Contribution from freelance writer Jess Walter
Money for nothing; the Holy Grail. While it may be true that you can’t make money out of thin air, passive income streams are the next best thing. After the initial setup, the earnings will pour in for the foreseeable future; some people earn thousands of dollars per month just by adding advertisements to their blogs. If you’ve got an interest or hobby, chances are there’s an opportunity to turn that pursuit you would have been following anyway into cold hard cash. Passive income doesn’t need to be a drag! You can easily set yourself up to receive streams of money every month using technology you already own; no major investments required.
For The Developers
If you are viewing this article on a PC, then you already have the tool you need to start generating income steadily. Websites famously make most of their money from advertising, meaning you don’t require a service to sell. Simply choose a subject that interests you and sell advertising space on it, earning you money for every view. Once you’ve set it up, the site will continue to make money for as long as it remains accessible, even if no new content is posted for years at a time. Ideally, you would choose a relatively niche subject which is not constantly posted about to draw a large audience; on a platform as large as the internet, people who share your interests will find you, no matter how narrow your focus! If apps are more your thing and you have an inclination to create your own, they can prove very lucrative indeed; some apps generate upwards of a million dollars a day.
For The Artists
Artists of all kinds find a home on the internet, and even better, they’re getting paid for it. Got a camera? It may as well be a piggybank, as stock photo companies will host your photos and videos, paying you every time they’re used. This is a fantastic way of turning a hobby you’d indulge in anyway into a constant stream of revenue. If you’re more of a digital graphics artist, have no fear, companies like Redbubble will host your designs and sell them on all kinds of products. You’ll earn a cut of the sales every month, meaning you can set up a portfolio and let the customers find you. Even those among you who are not graphically talented can upload popular slogans in an attractive font and still end up with a pleasing t-shirt; All you need is a little imagination. Finally, if you’re more of a sonic craftsman than a visual one, worry not, as Bandcamp will host your music free of charge. You can sell digital music, physical music and even band merchandise on their platform, while you make the money. If you’re already a musician, and you’re not uploading your songs to a platform that pays you for doing it, you’re missing out on a whole new way to make money.
For The Entrepreneurs
If you’re more interested in tangible goods then don’t walk away just yet; your PC can still open a gateway to sales. The Fulfillment By Amazon program offers a proposition as yet unheard of in the non-digital marketplace; An established, well-renowned store will take your products and literally do the selling for you. In effect this means that once you provide the supplies to Amazon, you can forget about them until you receive your payments when they’ve worked their magic and sold the items for you. This is a marketplace that will work at a scale that suits you, absolutely allowing you to either stay small and supplement your existing income, or expand as far as you like as a seller to a point where it is your primary income. Either way, once the product is out of your hands you don’t have to lift a finger. Who doesn’t want to wake up with a wallet fatter than the one they went to sleep with?
Jess Walter is a freelance writer and mother. She loves the freedom that comes with freelance life and the additional time it means she gets to spend with her family and pets.