How to Earn Over $500 a Month in Passive Income
1. Sell Stock Photos Online
- Turn your photography hobby into a lucrative income stream.
- Platforms: Shutterstock, iStock, Adobe Stock.
- Potential earnings: Grow your portfolio to earn thousands monthly.
2. Use Print-On-Demand Services
- Sell your designs on various products without handling inventory.
- Print-on-demand services handle production and shipping.
3. Set Up a Dropshipping Store
- E-commerce strategy where you donât manage inventory or shipping.
- Profit margin: 15% to 20%.
- Example: Achieving $5,000 in monthly sales could net $750 to $1,000.
4. Rent Out Assets
- Extra room: Rent on Airbnb for $50 to $150 per night.
- Car: Use Turo or Getaround, earning $30 to $45 per day.
- Potential annual earnings: $6,000 to $13,000.
5. Create Digital Products
- Ebooks, online courses, templates.
- Example: Sell a $50 course to 300 people to earn $15,000.
- Platforms: Udemy, Teachable.
6. Leverage Affiliate Marketing
- Promote products through your blog, YouTube channel, or social media.
- Earn commissions on sales made through your affiliate links.
- Example: 1% of 10,000 followers buy a $100 product at 10% commission = $1,000/month.