The ongoing pandemic has affected almost all of our lives. Are you among the many who are struggling to manage your everyday expenses? Well, in a world where your job is considered to be the most uncertain thing in your life, having multiple streams of income is a must.
Even after pursuing your primary job, passive income is that source of money that helps you fulfill your additional needs and desires.
Who does not want to build wealth? You surely want to save enough of your present earnings so that you can meet your retirement goals.
What is passive income?
An income that you receive from a source other than your primary job can be referred to as passive income. In other words, passive income is your regular earnings from a source other than an employer or contractor.
What are the jobs that can drive this passive income?
Now that we are aware of the concept of passive income, let us know about a few jobs that can act as a great source for your passive income.
- Blogging or YouTube Channel
Passionate about something in your life? It could be anything from a subject to a travel destination. One best way to live your passion besides being in a primary job is by turning your passion into a blog or a YouTube channel where you can use advertisements and sponsors to generate your income.
All you need to do is, find a field that inspires you and become an expert and skilled in it. Next, you start your own blog or a YouTube channel dedicated to that field. It might be difficult for you in the beginning to attract a good number of audience but it can create a steady income stream as time passes.
- Affiliate Marketing
According to a survey, there are 3.80 billion social media users in January 2020, with this number increasing by more than 9 percent (321 million new users) since this time last year. Thus, this clearly depicts the value of social media presence in the market today.
In short, with affiliate marketing, website owners, social media “influencers” or bloggers promote a third party’s product by including a link to the product on their site or social media account. Affiliate partners like Amazon, eBay, Awin, and ShareASale are greatly known for this.
Instagram and TikTok are considered to be the best platforms for these affiliate partners to promote their products and services.
- App Designing
In a world where we are completely dependent on online services, we all are aware of the importance of smartphone apps. Creating an app can be an amazing way to make that upfront investment of time and then reap the reward over time.
All you need to focus on is creating an app that can attract your target audience and just wait for the app to automatically generate sales. Just like blogging and YouTube channels, here you might run in-app ads or you can have a nominal fee for downloading the app.
- Sell Stock Photos
We all are fascinated by the amazing pictures we get to see on our favorite websites, blogs, and even magazines. Ever wondered how they get access to such pictures? If you are passionate about photography, then, you can also make it a source for your passive income.
Those amazing pictures are actually bought from stock photo websites. Thus, all you need to do is submit your photos to stock photo sites and receive a commission every time someone purchases one of them.
- Confined Space Training
Confined space training is referred to the skills and protocols for safe entry to confined spaces that include hazards, risks, and precautions. These spaces consist of pits, tanks, wells, sewers, tunnels, pipes, boiler, silo, etc.
We are aware that confined space accidents are a matter of concern in several industries due to their risk. Thus, being a confined space trainer acts as a source of passive income. Though it asks for risk-taking it can generate a lot of income for you.
Over to you…
Here was a list of a few jobs that can drive passive income for you. What are you waiting for? Go and choose the ideal job for you and put in a little more effort to generate some extra income for yourself.