8 Realistic Passive Income Ideas — Full Breakdown & Transcri

[00:02] about passive income ideas that you can do this year. But before we get into those ideas, let's just set the foundation and the stage a little bit. A passive income, they think they do like absolutely nothing and money just

[00:16] realistic. Every form of passive income always requires some form of like, you know, time, effort, money, or like setup. But the idea is with passive income is once you set it up, then you

[00:29] no effort. And no, I'm not going to tell you something like go buy a laundry mat or a bunch of vending machines or like real estate to rent out. Although those aren't necessarily bad ideas. I just want to give you what I believe are

[00:44] realistic beginner friendly passive income ideas that you can try out if you from easiest to hardest so you can see which ones actually make sense for you your life. So, let's go ahead and get into it. A quick disclaimer before we

[00:57] personal experiences and ideas when it comes to passive income. I am not a financial adviser. This is not financial advice. You should always do your own research before diving into anything. And results are always going to vary

[01:11] and effort. So, with that, let's get into the first one. So, let's dive into what I consider to be the easiest passive income idea that you can do, and account. For the most part, a high yield savings account is just like a normal

[01:25] savings account, but it's better. So, traditional savings account typically pay you like almost nothing in interest, like 0.01%. So, even if you had like $10,000 sitting in a traditional savings account, you

[01:38] would only get like a couple dollars a year at that 01% interest. Now, high typically through like online bank, typically have much higher interest simple. You open an account with an online bank, you transfer your savings

[01:52] in, and then every month you can earn interest automatically, and you don't check charts or make decisions. Really, the bank just kind of does it for you. And the money can just compound over time. So, you earn interest on the money

[02:04] earn interest on the interest that you've already earned. Now, the caveat account is like you need money to make money. There has to be money in a high actually make anything from it. So, for most people, no, it's not going to make

[02:17] you rich. But I still think it's a loweffort smart foundational way to earn some passive income. Now next up on the list is cash back and reward apps. So cash back and reward apps like know Racketin, Ibata, Fetch, and Capital One

[02:31] essentially pay you a percentage back when you shop. Sometimes you're going to extension. And other times you just link your credit or debit card and they automatically track eligible purchases in the background. So here's a super

[02:43] simple example. So, let's say you're already going online to buy something, really doesn't matter and that store shop partners with a cashback rewards app where they may give you a percentage back on that purchase price. And the

[02:57] like change your behavior, right? You were going to buy the thing anyway, but purchase through the right place. That's why I ranked this as like one of the easier passive income things. Like the biggest upfront thing is, you know,

[03:10] signing up for the app, linking your card, adding the browser extension, all And this is perfect for anybody who already shops a lot. Like I shop a ton. This is great. If you're going in store, if you're purchasing groceries, if

[03:23] online, like this one is definitely for you. The third one on the list is short think of surveys as like passive because sometimes they can take a lot of work why I like the short ones. Short survey apps like Google Opinion Rewards, One Q,

[03:38] you quick questions about things like shopping habits, brands, or your few questions. Usually the surveys are anywhere from like 1 minute to 5 exchange, you get paid in either like cash, points, or gift cards. And I've

[03:53] been doing short survey sites and apps for years. And the thing I really like about it is like surveys often take so long and you get DQed from so many of often just send you a notification on your phone when there is a relevant

[04:07] survey available to you. For example, you may get a survey that's like tell us about the store you just visited or tell us what you think about this ad. They're usually pretty straightforward. So you'll simply like tap the notification,

[04:19] answer a couple questions, and then you can get paid anywhere from like a few then you just kind of go about your day. Now, fourth on our passive income list is renting things you already own. Now, this is where we start to get out of

[04:32] like the more easier passive income ideas start getting to like the medium you're not buying something new. You're not like starting a business. All you're yourself, what is something that I already have that people may find

[04:47] different things. So, renting out extra storage space in your garage, basement, or closet, renting out your driveway or parking space, or even getting paid to car. The common thread here is monetizing something that you already

[05:00] have that's potentially going unused. Like I said, it's not about going out about potentially unlocking value from something that you already own. Storage rental. You could list extra space on an app like Neighbor. You can take a few

[05:12] photos, set your price, and people can book your space for monthly storage. And if you have a driveway or parking spot in a busy area, you could rent that out through parking apps like Spot Hero where you can potentially earn from your

[05:24] I've lived in apartments in busy cities apartment, I automatically got assigned a parking space. But most of the time it's because I work downtown. So I almost never own a car during those

[05:38] unused parking spaces that I could have time. And speaking of cars, one of my favorite ways to rent out something you own is to rent out the surface area of your car for advertisements. Now,

[05:51] depending on demand and location, companies like Carvertise and Rapify may be interested in placing a removable vinyl wrap on part of your car. And in which case, you can make a monthly fee from having that vinyl wrap while you

[06:03] renting things you already own, a lot of the upfront kind of effort is from your listing, setting up your terms. And it's not to say it's completely messages or even occasionally meet somebody in person, but compared to

[06:18] other side hustles, it's one of the more handsoff ones you do, especially once you get your listing up or you get the advertisement on your car. Now, fifth on anybody, is affiliate marketing. This is one of the most common passive income

[06:32] affiliate marketing means you recommend a product or service, and if somebody commission. And that could be a product from Amazon, a software tool, a course, a travel site, memberships, pretty much anything that has an affiliate program.

