from it. According to the research of online courses how Your online course could earn anywhere from $0 – $50k+ per month. 

And there is research on about 18% of schools on the platform earn more than $10,000 per month.

The best courses that get huge sales are:

  • Computer & Technology
  • Art and Crafts
  • Education
  • Business and Entrepreneurship

Become a Freelancer

become a freelancer

There are more than 1.1 billion freelancers among 65% of them making $60,000 per annum. It is the best opportunity for those who have skills and who want to make passive income online for free.

But,

The question is,

What is a Freelancer?

Freelancer is not long-term work. It is a self-employee who offers their skills or services to companies or clients on time. They usually earn per job on an hourly or daily basis. It is usually a short-term job.

There are some demanded freelance skills of 2021

  • Graphic Design.
  • Online Writing.
  • Social Media Marketing.
  • Digital Marketing and more…

You can start up with your skill and become a freelancer, there are best you can offer your skill for free without any penny. Some of them are:

  • Guru.
  • Fiverr.
  • Upwork.
  • Freelancer.com.
  • PeoplePerHour.

Create a Mobile App

create a mobile app

If you are passionate about creating a mobile app or if you have some coding then start to create a mobile app that helps you to make money online.

In this generation, everybody uses a mobile that may be Android or iPhone whatever it may be.

Think something better and start creating an amazing app that helps people to solve their problems easily.

According to research,

The top 200 apps on the app store are making $82,500 daily and the entertainment apps are making $3090 per day. It is the best way to make money for teenagers and college students.

Invest in Real Estate

invest in real estate

Does every investor have doubts that Can I make money in real estate investing?

The answer is “YES”

There are two ways to make money from real estate

  1. Rental Income from Real Estate (By leasing Land).
  2. Increase in Property Value.

For Example,

An investor makes money between $70,000 to $12,40,000. It is the affordable and easiest way to start up. But, if you want to become rich then it would take a huge investment. If you’re a beginner investor you need to go with the affordable investment that you can.

Peer-to-Peer Lending

Peer to Peer Lending is also called P2P Lending (also known for “financing”). It allows individuals to obtain individual loans directly from other individuals (businesses or other services). It cut off the middlemen.

But, 

How can I make money from this?

The P2P lenders are going to get high returns. But, It includes high credit risk. It needs investment and this is the best investment if you’re interested in it.

Create Audio Book

create audio book

If you’re interested in reading books and want to make money by reading books then it is for you, You can create your audio-book from home without money. It is one of the smart passive income ideas.

According to Research,

The highest audio-book sales in 2019 totaled 1.2billion dollars in the U.S.

Edison Research’s national survey of American audio-book listeners ages 18 and up found that the average number of audio-books listened to per year increased to 8.1 in 2020, up from 6.8 in 2019.

But, 

The question is,

How to create an audio-book?

First, you need to find an idea to create an audio-book

There are excellent ideas that you can make audio-books and generate sales easily.

  • Mystery/Thriller – 37% of Americans listen to audio-books.
  • Romance.
  • Health and Fitness.
  • Business.

Audio-book creators make $1000 – $2000 per sale. You can submit your audio-book at 

  • ACX.
  • Audible.

Create an EBook

create an Ebook

The best source of passive income is creating and selling an Ebook online from home. In the year 2021, the United States sold more than 300 million Ebooks. The trend of ebooks is significantly increasing from year to year.

In fact, 

It is one of the best ways to make income easily. There are some of the popular niches that can generate sales. You can make $10,000 per month from home.

  • Health and Fitness.
  • Business.
  • Biography.
  • Romance Novels.
  • Beauty Treatment.
  • Self Improvement and more…

The best places to sell your EBook are:

  • Amazon Kindle.
  • eBay.
  • Bookstores.
  • Bookscoutner.

The ebook creators can make more than $10,000 per month easily by generating sales.

Try Drop-Shipping

Dropshipping is an online retail business where you don’t require to store products whenever you get a sale you can supply them to third-party suppliers.

Dropshipping is an easy method to generate sales using google ads, Facebook ads, youtube ads. 

Advantages of Drop-Shipping:

  1. You don’t own a product.
  2. Don’t worry about the quality and packing of a product.
  3. You will not handle the returns and more…

What are the best suppliers in drop-shipping?

  • AliExpress.
  • Oberlo.
  • Wholesale2B.

Several successful store drop shippers make $1,00,000 per year. All you need is a successful store and you need to build a brand that stands and competes with other stores.

Buying an Existing Business

buying an existing business

Do many people think it is a good idea to buy an existing business?

The answer is “YES”.

There are so many advantages that come from buying an existing business. Some of them are:

  • Less Risk.
  • Profit gets from the first day.
  • You’re going to save start-up money.
  • Everything is already set up.
  • Best and Established customer base.

