How to Earn Over $500 a Month in Passive Income
1. Sell Stock Photos Online
- Monetize your photography skills by selling photos on platforms like Shutterstock, iStock, and Adobe Stock.
- Build a large portfolio to potentially earn thousands of dollars each month.
2. Use Print-On-Demand Services
- Design products that are produced and shipped by a print-on-demand service, eliminating inventory management.
3. Set Up a Dropshipping Store
- Run an e-commerce business where a third party handles inventory and shipping.
- With a profit margin of 15% to 20%, hitting $5,000 in sales could result in $750 to $1,000 in profit.
4. Rent Out Assets
- Rent out an extra room on Airbnb for $50 to $150 per night, or rent your car through services like Turo or Getaround for $30 to $45 per day.
- Potential to earn $6,000 to $13,000 annually.
5. Create Digital Products
- Develop and sell ebooks, online courses, or templates.
- For instance, selling a $50 course to 300 buyers can generate $15,000.
- Use platforms like Udemy and Teachable.
6. Leverage Affiliate Marketing
- Earn commissions by promoting products on your blog, YouTube channel, or social media.
- If 1% of your 10,000 followers purchase a $100 product with a 10% commission, you could earn $1,000 per month.
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