Last Updated on December 26, 2023 by Kundan Sharma
If you want to earn while sleeping like most people want these days and don’t want to be stuck with a 9 to 5 job.
Then in this post, I have listed some best ways you can build your passive income stream from anywhere.
I have also started my blog because I was looking for a passive income and freedom of work.
What is passive income?
Passive income differs from the earned income
Passive income generally defined as a stream of income earned with little effort.
For example, passive income includes rental income and any business activities where earner does not take participate.
17 Passive Income Ideas to Make Money in 2024
There are lots of ways to earn Passive income over online and offline businesses too. Below, I have listed some real methods that work and help you to make passive income.
1. Open a High-yield Saving account
Earning interest on your savings is a slow-lane millionaire but it’s a safe way to invest.
You can open high-yield savings accounts that pay way more interest than your average savings account.
If you invest a little bit regularly will get you that much closer to your financial goals. On the other hand, you will not get a better result with your savings account.
2. Start a Blog
These days blogging is way more popular than ever before.
If you like to write or have knowledge of something which you can share with the people.
Then you can start a blog to earn Passive income from anywhere in the world.
You don’t need to be a great writer to write a blog an average like me can do this.
There are lots of ways to make money from a blog such as Ads, Affiliate Marketing, Sponsorship post, Sell Courses, and many more.
You just need a domain name and hosting space to start a self-hosted blog on a platform like WordPress.
Read Also: 7 Steps to Start a Blog and Make Money Online (Complete Guide)
3. Peer-to-peer lending
Peer-to-peer lending is when you loan to other people who don’t qualify for traditional finance like a bank loan.
It’s a high-risk way to on passive income in the form of interest every month.
If you are looking for a low risk then check out worthy where you can put your money for the loan.
The best thing about worthy is that your money will be a form of liquid so you can take it out at any time.
4. Affiliate Marketing
If you have a site then you must know about affiliate marketing.
If you don’t then, it’s a way to earn commission on selling other products through your referral link.
You only have to promote products through your website when someone purchases from your affiliate link you will get the commission.
There are people like Pat Flynn from Smart Passive Income making more than $50,000 every month from his blog.
If you don’t have a blog then you can start one with just $3.95/Mo which is the price of hosting where your site host.
You can join some good affiliate programs like Amazon associate, ShareASale, Click Bank, Commission Junction and etc.
Affiliate marketing is one of the best ways to earn Passive income from a home.
5. Invest in Stock
If you want to compound your money by the fast lane method with having some risk then stock making is for you.
It’s a little risky way to earn Passive income from your investment.
Although, returns are also high.
If you have knowledge in stock marketing or have the ability to study and choose the right stocks to invest then I recommend you to this.
If you are interested in investing and want to learn more about it then I highly suggest you read the book ” The Intelligent Investor” is an all-time best-selling investment book. You must have read this book.
6. Become a Seller on Amazon
As you know most people shop on Amazon.
Maybe you are one of them.
It is the world’s biggest eCommerce website.
You can also sell your products on Amazon and let Amazon ship products for you.
There are lots of people running a successful business as a seller on Amazon and making more than thousands of dollars every month.
7. Start an eCommerce Dropshipping
Nowadays eCommerce Dropshipping has become so popular.
You need to create an online store that sells products from certain manufacturers.
When someone visits your site and orders a product then your system sends the order to the manufacturer.
Then the manufacturer completes the order by shipping it to the customer.
The best thing about this business is you don’t need to manage any inventory you only get the profit on selling products from an online store.
If you want to start a dropshipping business then you can use a platform like Shopify. Which is mostly used in the Dropshipping industry.
8. Invest in Mutual Fund
If you want to earn a handsome interest in your investment and also want to play safe then the mutual fund is for you.
It is the best alternative to the stock market where you can invest your money. Mutual fund companies take care of your money and invest in different stocks and companies on their expert opinion.
A mutual fund is the best for people who don’t want to learn about investing and take the risk themselves.
Mutual funds help you to earn 12 to 17 percent of annual interest on your investment.
9. Rental Income
Rental income is one of the best and safest passive income streams.
If you have any property which you are not using.
You can let out your property on a monthly basis which drives passive income in your monthly income.
Most people invest their savings to accrue real estate and earn rental income.
10. Rent out a Room
Do you want to earn some extra income from your rooms which you rarely used?
You can rent out to someone who is looking for a short-term rental through Airbnb.
Thousands of people use Airbnb to find a place to stay inserted of staying at a hotel. This is the best way to earn monthly more than $500 to $1000 every month.
11. Create an App
These days mobile applications have become more popular than ever before.
Nowadays almost every work is done by the application.
If you are a little techie and have a unique idea for mobile apps that makes people’s lives better.
So you have a chance to earn Passive income.
There are people making thousands of dollars per month with a mobile app.
The best thing is nowadays app development cheaper than ever you can build an app even with less investment.
12. Start a YouTube Channel
Do you know that YouTube is the second largest search engine in the world after Google?
Everyday person like me and you watch videos on YouTube. When we watch videos on YouTube ads appear on the screen which helps channel owners to make money. The main source of income on YouTube comes from advertising.
You can also start a YouTube channel on a particular topic and niche you like. The things you need to get successful on YouTube are subscribers and views.
There have been so many people who became millionaires through YouTube.
13. Create an Online Course
Online courses are one of the best ways to earn money online, you need to create a valuable online course that helps & solves the problem.
The course can be a form of Video, Ebook, Email, and Podcast.
It’s a good way to earn Passive income from one-time money and time investment at the time of the build course.
You can sell your online course through your website or blog and automate them easily with email marketing and other automation tools so you don’t need to manage manually anything.
If you don’t have a website then you can sell it on Udemy it’s a popular course-selling website.
14. Sell Photos Online
Are you good with the camera?
If yes, then you can make a passive income from this talent. You can join various stock photos websites and license your photos to get paid.
when more people download your photos you get loyalty.
Which helps you to earn long-term passive income from your uploaded pictures.
There are so many good stock photos on the website you can join such as Shutterstock, Unsplash, istockphoto, and many more.
15. Join Survey Apps
If you want to earn some extra income in your free time then you should need to join survey apps.
This helps you to earn money by taking part in the survey, watching videos, internet research, and cashback at shopping.
Swagbucks is one of the best apps to earn some extra money instead of wasting time watching tv, movies, and web series.
Swagbucks gives you $5 as a bonus when you first-time signup.
You can save money while shopping and get cashback when you shop through this app.
They have a referral program so you will able to earn points when you refer your friends and also get some part of their income.
16. Write an ebook
As you know ebooks are popular these days that’s why a store like Amazon Kindle is so popular. If you like to write books then you can create an ebook and sell it on Amazon kindly.
Which helps you to earn Passive income from your one-time investment.
17. Rent Your Stuff
It’s a completely passive income to earn money using your assets that you already have.
For example, you can list your empty room on Airbnb or list your car for rent on a platform like Turo.
You can also rent your small household things which you really used like cameras, CDs, Furniture etc.
Bottom line
If you want to earn passive income and earn money while sleeping, then we have listed some good ways in this post which help you to achieve your desired goal.
Passive income is really the best way to earn and live a peaceful life. You can do things like start a blog, invest in stocks, peer-to-peer lending, Rental income, and more.
It totally depends on you which method you want to use to earn money while sleeping.
I hope this post helped find passive income ideas. if you have any questions, please comment below.
