Passive income ideas for 23 year olds should be a common thought if you are 23 years old and thinking about your financial future. Well, I’ve seen many people who are in the 20s just think about a regular job when it comes to making money. But I’m sure, once you taste these passive income ideas you can’t ignore them.
At the age of 23, I’ve earned my first income. Well, everyone remembers their first income. So my first earning was also very special to me. In fact, I’ve earned my first income from the passive income stream. I’ve earned this passive income by publishing my own ebooks. So stay tuned with me, here I’m going to share my real-life experiences and so many exciting passive income ideas for 23-year-olds.
Passive income means making money passively without many efforts or just by making an initial efforts. So at the age of 23 even if you are pursuing your higher studies then also you can explore passive income streams easily. And if you are doing a job then also you can make passive income just by investing your little time on a daily basis or on weekends.
Passive income ideas for 23-year-olds to have a wonderful future
At the age of 23 if you have confidence, a practical career plan and financial plan then you can rule the world. Of course, for this, you need to prepare a kickass strategy. Well, I believe in practical solutions and practically financial independence empowers you to fulfil your all dreams in life.
The 20s are the most energetic phase of life so make sure you make the best use of this age by exploring new things like passive income streams. The world-famous book also explains that the secret of success depends on how you think and how many different actions you take in your life. So to create a bright future financial independence should be your topmost priority at this age.
I’ve seen that when one reaches the late 20s, one starts to get more financial responsibilities. So from now onwards prepare yourself for that. Well, we gen Z are very lucky because within a few clicks we can witness many passive income streams online. Even many teenagers have started to make passive income, so don’t be left behind to grab these new money-making opportunities.
Can 23-year-olds make immense money passively?
Passive income streams are like the sky without boundaries. You can make money passively as much as you want. Surely, you need to make efforts as a beginner to make money passively. But once you understand how successful people make a lot of passive income you will also move in the right direction.
Well, I’m also in my 20s and I’m focusing to create the right type of money mindset. Do you know, to be successful in life the right attitude and the right mindset are very important. So I follow successful people by reading their books. I read money-related books which inspire me and help me to understand different type of sources of income like passive income streams.
Well, you may be thinking that reading books may not sound exciting like party and pubs at this age! But in reality, there are some interesting books like Rich Dad Poor Dad. I’ve read this book and this is the real story of the author which is penned in an interesting way. From this book, I’ve learnt how to save money and how can I make passive income from my assets.
9 Empowering passive income ideas for 23-year-olds
As I’m also exploring some exciting passive income streams, now I will pitch some ideas here. I hope you will get a lot of benefit from this blog which will help you to make more passive income. Take simple actions at this age to boost your financial growth.
|1. Make passive income by sharing personality development tips|
|2. Discuss new vocabulary and earn money|
|3. Start blogs in the Hindi language|
|4. Use Twitter and Facebook to make money|
|5. Create and sell personalised handmade gifts|
|6. Make YouTube videos regarding Ms Excel|
|7. Create an SEO course and earn an immense amount of money|
|8. Make passive income by joining re-seller programs|
|9. Invest money where you get compound interest|
Now that you are aware of titbits of passive income streams, let me explain in details about these ideas. Here I will share the practical methods which you can implement within a few seconds to set your passive income streams. If you feel any difficulties to explore these passive income ideas then drop your queries in the comment box below.
1. Make passive income by sharing personality development tips
Personality development is very important in teenage and in the 20s. I’m sure you are also learning new things which help in personality development. So share your experience and tips with other youngsters and earn passive income.
Making passive income by sharing tips
I’ve also watched so many videos on YouTube related to personality development. So many people like me look for such videos which help them in life. So you can also share practical tips by recording videos.
Creating a YouTube channel is free of cost. So start your own YouTube channel and share personality development tips. Then make passive income by monetising the videos. There are many monetisation options like affiliate programs, Google Adsense etc. So make passive income start to build wealth in your 20s.
2. Discuss new vocabulary and earn money
In India and some other countries, Eglish is not the first language. So people find it difficult to learn English. So if you are good at English then you can make passive income by sharing your knowledge.
How to make passive income by teaching English vocab?
Many students and also adults want to improve their English. They want to learn new words and want to practise speaking English. So you can help such learners to learn English. Thereby you will be making passive income.