[06:46] front, you get paid based on the post like a video, Tik Tok, or blog on your favorite budgeting app, and you put Now, if somebody engages in your content, clicks that link, and then ends

[07:00] potentially earn a percentage of that sale or even like a flat referral fee depending on the company. And that's why affiliate marketing can be seen as once, you know, make the video, blog, Tik Tok once, then as people continue to

[07:14] watch it, you can potentially continue to earn affiliate income. And let's be marketing, it's not easy in the beginning, right? You usually need some sort of audience, even if it's a smaller one. That's why I really like affiliate

[07:27] programs like Amazon Affiliate, because you can usually get started with that or blog. And then from there, you can really promote any product that Amazon readers and your audience or even just family and friends. Big thing is just

[07:42] creating content, being consistent, and recommending things that you actually honestly, I feel like affiliate marketing really doesn't work once you is a great passive income idea for anybody who already likes posting.

[07:56] Whether that is videos, blogs, social media posts, if that's something that to check out. Next on the passive income list are digital downloads. Now digital people can purchase online and instantly receive. So no inventory, no shipping,

[08:11] templates, you know, planners and journals, notion templates, budget spreadsheets, resume templates, printables for home or businesses, like file once, upload it to a platform like Etsy, Gumroad, or even your own website,

[08:26] depending on demand. For example, let's say you make a budget template in Google Sheets or Canva. You upload it to Etsy with a few photos in the description, automatically get access to download it. You don't have to send anything

[08:39] manually. Now, that said, this isn't no effort, right? The hard part isn't uploading the designs. It's actually making something that people are willing like what is the problem you're trying to solve and why is what you're selling

[08:52] the best thing to solve it. And if you're selling on a platform like Etsy have to think about, you know, marketing, descriptions, keywords, presentation. So, it's not loweffort, if you will. But this is perfect if you're

[09:05] creative, you're organized, and you're good with tools like Google Sheets, Canva, Notion, things like that. Seventh passive income idea that I had to add to the list was starting a YouTube channel. Now, this is definitely on the like

[09:18] higher difficulty scale because it is not passive at all in the beginning. It has some of the strongest like long-term passive potential in my opinion of anything else on the list. So, if you're willing to do the upfront work, then you

[09:32] could potentially get paid from YouTube like long after you hit upload on a video. So, for example, I've taken breaks from posting at like 3 to 6 months at a time, especially if I'm like busy with other stuff or I'm just burnt

[09:44] earn even during those down times through things like, you know, the YouTube partner program and through affiliate links that I put in the the results are going to vary per person. Now, let's be real. You do a lot

[09:57] creating a YouTube channel. The filming, the editing, the learning what performs accepted into the partner program. This is not fast or easy. You need to be patient. You need to be consistent. You need to be willing to create content

[10:12] well before you actually start earning from it. Like it can take sometimes, you know, months or years to get your channel monetized, if at all, depending on the content of your channel. Like for example, for this channel, it took me, I

[10:26] think, six months to get it monetized. And for my second channel, it took me over a year to get that channel monetized. So, it can be a lot of work definitely worth it in the long run. Now, last on the list and quite frankly

[10:39] the hardest in my opinion is creating an online course. Now, as somebody who has her own online course, I can tell you it is a lot of effort up front and people often talk about it like it's just such a like easy quick thing to do. No, it

[10:53] to course topics, it can really be anything you want. It can be about a side hustle. It can be about a skill or experience that you already have or know. It can be about how to use a certain tool or software. Like my course

[11:06] is on becoming a remote online notary because I am a remote online notary. So made it easier as I was actually it's definitely effort. You have to plan your content, record your videos, edit

[11:18] them, upload them to a course platform or your own website and then market your course. And that can take weeks or even months. But once it's live, people can without you having to personally teach each person. And what I like is like

[11:31] traveling, you're doing something else with your life, you can still depending on your enrollment and your marketing. I originally published my ago. I think it was like November of 2022. So a little over three years ago

[11:46] update it. But even after having a content for the most part has been pretty similar, I still continue to make going to vary per person, but so far it's been a great way for me to earn

[12:02] simple passive income idea like opening a high yield savings account, or you're something like, you know, create a YouTube channel or create an online doing the upfront work so you can potentially earn on the back end. And if

[12:16] ahead and just subscribe to the channel. Also, just drop in the comments, what is your favorite way to make passive income or what's a passive income idea that make a video on it. Anyways, thank you as always for watching. I'm going to

[12:29] as always for watching. I'm going to catch you in the next one.