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7 Passive Income Ideas with Little Money | How To Make Passive Income with Low Income - YouTube
Channel: Betterment Boss
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Have you ever wanted to make passive
income but you felt like you didn't have
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the money it took to get started well in
this video I'll share with you 7 passive
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income ideas that take little money to
get started and if you're new to the
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channel then hit that subscribe button
below for more life-changing content
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idea number one leverage high interest
bank accounts if you have money laying
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around in the bank and have never really
thought twice about it then more likely
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than not you were not maximizing the
returns on these funds while using bank
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accounts to make passive income won't
make you rich overnight sorry about that
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moving your money into higher yielding
accounts can help your money grow at a
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faster rate than you've normally been
experiencing and you know what the best
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part is is that most banks don't require
a minimum balance meaning that even if
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you don't have much money to your name
you can start to gain a little bit of
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extra interest on the money you do have
you see as of 2019 the average savings
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account interest rate was a measly 0.09
percent well what a lot of people don't
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know is that there are a number of
better options available for instance if
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you're looking for a low risk high
interest earning cash account Betterman
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every day currently offers a two point
four four percent APY which is more than
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27 times the average and this account is
fee free meaning that the difference in
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interest you earn is yours to keep now
you're probably thinking how much of a
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difference will this make on a yearly
basis well if you had $500 in a standard
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of savings account earning just 0.09
percent annually you would earn just 4
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cents a year a measly four cents however
in the high interest bank account
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earning at two point four four percent
annually would leave you with twelve
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dollars and voila we'll admit this is
nothing to get too excited about it
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takes next to no effort and will only
compound as you contribute more into the
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account idea number two start a blog if
you're a good writer or even a mediocre
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one starting a blog can be an excellent
way to make passive income while
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starting up a blog does take a good
amount of work upfront once you have
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your content online and it starts to
gain traction within the Google search
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engine you'll be making money whether
you continue to publish content or not
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so you may be wondering how does the
Blagh even make money well let me
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explain as your ball gets views ie
traffic readers will interact with your
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site this can be by following your
affiliate links and buying products you
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recommend purchasing courses you build
or just helping you make money using
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Google Adsense one thing to note about
this method of making passive income is
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that it takes quite a bit of effort
especially in the beginning this is
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because in order to gain traction on
your site you will need to research
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write and market your content but like I
said after the content and is live it
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will make you money month after month
and one of the big upsides of starting a
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blog is a low startup costs all you
really need is the domain and web
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hosting which can be very affordable
it's like like GoDaddy offer domains for
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as little as $2.99 for your first year
and it's less than $30 for two years
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which is plenty of time for your site to
start making you passive income when it
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comes to web hosting this is also
relatively inexpensive you can get web
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hosting from Hostgator for less than $4
a month which is actually under $50 a
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year maybe that's starting to make
passive income could be yours for
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roughly $50 annually idea number 3 sell
an ebook if you like the idea of writing
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but don't want to deal with the
technical headache they can come with
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blogging consider self publishing your
own ebook ebooks are often much sorted
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in the normal books which puts a less of
a burden on you to produce a masterpiece
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what's even better is how cost effective
this method of making passive income can
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be if you have a computer then you're in
a good position as all you need to
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publish your ebook is your word document
containing your text and a cover image
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now you can insource all of the writing
editing and graphics yourself but if you
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want to spruce up your book getting
professional help can be very affordable
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for instance you can get a professional
book cover on Fiverr for just $5 and
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proofreading can also be contracted out
for cheap meaning that for around $50
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you can build an asset that can make you
money in perpetuity so let's say you
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want to try out this ebook business well
Amazon Kindle direct publishing is
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probably the easiest platform to get
started on Publishing takes just a few
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minutes and most ebooks appear on Kindle
stores worldwide within one to two days
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with Amazon KDP you can earn up to 70%
royalties on each sale to customers in
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most countries and you could say your
own prices
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and make changes to your book at anytime
idea number four sell an online course
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in the 21st century information is the
most valuable asset and one of the best
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ways to take advantage of the
information age is through the sale of
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digital products like online courses now
you may be thinking I have no idea what
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I could create a course about and don't
worry that's normal
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the good news is that there is a market
for just about any information product
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online from courses on web development
to productivity and even journaling
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chances are you are skilled in multiple
