9 Best Passive Income Ideas- $1000 Per Month Working From Home

Written by : Fazila Azeem
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In this article, you will learn about the 9 best passive income ideas if you are looking to make $1000 per month or more working from home.

Some of them are semi-passive while others are completely passive. That means there is a varying passive nature and you can pick any idea that aligns with your goals and daily routine.

Having a steady flow of passive income alongside your regular job is always an excellent strategy, especially when you are at the risk of losing your job anytime due to unforeseen circumstances like fluctuations in the economy, global events, or the business downsizing cycle.

Ready to learn?

Let’s get started. 

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What is Passive Income

 

Passive income is a source of income that is not directly tied to time. This is all about the classic make money while you sleep notion.

While everybody is looking for ways to make passive income, there are a lot of scammers or so-called “make money Gurus” telling you that they have discovered a “become a millionaire in the next month” secret method.

There is no such thing as called get-rich-quick secret. Creating a passive income and making it sustainable to generate money for you while you sleep takes time, learning the real skills, and staying consistent for a considerable amount of time.

Money is a tool for exchanging value. You get paid for providing some sort of value.

So, now that we have set the preset of making passive income, let’s dive into the 9 best passive income ideas to make $1000 per month or more working from home. 

If you like this post, then make sure to save this by saving the below image to boards related to Passive Income on your Pinterest profile. . Let’s spread the good!

 

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passive income ideas

1. Stock Investing 

Investing in stocks is perhaps the easiest passive income source to start.

Why?

Because you don’t really have to learn deeply how the stock market works, which stocks to buy, when to buy, when to sell, and all that techy stuff that you might want to skip.

So, the way it works is to hire a reputable stockbroker and invest your money into index funds.

Index funds are owned by S&P-500 companies (the top 500 companies in the US). These are the giant names like Google, Microsoft, Apple, Facebook, Tesla, along with many others you’ve probably never heard of.

A downside of this passive income idea is that you need to have some savings that you are willing to invest into these companies and let it stay there for 5 years or so.

Let’s say you want to make $1000 per month, then roughly you need to invest about $70,000 into these companies. Now, depending on your circumstances, you might be able to invest less or more.

The S&P-500 stocks have a track record of doing reasonably in the long run. On average they grow about 10% every year, which is great.

Well, stocks don’t grow at 10%, always. Stocks go up and down. But overall these companies are growing over the years, so investing in their stocks is not that much risk. 

Difficulty To Start & Maintenance: 

It’s really not that hard to get started. You need to hire a trusted broker in your country and invest in these stocks. The only difficulty is to save some money and let it stay in these stocks for 5 years.

Making $1000 per month is hard for most people since saving $70,000 by keeping it in the stocks is something that not everybody can do.

Maintenance is probably the easiest one. Once your investment starts rolling out passive income profits for you, you can let the money stay there and keep receiving the profits.

You may even invest more to make more. That’s up to you.

 

If you like this post, then make sure to save this by saving the below pin to boards related to Passive Income on your Pinterest profile. Let’s spread the good! 

passive income ideas for beginners
passive income ideas

 

2. Starting A YouTube Channel

 

Now, starting a YouTube channel is an intimidating passive income idea for many people. Since, it relates to filming yourself, speaking into the camera, creating amazing videos for 6 months or a year, and all that.

To be really honest, my husband had started a YouTube channel with the name “Shockproof Entrepreneur”. He shares ways to make money online, starting an online business, and passive income ideas.

(here is the link if you want to check)

He is a real camera-shy person. So, after trying for a few weeks, he stopped filming himself in front of the camera. Now, he is planning to create faceless videos for this channel.

YouTube is a great way to promote your business, or just teach stuff and make a decent side income.

People come to YouTube to find solutions to their problems, get inspiration, learn new skills, get entertained, etc. The goals are endless.

By teaching them the skills that you already have, or just sharing your life events, or making funny videos of animals, you can make a full-time income.

But it takes time and effort to start making some money. You need 1000 subscribers and 4000 hours of watch time on your channel to get monetized for your videos.

By the way, if you don’t want to film yourself on camera, but still want to make this your full-time business, then this free training might be perfect for you.

You will learn how you can make a full-time income with faceless YouTube channels.

This is an underground opportunity that very few people are aware of and actually doing.

 

Difficulty To Start & Maintenance

 

It’s really hard to start a YouTube channel as you have to create and post videos consistently for 6 months or more.

But once you get monetized and start making money from ad revenue, then your income is expected to grow exponentially over time.

Making $1000 per month is not difficult. Since on average YouTube, AdSense program pays $2 for 1000 views. So, to make $1000, you need 500,000 views every month.

