Market Mongoose is an Independent Online Resource for all your Stock Market Queries, Learning, And Lessons that helps you make Better Decisions.
Thanks for visiting Market Mongoose.
So, it all starts with a need when all of us reach a point where we need some extra money to fill some happiness in our life but there is no way, that gives that money quickly. As a student, you also do not have more time to configure your work properly so that you can make some extra bucks out of that, and that’s a very frustrating moment when you have the ability but because of lack of time, you can’t go with it anymore.
And, here we all realize that we need a regular source of income that generates money on behalf of our presentation.
So, moving further to our List of best Passive Income ideas, first let me talk about…
Passive income is a type of income source from where you get money continuously without being actively involved in it. This means it doesn’t require you to invest your time on a daily basis to make money, rather than it needs some upfront work to generate seamless money on a regular basis.
But, there are some synonyms that clear this point very beautifully and the most popular one is “Make money while you sleep”. But it is not a GET RICH QUICK scheme because it requires your effort, Time, Money, and dedication. And as a student, you are the powerhouse of all these things and this is the best thing that should be proud of (but for Time and Money, you can manage it).
Many of you are like… It doesn’t make sense, but there are a lot of ways you can generate passive income, and yeah I won’t lie, it requires some upfront work and money to create such an income stream but along the way, it also requires some additional work in order to keep the money flowing.
And if you are committed to this, then definitely it will be a life-changing experience, and also it will change your view about making money.
So, Let’s dive into it…,
Looking at the stock market seems very confusing for the first time but believe me this is the best way to build long-lasting wealth. If you ever searched the list of richest people or just looked at someone’s portfolio who is damn rich you might notice the word “Stocks, or Investment” and this is what makes them super Rich.
Investment is not a short-term match because if you wanna book a crazy profit from it you need to play a long game to reach your financial goals. But for you, I bet that it not gonna work that way but still you can make a passive income stream from investment, and if you are just starting out you need to invest a good amount of money in it, to pull something out from here.
As a student, money is the top barrier for you, So I suggest you invest in Dividend Stocks.
Dividend Stocks are the stocks of those companies that regularly share some portion of their profit with their Shareholders. But very first, you need to own those companies’ stocks to get the dividend amount and it is paid per share of stock means the more stocks you own the more dividend you will be paid.
But here is the tricky part you need to know if you invested in that company that somehow goes out of business entirely then the total risk is upon you. So selecting the right one is the tricky part, and if you are final about investing in dividend stock then read the FAQs below for getting started.
Starting investing in stocks for dividends can be a great opportunity for you if you wanna build wealth, but choosing the right one is difficult, but it’s totally upon you and your approach to looking at that company. If you personally wanna buy those stocks then you need to first examine the right stocks and then buy them one by one.
But if you looking for a diversified and safest way then Index funds and exchange-traded funds (ETFs) can be great options. Basically, ETFs or index funds offer an investor to buy stocks of a group of (high dividend yield) companies in a single investment. This means you need to do a single transaction and now you have a portfolio of companies from which you get dividends on a regular basis.
To start investing in high-yield dividend stocks,
Don’t forget that you have to make Passive income, so you need to stay focused and calm to make money from stocks. For making a consistent money flow from your investment you need to follow these three steps.
Investment is right or wrong for anyone depends on many factors like, You are capable of investing some money in the beginning, You are able to hold that money for a long period of time, You are in the fear of losing some money or not, and also if you are an excuse maker or a game-changer. Like if you are waiting for the market to drop, then move your bed from here.
Now look, if you have a sufficient amount of money to invest and the courage to hold it for the long term then the investment is the world’s best way of making money without doing anything, just you have to find the right stocks to invest in. If you are not afraid of losing some money then it might possible that you are the next Billionaire. So, it’s totally upon you whether this field is Right for you or Not.
First of all, there is no need to brag about youtube, because you already know about its craze among people. So moving straight to the point,
First, let’s ask yourself if you have any skills, knowledge, or are passionate about anything you know well such as cooking, traveling, gaming, dancing, crafting, teaching, or anything else (but people may be looking for that too) then you can create a sustainable income source by sharing that skill in the form of Youtube videos.
