How to generate passive income with no funds? Is that even possible? Keep on reading.
Today we are looking at ways you can earn money on a regular basis, without having to invest your savings or wage into your new business venture. While having a little capital can make life easier, it is perfectly possible to be earning a passive income without having initial money to start with. So if your dream is to become a millionaire, having a strategy that involves passive income can be a smart decision.
Passive income is the holy grail of personal finance. What could be better when it comes down to income than earning money without the need to trade your time or dollars for it?
Passive income can be achieved in two ways. You either invest money or make it happen by investing your time. Is there another way? It’s kind of.
Is it possible to create passive income without a financial investment?
Two ways to earn passive income are possible. The first is to make money work for you. You can do this by investing in stocks, real estate, and a business.
Real estate investing is a hot topic right now. You don’t need much money to get started. Platforms like RealtyMogul make it easy to start investing in real property for as low as $5,000
You can also make passive income by investing your time. For example, you can create a side business.
It is possible to make passive income without any money. However, it is not easy. This will take a lot of hard work up front, and there are no guarantees.
Most of these tips and ideas will require an internet connection and either a smartphone or a computer, but since you are reading this article on our website, we will assume you already have access to those things. You dont need a fund, but it can be easy to have some money to start with. For example, if you start with a website/or blog, a domain name and hosting do cost some money and of course marketing costs some money. But nowadays when you work on good SEO (see our shop) you can get visitors/customers without spending too much on advertising. Make sure your websites ranks in Google. For SEO you maybe need like 1000 dollar.
In short, you will need to provide value to potential customers, and all the ideas we suggest focus on either helping people make choices, educating them, or otherwise making their lives better or easier in some way.
Here are some ways to generate passive income with no funds:
If you have a hobby or interest that you have spent years learning, it is possible to create an online course where you teach others the skills you have acquired. There are large websites such as Skillshare or Udemy to name a few, where you can upload your course and have it be available for sale without any cost other than a fee every time a student signs up to learn from your course.
Not only does this provide an excellent way for you to provide unique value to other people, it also has great potential for passive income, as you can keep on creating new courses every month, and grow your business rapidly.
In the same vein as creating an online course, writing an eBook is all about you sharing something unique with the rest of the world. You can write fictional stories about fantasy adventures or romantic couples, or you can write technical books covering niche areas.
Again, this does not have to cost you anything to start with, and you can upload your eBooks to Amazon or other popular websites that sell to the entire world.
You can also write kindle e-books.
A popular way to make passive income is to create an eBook and then sell it on Amazon through KDP.
KDP stands for Kindle Direct Publishing. This is Amazon’s program that allows self-publishers. You will need to write the book, learn Kindle formatting, and create a cover design. However, self-publishing a book through Amazon is free.
A 70% royalty will be paid on each sale of Kindle eBook books priced between $2.99 and $9.99. A 35% royalty will be paid if your book is less than $2.99 or more than $9.99
You can see a real-life example Steve Gillman from the Penny Hoarder shows how he made $2,000 off a Kindle eBook. In addition, he discusses his writing process, marketing strategies, and other key takeaways.
If you have artistic skills, or just find yourself being in a creative mood, you can design patterns or graphics for t-shirts or other clothes, or you can create art that can be framed and hung on walls as interior decoration pieces.
From Etsy and other marketplaces, to Print on Demand businesses that offer to sell your designs on their clothes for a fee, there are plenty of free options.
5. Sell Stock Photos
You can make passive income online by selling stock photos if you are a freelance photographer or enjoy taking photos.
Different websites will have different commission rates and rules. There are many places where you can submit photos.
One of the best things about stock photos is that multiple people can buy a single photo.
You will find 13 locations to sell stock photos.
6.Make an Information Product
You can sell an information product online if you are an expert on a particular topic. This could be a book, a guide, or a course.
These are just a few examples.
Rosemarie Grone of Busy Budgeter made over $58k from two informational guides and a personal financial workbook. Note: She did spend a lot on Facebook advertising to get there, but this is not needed when you’re just starting.
Greg Jeffries made over $30k by creating online courses. He also shares information about where to sell these courses.
You can create information products on any topic. For example, you can find inspiration on Amazon by looking through the top-selling books and seeing if they match your expertise. Even if they don’t, that doesn’t mean there isn’t a market for your expertise.
7. Create a YouTube channel
Last but not least, you can start a YouTube channel if you are technically minded. It will require you to have a decent microphone and camera, but if you are just starting out then a newer smartphone and a blank white wall can do the trick.
Are you creative? Ready to make money with Youtube? Then have a look at this article.
Like the other options, you will need to find a niche where you can provide meaningful and helpful content, or you can record yourself playing video games, eating food, or 100 other things that people find entertaining. Think about what you like to watch online, and find out what you could do yourself.
While it might take some time before you start earning big money with passive income, it is very much possible and people succeed every day by doing one of the four above mentioned techniques.
So it is possible to generate passive income with no funds, but like most things entrepreneurship costs a little money to start with. Think of marketing ways to promote your product or blog.
Ready to start blogging? Then follow the steps in our shop.