500,000 views a month seems like an impossible target. But, it’s not. After you have mastered the algorithm and attracted views with viral videos, it’s really simple.

1 viral video in a month can bring in way more views than 500,000.

So, maintaining that momentum is not really hard. If you plan to start a faceless YouTube channel, then this Free Training will teach you step by step how to do that and start more channels to multiply your income.

 

passive income ideas

3. Starting A Podcast

 

A podcast is an audio series of recorded episodes available online for download. Its popularity has been growing over the past few years.

Just go to anchor.fm, riverside, or any online platform to start your own podcast.

Growing a podcast is difficult since there are way fewer podcast listeners worldwide than there are YouTube viewers.

You can start a YouTube channel to feed listeners to your podcast.

How do podcasts make money?

Well, podcasts are monetized using brand deals or sponsored content.

On average, brands pay you $18 for a 30-second ad.

You may also make $25 per 1000 listens or downloads of a 60-second ad. That means to make $1000 a month, you need 40000 listens or downloads every month.

 

Difficulty To Start & Maintenance

 

Starting a podcast is not easy. You can just grab your smartphone and start talking. If you can invest a little bit into a professional microphone from Amazon, that would be great. Otherwise, it’s not mandatory.

Monetization is easier than YouTube since there is no threshold for subscribers or downloads etc.

Once you start getting money and you have a proven formula that works, maintaining and scaling your income is just a matter of creating more podcasts that move your listeners.

affiliate marketing

 

4. Affiliate Marketing

 

Affiliate marketing is referral marketing in which you promote products of other companies or people and get paid a percentage of the sale when someone buys the product after clicking your link.

It’s a $12 billion industry globally and it’s growing every single year.

Most of the companies today have an affiliate program and that makes sense. Since they will get qualified customers for free and they just need to pay the affiliates a portion of the sale.

Amazon has the largest affiliate program in the world because of its huge customer base and brand recognition.

People go to places like Google or YouTube and search for reviews and information about the product they are interested in.

Here come the affiliates. Their content gets explored, people get educated about the product, click their affiliate link and buy the product. Boom! Commission earned.

Please note that physical products have very low commission rates like a typical 2 to 3% on Amazon. Digital products like software, online tools, courses, coaching programs have high commissions like 20%, 30%, 40%, and more for affiliate sales.

Affiliate marketing promoting digital products is a great way to build multiple passive income streams once you know how to do it right.

Spencer is one such guy who was able to crack 7 figures with affiliate marketing promoting digital products within just 3 years.

There is free training done by Spencer (a 7-figure affiliate marketer) in which he shares his exact strategies, tools, and steps that he used to grow his affiliate marketing business to 7 figures, as a complete beginner and average guy.

 

Difficulty To Start & Maintenance:

 

Affiliate marketing is difficult to start since you need to create content consistently for at least 6 months or a year to build an audience and then monetize that audience.

Once you start making commissions and you have figured out what type of content brings clicks and sales, then you can follow that pattern to make even more sales and scale your business.

make money selling digital products

 

5. Selling Digital Product

 

Selling your expertise in the form of a digital product is an amazing passive income idea.

You have to create the product once and place it online where people can access it, pay for the fee, and download it. Everything will be running on autopilot.

That’s amazing. Right?

People buy digital products ranging from ebooks to cooking recipes to software subscriptions to website templates. Anything and everything that has some sort of value and application in the real world.

You can sell DIY home decor concepts, artwork, wall paint templates, prints on fabric (printful, teespring, cwondemand, etc), graphic designs (Fiverr, Upwork, freelancer, etc).

 

Difficulty To Start & Maintenance:

 

It’s relatively easier to start. Since writing an ebook about a topic or creating a software product is not that hard if you are in that particular space.

Getting the first few buyers and getting the message out involves marketing strategies that you need to learn to make your digital product successful.

Maintaining the income is way easier than YouTube, or podcast since it’s easier to tweak little changes to an existing product than to create a new one.

passive income with online courses

 

6. Online Course

 

Selling an online course is a similar passive income business to selling digital products. The difference is that you are teaching something to solve a problem that your audience has.

If you can solve a problem by teaching them about the problem in-depth and about the solution, then people are willing to pay you for that. And they are willing to pay hundreds even thousands of dollars to get their problem solved.

According to globenewswire, Self-education or e-learning industry is expected to reach $374.3 billion by 2026 with an average annual growth of 14.6 %. So, there is a ton of money to be made.

You should keep in mind that people will only pay you if your course is a valuable resource.

You can teach anything you are an expert in. From cooking to personal development, from using software to lifestyle, from 3d animation to commercial photography. Anything in between and beyond.