By the way, this is one of the simplest things to do on the internet, only it needs a Google Account and you are all set. But if you are an absolute beginner then read this massive guide about creating a Youtube channel (also included how to create channel art, Banners, and also Creating Channel Icon) on Buffer.
All the way if you have done all the basic stuff then note these key points to make your videos stand out from others. But before all these basic stuff you must have some pre-basic stuff like a Camera, Microphone, Lights, Video Editing Software, and some handy Optimization tools.
Need a more detailed guide about growing your Youtube channel and making your videos stand out from others, then read this guide.
Everything we have discussed above falls in front of money. But before we move to make money from youtube, let me tell you a fact. “Some of the top YouTubers make around 30 million dollars a year”, and this number keeps growing.
Let’s talk about earning money from youtube, and you must know that there is something called an advertisement by which a Youtuber earns money, but you are not all true. So let me explain to you some popular and preferred ways of earning money from youtube. But only a few of them are sources of passive income.
If you are not sure about starting a youtube channel or have a ton of questions in your mind like is it works or not, will people love my content or not, am I a perfect tutor or not, or maybe like, are people really searching about what I am going to share?
Then First thing you need to do is keep calm and think of those people who are making millions on youtube, then look yourself in the mirror and ask yourself why am I going to do this shit? If you got the right answer then go ahead and burn all your shyness down and start recording your video.
Finally, if you are not sure about your topic of interest then search for the same topic on youtube, if you gotta a huge list of videos with lots of views then it’s worth going after. But make sure your content should be unique from others to stand out in this list of hundreds of results.
After doing all this shit many of you fail in getting views and making money out of this and here is the reason WHY?
You are not on the right track, and all your hard work is in the vein until you are not on the right track. Means, find your passion, if you love playing with pets then teach people “How to express your love to your Dog?” Stop copying people, just because he is making money in that particular field means you do. Things did not work like that. So Find your interest and share your love with your Audience.
Nowadays online courses are the go-to way for many students for learning new skills or completing their studies, and as the world welcomes more and more new technologies (such as VR), E-learning is also going to be more popular among students. And because of its convenience, In this digital world, everything you can learn online whether it’s cooking, a new language, or a Physics lesson.
But for many creative people, this is another popular way of making passive income and there is a reason why? “The global E-learning market is expected to reach $457.8 billion by 2026.” And Yeah you can also take benefit from this rising era of E-learning if you have the right skill or knowledge to share. And as a student, you can sell your own learnings in form of courses via some popular Online platforms like Udemy, and SkillShare. You just need to create a course and try to sell it to the right audience whether it’s in Video, Text, or Audio format (but the video is the most preferred way).
Yeah, this is the tricky part, but the good part is you can easily create your course in just a few tweaks if you have sufficient knowledge and the right tools. So get to the point.
After this all, if you are tired of step by step process to create an online course, then visit Thinkific for more details.
Making money from an online course is not easy at all in the beginning, because you are very new in the market and people might get worried about purchasing your course because they are not familiar with your teaching style or might not sure about your teaching skill and experience.
So for making the most out of your first course just do some simple tricks to make people buy your course.
Making an online course is right for you or not depends on various things, like are you comfortable in front of the camera, have the proper knowledge and teaching skill, or something like do you really enjoy teaching?
But very first you have to ask those questions yourself and if the answer is positive then you are fully eligible from your side. You just have to seek out the right equipment, resources, and mentorship and you are all set and ready to create your first course.
Ebooks are one of the best ways to express your undefined knowledge and experience with the whole world in your own words.
But as a writer eBooks are a tremendous source of regular income just for sharing your thoughts and believe me, it is far better than traditional physical print books, because no matter what you are doing, it is always with you, and if not then it can be downloaded and ready to be read in a minute or two from anywhere in the world.
This might be an easy task for some people who have some great stories and past experiences to share, but it can be a bit challenging for complete new thinkers, but it is one of the best ways to make passive income.
All you need to do is put in some good work and effort, and you are ready to earn passive income for months, years, and even decades to come.