You can post some English vocabulary on Instagram page and even post some short videos where you can teach about the usage of English words. Then try to get more followers on Instagram. Then you can apply for sponsorships and earn passive income. Along with Instagram, I suggest having your YouTube channel too. This is how you can make passive income from multiple sources.
3. Start blogs in the Hindi language
If you know the Hindi language then you can make immense passive income by writing Hindi blogs. According to some genuine stat it has been found that in India people are searching more queries and articles in the Hindi language. And this start is increasing day-by-day. So don’t lose this opportunity. Just grab this opportunity and start your own blog to make passive income.
How to make a passive income from blogging?
A few years ago I had started my blog on the free version of WordPress. Now I’ve started my own blog Frugal Beat. So you can also use free version of WordPress in the beginning. Then after a week or 15 days launch your own blog to make passive income.
There are many options to make money from blogging. I’ve monetised my blog through Google Adsense and affiliate programs. And as now the Hindi searches are increasing on Google. Then you can easily rank on Google and make more passive income the long run. Well, you can drop your questions in the comment box below regarding blogging and making money from blogging. As I’m a professional blogger, I will guide you further regarding blogging.
4. Use Twitter and Facebook to make money
Nowadays companies are looking for social media pages which have good engagements to promote their products. You can’t imagine how well you can earn money from this opportunity. So just create social media pages on Twitter, Facebook, Instagram etc and start to make passive income.
For this, you should at least reach 1000 followers and your posts should be engaging. So win your audience by posting useful and informative contents on social media pages. Then you can easily get sponsorships from companies. By this, you can make earn more money.
5. Create and sell personalised handmade gifts
The demand for personalised handmade gifts is tremendous. So if at all your internet matches with art and craft, then start to create handmade gifts and make money by selling them. Now you can call yourself as homepreneur and just grow your business to make more passive income.
You may be thinking how can you sell your handmade gifts and make passive income. Let me give you practical solutions to this. Create your account on Etsy and list your handmade products. It will charge you very fewer fees to list your products. You can just skip your one Sunday plan with friends and save that money to list your products online.
This is how your business will grow online and you can reach out to millions of people. Give it a try, don’t miss any opportunity to make passive income.
6. Make YouTube videos regarding Ms Excel
Do you have any idea how important is Ms Excel for company workers? Well, when I faced job interviews I was asked questions regarding computer knowledge and Ms Excel. So there are many people who just know the basics of Ms excel but there are so much to learn in Ms Excel. If you are good at this, then you can start your own classes on YouTube and make passive income.
You can start teaching the basics of Ms Excel then teach about advanced skills. But make sure that you monetise your YouTube videos soon so that you can start to fill your pocket with passive income.
7. Create an SEO course and earn an immense amount of money
SEO means Search Engine Optimisation. Many marketers and bloggers want to learn SEO to grow their business online. So if you have knowledge about SEO then you can guide other people and make passive income. But I advise that provide the best SEO course so that people should learn well from you. Your course should be worth the money which people pay for you. Then only you get more clients and you will be earning a lot of passive income by selling SEO course.
8. Make passive income by joining re-seller programs
If you observe then you will get so many resellers programs online. Where you can sell products which are already manufactured by others. So if you can influence people to buy products and if you have more followers on social media then grab this opportunity and make passive income.
You can also join the Amazon influencer program and make passive income. You just need to sign up and share your Twitter and Facebook page links. If you have a good number of followers and engaging posts then easily you can make passive income from this program.
9. Invest money where you get compound interest
When one talks about passive income one can’t underestimate the power compound interest. Compound interest means earning interest on the interest, this helps to grow your money quickly. So always figure out such investment schemes where you earn compound interest.
Well, mutual funds work on the concept of compound interest. I’ve personally invested money in some mutual funds. So I feel at this age you should also learn to take calculated risks in life. Mutual funds involve risks but I did my own research and selected some good funds from which I’m making passive income in my 20s.
Nowadays you don’t need to do a lot of paperwork to invest in mutual funds to make passive income. There are some genuine apps which are very easy to use and free to use. So I’m using an app to invest my money in mutual funds and earning passive income. So I suggest doing your own research about mutual funds then start investment to earn passive income. Many people have a false notion that they need a lot of money to invest, but in reality, you can just start an investment with 250 INR in mutual funds. So this is a very effective passive income idea.
These passive income ideas for 23 year olds will work like magic in your life. So choose any of these passive income ideas and start to implement practically. I say- start from today itself.