How To Make 1000 Dollars a Month in Passive Income?
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 How To Make 1000 Dollars a Month in Passive Income?

Are you thinking about making passive income online and want to know how to make 1000 dollars a month? Did you know that about 11% of the population in the U.S. Are independent contractors? But, not everyone wants to be a freelancer since it’s still work.

Whether you’re looking to build up a healthy side income or earn passive income, this article has you covered. Sit back, relax, and read on as we dive into how to make 1000 dollars a month in passive income.

What Is Passive Income?

Before diving into the different types of passive income, it’s important to understand what it is. Keep in mind that it’s not a get-rich-fast scheme, you do the work up front and you can keep making money off of it.

When exploring the best passive income options, it’s important to understand that it’s a way to make money off of work online, rental property, and investments. Some use it as a source of secondary income, while keeping their main position.

Passive Income vs Active Income

You might have heard of the term portfolio income. It’s the income that you made from stock investments, dividends, capital gains, and interest. This can be a type of passive income.

Active income is where you have to actively perform work in order to maintain and keep it. This can include your hourly or salary wages.

How Much Money Can I Put Into My Business?

When exploring different passive income options, it’s important to understand that each option will require a different amount in upfront costs. For example, if you’re tight on a budget, you might want to consider blogging since you can get a free domain name and start out at paying as little as $3.99/month.

Build Your Website

As mentioned above, you can get started for as low as $3.99/month. You can follow my free guide here that walks you through it.

While it takes a lot of effort up front, once it’s up, you can find success over time. First, you’ll want to consider building a niche site.

Next, you can make money off of it through what’s called affiliate marketing. Affiliate marketing is where you can make money off of selling other people’s products. You can learn more about it in my free course.

If money is tight, use search engine traffic to build free conversions. Some tips for having a high-performing site are to research the competition and make sure that you blog about something you enjoy. Next, have displayed ads and write blog articles such as how to’s and the top products, etc.

You can even consider promoting Amazon’s products.

Write

If you’re open to writing a book, go for it! While it’s a lot of work up front, once you upload it then you’re set. You can decide whether you want to focus on promoting it or if you’d rather pay for ads. You can check out this article about using Kindle to sell your books.

This is a good option because you don’t have to worry about dealing with angry customers, returns, or answering questions. You put your books up and you’re done. You can also consider creating a website in order to promote your books.

Create a Course

Did you know that you can create a course and make money online? This is one of the best passive income ideas because whether you’re a painter, writer, or blogger, you can create a course.

Many think that they don’t have skills to sell, but think again!

One person makes a ton of money off of Teachable by teaching you how to paint. If you’re a software engineer, you can teach others how to code. The options are endless. Many are looking for beginner-friendly courses as well.

Real Estate Investing

If you’re not interested in being a landlord, but instead making money off of real estate, this might be an option for you. Did you know that you can invest in different companies that provide residential and commercial real estate projects?

You can check out different real estate investment trusts out there to see if it’s right for you. Some companies will allow you to join for as little as investing $500. If you’re in investing, you’ll know that’s a low amount.

Keep in mind that these companies will have fees since they’re provided you options.

Rent Your Car

Are you someone who doesn’t often use your car? Maybe it’s just sitting in your driveway, waiting to be driven. You can rent it out and make some extra cash.

If you do this, keep in mind that it’ll mean extra wear and tear on your car. Even if your repair bills might see an increase, it might be worth it.

Print-On-Demand

While I do have an article about this option, I do suggest to proceed with caution if you go this route. While it’s an option to make money online and not have to deal with angry customers or returns, the profit will be much smaller than say dropshipping.

This is due to having a company do the printing for you. If you’re looking to do this, you’ll want to do lots of research. I highly recommend picking 2 niches. For example, a t-shirt such as combining cats and nurses. Instead of just cats or nurses.

Next, if you’re not a graphic designer you’ll need to hire one, unless you decide to go with funny sayings on your shirts. Keep in mind though that you might have a great design, pay for ads, and then wind up making nothing, or earning money but making nothing due to ads/the third party printing company taking a cut.

