If you can obtain it, passive income is a fantastic asset. Who wouldn’t desire the opportunity to “make money while sleeping”? Unfortunately, I viewed my time in school as a money funnel that sucked all of my savings and student loans into a drain known as “academics.”
So, kudos to you if you intend to make money while a student! I will discuss some passive income concepts that I believe to be viable. Not included are activities such as completing surveys or working a part-time job, as these are not passive by definition.
How do we generate passive revenue? The well-known rule of capitalism is that you have your labour, money, and assets to work with. If we’re discussing passive income, it’s typically a matter of putting your money or your assets to work, as opposed to your time. The well-known difficulty for students is that they have little time to work and likely have little money or possessions.
You must be inventive. This is the essence of what we do here.
In this piece, I will you 10 REAL student passive income options. Each of these can make you money if you play your cards correctly, but setting them up may take some time.
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1. Student Rentals
If you own your dwelling… Let’s face it, if we’re being realistic, you probably don’t. If you do, kudos!
However, even if you RENT a two-bedroom flat from a landlord, you might be able to rent out the second room. If you are renting and have a living room, is it possible to advertise it on Airbnb with a couch bed?
Real estate is consistently one of the best sources of passive income, but if you don’t have the capital to invest in rental properties, you may need to get inventive.
Consider the spaces that you own or, more likely, rent. How can you use those to make money? You purchase them. In some cities, the cost of rent is likely exorbitant. Therefore, you might as well profit from them.
2. Storage rentals
If you have additional room or a basement, for example, you can offer it on our website and rent it out on a month-to-month basis.
It’s a fantastic method to generate passive revenue from space you may have sitting there anyway!
3.Rent out your home for photoshoots.
I believe this is a fairly fantastic approach to monetize your place. Would you believe that there are individuals searching for locations to rent for photo and video shoots? Whether your apartment resembles a refurbished factory or a high-rise with a wall of windows, there is a significant possibility that it would be ideal for someone to rent.
And in the worst situation, you may list it and see what transpires. Spacefy is a well-known choice.
4. Create a blog
I acknowledge that I am a senior millennial. Therefore, if you are a member of Generation Z and are reading this, you are probably thinking, “WTF, old man? Start a blog? What year is it, 2004?
I believe beginning a blog is still a good idea because search engine traffic has remained a constant on the internet for the past two decades. In contrast to every other social media network except YouTube – more on this in a moment – starting a blog creates an Internet place that you own.
Depending on the month, I make anything from $250 to $2,000 each month in passive revenue from this site.
If you play your cards well, when people search for things, they will find your website. (You can also utilise Skillshare to learn a bit of SEO to boost the likelihood that your site will be discovered. If you don’t already have Skillshare, you can get a free week trial here.)
The majority of bloggers generate passive revenue through the sale of courses, participation in affiliate systems, and eventually advertising. If you want to be extremely strategic, choose a blog topic with a very high rate of return for affiliates. High-priced merchandise and consumer goods, as well as travel, personal finance, and online business, are all attractive affiliate marketing categories.
5. Develop a web-based course
You can consider establishing an online course on websites like Udemy or Skillshare, as I indicated previously. There are no upfront fees; you simply create a course and leave it there.
This makes an online course an excellent passive income source. However, it must be a respectable course. If you are concerned that you have nothing to teach, you should reconsider. The greatest online courses may cover everything from how to snap amazing photos with a smartphone to how to correctly apply makeup to how to write a rap song.
When a new application is released, you might quickly master it and produce a course on it if you truly want to get an advantage. That indicates you are on par with everyone else.
6۔ Create a YouTube channel.
YouTube is a search engine, which is something I appreciate more than any other social network. It is the second largest search engine in the world. Therefore, if you create a video now and upload it, people can still find it years later.
Because of this, it is a possible source of passive income. Even if you only produce one excellent video every week, your channel will grow. And if you focus your channel on a very specific niche, whether educational or humorous, it will develop. (Utilize Tubebuddy to conduct keyword research; it will assist you in creating videos that are successful)
Your YouTube channel can be monetized through paid subscriptions, the sale of merchandise, and, oh yeah, the teaching of a course.
7. Lease used textbooks
If you have unused textbooks laying around, you might be able to rent them out. You know, the stupidly expensive ones you bought for that course but didn’t even use.
There are numerous sites that accomplish this, and the College Investor has compiled an excellent list.
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