How to Make Money While You Sleep
Living Life. Digital
Wouldn’t we all be better off if the cash was rolling in while the sandman was bringing us dreams? Of course this should be everyone’s goal, but most don’t think it’s attainable. Learning how to make money while you sleep is the holy grail of income earning and isn’t as difficult as you might think.
This type of earning is known as passive income. To achieve it you must set yourself up by putting the hard work in at the beginning, which allows you to reap the rewards later. If you decided to take off two months to travel across the world money would still be flowing .
Active income on the other hand only comes in when you are actually working for it day in and day out. Most people fall in this category by working a 40 hour per week 9-5 job.
If you’re ready to learn how to make money while you sleep, then read on. Here are the top 5 ways I earn passive income
Stock Market
It has never been easier than right now to get acquainted with the stock market. In the early 2000’s tapping into the market seemed like a daunting task. Finding a brokerage, meeting with them, paying fees etc. It was a big turn off. Now you can download an app on your phone, see all the markets at your convenience and put in as little or as much as you want.
Some companies pay out their shareholders a dividend as a reward for holding on to their stock. If a company pays a dividend of 5% per $100 you spend, you’ll ultimately earn $5 per year. This isn’t life changing money but remember that if you buy a stock for $100 it could one day raise in value to $500 per share.
Someday living off the dividend earnings from your investment isn’t out of the realm of possibility either.
A good platform to get started with the stock market is Robinhood, especially if you plan on holding your investments long term. It’s an easy to use beginner friendly app. If you use the link above you’ll get 1 free stock up to $500 value. If you are looking for something more advanced so you can trade more frequently the Webull app may be your best bet. They offer 2 free stocks. 1 for signing up and another for funding your account. Both apps have 0 fees.
Cryptocurrency Market
Yes, cryptocurrencies are risky but the rewards can be massive. In this example I’ll show you how to make money while you sleep, from the crypto market. I’ll also show you a bonus way to earn free crypto.
So heres the deal. Cryptocurrencies are the future and now is the perfect time to dabble and make some passive income. With the Coronavirus taking over the world and germs being spread like wild fire. It is only a matter of time before a digital dollar is created and dirty paper money is a thing of the past, but I digress.
Like the stock market, some cryptocurrencies reward you for holding their coins/tokens. This is called staking. Some crypto’s will pay you as much as 15% or more for riskier assets. When the value of the coin/token rises you can sell it for a profit as well. Tezos is currently a top 10 cryptocurrency and pays out 5.86% while Icon is a top 50 coin and pays 15.84% rewards. Tezos can be purchased at Coinbase and Icon at Binance.us exchange.
Another way I earn free cryptocurrency is by using the Brave internet browser. It blocks ads and trackers all while loading web pages 3-6x faster. It pays me in Basic Attention Token (BAT) for viewing some ads at my own free will. I’m currently earning $5 worth of BAT a month. If it gets back to its all time high in value, those same tokens could be worth close to $30.
I realize that cryptocurrencies are a foreign concept to many of you. If you have more interest in learning about the crypto market, please comment down below. I would be happy to steer you in the right direction.
Affiliate Marketing
Affiliate marketing is when you recommend a product or service to your audience and get paid a commission when they purchase.
Most affiliate programs pay out a small one time commission. To really earn a significant amount from this you’ll likely have to constantly be creating new content around the subject. The real passive income comes from the affiliate programs that payout monthly as a subscription service.
Some such programs include Thrive themes for WordPress users, email marketing companies like Aweber and GetResponse and hosting from Rose Hosting.
I personally promote a service called Builderall.. This is an all in 1 platform for designing websites, sales funnels, email marketing, digital magazines and a ton more. They payout 100% commission the first month for all sales and a recurring income of 30% each month after. The best part about the program is it is free to promote and earn.
Course Creation
Making a digital course can be very lucrative. It can be done in any niche as well. People want step by step instructions on how to get to their end goal as quickly as possible.
If you can leverage your social media following selling a course can be easy. Even if you have no following you can take advantage of platforms like Udemy and Skillshare. Both of these websites have a ton of daily traffic, so you don’t have to worry about having a large following.
Builderall actually offers an e-learning platform built in to their services. Essentially you can self host the course and even set up your own affiliate program to payout others to promote your course.
Web Design
I’m sure most bloggers don’t mention this as a source of passive income. I guarantee you’ll be blown away at the results though.
I know, web design sounds like a daunting task and it could be. You essentially have to set parameters on what businesses/individuals you are willing to work with.
For instance, tell your clients that you will design a basic 1-5 page website. The key word here is BASIC. With website builders these day you could have a site finished in a matter of days. Just for the design alone you could earn hundreds of dollars.
So where does the passive income come in, you ask? This is where you offer to host the site yourself. I can’t speak for Wix or Squarespace, but I can say Builderall lets you use their platform as an agency, where you can host up to 15 websites on your account. You can charge a monthly hosting fee at whatever price point you think is reasonable.
With a basic website there will be very few updates, if any. Remember, you aren’t providing a blog or sales funnel, or email marketing, just a basic web presence. Of course you could charge even more for these services if you you wish.
I hope this article helped you learn how to make money while sleep. I know i’ll be sleeping good tonight.
Let us know in the comments section what your favorite passive income sources are. If you would like to read the article Top 5 Side Hustles of 2020, check it out HERE.