If you’re one of the millions of bloggers trying to make a decent living, you should look at passive income options to augment the money you earn from your blog. Because, the truth is, less than ten bloggers make more than $1 million a month, while the majority get $1k – $12k.
Passive income is money coming in without working for it. It seems impossible, but today opportunities to earn passive income are aplenty. Before you can have it, you must invest some amount of money or time, or both, to reach that point where the dollars enter your bank account on a regular basis, without you doing anything.
Some passive income ideas require a large monetary investment upfront and/or a wait of many years before you will be receiving money. For dividend growth investing, you’ll need to invest about half a million dollars in a high-dividend stock to earn money years later at about $5,000 every quarter. Building a house to be rented out means a loan or a large cash output which you don’t have. Writing an e-book requires an indefinite amount of your time, while you’re also blogging. So we’re not talking about them.
Here are 6 doable passive income options for bloggers like you that will work:
1. Rent out an extra room in your house.
A spare room you rent can earn you between $500 – $1,000 a month depending on your location. You can list it on Airbnb or in local directories. You can accept travelers or long-duration renters, like workers or students. This is a common and effortless way to earn money that will help in paying your mortgage or the utilities.
2. Rent out your things.
They could be anything that’s idly sitting in your storage room or garage. If you’re a DIYer fixing things around the house, you probably have lots of power tools for carpentry or lawn care. Other rentable items are party tents, and tables and chairs. Clean them up for renting and start earning money from them.
3. Play the stock market.
There are many ways to do it. if you’re in it for the long-term, buy blue chip stocks like Amazon, Apple or Facebook. There are many other non-tech blue chip companies that are not too susceptible to market volatility.
There’s also swing trading for the brave-hearted. Whichever you choose, learn the basics of how to invest in stocks before jumping in.
4. Get into affiliate marketing.
Your blog is your tool to join an affiliate marketing program. You recommend products from companies that have affiliate programs and get paid when a customer makes a purchase from them through you. Payment comes in many forms, and at varying percentages and the period it takes to get paid. Amazon is one of the most popular in affiliate marketing, but they give a low percentage of the price to the affiliate marketer.
Choose which sites to join, and check out the products you endorse, or they could harm your reputation.
5. Advertise on your blog.
If your blog is getting good traffic, adding ads to it is one way to make passive income. Google Adsense is the most popular source of ads for bloggers but try exploring other avenues. There’s PPC, selling text links, pop-ups, and paid reviews. There are certain rules for each, so make sure you know them or risk being penalized.
6. Rent space for ads on your car.
Companies pay car owners for putting their ads on their vehicles. These are wrapped on your car and you get paid monthly. High-mileage drivers are obviously preferred, so adjust your blogging time to accommodate exposure of the ads. Wrapify and Carvertise are sites you can check out for this passive income method.
These methods are simple and easy to do, but are also effective as passive income generators. Try the ones you feel comfortable with first, then learn about the other ideas that you aren’t too familiar with. Meanwhile, keep on blogging and building your traffic. The more visits you have, the more your ads will convert into money.