App It Up

Besides real estate passive income and blogging, there’s building an app. Building passive income online or on your phone is a possibility if you have an idea for an app. Not a coder? You can hire someone else to build it for you.

You’ll just want to make sure that you have an idea that’s not too saturated, and be willing to put in the work to market it. Once it’s completed and online you won’t have to do too much with it besides checking it routinely for any bugs(or hiring someone else to check it).

As smartphones continue to grow in popularity, apps will continue to be downloaded. You’ll have the option of free vs paid app creation as well. You can still make money off of free apps by offering add-on services.

For example, if you have a game and the player keeps struggling with it, maybe you have an item they can buy for a few dollars to make their lives easier. If they’re happy with it, they might buy more add-on services in the future.

You can also make money off of ads. This can be what’s known as click-through ads where every time someone clicks on an ad you get a percentage of it.

Start YouTube

When you’re wondering, how to make 1000 dollars a month in passive income, Youtube is an option.

While it might seem like hard work, YouTube is a great way to not only promote your business/product/services but to make some extra cash.

Whether you’re looking for one of the top passive income ideas, or to have a residual income business, YouTube is a great choice to make. First, you’ll come up with what you’ll talk about. Next, you’ll record yourself. Last, you’ll edit it and then upload.

YouTube makes it super easy to upload, and they even have a section to input keywords. You’ll want to understand SEO to do well on YouTube. This stands for search engine optimization. It’s the way that people will find you online.

For example, say you’re selling ballet slippers, you’ll want to include the term ballet slippers on your site. You’re more likely to have someone hop on your page if you include that term in your video.

Digital Products

If you’re interested in making money online you can consider selling digital products. While you can sell others’ products, you can create your own as well.

For example, say you’re a nutrition coach, you can sell recipe books. You can hire a freelancer to do the work for you if you don’t wish to. Or, you can do the work upfront, and once it’s done then the hard work is complete.

Other Ideas

Other ideas you can try that aren’t as passive are creating products for Etsy. While you’ll want to do some marketing and create the products, it’s a way for you to post the items and then wait for someone to buy them.

First, you can do print on demand such as designing mugs, t-shirts, etc. Keep in mind that if you do that, then the third party company that prints your designs will take a cut, along with Etsy.

You can instead decide to sell items that are less competitive.

Dropshipping

While dropshipping might not seem like the best passive income idea, it’s a way to learn how to make 1000 dollars a month. First off, you have products on your page to try and entice others to buy them. Next, when someone makes an order, you fulfill it which means you’ll pay the difference.

You can outsource your business as well. For example, you can hire others to take care of returns, advertising, fulfilling products, etc.

In the beginning, it’s a good idea to take care of all of the tasks on your own until you’re comfortable. Then you can hire a VA(virtual assistant) to take care of day-to-day tasks, and you can get a break.

Hiring a VA will give you the opportunity to make sure the company is passive even if you’re making less overall. Then you can always have multiple stores for multiple profits.

There are various sites that you can find virtual assistants as well, and have people apply to your job instead of you having to find them.

Things To Consider

Before choosing a passive income model, it’s a good idea to find one that has a low risk and investment. Keep in mind that the passive income models that’ll require less upfront, normally will make less/require more work.

One benefit you can hear people say about passive income is that you can earn money while you sleep. This is true no matter which model you choose. While you’re sleeping, someone might have bought from your store whether that’s dropshipping a product, a recipe book, or online course.

How To Earn 1000 Dollars a Month in Passive Income?

Now that you’ve explored these different passive income options for how to earn 1000 dollars a month, you should have a better idea of which is the right option for you. Take your time as you’re deciding between these choices, and it’s a good idea to start out with a lower risk option first.

If you’re ready to get started blogging today, check out my free course that you can start today. It’ll be delivered right to your email, 7 days of free content you won’t want to miss out on.

You can also consider signing up for my coaching program today! Get started making money online today!

THIS POST MAY CONTAIN AFFILIATE LINKS. PLEASE READ MY DISCLOSURE FOR MORE INFO. I GET COMMISSIONS FOR PURCHASES MADE THROUGH LINKS IN THIS POST AT NO ADDITIONAL COST TO YOU. This helps me to continue providing content to my readers.

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