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20 Passive income ideas to make money in 2020
20 passive income ideas in 2020. The new year is around the corner so do the ideas of making money. If you have been searching for ways to make money then there are many.
Isn’t it nice to have multiple sources of income Yes it is? This is a business model that can get you money over and over and over again. From teenage influencers to youtube stars they bag huge amounts of money.
No, it is not necessary for you to be famous but can be fortunate enough to cash in big. Passive income with proper planning and execution can earn you abundant money without being busy 24/7
I have selected some of the best 20 passive income ideas for anyone to get into and start your journey making money on autopilot.
What is Passive income? 20 passive income ideas 2020
The term “Passive” refers to without being active. Passive income is a method of earning money when you have not put in much effort into building your business.
1. Blogging- 20 passive income ideas 2020
Blogging is the most lucrative way to earn that has always attracted thousands of people from every walks of life.
It is a method of how beautifully you can present your work that is capable of solving people’s needs.
Writing with the intention of helping others. Let’s have a quick look at what we require to create a blog.
- Platform (CMS)
The question that why do you want to blog. It literally solves the requirement of a niche. Niche in simple words is the topic you are interested in.
- Make money
- Web creation
Be very clear in what you do and take the necessary steps to teach others.
Now you need a platform most likely CMS (Content management system) that you would put your work on. Seeing the perks of technicality I would strongly recommend you to start with WordPress.
You can easily access things required to run your blog up and running.
What is your online address? Where people can just hop in to see your content. An online address is what you need to drive people to your content.
A web address requires storage space. It will keep all your data, media files, videos, etc.
Good hosting with an average monthly charge of 2.75/month will suffice.
The term “affiliate” means connected to others. If you have quite a good following on social media then it is the right time for you to monetize your following.
What is affiliate marketing?
If you choose to promote someone’s product or services in exchange for a small percentage of commission for each sale you drive to the merchant’s website.
- Manufacturer or merchant
- Affiliate network
A publisher like you and me signup to a different affiliate network to get access to the products merchants have provided for.
You can signup for an affiliate program in order to drive traffic to the merchant’s website. For each sale, you earn a commission
Well, many of you would love this the reason it requires less capital and easy to get started with.
Dropshipping is a method of managing a business without having the need to keep stocks or inventory. Dropshipper have a tie-up with the manufacturer or wholesaler which they buy as and when there is a demand for the product.
You receive the money from a customer and approach the wholesaler and buys that product and sell it. There is also a probability that you transfer the money you have received to the wholesaler they pack and despatch to the destination.
Kylie Jenner the youngest self-made billionaire made headlines on the news. Kylie cosmetics which is a Shopify powered dropshipping website.
Go to Shopify they give you 14-day free trial and start your dropshipping business.
4.Print on Demand
It has a huge profit margin keeping in mind to whom you target. You can design a custom T-shirt only when a customer places an order.
There are several other things which you can also print hats, mugs, leggings, hoodies and phone covers.
A business method which allows you to print only when an order is placed by the customer. This requires less upfront cost and without managing large inventory staffs and miscellaneous
Choose your target audience to whom you would like to print based on that plan your marketing. Here are some of the useful sites which you can start your print on demand business with.
5.Earn typing names
Here is a company that has been recently listed on “the fortune 500” as the fastest-growing company.
If you are creative enough to come up with different names and taglines this may be the best for you to earn bucks up to $300.
Literally you can earn up to $300 by just typing names. Excited haa
Squadhelp allows you to suggest names, taglines for companies for which they pay. sign up with Squadhelp and get your creatives ideas to earn a dollar.
It has a “Tier creative” only which gives a business the freedom to hire the best creatives. Come up with some creative names to get hired by businesses every time.
6. Selling crafts
Want to earn money selling crafts online. Then this could be for you
Crafts business has grown into a thriving industry. There are several websites that allow you to sell crafts online taking your creativity to the world marketplace.
If you want to make money selling crafts here is a list of websites you can consider to bring some dollars in your account.
If you have something crafty to place it in the online world. Then millions of buyers are looking forward to the same
Register on Etsy and sell your crafts online. The most popular marketplace for homemade crafts with its marketing tools making it easy to reach your potential customers.
You can list your items for just $0.20 and pay when you sell. Do check out.
Bonanza voted the best marketplace. It allows you to sell crafts besides other things. It’s free to set up your store.
Hand made at Amazon
Amazon has its own selling program which requires a simple registration. Now you can also sell crafts exclusively made for handmade crafts. Give your business a kick start with handmade at amazon.
Amazon FBA program is the most coveted business module. FBA is for fulfillment by amazon.
The FBA program allows you to store your listed items in the Amazon warehouse. If a customer places an order Amazon will ship the product for you.
You can keep track of your seller dashboard when you like and make sure to goods remain in constant supply. This does require a few bucks to begin with but later can give you tremendous sales.
To any beginner, it is always helpful if they have video guiding to do things. If you happen to be an expert in your field you can definitely monetize it with online courses.
