There are numerous passive income ideas for students that are rarely taught in the halls of academia. My goal is to provide some tips and strategies for you to start earning more online. No, you don't need an MBA to generate residual income online. That being said, you do need focus and determination.
Who doesn't want passive income right? Students are often times paying for rent, credit cards and student loan debt. What is the best way to start earning passive income? Start a blog. Blogging is not dead. In fact, it is one of the wisest decisions you can make. Remember, you never want to write blog posts about just anything that comes to mind.
A major mistake students who have blogs make is writing about topics no one is searching for. So, the strategy I recommend is to invest in using KWFinder. KWFinder will ensure you are writing about the keywords that people are actually searching for.
Below are some great passive income ideas for students.
- Make $2000 a Month Online
Read How to Make 2000 a Month Online
I have been blogging for a little over 11 years. How to make 2000 a month online is the longest blog post I have written to date. I cover numerous passive income ideas for students and non-students alike in that post.
I can promise you that you many of the topics I discuss in that post you will not hear about often in school Why? Well, our school system is not there to teach us to be entrepreneurs but workers. I hold an MBA from Purdue University. Of course, Purdue is a great school.
That being said, I never heard about becoming free in the entire 18-month Executive MBA program I was a part of. Why are so many hard working, highly educated men and women around the world barely making ends meet? They are trying to live on one source of income, a paycheck.
Who is the most highly taxed individuals? Employees. So, enjoy school but also focus on other avenues that can help free you from debt.
How can I make $1000 a month passively?
You need to think outside the box. Furthermore, you will find numerous resources here at Internet of Business that will help set you up for success. Yes, you can make $1000 a month passively. That being said, it isn't easy. The suggestions I share within this post and throughout this website will take time. In addition, consistent work on your part.
Remember, you are working for yourself and not for someone else. The beauty of all of this is you can go to school and work on your fortune in your spare time. So, let's discuss another way passive income idea for student such as yourself.
2. Start a YouTube Channel
Yes, it is free to start one. Here is the catch. You need 1000 subscribers and 4,000 hours of watch time in order to start earning money from YouTube ads. I started my RunDreamAchieve YouTube channel about 2 years ago. Remember, my mentioning you have to work to earn legitimate income? I live it.
My hope is that you will stay focused throughout your studies and graduate debt free. Also, that you make use of these tips and start earning passive income. There are people earning full-time incomes via their YouTube channels. That being said, make sure to use TubeBuddy. I use TubeBuddy to find keywords that have little to no competition.
In addition, have a great deal of search volume. Again, you don't want to create a vlog or blog without doing correct keyword research.
Make a membership site
3. Membership sites are a great way for you to earn passive income. Yes, it is a lot of work especially at first. That being said, it is about the best way to use leverage online as it gets. I highly recommend you take a look at Podia. I use Podia for my own membership site at RunDreamAchieve.com.
Podia is the only software you are ever going to need when it comes to building passive income. Below are just a few of the features it provides to students and non-students seeking to earn more…
- Membership sites
- Product creation
- Consultation calls
- E-mail marketing (i.e. building your list)
10 members paying $97 per month is an additional $970 coming in each month. Remember, this is just one of several other revenue streams within this post you can use.
The more people that join your membership site the higher your monthly passive income stream will go. Again, it isn't easy but it is worth it. Remember, you are working for yourself. So, it will be a labor of love. What specific skill do you have? Are you good at drawing?
Can you teach math or other subject that other people have a hard time with? Do you cook well or create recipes? Why not create a course around what you know that people will pay you for?
4. Be a Transcriptionist
You can sign up for various typing jobs like Hubstack Talent and start earning income. Of course, you would be working for linear income but it still is a free way to start earning more money. So, companies like Hubstack Talent pay you to transcribe video and files for pay.
Are you good at typing and looking for some ways to increase your cash flow without investment with typing? If so, check out the post I wrote on no investment typing jobs you may want to consider. You may also want to check out User Interviews which is another great company for transcriber jobs.
