What is Passive Income?

Passive income is the new gold mine for millions of people across the globe. In the past years passive income was the ‘rich people’ business, today with the introductions of modern technology and new industries, passive income has become every men’s desire. If anyone says they are okay not earning while they sleep or on a vacation, they probably not aware of what passive income is and how it can help them change their lives. Imagine the lifestyle you would live if you had a passive income stream, wouldn’t it be great to work whenever you want to work. That is the lifestyle of a passive income earner; independence, financial freedom, earning on while you sleep, trips and holidays.

What is Passive Income?

Passive income is money you earn that doesn’t require you to do a lot of “active” work to continue making it. You’ve probably heard the expression, “make money while you sleep.” That’s the biggest draw that entices people to earn passive income. In essence, you can do most of the work upfront and put some additional effort along the way to earn an income.  For example, if you create an online course, you just need to update its content to keep the money flowing. You can create something (a blog, course, eBooks, videos, or an online store) that generates money even when you’re not working. Or you can make passive income investments (property or stocks) that allow you to earn passively.

For years the average person assumed that to earn passive income you have to be rich or invest huge sums of monetary investments. This assumption created a stereotypical community that shy away from investing into earning passive income. This is why we have complied a list of passive income ideas one can start in 2022 without or with minimum capital to help you understand and know that it is indeed possible to start earning passive income with minimum investment.

Blogging

If you have been following and reading my past publications, you might have by now noticed how passionate we are about blogging. Blogging one very great way to earn passive income without investing so much money. Blogging is a great way to express your self, share your story, connect and engage with massive global audience. It is also a great way to make passive income sharing about the topic you are so passionate about. Getting started with blogging is super easy, even a teenager can start blogging in just a few minutes. Many blogs start as a hobby and develops into a business as the audience and income of the blog grows. Learn more about blogging before jumping into the business, although their is no prior skills, education or experience requirements, learning the ins and outs of blogging would go a long way helping you start making income sooner. Once you have mastered the basics of content development, find an niche you are interested in sharing about. Setup is quite easy with platforms such as WordPress, Blogger and other sites. Read more about blogging by reading; START A MONEY ENGINE BLOG NOW.

Data Products

It is no secrete that over the years data has become very essential to corporations that they are willing invest billions of dollars into data products. The simple and easy to understand and remember definition of data that even a teenager can understand is “information”. Yes, data basically means information and by data products, we mean informative products. Informative products are business offers that provide information too consumers. The list of informative products examples is long and three good examples of data products are software, application, and E-books. Informative products are a great way to earn passive income and they require little to no monetary initial investment to develop. Think of your old notes; if you turn your notes into an E-book and publish it on Amazon Kindle you could make a lot of passive income, without doing any active work after publication.

Rentals

When you speak of investing into rentals a lot of people shy away and make one common excuse, ‘I don’t have start-up capital’. Well, the truth is rentals do not require a great deal of start-up investment as you could start the business with what you already have and grow from there. Anything may be rented these days from your second car to those garden tools in your storage which you barely use. I myself started investing into this industry recently and I am still building and growing my investment portfolio in the industry. The rentals industry is fast growing, the returns are very high and offer minimum business risk and great growth potential.

Selling Ads Space

The advertising industry is very big, fast growing and corporations are investing huge sums of money to their brand’s advertising campaigns to reach more potential consumers and create awareness. A business selling ads space is a great passive income business idea to start in 2022. The business can be fully offline or online and may also be both offline and online. Offline ads space may be space in a newspaper, magazine, storefront signage and even road side signage. These are all great offline ads spaces you can sell and earn passive income. Online ads space is almost similar to offline, the difference is online sells digital ads space. There are many online platforms and ways to sell ads space online, one of them is one we use to generate most of our revenue. Google AdSense is a great way to monetize your digital content and make passive income without paying a single cent.

Self-Publishing

It is easy to assume that people nowadays do not read nor buying books, when yourself do not read nor buy books. The truth is the advancements of technology has made people read a lot as books have become much easier to find and purchase. Self-publishing is one easy and fastest way to get your content published and cuts out the cost of using publishing companies. Self-publishing is free and has no experience requirements nor complicated processes. Although their are no upfront fees to self-publishing there are cost you will be required to pay from your profits after your book is sold.

Conclusion

Indeed starting a passive income stream with minimum to no monetary investment is possible. The list we complied covers only five passive income ideas and the list is very long. Please help us and our community by sharing on the comments section more ideas you want us to cover in our next publication or that is not on the list about.