Money is the most important factor in our lives today. Everything we do requires money and what we all do is to earn money. Students however face the biggest money problems , low pocket money ha Bois! Well there’s actually a solution to this problem – Passive income.
So what is passive income?
Passive income is income that requires little to no effort to earn and maintain. It is called progressive passive income when the earner expends little effort to grow the income.
Well the above is what wikipedia says about passive income. Here’s my go on it : It is actually the money we earn through say a side business or it is what we earn outside our profession to make a little more money than your regular income.
Definition and stuffs boring I know. Anyways now first let me tell you little about passive income which I learnt myself after going through hundreds of blogs and trying it out myself.
Okeh! Let’s begin
So before I actually tell you about how to earn money passively here are things which I consider I should tell because no other blog tells this which is the most important of all this passive income thing. So being a student myself I faced many problems while taking a dig at earning myself while studying and this is what I learnt and you should consider before processing the thought of getting a passive income.
Yes. Indeed you need a little amount of capital not much but you need a few thousand bucks to start you passive income campaign. Basically it’s free to start a YouTube channel or a blog but eventually you need money say for example you need to pay for the hosting of a blog or say if you start a YouTube channel you require money to buy a good camera or microphone to record over. So basically you will need a little amount of capital to start on with.
When it comes to the resources part it depends on what you choose to do for earning a income. Let’s say YouTube Channel like I said earlier to record good videos you must have a good quality camera and a nice microphone. Likewise to start a blog you should have a laptop. Mobiles are fine too but they are kind of unprofessional and you don’t get as much options as you get with a laptop. So the resources part is as much important.
If you decide to make an earning this way one of the most important requirement is Skills. By skills I mean you should have knowledge about whatever you decide to do. If you start a blog you should be good at content writing and be very efficient with your English. If you decide to go in the finance field you must have basic financial education like stocks,dividends, MFs’ etc. So make sure you choose the field which you will be able to earn with.
So now that we are done with the essentials and major requirements of what you should be aware about let’s actually begin with the ways to earn a passive income from home.
Here is how you can earn from Home being a student. Here are the three major ways:
I put this one first because well this one is my favorite. Well all of you know what you mean by investing. It is basically buying stocks at lower prices and selling them at higher or vice versa. You can start investing with a small amount of money and make it big but its not that easy to be done as said.
This are a few must points you should know about investing:
- investing involves risk , you can loose your entire capital in the process. ( i lost mine twice). You need not fear loosing just be sure you are educated about investment and learn as much as you can before putting your money at risk.
- As i said earlier learn about trading before investing your money.
- Don’t go too hard by which i mean , go slow -invest a small amount at begining or try virtual trading so you are confidence boosted. Confidence and emotion control is most important in trading .
investment is a great way to earn but must be cautious before doing so and you will always get rewards at the end if you work hard enough.
2. DIGITAL MARKETING
I didn’t want the blog to read 10 best ways to earn money from home because most probably all the 10 ways they tell you pretty much come under digital marketing. Lets make this simpler – Digital Marketing is the broader concept for every thing that is eventually related to internet. But this are the major ways you could earn a ppassive income from digital Marketing.
Blogging is one of the best ways to earn money. You have to start a blog this is the process:
- Start a blog using Wordpres,Blogger or Wix.
- Buy a domain for your site. Domain is basically your website’s url adress for example , http://www.xyzabc.com
- After getting a domain you have to buy a hosting which costs around 3000 to 5000.
- Your blog is ready now start writing content and monetize your blog using adsense.
Here is a website where you can learn all about how to start a website: How to start a blog online.
2. AFFILIATE MARKETING.
Affiliate marketing refers to selling products online. You can be a affiliate for website like Amazon or flipkart. The process is once you signup for a affiliate program with a seller then you have to make a sale for which you get a commision. This has turned out to be one of the most famous methods of earning a passive income nowadays.
Here’s a great blog to educate you on Affiliate marketing:How to become a affiliate marketer
3. YouTube CHANNEL.
This is for the people who are good at making videos or have content which can be video displayed. You have to start a YouTube channel and start Posting videos once you reach 1000 subsribers and a certain watchtime limit of 4000 hours you can monetize your channel using Google adsense.
Youtube is a great way to earn money if you are determined and create content regularly. People like to watch videos more than reading blogs you just have to attract them to your content.
That was all about passive income and how could you earn more from home. Well I wrote this blog on a purpose whenever we search for passive income we literally get thousand pages with 100 ways to earn passive income but this one’s are probably the best ideas I mean feasible ideas which you can do. My friends have literally done this and are earning now. If you want to know more about trading in stock market here’s how I started trading and what I went through to earn money from trading.