5. Create a Course
As mentioned above, creating a course or membership site are great ways to generate residual income. No, it isn't taught in business school. I am currently working on my Doctor of Business Administratoon (DBA) degree at the University of Missouri-St. Louis. No, have not heard these ways to generate income yet.
Of course, I love education like you too. That being said, the older you get the more you realize that one source of income isn't enough. Passive income is different than linear income you earn at a job. What happens if your job lays you off? The money stops coming in the moment you stop showing up. Passive income continues to come in for having worked hard once.So, creating a course is a way to help solve a need that other people have.
In addition, once you have created your course it can be sold over and over again for years to come. Podia is my number one recommendation. It is simple to sign up and at $33 per month, reasonable on price.
Start Your Own Website
Again, starting a blog or website is one of the best passive income ideas for students. No, you don't need to spend thousands of dollars on web design. There are plenty of website earners making legitimate incomes online with basic websites. Remember, what counts is the level of content you are creating.
Of course, there are costs to get started owning a blog or website. Below are some areas you need to consider. The good news is the costs are low. In addition, as your content and community grows your profits will outweigh your expenditures.
- Hosting: I recommend Siteground at only $3.95 USD per month.
- Buy your domain name at Siteground: Cost is $17.99 USD per year
- Invest in a theme for your website like Kadence or Studiopress
7. Affiliate Marketing
Affiliate marketing is one of the best ways to start earning passive income as a student. In fact, there are affiliate marketers out there earning full-time incomes online. The beauty of affiliate marketing is you share someone else's product and get paid commissions.
So, you don't have to take all that time creating your own product. For example, I pay my affiliates a 40 percent commission to share my running courses.
My Sub 3 Hour Marathon Pro course sells for $167. So, you as an affiliate receive $66.80 USD every time someone buys using the link you are provided. There are places like shareasale.com and cj.com that are also great options for finding other affiliate marketing products to share with others.
Invest in a course
Want to learn how to build passive income? Invest in yourself and buy a course. I recommend two that I purchased years ago myself and still use.
6 Figure Blogger and Pinterest Traffic Avalanche. Alex Nurney and Lauren McManus of the createandgo blog created these course. They both involve the basics of search engine optimization (SEO). In addition, how to get more organic, free traffic to your website or blog.
Few people realize but Pinterest is actually a search engine. Advertisers are paying big money to get their keywords to be on page 1. What if there was a better way to get your blog posts in front of more potential customers?
The Pinterest Traffic Avalanche and 6-figure blogger courses are my top recommended ways to speed up the learning curve. They don't teach these skills in business school.
Place Google Adsense On Your Blog
Again, the key to earn passive income with Google Adsense is website traffic. Yes, you can earn residual income simply by placing Google Adsense on your website. It is very easy to set this up.
You will upload the Adsense plugin onto your website and place your Adsense code into it. Once that is completed it is a matter of minutes before ads will start showing on your web property. so, when someone clicks on any of the ads on your site you will be paid for that action.
Yes, you do need to have some legitimate traffic. That being said, as your blog posts increase so will your traffic. Remember, keyword research is vital as are the tools I mentioned above. So, make sure to scroll back up and reference them. Again, you don't need a college degree to build residual income online. What you do need is to be creative and diligent about the process.LEARN MORE ABOUT THE 6-FIGURE BLOGGER COURSE
I hope these passive income ideas for students has been helpful to you. No, none of it is easy, especially at first. That being said, as you build your online presence the higher your income is going to go. Remember, write and create legitimate content that is valuable to others. There are people all over the world who want to have more time with their loved ones.
School takes an enormous amount of time. In fact, I am in school right now working on a Doctor of Business Administration (DBA) degree. So, I understand. That being said, I waste no time in my off hours. My goal is to help working professionals and students like you to become free. Few people that the lifestyle they truly want.
Is it no wonder that people working for a paycheck are not getting by financially when they have to juggle all of this?
- Student loan debt
- Credit card debt
- Child care
- Automotive loan payments
Remember, the key is to eventually grow your income to a point where you are earning throughout the day. Scroll back up and review the sources that I have mentioned in this post.
I promise that if you utilize these tools in 12 months from now your circumstances will not be the same. Yes, you will be earning residual income.