Passive income ideas for frugal people will help you to create wealth. Have you ever thought of making a passive income? Well, passive income is all about earning money with fewer efforts.
After completion of my graduation, I was looking for various opportunities to make money and be a financially independent girl. This is how I’ve come across the word passive-income for the first time.
So now in my early 20s, I’ve realized that there are so many options to make passive income. And some passive income ideas do not require any money initial investment of money. So in my current blog, I would like to share my real-life experiences and effective ideas to make passive income.
Exciting passive income ideas for frugal people
Well, frugal people are those who are very resourceful and do not waste their money and resources. Even I can say myself as a frugal girl, but I can’t say that I’m perfect in frugality. I’m learning and adapting frugality in my day-to-day life. And frugal living is like an endless journey.
Being thrifty is all about spending money smartly and saving more money. But this does not mean that you only focus on saving and forget about having fun in life. Nope! Frugal living is not just about saving money but also living your life very smartly by spending less money.
|1. Create your own blog and start to earn|
|2. Sell your digital products and make passive income|
|3. Create videos on YouTube and earn money|
|4. Earn through Pinterest|
|5. Just by clicking pictures make money|
|6. Rent out your unwanted things|
|7. Publish your own book and earn royalties|
I feel that saving money and earning money both are equally important in frugal living. So I’ve added various passive income streams to my portfolio. I advise you to add some extra sources of passive income streams to your portfolio to earn more money.
7 Kickass passive income ideas for frugal people
Most of the people think that earning money is very difficult. And off course I agree with them! But when you start to explore various income streams then you can boost your earning capacity and earning more money will not be a headache for you.
The more you explore and implement new ideas of passive income the more you grow financially by making more money. Let me elaborate on a few kickass passive income ideas for frugal people. Here you will get the complete guidance about how to start to earn passive income.
Many people have just a job oriented mindset, but by being a little aware of other income sources you will be amazed at your earnings.
1. Create your own blog and start to earn
A few years ago I was just writing quotes and one-liners and posting them on different online platforms. And even people were appreciating my writings. So I was thinking to make writing as my career.
Then I started to look for a writing opportunity and figured out how to make passive income from writing blogs. I collected a lot of information about blogging and monetization of my writings.
How I’ve prepared a passive income strategy?
I signed up for free online platforms to publish my writings. Various online platforms are there, you can also try. If you want to make passive income through writing, I advise you to start a free account on WordPress first. Even I’ve used the free version of WordPress.
But now I’ve launched the current blog- FRUGAL BEAT on WordPress. Now I signed up for GoogleAdsense to earn money from my blog. There are various ways to monetize your blog. For example- affiliate marketing, sponsorships, advertisement etc.
If your writing skill is good, you must try blogging to earn passive income. Here initially you must invest your time to earn more passive income in the long run.
2. Sell your digital products and make passive income
There are so many options in digital products to earn passive income. But today I’m going to share one particular digital product which is easy to create and sell online. That is an ebook. Yes, you can publish your own digital product like an ebook and make passive income.
How I’ve earned passive income by selling digital products?
Right after my graduation, I was preparing for government exams to get a government job. So I was preparing for government exams. And I thought to do something else also to make some money along with my studies.
And as I was looking for various job opportunities like work from home and passive income streams, then I thought to share my knowledge through writing and selling my own ebooks.
I started to figure out how to sell my ebooks without investing any money. I’m sure many of you here may think that publishing an ebook and earning money from it seems very difficult.
Well, initially I was having this kind of mindset. But there are ways to publish your ebooks for free and make passive income from your ebooks. I’ve shared in detail about how I’ve published my first ebook with zero investment, you can read this article.
3. Create videos on YouTube and earn money
More people are using technology and the internet. You can find a lot of people online. So here is the passive income idea to convert that online tribe into your audience and earn more money. This sounds great, right? Well, millions of people watch videos on YouTube.
I’m sure you also watch many videos on YouTube. But have you ever thought of making money through YouTube? If yes, then now you will be given ideas to start your own YouTube channel to earn passive income.
Ideas to earn passive income through YouTube?
Everyone has some hobbies or interest in some particular topics. So just start to make videos according to your knowledge and interest and monetize your videos to earn passive income. I advise you to choose a particular niche to start your YouTube channel. Creating a YouTube channel is totally free, you don’t need to pay money.
