Thinking about passive income ideas for 21 year olds? Wondering how you can explore effective passive income opportunities in your 20s?
In my current blog, I’ve come up with different strategies that will help you to make passive income as a youngster.
15 Effective Passive Income Ideas for 21 Year Olds
I’m somebody who has tried many passive income ideas and earning in my 20s. So, you can also start implementing these ideas to earn passive money-
Digital Products Can Be Great Source of Passive Income to Build a Passive Income Stream
Digital products like printable art, templates, graphic templates, etc are in demand. You can create such digital products and sell them online to build a passive income source for yourself.
You can create your eCommerce site or join platforms like Etsy to sell your digital products.
Earn Money by Renting Out Your Bike or Car
If you have a bike or car then you can rent out your vehicle to earn passive income without any effort.
There are some companies or websites where you can register and rent out your bike to earn money passively.
Earn Passive Income by Making YouTube Shorts
Choose a particular niche for your channel and start uploading shorts on YouTube. You can earn passive income by monetising your YouTube channel by Google Adsense.
Initially you need to make efforts and once you start to get more views you can make passive money online.
Sell Useful Online Courses to Make Money
You can sell your online courses on Udemy and earn money with each sale. You can also make use of social media pages and groups to sell online courses.
Due to the penetration of internet and technology students and youngsters are interested in online courses to learn new skills. So, you can create online courses by understanding the needs of youth to earn passive income.
Sell Photos and Videos on Stock Photography Platforms to Earn
Submit photographs and videos on stock photography sites. Whenever people download the pictures, you will earn a commission.Clicking the picture involves a one-time effort but you are going to earn passive income from it.
For example, if you are interested in animal photography then you can click pictures of dogs, cats and earn passive income from stock photography websites.
Publish an eBook in Your 20s to Make Passive Income
Select a topic in which you have a good knowledge and experience to write an ebook. Writing an ebook and earning passive income is a great opportunity as online readers are increasing rapidly.
You can publish your ebook on different online platforms like Amazon. You can promote your ebooks initially on social media to get readers. Gradually, your ebook will become a passive income source if people find it valuable.
Create and Publish a Long Form Videos on YouTube to Earn Passive Money
Encash your skills and talent by creating a long form of content on YouTube as a 21 year olds.
For instance, you may have skills like dancing, drawing, computer knowledge, etc. So, you can create long form content in such a niche and monetize your videos to earn passive income online.
Publish Your Blog to Earn Passive Money Online
There are a lot of opportunities in blogging to make passive income. Whenever people need any type of information they Google it and read blogs on the internet.
You can write blogs about the topics in which you have more knowledge, interest and experience. There are many ways to monetize your blog like- advertisement, selling your own products, sponsorships etc.
Invest Your Money in Mutual Funds to Earn Compound Interest
Learn the concept of compound interest and start to invest your money in your 20s. Making money from money is an effective source of passive income.
You can learn the basics of mutual funds and how the SIPs work. Then invest a small amount initially to understand investments practically.
Show Your Creativity and Make Digital Designs on T-Shirts to Earn
As you are a youngster, you have ideas about new trends and fashion. So, be more creative and make designs on t-shirts online. There are some websites where you can sign up for free and create attractive designs on plain t-shirts online.
If people order that t-shirt then they will print and deliver the product. You don’t need to worry about printing and delivery. Thereby you will earn your profits. As your business starts to grow, you earn passive revenue.
Explore Affiliate Marketing to Fill Your Pockets with Passive Money
Affiliate marketing is a huge passive income source if you do it in a smart way. You don’t need any product to sell here. You just need to promote other products that are already popular in the market.
You can join many affiliate programs like the Amazon affiliate program. Then you can share the link to the product. Whenever people buy products through your unique link you will earn a commission.
Start Exploring Share Market in Your 20s to Build Passive Wealth
Investing in the share market involves risk but if you study the market and understand your own financial risk taking capacity then you can make passive income by investing.
You can read books about investing money to get a deeper understanding of concepts. Then start with a small part of your savings and gradually you can invest more in upcoming years.
Earn Recurring Revenue Online to Multiply Your Passive Income
There are many affiliate programs online to earn recurring revenue. For example, monthly magazine subscriptions. So if a person buys a magazine through your affiliate link then you earn a commission. And when that person renews the subscription you will earn money every time.
So, you can look for such affiliate programs to make recurring revenue online.
Create Useful and Valuable Mobile Apps to Earn Passive Money
Many youngsters are fascinated about technology, coding, apps. So, if you have an idea to create a mobile application that could help people then you can earn passive income from it.
You need to create an app and upload it on play stores. Implement many ways to monetise your app such as Google Adsense, monthly subscription, sponsorships, etc. When more people start to download and use your apps, you make passive income.
Sell Your Own Music on Different Online Websites to Earn Recurring Income
Stock music websites are similar to stock photography sites. If you like composing music then start monetizing this skill. There are many YouTubers and organizations that look for music for their content.
When you upload your music on stick music websites you people will buy it if they like. This way you can earn passive income whenever people download your music.
So, don’t miss these passive income opportunities as a 21 year olds. As per your interest choose at least one or two ideas from my list and you start exploring passive income streams.