When it comes to money, money makes more money. The more you have the more you can get.
That is why it is important not only to know how to make money but also how to keep it and work on growing it.
To do that, you need to spend less than what you make and avoid borrowing too much.
You should invest in assets that will produce income for when your job becomes obsolete or for when the economy goes into another recession.
How money makes money?
Money makes money. It’s a simple and powerful phrase that points to the truth.
The truth is, there have always been people and organizations with money who have gone on to make more money, and they have done so by doing nothing more than sitting back, letting their investments work for them.
This is called passive income or income that someone earns without almost doing anything for it in the long-term.
But before diving in, how people make money online in 2022?
There are 4 main categories to make money online which come in:
- Selling a service
- Selling a product
- Selling knowledge
- Promoting or marketing
The king of online skills is selling. If you could master the art of selling, opportunities to make a fortune online are abundant.
The second high income is marketing. And I’m mainly referring to affiliate marketing. This online skill if it’s done professionally, you can become a millionaire in less than 6 months.
Making money online is heavily related to habits than skills.
This blog post will show you how to get started with your own passive income plan.
Here we go…
Do you want to be broke and poor when you have no one to take care of you?
This will definitely happen to you if you don’t have a passive income and there are billions of people with the same issue.
There will be billions of people who will go broke and too old to work. And this bound to happen in all developing and many developed countries.
Reasons to Build Different Passive Incomes
Do you want to end begging on the streets of India, Africa or South America?
Do you want to beg for each penny you get from people who do not even know you?
They will definitely not love you and you don’t know them. And many of them would end up in organized crime in the form of beggary gangs.
They would give kids drug and make them a tool of beggary while using drugs as a tool to keep the kids asleep.
A terrible situation for someone to live when they do not have any food except what the gang managers would give them. They do not have any rights and they would sleep on roads.
You must be reading this in a cozy bed and thinking what is this guy even saying? One thing for sure, this article is not for someone who wants to be a beggar before they die.
So, read it or feel the music of the cold world that would not care about you once you are no more. So, here is the reason number one.
1. Money is Source of Happiness
Is money a source of happiness? Yes, it is! And the early you understand it, the better it is for you. The only solution for you is build different passive income sources.
What is Passive Income?
Passive income is the state of earning, on an ongoing basis, income without having to generate the work continually.
This money could be coming from affiliate marketing, Google AdSense, working for someone else’s business, renting out space in your home or achieving other ventures you’ve set up regularly.
2. Benefits of Passive Income
Passive Income can help with goal setting by showing you how much money is available if it were happening now, meaning that goals seem attainable and possible.
It can also show a pattern as to what you need to do or ensure continues happening so that those goals are met – saving time from hunting for these opportunities as they come up.
Watch this video to get a better idea of how you can also create multiple sources of passive income:
3. Money is Your Responsibility
If you are thinking that you can rely on the money of your son or some other relative, you should be super sad about it.
There are so so many reasons there is no point in doing it. This might help happen to many in the world, but if you are relying on your son’s future money or thinking that But why would you like to rely on another family?
They will definitely be people who have their own problems to solve and a struggle to carry. You must know if something can help and you retire with honor and not dying with leaving bills and loans to pay.
This can be your death, when you leave a wife, a house to pay mortgage for, utility bills to pay and no assets and only liabilities to that would drain out all money from your family, that if any remaining.
Make sure that if you live old enough that I hope you do, that you have something to rely on. In the time when there is not even a penny in your pocket. Be aware, the closet relations would also start to getting deviated.
There will be no need for you anymore, instead you may become someone no one likes anymore. Your life can be miserable especially the people you are relying on do not care about you.
You would not only hating yourself, but also your life. When you are living a life like a bug that has no value and no love coming in and no position.
Don’t be just depressed here. But, understand if you do not make a passive income today, you are going to suffer in 60s and 70s.
Who knows how long you live, but do you like to be a pathetic creature who does not have any value?
Would you like to leave this world while people hating you for how unsuccessful you were?
4. Even Your Wife Won’t Like You
I am not saying that your wife will hate you, but would not you like these:
- Taking her to the most amazing dinners.
- Gifting her the best stuff you would love for her.
- Celebrating her birthdays and your anniversaries with amazing environment.
- Trips to the most exotic places in the world.
- Making her happy for the jewelry and houses you can buy.
- Buying her an amazing car that she would remember as a gift on valentine’s all her life.
- Being happy with all that you can get from money before you even you choose a wife.
5. Wouldn’t you Hate These To Happen?
Before you start, these are the most pathetic things that can happen to you. Therefore, read them with strong heart. But, DO READ, as you would never like to be this PATHETIC for your wife:
- You do not have any money to spend for your food.
- No money remaining for your medicines.
- You do not have any money for your trips to new places.
- You have nothing to support your family.