areas of which at least one of them can
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be used to create a value packed course
what's better is that the cost of
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creating an online course is quite low
most courses consist of either audio in
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a slideshow or a video of the course
creator which can be manufactured using
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your smartphone meaning that you really
don't have to invest any money to start
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leveraging this passive income method
additionally selling your courses can be
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cost effective too as multiple platforms
exist where you can host your course for
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free and receive a percentage of the
profits when you make a sale for
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instance if you host your course on
udemy any sale you make using the site's
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organic traffic will have you receiving
50% of the courses cost and if you can
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generate your own sales you'll net 97%
of the purchase price therefore with
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your current knowledge and a computer
and a smartphone you could be making
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passive income in no time
idea number five start an ad agency
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think about how many small businesses
are in your city chances are most of
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them are not effectively using social
media to attract more clients or drive
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more sales to their business most will
have a regular Facebook page but that's
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not enough to spread the word in today's
crowded newsfeed that's where you can
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come in as a Facebook ad agency owner
one of the best parts about this
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business model is that once you have a
client's advertising campaign set up and
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running smoothly there's very little
ongoing work needed on your end
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outside of checking in for a few minutes
each day it is a relatively hands-off
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business model so I'm still consider it
to be quite passive after everything is
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initially set up you can be an agency of
one person or you can choose to expand
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as they start to serve more clients even
with very little experience learning the
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art and skill of Facebook ads is doable
and can be variant
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there were numerous beginner and
intermediate level tutorials on YouTube
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and even on sites like you to me you can
find Facebook marketing courses for as
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little as 15 bucks
you see offering services like Facebook
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marketing is beneficial because you were
trading experience for dollars which
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typically involves less capital upfront
then opening up a brick-and-mortar store
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or creating a physical product so how
much can a facebook agency earn you it
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is quite common for Facebook specialists
to charge anywhere from a few hundred to
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a few thousand dollars a month per
client which is why it is one of my
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favorite passive income ideas idea
number six created an online store with
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the explosion of e-commerce comes the
opportunity to create a positive income
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stream used in an online store in
particular drop shipping has become very
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popular and if you're unfamiliar with it
here's how it works you create an online
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store that offers products from certain
manufacturers a person visits your site
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and orders a product and then your
system sends the order to the specific
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manufacturer the manufacturer then
completes the order by shipping it
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directly to the customer at which point
you collect the profits one of the cool
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things about this type of business is
that you do not need to order inventory
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meaning a much lower initial cost making
it perfect if you have little money to
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start with
moreover setting up your shop can be
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inexpensive as well many drop shippers
set up their stories in Shopify which
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charges just $30 a month which is much
cheaper than the thousands of dollars
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who would cost to open up a brick and
mortar shop in your city in short once
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you have your store set up the rest can
be completely automated meaning that
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you'll be earning income no matter what
you're doing idea number seven start a
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youtube channel every day regular people
like you and me are making money on
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YouTube well you may use YouTube to pass
the time or learn something new for many
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people YouTube is how they earn their
living and much of this income comes in
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a passive form you see every time
someone watches one of your videos ads
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can appear and you can make money from
those odds alternatively your viewers
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can also buy your courses or affiliate
products making you money without any
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extra effort on your end after the video
is released now the reality is that
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running a YouTube channel is anything
but possum in nature as build
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audience takes consistent work and video
output but once it videos released it
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acts as a digital asset accruing you add
revenue and hopefully sales over time
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but let's say you just relied upon ad
revenue to generate passive income what
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could your earning stream look like take
a look at the channel far from average
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this channel gets over 3 million views
every month earning the owner over
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$10,000 in ad revenue alone now of
course this is a large channel and
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getting to this point will take time but
even with a smaller channel making a few
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hundred dollars a month possibly is
quite doable what's better is that
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starting a YouTube channel doesn't have
to be expensive most youtubers like mr.
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beast the YouTube sensation was over 20
million subscribers started their
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channels using just our iPhone therefore
creating your own channel and making
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positive it come through this means
really shouldn't cost you anything and
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there you have it 7 passive income ideas
you can start with a little money which
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will allow you to make money while you
sleep thanks for watching if you want to
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go from the life you have to the life
you deserve then hit the subscribe
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button below
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