Writing Ebooks is somehow difficult in the very beginning but this can be life-changing. Before you start writing you need to have the right skill to write a perfect mixture of entertainment and learning. But if you are not sure about your efficiency, and skill you can also outsource it to Ghostwriters. These are the specialized writers who write for other people. You just need to provide a brief note about your topic and sometimes you need to stand with them till it completes.
But if you wanna write on your own which is what most people do, then you can follow these simple steps for Silent Success.
Making money from an Ebook is damn simple, you just need to sell more and more ebooks So that you can earn more and more profit. But some points work better in getting your ebook in front of people. So you can sell more ebooks and more sales mean more profit.
This is a surprising question but let me answer. If you love writing on a large scale and you have the knowledge to share then this is for you.
More than that if you love sharing your thoughts then eBooks are a good idea to get in front of a large audience worldwide. But figuring out your success at writing and selling eBooks is the key.
Whether you are a professional photographer or not you can sell your taken photos online via differnt stock websites at a quite high price.
If you somehow or anyway enjoy clicking photos then, this special habit can bring you thousands of dollars every month on a regular basis or you can say it can make passive income for you. And you also don’t need fancy equipment for this.
But if you are not sure about who is going to buy your photos then believe me there are people, bloggers, organizations, companies, and many media houses who are willing to pay hundreds of dollars for every single photo on a regular basis and you can take benefit of this with your unrelated photography skills.
To start selling photos online you don’t need to have heavy tools to go with. Just signup with stock images websites and start selling. It is That Simple!
So for signing up with the Stock websites you need to know some best stock websites to go with so you can sell images at a good price and reach a wider audience. And for this, I suggest trying out all these places including Alamy, 500px, Adobe Stock, Shutterstock, Etsy, iStock Photo, Getty Images, Dreamstime, 123rf, Deposit Photos, and Stocksy, because these are some of the most popular sites to sell photos as compared to others.
So start with any one of these and complete the SignUp process. Once you signup then you can start uploading photos. As soon as you submit your photo it will be checked by their team members for quality check and once it got accepted your photo will be added to their library and live for sale.
There are a ton of ways of making money from photos but the easiest and the best source of making passive income through your photos is Selling them on Stock Websites because on that place you can sell your photos over and over again and make really good money. And the best part is you do not need to set up your own Website for selling photos, and these sites already have millions of potential buyers.
And if you wanna get the most out of your photos, then signup on all the above-mentioned stock websites and list your photos there, and doing this you are increasing your chance to get in front of more and more buyers so that you can sell more photos and this means more money, and once you gain some popularity then you can also offer some special photoshoot or other similar services and charge thousands of dollars.
Keep your Photo’s Quality at the best level and use relevant keywords and tags in your photos when uploading so they can appear in the search when someone searches the relevant text.
Getting the Answer to this question is not difficult because it is directly connected to our feelings, which means everyone loves clicking photos (exceptions are not counted here) but they are not able to execute it so that it generates money for them.
And, you have seen that selling photos is not tricky, you just have to signup on stock websites and publish photos to their marketplace, and the rest of the things are automatic. But you have the proper knowledge of why, what, and how of clicking and selling photos.
So, now it’s your turn, to change your simple habit into a passive income source.
If you have the money just dumped in your drawer or in a regular brick and mortar bank, then it’s totally useless, and utilizing that unused money can give you a nice return over time.
So, you just have to invest that money in either a high Yield Saving account or high-yield CDs.
Firstly talk about high Yield Savings accounts, These Savings accounts offer a much higher interest rate than traditional banks, and they can be 20 to 25 times higher. You just simply need to open an account with these online banks and put in your money to earn interest.
Let’s talk about high-yield CDs, It also offers much higher interest compared to traditional banks, but in this case, you need to put your money in your account for a set period of time, like a year or two, and after that time completes you can book your interests or roll into a new CD. And the best part is you can lock in the interest for your set period of time, even if the market fall or rise your interest rate is the same until your CD matures.
But the key here is you can not just withdraw your money whenever you need it until the term completes, and if you do so, you have to pay an early withdrawal penalty based on the banks.
If you wanna save more money or earn a regular income from your money or wanna save money for vacations, then putting your extra money in a high-yield saving is the best option without any risk and opening an account in these online banks are also very easy.
