Four Alternative Passive Online Sources of Income
Truly successful people don’t just depend on a typical 9-5 job, especially not in these times where the cost of goods and services keeps soaring to outrageous new heights. The saying goes – “Never place all your eggs in one basket.”
There are two major groups for all sorts of activities that bring needed funds within one’s reach. They include:
- Active Sources of Wealth: These typically reward you for your time, effort, and energy. In other words, you only get paid for the present and working time. Your typical 9-5 and all other time-consuming jobs fall in this category.
- Passive Sources of Wealth: These jobs pay you even when you are not present. In a more detailed description, you get paid for actions you have already set in motion, whether you are presenting yourself or not. It is standard advice for everyone, regardless of class, status, or ability, to have one or more sources of wealth from both of these classes if they want to be truly financially free.
Also Read:- 5 Investing Tips to Help You Build Passive Income
You can go for freelancing jobs also for part time earning.
Below are four passive sources of income you should consider.
Google AdSense is an advertising program you can use to make money either by running ads on websites or having registered Adsense advertisers run ads on your website. If you have a website or own a blog, you get paid to let advertisers run ads on your website/blog.
To start your Google Adsense journey, you must be at least 18 years old and have a Gmail account not previously registered with google a sense account.
How Much does AdSense Pay?
Google Adsense determines the final profit by considering two factors
- Cost per Click (CPC): which is the amount of money you would be paid whenever someone clicks on an ad you run, or an ad run on your website/blog
- Click-Through Rating (CTR): A hypothetical percentage of the percentage of people to click an ad.
For example, if an ad/website has 500views at an assumed C-T-R of 1%, just five persons are assumed to click on the ad. Once the ad has been clicked on, you’ll immediately get credited with the C-P-C plan you are in.
This is a rapidly growing way for people to earn lots of money online by answering statistical questions and surveys online in their spare time. With the advent of the internet, research companies always need new members to answer surveys honestly and test new products before and after launch in a bid to ” listen to the market.” A few good ones worth mentioning are Branded Surveys, Swagbucks, Toluna, Pinecone, OnePoll, i-Say, and Opinion Outpost.
Trading Course Notes
Perhaps you are a student or an astute researcher. If you don’t mind sharing your notes or journals with fellow students/researchers worldwide, this is an excellent way to generate some extra cash doing what you’re good at. There are many free websites where you can upload your notes/journal and earn when your work gets downloaded.
Sites like Nexus Notes and Stuvia are free for you to list your notes. However, they do charge a small fee for any sales made in return for connecting you with customers. Handwritten notes are accepted, provided they are legible and have a clear writing style. However, you are more likely to make more money if you put in the effort to type and submit it as a pdf file.
Playing Games Online
Yes, specific play-to-win sites like CasinoChan reward you for playing easy, straightforward games called online pokies on their site. Designed to be a fun and adventurous way for people to earn some extra cash easily, they usually come with a free demo account for you to familiarize yourself with the games.
Playing these pokies is a recent, fun way to earn much-needed extra cash. However, it is advised that one takes full advantage of the demo account given to generate a winning strategy that works before starting with real funds.