#Beginner passive income for free#

With these income opportunities, you are doing pretty much the same things you are doing anyway and get paid for it. This is probably the kind of passive income that most people have in mind and want to do. Since there are quite a few ways how you can generate ongoing cash flow, I have structured the following passive income stream ideas a little bit to keep an overview. Now let’s talk about the interesting part. The Best Passive Income Ideas for Digital Nomads You either have to do much, in the beginning, to set up your passive income stream or/and you regularly have to invest at least a bit of time, effort or money to maintain that income.ĭon’t get tricked by the illusion that you don’t have to do anything and receive money. But please keep in mind that no income, not even passive income, just flows in like that. Passive income is money that is usually (but not always) received on a regular basis without any or only little effort. The Best Passive Income Ideas for Digital Nomadsīefore we jump right in, let’s have a quick look at the definition.Then, reach out to brands with your media kit and pitch them on advertising on your social media, blog, newsletter, or podcast. If you're looking to get started doing this, put together a media kit that outlines your platforms and metrics. This generates close to $1,000 a month in passive income for my business. This is different from an affiliate model where you get paid based on how many people buy a product. I pick the brands I believe my audience will enjoy hearing from and get paid through a one-time fee. Every month, I sell ad space for people to market their businesses on my newsletter and podcast. Selling adsĪfter years of building my platform (social media followers and email subscribers), I decided to make passive income off the people who consume the content I create for my different businesses and brands.

#Beginner passive income for free#

If you have a current business or brand, you can set this up by designing the item for free using Canva, and then hosting it on a website like Amazon Merch or Printful, where they take care of the details after the purchase is made. I don't have to think about making the product, putting it in the mail, or even handling refunds. I did this by selling print-on-demand merchandise.Īfter I designed hats and T-shirts and listed those items on my website, whenever a person went to buy an item, the print-on-demand store would print it and ship it to them. I decided to create a product for my business that would generate passive income and not require much of my time. They then pay monthly interest on these loans and I receive a share of those payments. Since I'm just getting started doing this, I'm using a website called PeerStreet, which lets you lend capital to people who are real estate borrowers. This is when you loan money to borrowers who might not qualify for traditional loans. Peer-to-peer lendingĪnother way I decided to diversify my investment portfolio and make passive income was through peer-to-peer lending. If you're interested in doing this, you can start with a small amount ($100 even) and do it through a platform like MainVest. While my monthly passive income from this route will pick up over time, it's allowed me to become an investor in businesses for the very first time. I decided to invest a small percent of my income every month in businesses that agree to share a percent of their future revenues until this investment is paid off. Investing in small businessesĪs a small business owner myself, I wanted to find a way to invest in other entrepreneurs and make passive income as their businesses begin to take off and see profit. All you do is shop through their portals, and when you buy an item from a store, you can get anywhere from 1% to 30% cash back. I also use cash-back websites, like Rakuten and TopCashBack, for online shopping. I usually find myself getting around $30 to $50 a month in cash back from using this card. I get unlimited 3% cash back on dining, entertainment, my streaming subscriptions, and at grocery stores. I decided to get a cash-back credit card to use for my everyday purchases. An easy way I've been making passive income lately is through cash-back credit cards and websites.