Most people have only 1 income stream. But did you know that most millionaires have 7 income streams? Everyone has 24 hours a day, and one of the best ways to earn money is by building additional passive income streams. In this video, I’ll share with you 9 different ways to make $100 passive income a day.
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0:00 – Introduction
0:47 – YouTube
YouTube is one of the best forms of passive income out there. You just need to put in all the work at the start, then it will earn money for you indefinitely as long as YouTube doesn’t shut down. Everyone is good at something, and you don’t have to show your face. You can film your journey to work, create tutorials to teach people how to play a game, film yourself studying, playing piano, cooking, reading children books, sharing personal finance tips and so many more.
2:37 – Create Online Course
If you are good at something, why not make a tutorial to teach everyone on the internet how to do it, and make some sweet sweet passive income money along the way. Maybe you are good at iOS programming, you can create a course to teach people about iOS programming. Or you are good at photography, you can teach people how to take good photos. The 2 most popular online course website are Udemy and Skillshare. Having to create a few hours course may seem like a lot of work at the start. But after you upload your course, everything becomes passive, earning money for you while you sleep.
3:27 – Affiliate Marketing
You promote services or products, and when someone signs up for the service or buy a product using your link, you’ll earn some commissions. For example, I made a video reviewing TigerBrokers, and many of you signed up using my referral link. As a result, I got over $200 in just 1 month. Or you could create a video to review the latest Canon camera, then share the affiliate link from e commerce sites like Qoo10, Shopee, Amazon. Most of the people who are watching your review are already interested to buy the camera. If your video convinced them to buy, they might buy the camera using your link and you’ll earn some commissions.
4:30 – Sell Merchandise
As long as you know how to use a computer, have some design ideas, you can sell merchandise. You could use a method call print on demand. If a customer buys your t shirt, your supplier will only print it, package it, and send to the customer directly, all without having you to do anything.
One of the more popular way to do this is with Shopify & Printful.
5:52 – Patreon
Patreon basically allows your fans to donate money to you to support your work, and you can give them something in return. For example, you can give your fans early access to your latest videos, behind the scenes footage, or even share up to date buy sell transactions for your stock portfolio.
6:41 – Stock Media
If you like taking photos, filming timelapses, designing cute characters, you can create stock media for passive income. Then you can upload your stuff to stock media websites like Etsy, Envato Elements, Story Blocks. Whenever someone downloads your stuff, you will get paid a small commission. The demand for these stock medias are getting larger and larger, and it is much easier to do compared to doing YouTube videos.
7:36 – Dividend Stocks
If you don’t have time, you could invest your money instead. And one of the easiest ways to invest your money is by investing in dividend stocks. By buying and holding dividend stocks, you will receive dividends periodically. Dividends are more resilient during market downturns and they have the power of compounding.
9:42 – Robo Advisors
If you don’t want to pick stocks yourself, you could invest through a Robo Advisor. All you need to do is just open an account, answer some simple questions, like what’s your goals, what’s your risk tolerance, then it will generate a portfolio for you. You also do not need a large amount to invest with a Robo Advisor.
10:52 – Rent Our Spare Room
If you own a house, have a spare room, and don’t mind a friend or a stranger living together with you, rent out your spare room. However, do check out HDB rules so you don’t get into trouble.