Alternative Income Sources in India – How to Earn Passive Income
You probably slog it out at work to get some additional income by the end of the month to enjoy life with your family. However, it is often seen that such additional incomes are not sufficient. This is why most of the people wish to have a passive source of income so that they can get some amount of side income along with their monthly pay. If you have sufficient time to invest in a source of passive income, it is always a good idea to start as soon as possible. Having a passive source of income will not just help you enjoy life, you can also increase your savings that will surely help you in the future. There are several ideas for you to start such an income source. However, which one you choose is entirely based on your own strength and confidence.
Start Your Own Website or Blog
If you think that you are pretty good at writing and can deliver messages across to your readers in a pleasant and smooth manner, then starting your own blog or website will be a great idea. If you provide some useful content on your blogs to your readers, it will be rather beneficial for them. Simply starting your blog is not enough. You will have to promote your blog in such a manner that you get plenty of online traffic to your blog. Updating your blog on a regular basis is also important with the help of good quality content.
Once you notice that your blogs are getting a sufficient amount of interest from readers, you can quickly monetize it with ads. This will generate some passive income for you. You can join with Amazon Affiliate program or Google AdSense to show some ads on your blog. After your blog gets extremely popular and starts getting a high level of traffic on a daily basis, you can pitch for brands with sponsored posts on your blog. Once you become a master at a given niche, there is no looking back for you. This, in fact, can become one of the best passive income source ideas for you.
License Your Photos
Clicking photos is a hobby that is practiced by millions across the globe. If you are also one of them and simply love to click photos during your leisure time, this can actually be a good idea for a source of passive income for you. If you click good photos that has wowed others in the past, you can simply upload them to some stock photo website and get them properly licensed. Whenever a person decides to download your photo for their use, you will get some money for each download. There are several websites, such as iStockPhoto, where you can upload your photos and get suitable royalty. Freelancing platforms such as Fiverr can also help you provide photography services to others.
If you have a great writer inside you, then you can also opt for writing e-books apart from blogs. This is also a great source of passive income for people. However, this idea will take some patience and time from your side to grow. If you can write great quality e-books, you can surely put up your writings on sale at several ecommerce websites. Once you start getting confident at writing e-books, you can also convert it into Kindle eBook and enjoy royalties every time a person decides to buy your writing. You may also create your own author account at the author central at Amazon and start your writing. If you are gifted with writing great quality content, there are several ways to capitalize on this quality and earn some passive income. Joining hubpages, for example, can help monetize your articles. There are several other content aggregator websites, such as Newsdog, that can pay you on the basis of the total number of views that your content receives.
Invest In Real Estate
If you wish to invest on real estate, it can prove to be one of the best and biggest sources of passive income for you. If you have enough money to buy a new flat, then all you need to do is buy a good flat and give it on rent. All you need to do is make sure that the flat is located in a good and friendly neighborhood and has all types of facilities nearby. The rent that you will receive will be a great source of income for you. Even if you do not have sufficient amount of money to buy a new flat, you can easily opt for home loans from various banks or seek your friends or relatives, who are interested in investing in real estate. The rent that you receive will help to pay off the monthly EMIs. Once the EMIs are cleared, you can have the entire rent as your source of passive income.
Invest In a Crowd-Funded Real Estate
Most of you may have heard about the term crowdfunding. However, very few of you probably know about the term in details. Basically crowdfunding is a new tool for raising sufficient of money for a specific business. In fact, crowdfunding proves to be a simpler way to access various business ventures for investors. It basically makes use of the various crowdfunding websites along with different social media channels such as Twitter, LinkedIn, and Facebook to reach out to different audiences who are interested in becoming potential investors. The main idea behind crowdfunding is several people are interested to invest a small amount of money towards a common cause.
If several people are interested in investing small amounts of money, it helps to come up with a large sum in a very short span of time. When you talk about crowdfunded real estate, it basically means raising a large sum of money for the purpose of real estate investment with the help of small amounts from numerous investors. The more the number of investors, the faster will the amount be raised for a real estate project. You may say that crowdfunding is a way for large businesses to reach out to small investors, which would not have been possible otherwise. This way also helps small investors invest in real estate. Although crowdfunding is not yet a popular concept in India, it may soon become and prove to be a great source of passive income.
Invest in Stocks with Dividend Income
If you have interest in stock investments, you will across several stocks that provide dividends to investors. When you talk about a stock dividend, it basically means a payment that is made in the form of additional shares instead of cash payout. This is also known as scrip dividend. A company may decide to distribute such types of dividends to its shareholders if the company’s availability of liquid cash is short than the required amount. Normally, such distributions are acknowledged in the form of fractions that are paid according to the existing number of shares by a shareholder.
Create Youtube Videos
Are you not shy in front of the camera? Do you like to create your own videos and have been doing so for a long time? You can easily turn this hobby into a source of passive income. All you need to do is create your own Youtube video channel and monetize it. However, you need to remember that you need to have a great number of subscribers in order to earn money from your videos.
This will surely take time. You may quicken the pace at which subscribers subscribe to your channel by uploading different and interesting videos on a regular basis. You may also promote your videos on different social media platforms, as well as, blogs. You also have the advantage of embedding your videos into your blogs so that more and more people come to know about the videos. Whenever a person views your videos or sees your ad, you will be paid for it. If you opt for this idea, you do not need to make any investment and still earn some amount of passive income from your Youtube channel.
Mutual Fund Investments
There are many different types of mutual funds in the country. If you have some money that is lying idle in a bank account, you can easily invest them in some of the best performing mutual funds. It is good for you to remember that investment in mutual funds is always subject to market risks. This is why you should always invest money in mutual funds according to your risk appetite and your personal financial goals. It is also a good idea to diversify your investment portfolio so that if one type of mutual fund fails to perform, you can get some benefit out of the other mutual fund. As an investor, you should remember that investing all your funds in mutual funds may not be a good idea. It is better to invest in different types of investment tools to get proper benefits with time.