Starting an online course is relatively easy with platforms like skillshare, udemy, or coursera. Course modules, outlines, notes, resources, lecture layouts are done for you.

You only need to record your lectures and upload them to the platforms.

Difficulty To Start & Maintenance:

 

The difficulty level depends on your personality. If you are comfortable recording yourself while teaching your skillset, then it’s simple and easy. Otherwise, it’s not for you.

Making $1000 a month is not that difficult if you already have an audience who knows you, likes you, trusts you.

You can price your course from a few hundred dollars to over $1000 or even more if the quality of your course is excellent. So, you only need to sell to 4 or 5 people in the start to make $1000 in passive income.

And finding 4 or 5 interested prospects is really just a matter of positioning yourself as an expert on the topic. And you can do this through your content (YouTube videos, blog posts, Instagram posts, or any medium you chose to build your authority and brand).

Maintaining is pretty much like selling your own digital products. It’s easy, once you start seeing the momentum, you can add more lectures and updated information to help your students make the most of your course.

passive income with membership site

 

7. Membership Community

 

Building an online membership community is another great passive income idea if you are willing to do the work and provide value first to your audience.

And again you need to create content to build an audience who knows, likes, and trusts you.

By the time you launch your paid membership program, they would already have consumed your stuff and are more likely to pay, feeling confident that they will receive more value from you while they have been receiving a ton of value from you for free.

You can use platforms like Patreon to build your paid membership community. You can charge as low as $9 per member per month provided you provide greater value than your free stuff.

 

Difficulty To Start & Maintenance:

 

It’s difficult to start since it involves building a loyal community around the topic through your content.

So, to make $1000 per month with this passive income model, you need 100 members to sign up for your program. Once again, YouTube can be a great platform to build an audience for selling your paid memberships.

After you have got, let’s say 100 members that pay you monthly, there is still some work required. You have to provide active education and support like bi-weekly interactions, or weekly round-up sessions.

So, this is some hard stuff for most people out there.

passive income

 

8. Starting An Automated Business

 

You can start an online business selling services online. These can include starting a lead generation agency, social media marketing agency, Google ads management agency, etc.

You have to learn the skills first, then practice them to master them, and then start selling your services to other clients who need these services.

At the start, you will be working as a solopreneur. You have to do everything yourself to get full command of every aspect of the business.

And once you are getting handsome cash flow every single month, you can build a little team and outsource the major workload.

From this point onwards, most portion of your online business will be automated and your team will be doing the stuff, while you can focus on client management.

Businesses are willing to pay you $500, $1000, or more every single month to generate leads and sales for them.

Here is a 30-day training program to launch your first or next super successful business in the next 30 days.

You can start a business in any space following the training and tools provided in this program. 

 

Difficulty Level & Maintenance:

 

To start an online business based on selling goods or services is an uphill task as you have to learn a lot of stuff, have to manage everything to come together, and do fulfillment.

Making $1000 per month is not that difficult as you only need a couple of clients that each pay you $500 per month recurring.

But keeping that steady flow requires quality control of your goods or services. And with a team to manage, it’s not that much easy.

 

9. Building Website Or App

 

Another amazing opportunity to make passive income online is to build an application or a SAAS website, for which you can charge the users a monthly subscription fee.

SAAS stands for Software as a Business. Examples may include an online marketing tool, email automation software, auto social media posting tools, Google Chrome extensions, etc.

The beauty of building an app or subscription-based software is that it’s a money-making machine that is running for many years at least if you have created something in demand.

For this business to work, you either have to be a programmer yourself, or you can hire a professional coder to build the thing for you.

It’s always a recommended practice to do market research and get feedback from the pool of your potential customers before even starting working on the concept. 

 

Difficulty Level & Maintenance:

 

Starting app development or a SAAS website is a really tough job, and you can only do it if you know to code and can spend months writing the code, testing, and tweaking.

Making $1000 every single month from your app or software website is not that hard, once you have people subscribed to it and love it.

Maintaining the $1000 per month passive income is easy as you only have to make minor adjustments, and updates to make it a better experience for the users.

 

Final Words: 

So, it’s time to do a little quiz.

Which of the passive income ideas from today’s list resonate with you the most?

Are you going to start your marketing agency, or are you planning to start a YouTube channel?

In any case, let us know in the comments. And if you have got some value in any form, please share it by using the social share icons on the left column.

See you,

Fazila (Busy Mom of 2).

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Hey! We’re excited to welcome you to our blog. We are a couple with 2 amazing kids (in the image above). Here, we share our journey towards financial freedom, entrepreneurship, blogging, and everything related to making money working from home. 1 Mission! To inspire more everyday people just like us to design a life that’s better than a 9-5 corporate race.

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