- You can not afford your children’s education
This is not it, there are so many other things that you would regret for not having done. This can make you think that there was no reason for you working hard for peanuts and being happy with it.
You must make a difference now. As people do not wish to work hard now and if they don’t it is easy now or hard later. Or the easier thing is hard now and easy later.
Take Away
In short, passive income is important because it provides financial stability, security, and freedom.
Furthermore, because passive income is not limited by your time or effort, it can have a positive and significant impact on your ability to accumulate wealth for long periods of time.
Do you think you’re one of those people?
Best Passive Income Ideas 2022
The best way to make money online is to do something that you love. If you want to create passive income online then read on!
There are many passive income ideas that can be tapped into. Investing in a real estate is one such example.
New businesses, such as franchises are also some of the options available to invest in for generating passive income. Here are some:
The thing about passive income is that the money earned is pretty much like a bonus. And with this bonus, you can enjoy doing what you love without the stress of added employment hours or responsibilities.
Passive income is money earned without much effort, time, and cost. It’s called passive because you don’t do anything to earn these funds; they just flow into your account and have been built over many years.
The following are some examples of ways people make passive income.
List of Best Passive Income Ideas
Those who have been in the work force for a while may have seen their wages stagnate or even decrease. They may have also noticed that their expenses are increasing faster than ever.
This is because the cost of living has increased in most cities and it is becoming more expensive to maintain a family, despite an increase in income.
One solution to this problem is by earning passive income, which doesn’t rely on your time to generate revenue.
See also: how to earn your first dollar from the internet.
1. Create a Blog
Blogging is becoming one of the most popular online businesses thanks to platforms like WordPress.com, Blogger, Medium and Hubspot.
These sites offer free services, and you may even use them to create a personal website or professional blog at no charge. If you know how to write well and enjoy sharing advice, then starting a blog could be perfect for you.
Once your blog starts making money, you may decide to stop working full-time or reduce your workload to spend more time blogging.
You never need to worry about generating traffic as your blog will do it automatically.
However, if you want to get started with a reliable platform before launching your own site, check out Bluehost’s 30-day risk-free trial.
2. Rent Out Your Storage Room
If you live in an apartment building, you have probably seen those people who leave their storage units open for rent. You may not think twice about leaving the doors unlocked and letting strangers access your space.
But what happens when you move? Do you lose all the hard work you put into organizing your belongings?
Of course not!
There are websites like Airbnb where you can list storage units you no longer need or want to rent out. Then, using various smartphone apps, guests search for spaces they wish to rent.
When someone is interested, you agree on a price. Afterward, you receive payment via a secured web portal and pay taxes on the earnings.
3. Amazon FBA
Amazon Fulfilled By Amazon (FBA) is a program run by Amazon where you can sell products you make yourself in your home garage. You pick the product, pack it, ship it, and fulfill orders – basically everything except customer service and selling.
And since you’re paying for fulfillment, you might actually end up saving money as opposed to paying employees with wages.
4. Sell Photos
Selling stock images is a pretty lucrative business. People often use stock images as backdrops on their websites and blogs. They also use images to promote their own products as advertisements.
Stock image providers sometimes let stock photographers sell their images directly to advertisers.
That means you don’t have to spend time searching for clients or collecting payments. Instead, once you shoot an image, you can instantly begin earning money on its resale.
5) Affiliate Marketing
Affiliate marketing works well if you have a popular blog or website about a niche topic.
Then you can sign up with affiliate networks like Commission Junction, LinkShare, Awin, Partnerstack ,ShareASale, etc. to promote affiliate products.
You can get paid per click, per lead, or per sale. It’s pretty straightforward and requires little time investment.
6) Ebooks
I sell e-books on Amazon KDP. There are many different ways to write an ebook. You can write an eBook in Microsoft Word or Google Docs and upload it to Amazon KDP.
Or you can use a platform like Authorea (which is free) where you can write your entire book using Markdown syntax. An ebook takes much less time than writing a traditional book and does not require any editing.
7) Online courses
You could teach people how to learn anything online. You don’t need to know anything. You just provide a list of links to videos, podcasts, and readings.
There are hundreds of companies looking to hire teachers right now, including TuteVity, Teachable, Skillshare, Udemy, and Thinkific.
Read also: top 10 side hustle ideas to make money easily in 2022
Conclusion
There are many easy passive income ideas ahead of you. We could earn money by being a social media influencer, being a brand ambassador for various companies, photography gigs or even blogging on a platform like this.
And we also need to remember that with changing technology and the rise of robots, people may have to spend more time on creative thinking and coming up with new ideas.
In this way, they can come up with new business ideas and passive income streams too.
Money makes money is fact-proven financial plan to make more money.
Investing in stocks, build long-term automated businesses like YouTube, niche blog or online courses can definitely help you build high profitable passive income streams.
