Do you make money while you sleep? Does it sound like it could be a scam? The idea to earn money while you sleep has undoubtedly entered the thoughts of every individual. But despite how corny or unachievable it may sound, making money literally while you sleep is not only conceivable but also very likely to be accomplished.
In reality, not only are people doing it everywhere in the world, but their numbers are also growing quickly. But for the majority of people who set out to accomplish something, getting there is neither easy nor straight forward. Most people quit, because it’s difficult. But if you are ready to put in the required effort, patience and consistency, you can achieve it. You won’t just start making some extra money from your side business; eventually, it might even completely replace your full-time salary.
That, in my opinion, is financial freedom. Even though you can pay your bills with an active income, you won’t have the luxury of time. Making money while you sleep is simply another term for passive income. It simply refers to money that is received automatically with little effort needed.
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25 Best Ways to Make Money While You Sleep
Start a blog
Creating your own blog is perhaps the most popular method to make money while you sleep. Simply acquire a domain name and pay for hosting to get started, and it only takes a few minutes. Then create amazing content that people would be interested in reading or sharing. Just make sure that the topics you write about are popular and trendy. For example, if you’re a nutritionist who has helped people be healthy, then that could be your blog.
Once you’ve gained a fan following, you can start making money from your blog by earning commissions as an affiliate. As an affiliate you promote other people’s goods and services on your website. You must make sure that these goods and services relate to your blog. For instance, the nutrition blog might start promoting health products as an affiliate. When you discover an affiliate partner, you’ll be given a special code so that each time a visitor clicks on the link on your website, you’ll get paid.
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Based on your expertise develop and sell products
If you’re well educated in a particular field, then you can start creating products, such as eBooks or videos, and start selling them on your blog. It may take a lot of work to create and market your products, but once all the initial work of creating them is over, you can just set back and collect the proceeds. This is the best way to make money while you sleep.
The best way to earn money while you sleep is through webinars. Naturally, not live ones but automatic webinars. Automated webinars are available 24/7. You need something to offer in order to create one. Webinars are excellent for selling high-ticket digital goods. Additionally, they are effective in promoting services like coaching and consulting. But it’s ideal to offer a digital product if you want to completely automate your money.
If you have artistic talent, you might be able to make royalties from your writing, acting, or music. In other words, you will get paid if someone uses your work or other creative materials. In simple words once you have created some content or music, every time somebody uses it you will be paid; hence, the easiest way to make money while you sleep.
Buy shares of stock
You become a stakeholder when you buy stocks. You are then entitled to a portion of their earnings. Since the advent of the internet, researching and buying stocks on your own has never been simpler. Investing in stocks has long been a well-liked strategy to generate passive income. Remember that the stocks you own can alter as you go through different life phases.
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Invest in alternative investments
The best way to make money while you sleep is interest from investments. The stock market isn’t the only way to invest. Alternative investments might provide added diversification for you to continue building wealth. Many options exist for investing your money in alternative investments such as fixed deposits. You can set aside money in a Bank FD. You can then get monthly interest, without worrying. Similarly, rental income from house property is a safe source to earn money while you sleep. So, you must identify assets which can act as income generators. Over a period of time, they will start generating a considerable income back-up for you.
10 years back income from an FD would have been a great income source, but in today’s low interest rate regime, the rate of interest has dropped hugely (3%-6%). So you must look for better methods to put that asset to use. For instance, you may opt to put some of your surplus FD funds into Chit Funds. Chit funds yield better earnings (10%-15%), and at the same time give you easy access to your money, during an emergency.
Chit fund is a mutually beneficial scheme where a group of people contributes towards a chit value. Then every month through auction one member from the group is given the prize amount and the dividends are distributed to all the other members. There will be a compulsory saving which will earn dividends every month. If you pick funds in the later rounds with low bid, the total dividends earned will be more than the bank interest rate. Dividends are a source of passive income.
The Money Club is an AI powered online digital chit fund platform. It also runs a Referral program. This program is open to users registered with the platform. You can invite your friends by sharing your referral code with them. First, ensure that they enroll using your referral code. You become eligible for earning passive income, depending on the referral’s activities on the platform. Become a Money Club Agent!
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Peer to peer lending
Participating in P2P lending platforms is an excellent way to generate passive income. A P2P lending platform brings borrowers and lenders together on the same platform where they can mutually decide on the terms and conditions of the finance. The system requires individuals to register with the P2P platform as borrowers or lenders. They will then match you with a consumer who either prefers or has trouble securing a loan from a bank. The P2P platform acts as the intermediary to facilitate easy interaction between borrowers and lenders. Once the borrower and the lender agree to the terms and conditions, they sign a digital agreement. After that, the loan gets disbursed to the borrower’s account. Then, the borrower has to repay the loan through EMIs over the agreed period. As a lender you will earn interest every month. What other easy way to make money while you sleep!
Choose a niche market, then create a fantastic ebook. The sweet spot here is 60 to 80 pages of content that is jam-packed with interesting content. Although you could sell something on a platform like Amazon’s Kindle, you’ll do better if you sell it through your own channels, such as on a blog. You’ll ultimately earn more money that way. To sell your ebook, however, using Kindle is a far easier option if you’re not an experienced online marketer. You won’t have to handle all of the book’s promotion on your own. Simply said, Amazon will pay you for the sales every month. Most ways to make money while you sleep require an initial effort but over a period of time you will be making money passively in no time!
Make a membership-based community
After establishing your credibility, you can start a membership community where users pay a monthly fee in exchange for access to exclusive, high-quality material. It’s a great means to add value to your online course and get an extra income without the additional work.
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Images can be created to be sold on shirts, posters, coffee mugs, hats, phone covers, and other items by creative people searching for a way to generate passive money. You just need to upload your best illustrations or photos and pick which products can be customized with your art. If someone buys an item from your range, you get a commission of the sale. The following websites Threadless, CafePress, TeeSpring can make and sell your products once you’ve finished the design work.
Making software may take some time at the beginning, but since you can sell it forever, your efforts could eventually turn into a passive source of income. Whether you use a professional software developer or build the product yourself, if it delivers value for your customers, it could be a lucrative source of income. The development of it would definitely take some time, but once it is made available on a digital storefront, all that is left to do is watch the cash flow in.
Launch an online store
One of the most common ways for entrepreneurs to start passive revenue streams these days is to launch an online store. Establishing a genuinely profitable e-commerce business will need a lot of time and work on your behalf, but once you do, you can automate every step and watch the money roll in.
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There are some other best ways to earn money while you sleep. Let’s have a look:
- Rent From Real Estate
- Sovereign Gold Bond (SGB)
- Affiliate Income
- Display Advertising
- Savings Account
- A Podcast
- YouTube Channel
- Insurance Agent
- Network Marketing
- Sell Stock Photos
- Online Trading
- Build an app
- Rent out your car
You can read: Money Management Secrets to Improve Your Finances