Prices today are starting to increase, groceries, school fees, transportation fees, and even movie tickets. Having a job is helpful but it takes much of our time -at lease 8 in hours in a day – in getting those monthly payouts. It would be great if we make money while sleeping, but not literally. This is called passive income, and a lot of people are already doing it. The great thing about this you would only take a little or no effort once this income stream has been set up. Now, here are 8 ways to make money while sleeping.
1. Investing in stocks
When you buy a stock you became a stake holder, this means that you now own a share of their profits. You will earn a part of the companies earnings known as dividend. I am not an expert about stock market but they say that you should invest in long term and one strategy is compounding interest, There are a lot of websites online that gives you access to this passive income. You can check COL financial if you want to make money in stocks.
2. Renting out real estate
There are plenty of ways you can make money in renting out real estate. One way is if the rental income is 15,000 and your expense is 10,000 then your cash flow is 5,000. Another one is if you purchased a property for 100,000 ten years ago, and today that property is worth 250,000, the appreciation made you 150,000. You can advertise your company through Airbnb or Lamudi. Check out Entrepreneur Philippines for the other ways to make money in real estate.
3. Setup a blog
This is by far the easiest way to make money. You can start immediately, it only takes minutes to setup and cheap to start. You can create you own niche or write anything. Sample, you can make a restaurant review, a blog for fashion, or make product review. Learn about SEO and your content should have a value and should focus more on helping the readers. Once you gain traffic, you can setup an affiliate, Sell-advertising or finding sponsors to you site.
4. Sell products online
The easiest way is selling your old stuff online in OLX, eBay or Facebook. So while you are sleeping, someone will see those stuff and will eventually contact you. If you have no extra stuff then you can start finding a niche which product you want to sell. You can even start your own online website or start posting it on Instagram. Once your product is a hit then money will start to come in. This is what Kimstore has done and now it is very successful.
Have you already tried one of these income streams? Share you experiences below.