The 2 things you need set up in your mind while buying an existing business.

  1. Find out what type of business you want?
  2. Find out businesses that are for sale.

Here is the full guide on how to buy an existing business?

Licensing Music

licensing music best ways to make passive income

If you are interested in singing then, it is the best source of passive income that will help you to make more money by licensing music.

Just like stock photos you can license your music for youtube videos, podcasts.

For Example,

As for American Authors, having “Best Day Of My Life” appear on a Hyundai TV ad. It caught on instantly and even won the Sync Music Award at the SESAC Pop Awards in 2015.

It is the most demanded music by many YouTubers, podcasters were willing to pay you for licensing music.

Then why are you wasting your time here is the full guide on how to license music and make more money.

Get cash-back rewards on credit cards

For every credit card user, it is a great chance to make money without doing anything. Every 18+ guy has a credit card. 

Do you know you can earn cash-back rewards on credit cards of 1% – 2%?

But,

You will not become rich from this method. For example, if you purchase a $1000 product then you’re going to get a cash-back of $10 or $20.

It is one of the smart ways to make passive income for free.

Try out index funds

try out index funds

You may have heard about index funds on maybe from tv or your friend, but you don’t know what it is?

Index funds are a type of mutual funds or exchange-traded funds. It is also known as a passive fund. The expense ratio is 0.10%. 

For Example,

Just to summarize the basics of it:

Let’s assume you invested $10,000 in an index fund that is selling for $50. This means you can buy 200 shares of this index fund with $10,000.

There are two ways in which you can make money from this:

1. The price of the index goes up (if it goes down you lose money).

2. From dividends (which can be selected to automatically reinvest in the index fund meaning they will buy more shares from this money).

Let’s say the price of the stock has gone up to $55 one year later. You made 200*5 = $1,000. Also assume the index fund pays out 2.2% in dividends per year to make the numbers simple. That means the dividends earned you $220 at the end of the year and if you choose to reinvest in the fund you will now have 204 shares. The $220 from dividends was used to buy 4 new shares which are priced at $55.

You could also choose to not reinvest the dividends, in which case they will give you the $220 and you will just have the original 200 shares worth $11,000 now.

The world’s most famous investor Warren Burren Suggested buying index funds. Then, it is the smart way to make passive income.

Rent out a room in your house

If you have room but no one uses it in your house. And want to make money then start renting the room. Set up a price which you satisfy.

But,

No one doesn’t know about it. Then, you can start advertising online. Dozens of websites will help you get tenants.

Some of them are:

  • Realtor.
  • Hotpads.
  • Zillow.
  • Airbnb.

It is the best passive income stream that works, this strategy will free you from tensions and stress.

Invest in a high-yield CD

inverst in a high-yeild cd best ways to make passive income

Invest in a high-yield certificate of deposit (CD) or saving account. It allows you to generate passive income with little money. Invest in a high-interest saving account that will help you to become financially free.

Start Quick research on a top high-rated savings account or top CD rates. Here is some top-rate savings account with a minimum deposit of $100.

  • Barclays, 0.40% APY, $0 minimum to open an account.
  • TAB Bank, 0.65% APY, $0 minimum to open an account.
  • Vio Bank, 0.57% APY, $100 minimum to open an account.
  • CIT Bank, 0.45% APY, $100 minimum to open an account.

Purchase high dividend stocks.

purchase high dividend stocks

The purchase of high dividend stocks means a company with a high dividend yield pays a share of profit in the form of dividends.

(Dividend means financial ratio or percentage (%) )

You are going to pay for owning stock and sharing the profit.

For Example,

A Company Z pays you a dividend of 20 cents per share you own.

Sell Online

sell online best ways to make passive income

Selling online is a cool and easy way to generate passive income. You can sell virtual and physical products online. 

There is so much stuff you can sell online on your own goals. There are so many ways to get  started.

  • Sell Online Courses.
  • Buy an Existing Business.
  • Build an Ecommerce Website.

But,

Is selling online is profitable?

The answer is “YES.”

Nearly one-four of Americans make money by selling online. It is a great thing that you can also make money by selling online.

You can start with the best and legit websites like 

  • Amazon.
  • eBay.
  • Poshmark.
  • Cash4Books.

Buying Domains and Sell Them

Buying domain can be an extraordinary way to generate income and you can become rich by using this method. 

But,

It would take years and need investment to start-up.

The best part,

You can keep a domain for up to 10 years and sell it at a considerable profit. From selling a domain you can make up to dollars $1,00,000 per year. It is a highly profitable business model you cannot imagine about it. Anyone can do it.

There are dozens of websites online where you can buy or sell your domain at a heavy price. You can sell easily and quickly.

  1. Flippa.
  2. eBay.
  3. Sedo.
  4. Godaddy Auction.

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