For example, if you are interested in cooking just record your new recipes and upload them on Youtube. Here cooking will be your niche. Even I’ve my YouTube channels where I experimented with a lot of ideas to make passive income. My niche is ‘general knowledge quiz’.
As I was also preparing for government exams, I was interested in a quiz and general knowledge. So I used to prepare videos and monetized my YouTube channel through Google Adsense. Also, I was promoting my ebook on YouTube so this is all about multiplying the passive income.
4. Earn through Pinterest
Do you use Pinterest? If no, then I advise you to open your account today itself. Even I’ve my Pinterest account where I share tips about frugal living and saving money.
Do you know on Pinterest you can easily get more than 50k traffic per month? Here traffic means the people. So you must think about turn this free traffic into passive income! This is how you should learn to build wealth.
How to earn passive income on Pinterest?
Recently I was just looking at how Pinterest works. Then I found that people are selling a lot of products on this online platform and making passive income. People are selling T-shirts, crafts and also other affiliate products.
So you can just sign up for Pinterest and affiliate programs. An affiliate program means you can sell products that are prepared by others and you can earn a commission. There are many affiliate programs like Amazon affiliate program, Cluelink affiliate program, Flipkart affiliate etc.
I’m personally using these affiliate programs to earn passive income. These are all popular companies. You can just sign up for the free start to share the product links. This is how you will be earning passive income online.
5. Just by clicking pictures make money
You don’t need to be the best and professional photographer to earn passive income through photography. You just need a good camera or even you can click good pics by using your smartphone and earn money. Are you interested in capturing pics?
Well, if you love to capture beautiful things like nature pics, birds, waterfalls then you can make money out of it. Even if you like to click your own stylish pics with different looks and different attire then you can think about making passive income.
Know how to earn money from photography
This is a one-time effort. Capture the awesome pics and upload them on online websites. Here also you can decide one particular topic like- nature pics or any other particular niche to reach a huge audience.
There are websites like Shutterstock, Stocksy, iStock, Getty Images and many other websites where you can open your account and upload images. On these online platforms, you will earn a commission whenever people download them. You can expect a 20% to 75% commission here. So this is the best way to earn a passive income.
6. Rent out your unwanted things
If you have any unwanted things then you can rent out them to make passive income. My relative rent out his car and earn monthly passive income. So you can also figure out which things you are not using much and try to rent out.
Even if you are a student then you can rent out your old textbooks to your juniors and make some money out of it. And I’ve seen that people are renting out furniture and other things also. So just give it a try. By this, you can earn passive income.
7. Publish your own book and earn royalties
If you think you can write your own book then I say start writing your book. No author was sure about the success until he or she published a book. By publishing your book you can earn royalties. So this will be the greatest source of passive income.
This is also a one-time effort. You write your book only once and you earn money every time when somebody buys your book. You can write any type of book like an imaginary love story or even a non-fiction book.
Earn unlimited income passively from these streams
Yes, there is no limit in earning passive income from these streams. You can decide your upper limit that how much money you want to earn. Earning passive income needs some smart work and initial efforts.
Passive income streams are actually my favorite sources of income. I feel that if you understand your own strengths then you can use your all plus points to earn passive income.
So as a thrifty being you can’t afford to miss this kind of million-dollar opportunities in life. Just start to figure out your strengths and start to make money. With my own experiences, I can say that earning passive income helps to make smart money moves and grow financially in life.
Why thrifty people should explore passive sources of income?
Well, who does not like to earn more money, right? And in passive income streams, you need just initial efforts then you can actually earn income passively. Passive income is not like a 9-5 job. Here you can just earn extra money without investing more time and money.
So if you are also frugal being like me, then here you have the option to continue with your current job and also explore these passive income ideas to earn extra money. If you are a student or a housewife then also you can earn money just by spending a few hours in a day.
To earn the passive income you don’t need to invest a huge amount. So I say- frugal people should surely give it a try. There are several passive income streams so you look for the idea which will be suitable for you.
If you are thinking about passive income ideas for frugal people as a thrifty being then implement these practical ideas. In the beginning, you must give your time and even a little bit of money in some cases. But in the long run, you will earn more passive income and can see your financial growth.