Passive income ideas for millennials to earn more money. Have you ever thought of having multiple sources of income? Well, passive income streams give you a lot of options to make money from different sources.
Well, I’m also in my early 20s. Just after my graduation, I started to explore many money-making opportunities. Then I’ve figured out some exciting passive income streams for myself.
Nowadays there are many passive income ideas for millennials. Some passive income ideas just require zero investment to earn money. To be honest, after my graduation my first income was from a passive income stream. So in this current blog, I’m going to share effective money making ideas with you.
Superb passive income ideas for millennials
As a millennial, if you depend on a single source of income then it will be quite difficult to grow financially. So I feel even if you are doing a job, then also you should make some extra money through passive income streams. And if you are a student then also you can easily earn passive during your spare time.
The word ‘passive-income’ itself includes ‘passive’ word, that means you don’t need to invest more time or money to earn passive income here. These ideas are very simple to implement in your daily life.
Let me elaborate on a few kickass passive income ideas for millennials-
|1. Make passive income from blogging|
|2. Don’t miss the opportunity to make passive income from digital products|
|3. Don’t just scroll the YouTube, make money there!|
|4. Prepare a strategy to earn money on Pinterest|
|5. Click pictures through smartphone and earn money|
|6. Earn money as a millennial by renting out unwanted things|
|7. Publish your own book and earn profits|
|8. Teach grammar and start making money|
|9. Start making money by teaching about gardening and plantations|
|10. Ask questions online and earn money|
|11. Make passive income from social media|
|12. You can make passive income by making designs on t-shirts|
|13. Sell affiliate products related to sports to earn|
|14. By translating the language you can earn well|
|15. Give tips to crack competitive exams in the 20s|
You may think earning passive income is difficult and you can only earn limited money. But in reality, if you really do hard work with smartness initially then you can really earn more money. Yes, there are people who explored passive income streams as a side hustle. But later on, they started to earn more money than their monthly salary from a job. So this is the power of passive income.
15 Stirring passive income ideas for millennials
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 explain to you in detail about these passive income ideas. 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. Make passive income from blogging
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 writing career 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. If you have any questions regarding blogging then drop it in the comment box.
2. Don’t miss the opportunity to make passive income from digital products
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.
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. Don’t just scroll the YouTube, make money there!
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 on Youtube. Here cooking will be your niche. Even I’ve my YouTube channels where I experimented 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 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. Prepare a strategy to earn money on 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 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. 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 free, start to share the product links. This is how you will be earning passive income online.
5. Click pictures through smartphone and earn money
For millennials, this is the best opportunity to earn passive income. Now we have the advantage of technology. 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 through 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.
How to make money from stock photography?
This is a one-time effort. Capture the awesome pics and upload it 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, Getty Images, Stocksy, iStock, 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 20% to 75% commission here. So this is the best way to earn a passive income.
6. Earn money as a millennial by renting out 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 profits
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.
8. Teach grammar and start making money
One of my relatives teaches English to kids and from her tuition classes, she earns money. I’ve seen some married women who make money by working at home. So there are tremendous opportunities to make money.
If you are good at English grammar then start to teach grammar classes online. You can create your own YouTube channel or else you can create English courses on Udemy. Also, I suggest creating a social media page and start to post daily some new English vocals with examples. By doing this your followers will grow and you will earn more money.
9. Start making money by teaching about gardening and plantations
Many people like gardening and plantations. I’ve seen that on Sundays some people particularly spend their weekend time in a plantation. So if you are one among those who like plantation and gardening then share your knowledge and experiences with other people and make passive income. You can create your own blog for this or else start with a YouTube channel.
If you are a working person then you can make YouTube videos on weekends and upload. And if you are a married woman and looking for any opportunity to make money from home then don’t lose out on this opportunity.
10. Ask questions online and earn money
Recently I’ve seen that many people are making money just by asking questions online. Well, here I’m talking about a very popular Q & A online platform Quora. There is a program which is launched by Quora where you can just post questions and earn money. But for this first, you have to build good followers and be more engaged on this platform so that you can get access to such programs where you can make passive income.
11. Make passive income from social media
Millions of people are active on social media like Facebook, Instagram and much more. Even I’ve seen that young students are more active on social media. In fact, I feel that students are wasting their time on social media. So instead of wasting time now, you can think of making passive income on social media.
You can create your own social media page and make passive income from affiliate programs. Also, you can engage more people on your social media page and apply for sponsorships. This is how by doing smart work you can make money on social media.
12. You can make passive income by making designs on t-shirts
At the age of 23, I was looking for new passive income ideas and I figured out some profitable ideas. I’ve come across some websites online which provide the opportunity to earn pennies by creating designs on t-shirts.
Well, you can also easily get such websites where you can sign up and create designs on t-shirts. You don’t need to worry about printing the design and delivery of the product, those websites will take care of all these things.
13. Sell affiliate products related to sports to earn
I’ve seen that some youngsters are passionate about particular sports. Well, I’m not that good at sports! But in my school days sometimes I used to play cricket and volleyball. And still today sometimes I play badminton. So if you are also a sports lover then create a blog and start to encourage teenagers and youngsters to play outdoor games.
According to the research that is done by Rohnda Clements nowadays children spend less time on outdoor games. So as a sports lover you can motivate youngsters to play outdoor games. And also share the benefits of playing a particular sport through your articles. You can really earn well by sports affiliate products like cricket kit, sports shoes and much more through your blog.
14. By translating the language you can earn well
Well, even though this idea is not a fully passive income idea. But Just by working for a few hours you can make money. There are many people who want to translate their content into different languages that may be an audio or an article. So you can find such tasks on freelance job websites. So know the different types of opportunities to make money in your 20s.
15. Give tips to crack competitive exams in the 20s
After completion of my graduation, I was also preparing for competitive exams. And realized that there are lakhs of youngsters who are preparing for various competitive exams. And also they are wasting their money on unwanted books and coaching classes instead of saving money in the 20s. So if you have already cracked any competitive exam then guide others. In this way, you can also earn pennies.
Share your journey and experiences along with techniques to crack competitive exams. You can create your own YouTube channel for this.
Can every millennial earn money passively?
Well, everyone is having equal opportunities to make passive income as a millennial. So you are also having all the possible ways in front of you to make more money from various income sources. Just identify your interests and skills, even learn new skills that will help you to grow financially as a millennial.
Do you want to earn unlimited passive income?
Initially, you may earn less money through passive income streams. But this is the time when you should have patience. One can’t suddenly become rich in a day or a month by earning passive income. So it requires some initial efforts from your side to set an income-generating source for you.
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.
These passive income ideas for millennials are easy to implement practically. Saving money and earning more money both are important for financial growth. So start to implement these ideas and earn more pennies. As a millennial