Active income is income earned by working actively on a job or business and earning a monthly paycheck or profit. Passive income is what you get without doing active work. You can get passive income as interest from bank deposit or dividends from stock investments, and so on. But can you get a passive income with no money? Read on to know more.
Earning passive income
If you have money, you can invest it in real estate or bank deposit or stocks, and then earn money from it. You need to invest once and then keep earning passive income in the form of rent or interest regularly. For this, of course, you need to have money. If you do not have any money, you can still create passive money. You can do this by investing something much more valuable than money – time!
Investing your precious time
You can invest the spare time you have to carry out a profitable activity and earn money from it. Once you complete your day’s work, the remaining time is free time. You may spend that time in entertainment or rest. If you can devote a few hours of it, you can easily be able to create passive income without investing any money. Let us look at a few ways of doing so.
Write a kindle book
If you can write then you can create an e-book easily. Writing and publishing were considered extremely difficult. Writing itself was a laborious process and then convincing a publisher to publish your book was a Herculean task. But today if you have an area of interest or a niche topic, you can write and then improve the results of your writing using online tools. Getting published is not a problem, thanks to self-publishing options.
Once your e-book is ready, you can sell it on Amazon for Kindle under the Kindle Direct Publishing (KDP). You need not spend any money on it. Write on a topic you are familiar with, make an e-book and upload it using KDP. You can earn a royalty of 70% of sales[i] from Kindle books if you price it between $2.99-$9.99. This is a great way to earn passive income with no money.
Sell your study notes
If you are just out of college and have been a good student, you would have quality notes for all the subjects you have studied. You can sell the notes and earn money from it. There are platforms like Study Soup which allow you to sell your notes online. If a student likes the sample notes you upload, they would be happy to buy it as it saves time and effort. A simple way to earn passive income.
Participate in online surveys
There are many online survey sites where you can participate in surveys online. You get points for the surveys you complete. You can redeem your points for gift vouchers or cash. No investment needed – just spend some time filling surveys and you get passive income.
Earn money on the internet
If you have a skill, you can encash it on the internet. You can cook a new recipe or sing an interesting song or show a demo of something interesting. Upload on YouTube and if people like it, you can become a YouTube star. A 7-year-old makes $22 million[ii] just by posting reviews of games. If he can do it, so can you. There are umpteen avenues to make money on the internet, and there is no investment needed.