Just follow these steps.
And for opening a new Certificate of Deposits (CD) the process is going to be the same as opening a new high-yield saving account. But in the case of CDs, you have to choose the term of your CD, and all the process is the same as above.
This is an automatic process in the case of online banking because you just need to choose the best bank and open an account and after funding that account you are all set. you just need to wait and collect your interest on a yearly basis.
But in the case of CDs, this is different because you have to make smart moves for more benefits like you can lock in your interest rate even when the rates drop. But you can take more benefit from CDs after building a CD ladder. For the CD ladder, you will need to open multiple CDs with each maturing at a regular interval. For example, if you open a CD each month in a year for one year, then you don’t need to wait a year or two as your term to access your money.
Opening a new high-yield saving account or a CD depend upon your pocket, whether you have enough money to invest for a long period of time. Because a saving account doesn’t make you rich in a year, you have to wait for a long time to make a good passive income.
So, it’s totally upon you, your money, and how you treat your money.
It is one of the best ways to earn passive income out there. No matter what type of work or business you are doing you can make money with affiliate marketing, just by adding the affiliate link to your YouTube videos, sharing on telegram, adding them on your website, or just sharing links through your social media handles. Whenever anyone follows those links and makes a purchase, you will get a commission.
You just need to do some research to find out the right companies that match your intentions and the needs of your audience. Like if you have a cooking-related audience then you might have to find companies that sell kitchen equipment.
But, the key here is you need to invest your time and dedication to attract potential readers that might be going to purchase that product. This is not a one-day success, because if you succeed you’re gonna reap the potential income for years to come.
Starting Affiliate marketing is simple but first, you need to choose the platform to go with like Social Media, Your own website, Youtube, Facebook, or any own. Apart from this, there are some important steps you need to follow to start the right way.
Making money through affiliate marketing is like a one-way path, which means you can only make money with affiliate marketing when somebody purchases a product from your affiliate link, and that’s it. There is no other magical way you can make money with affiliate marketing.
But, there are some strategies through which you can sell more which finally leads to more affiliate income.
Affiliate marketing works in quite a simple way, just add the affiliate link to your blog or any other platform and let people buy from your affiliate link, but it does not work if you don’t have the audience. This means, ultimately you need people who are going to purchase what you are promoting from your affiliate links, and if you have no followings then move ahead this is not for you.
And even if you wanna do it anyway then firstly you have to build a strong audience base, then go after affiliate marketing, because if you have no audience means no sale leads to failure. So take time and then turn your work into profit.
Dropshipping is almost similar to having an online store but instead of selling your own product you need to sell other products. In simple, you are just promoting other companies’ products for a small commission out of the profit. And this commission is based on the number of sales, the higher the sale you make, the more the profit you earn.
Dropshipping is the easiest way to cut out your expenses and make passive income because it is very easy to set up. You just need to start an online store and list the products from the marketplace like Oberlo or Amazon.
The best part of dropshipping is you can control everything from the store design to the product pricing, and of course, you can sell to the whole world.
Starting a Dropshipping business might seem confusing but it’s not that confusing, you can set up your store in under an hour and start selling, but taking dropshipping to the next level so you can make more and more profit takes time and need to perform some strategy for better results.
Making money with dropshipping is not any rocket science, you just need to bring in more and more customers to your store so that you can sell more products and ultimately more profits.
But bringing customers to your store is somehow difficult for beginners. but you can implement some tweaks to bring the most out of a customer.
Remember, if you wanna sell anything you need to first grow your audience base and then start simplifying your objective. Dropshipping is what needs the audience to build wealth because ultimately they are going to purchase products from your store.
So making passive income from Dropshipping and bringing the audience to your store requires a lot of things like time, hard work, patience, some money, and the right skill, and if you are ready to donate all these to your ideas then, Good Luck.
If you are a designer or love creating designs then you are lucky enough to make passive income from your skill and expertise without investing lots of money.
Creating and selling designs online is not rocket science and because of growing digital awareness among people, this becomes a lot easier than ever before.