Make a video and sell the course online. Here are some of the best platform which enables you to sell courses online.
9. Buy and sell domains
Being a domain investor can help you make huge returns. How can you start a domain investing business?
People love creative names and companies always hunt names that can match their persona.
Domain investing is a business module where you buy a domain for a low price and sell it at a higher price.
You can buy a domain from any domain service provider for a nominal amount and sell it on a domain marketplace at a huge profit.
Flippa is a popular marketplace that allows you to park your domain name quickly and easily. You price your item at the desired amount when someone requests you to sell you negotiate the amount and sell it at a high margin.
Go to Flippa
10. Website testing
Companies hire people to test websites so that they can analyze the user experience.
With the ever-growing online content, many businesses are coming up with different niches.
Tests focused on its design to evaluate a given product by testing on users.
There are several companies that hire individuals to do the work. The thing you require to do the task.
- Fast internet connection
- computer or laptop
- Good language skills (English)
- Speak loudly
- Remote place
If you have an eloquent voice you can monetize it by working from home.
Mostly it an outside job but there are companies ready to pay you for your voice.
Snaprecordings hires new talent for greetings, message and voice prompt.
Voicebunny is a phenomenal place to get hired for voice over Jobs. To apply one has to follow the 4 steps.
- Account creation
- Test submission
- Get Jobs
The good thing about voice bunny is you can set your own rates and get paid for every recording.
They will send you an email based on your test submitted. So that you don’t have to spend time finding the right job.
Voices is the leading marketplace for voice over jobs. Create your free account on voices and access the jobs daily.
12. Selling printables
You can earn money by selling printables online. Sites like Etsy are a popular choice among digital sellers.
In a much fast-moving world you want to keep everything organized and running. From planning your diet to a travel checklist with so many on the list people need a quick and easy way alternatives to do the work.
Do you have some ideas, projects to help people organize this is where you don’t want to miss the chance?
Things you need to get started spreadsheets, computers, graphics, and PDFCreator. You don’t need to be tech-savvy to do this. Try Canva to make your printables.
A graphic designer with their design can build a stream of passive income. As a freelancer, you can design themes, teach designing online, templates.
You can also make money by placing ads on your car. If you own a car now you can place ads on it in exchange for money.
Wrapify allows you to put ads on your car to earn every month.
You can earn money with stickerRide while you drive.
Carvertise is similar to Wrapify and stickerRide. They simply check the driver’s routine drive based on that they select ads. They put ads on your car and you get paid every month.
Have you ever considered writing an ebook? A short story or a “how-to guide” is very helpful and people always look for something that they can rely on.
If you are good in a particular field you can create an ebook. You will earn every time someone buys and download the book
There are various topics you can write an ebook and publish it on third-party sites amazon.
Amazon Kindle publishing will charge you to publish an ebook but it also has large numbers of readers so increasing the chances of decent sales in the beginning.
16 Sell photos
You can sell photos to earn money. Images are important for every industry selling it on stock photo websites that can earn you for every download.
Image SEO also plays an important role in the Google SERP results. Start taking photos and upload them on stock websites.
There are number of websites that allow you to sell your photos.
17.Rent your space
If you have an extra space to host travelers it can get you money in exchange.
Signup with AIRBNB and register your vacant room, apartment or house. AIRBNB allows you to host travells for that they pay to the owner making things super cool and easy.
You can set your own rules your price and how you interact with the host. Go start your listing on AIRBNB.
Get a refund when the price drops. This is an amazing app that monitors price drops.
Just signup with your new email account on your mobile device and let Paribus do the work.
When you make a purchase they will receive an email if there is any drop in the price of things you bought you get a refund.
Go to Paribus
Ebates formerly Rakuten is a cashback site. You can save money if you make a purchase through their website.
You can add it to the Chrome extension that allows you to add a site on the browser toolbar. It will track your purchase and will tell you how much you can save on that purchase.
They also have a referral program that pays you every time someone joins Ebates through your affiliate link.
20.Rent your parking space
The increasing urban conglomeration and the shrinking space this has not just made resources less for humans but also for the things used by us humans.
Many of us struggle to find a parking space but if you can allow someone to park in your vacant space that can be turned into a passive income.
If you have a vacant spot you can use spot hero to monetize your space. With easy three steps, you can begin to earn with spot hero. Complete the form connect with the drivers and get paid.
Let your account add up with pounds every year. Justpark has made it easy to find parking space. Go and list your space for free select the right time to park vehicles and meet the drivers and get paid.
Ready to make money from your parking spaces well then parkonmydrive has heard you. They charge you 20 pounds per year to use the platform.
20 Passive income ideas 2020
These are the best 20 Passive income ideas you can start from now and in the coming year 2020. I have also written several posts to make money to equip you in the best possible way to earn.
There are few things to consider in mind before you begin with the sources mentioned above is to have a clear picture in mind about what you will do.
Don’t forget to comment and share which one is your best
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