No matter what are you designing you can make money by selling those design works online via various platforms and because of these extremely popular marketplaces, you can reach a wider audience with very little effort.
Graphic design is a vast field and starting your career in this is not easy at all. But you can start selling designs online because of various new marketplaces. But all your success depends upon your expertise and hard work, you have the right knowledge and passion to create extraordinary designs so that it attracts more and more people.
There are a lot of ways you can start with like Mockups, Landing Pages, Fonts, Icons, Vector images, Illustrations, Logos, Billboards, and many more.
For Creating Extraordinary designs you need to have some good knowledge of some New Age Software like Adobe Illustrator, and Photoshop and you also need to know the principle of designing like Colors and Typefaces.
There are many places where you can sell your work and of course, there are also people willing to pay for a design. You only need to find the right place so that you can easily sell your creativity.
No matter what you create (logos, arts, illustrations, or anything else) there are enough potential buyers who are willing to pay for that design. You just need to make the right approach to reach that audience.
Here is a list of some best places to sell your design online.
Graphic designing is for those people who somehow have some knowledge of colors, typography, artworks, and some more like that and you can join this field too but you have to set a connection between Technology, Communication, and Art.
Graphic design is a need of almost every working online industry and you can take benefit from this by being more Creative because a design should be unique and uniqueness comes from creativity and if you are so then you may be the next David Carson.
Did you know Cristiano Ronaldo charges more than $1.5 million and Kylie Jenner charges almost $1 million for a single Instagram post?
Instagram is one of the most popular social media platforms out there and surprisingly it has almost 2 billion monthly active users, and this is a huge number that’s why almost every brand tries to promote their product on Instagram and this is the reason why everyone wants to become an Instagram influencer.
And for being a successful influencer you don’t need to have millions of followers, if you only have a few thousand and an engaged audience then brands are ready to work with you, and you can charge based on the number of posts.
But becoming an Instagram influencer isn’t easy and there is no secret to gaining real followers and engagement on your Instagram account you need to work hard to raise the eye, and once you have a decent amount of followers then you can start earning a good amount of money on a regular basis.
Growing an Instagram account is neither an easy task nor a more difficult task but if you are looking for making passive income from Instagram then you have to work smartly and need to follow some rules to keep your audience engaged.
Becoming an Instagram influencer is somehow difficult and time taking but making money being an Instagram influencer is a left-handed game as soon as you have gained a number of followers.
This could be your next passive income source until you know the different ways of making money as an influencer.
There are lots of other ways you can make money from Instagram but these are the most popular and go-to ways for many influencers to make consistent money.
Instagram is huge, and already there are millions of influencers on Instagram promoting others in various ways, and yeah they are earning a good amount of money. So what are you waiting for? If you have read the above part then you might learn how to become an Instagram influencer and various ways of making money from it.
Leaving all these metrics aside you need followers to attract brands and make money and if you are a regular Instagram user and have a decent amount of followers like One or Two thousand you can start earning from doing brand promotions.
Above are the top 10 best ways to make passive income for students and there are no limits that how much you can make with these because as you saw that there are various other ways to generate money from any of these ideas.
But when it comes to making money, especially building a passive income getting more creative can help a lot means you don’t have to stick with just what’s going on, you need to seek new ways to make more and more so that it can support your finances.
How much you can earn from these ideas depends on how you treat your idea but for an estimate, if you make youtube videos, then you can make an average of $18 per 1000 views. If you are doing Affiliate marketing then you can roughly make around $40,000 a year in the beginning. And if you got Dropshipping and doing good work then you can earn an average of $2500 per month.
Looking at the above list Nothing seems to be more difficult and nothing seems to be easier. So you can sort them on the basis of what you have to go after that quickly.
If you are still struggling then read below,
Talking about the best way to make passive income doesn’t make sense because Things are not going to work the same and all of us have unique abilities and skills. For example, some of you might be interested in writing then writing eBooks is the best option for them.
But still, if you are not satisfied with this then in my way Investing in Stocks is the best option on the list because there is no limitation on how much you can make.
Of course, there are some ideas that can be implemented without investing money,
Subscribe now to get cutting-edge information about the Indian Stock Market