You're there from 9 til 5, stuck behind a desk. You don't want to be there, but you have to — there are bills to pay.
Trying to make a living, but not really living at all.
Every day you research about passive income, and how you can make money online without investing money or time.
Does this sound about right?
I've been there.
The good news is that there are ways to create passive income with NO money whatsoever.
The bad news is that it will take your time, and you need an inch of patience.
But I do want you to know that it is feasible to achieve it.
I know it's possible because I did it myself. Over the past 12 years I have created multiple different streams of passive income — earning me money even while I sleep.
This post will guide you through 5 simple strategies on how to create passive income with no money.
Few words about passive income
Passive income is tough to build, and not easy without some capital. Many people actually think it's impossible to start without some form of a nest egg. Although having some money definitely helps, it's not a requirement.
Before we get into the 5 strategies to creative passive income without investing money, lets just get into the basics.
What is passive income?
Passive income is money you earn, that is not dependent on your time. It comes from a source that does not require your time and effort. There is usually an initial commitment to setting up the income stream — after that, it makes you money automatically, indefinitely.
It does need to be said that passive income does not come easy. It takes time and effort to create. You need to be committed.
Passive income examples
- Earning passive income from your affiliate website could be passive income (at least semi passive, depending how you build it). Months of building the website, getting visitors and fine tuning the conversion can eventually lead to a cash-cow providing a monthly income for years.
- Another example would be sales from a book you wrote. You invested time to write the book, and it continues to make you money (royalties) long after you finished it.
- Owning real estate and charging rent is another example. It required an initial large investment, but once setup, you'll earn money passively forever.
Benefits of passive income
There are many reasons why you should try to build passive income streams. Some of these include:
- Freedom from working for money
- More time to spend doing other things
- Makes your income usually location-independent
- Diversifies your income and makes it resilient
- Freedom to work anywhere in the world
How to build passive income with no money (5 strategies)
There are a number of different passive income strategies you can do right now. All these ideas will take some effort — nothing comes easy. But if you put in the work, you can get the snowball rolling.
Here are 5 proven strategies to create passive income with no money.
👨💻 Strategy #1: start a blog
Starting a blog is by far the best thing you can do to build passive income without any capital. Not only can you earn money from the blog itself, but it’s the perfect vessel to promote the other strategies.
Before you can monetize your blog in any way, you’ll need to build up an audience. This means making great blog posts that draw in organic traffic from Google and other search engines.
There are really only 2 keys to succeed here:
- Do good keyword research
- Make your posts informative, educational and entertaining
Once you get some consistent readership, you can start looking to monetize.
Blog ad revenue
A good blog with awesome content can draw in large amounts of search engine traffic. If one were to place ads on their blog, they would earn passive income. This is one of the ways so many blogs earn hundreds of dollars a day, with little to no effort.
Google Adsense is the most popular ad provider people use to monetize their blogs. Here’s how some of the ads look.
They are placed on the top and sidebar of your blog posts.
The amount of money you can generate from Google Adsense varies, depending on various factors. Website traffic is obviously a crucial component.
There’s a good calculator that gives an estimate of how much you might earn. If you run a health blog based in Europe with 50K monthly hits, you are projected to earn $4770 annually.
Your blog and its search engine traffic make it perfect for creating passive income through affiliate marketing.
FYI — Affiliate marketing is basically when you recommend/review a product or service, and you get a cut of the sale. A hyperlink is added to a blog post, typically a review of said product/service.
This is something I'm doing myself.
This is an awesome way to earn passive income. Some affiliate marketers earn in the 6 figures. Pat Flynn of Smart Passive Income earned $110,160.30 in a single month, all from affiliate marketing.
To begin affiliate marketing on your blog, you’ll need to sign up to an affiliate program. Each program has its own products you can earn passive income from. The commission rates vary depending on which program, and what products or services you choose.
Promoting your products/services
A blog and the traffic you bring it, make it an ideal host to sell eBooks and courses.
These are two things that require no money to create. They will be elaborated more in detail later in this post.
📹 Strategy #2: open a YouTube channel
A YouTube channel is like the video equivalent of a blog — this is why it’s the second most important strategy. It can earn ad revenue itself, as well as promote your other bootstrapped passive income strategies.
Just like a blog, the first step is building an audience, attracting them with awesome video content. Many people have done it with no money, and you can too.
YouTube ad revenue
Because YouTube is owned by Google, it makes it the perfect video platform for Google Adsense.
Here’s an example of what an ad can look like on YouTube.
There are a variety of different types of ads, with various lengths. They can show up at different times, usually at the beginning, or in the middle of a long video.
To be eligible to have ads on your videos, you need to apply for The YouTube Partner Program. You’ll need at least 1000 subscribers, among other criteria to be accepted.
Many YouTubers earn thousands in ad revenue each month. Entrepreneur Roberto Blake made $2,400.36 in January 2020 from the ads on his videos. That’s completely passive income, earning for him 24/7.
YouTube affiliate marketing
Many YouTubers earn lots of passive income through affiliate marketing. It really doesn’t work that different from a blog.
You sign up for a program/network and choose a product/service. You’ll then add the affiliate link in the description of your video.
Here’s an example.
Affiliate marketing done through YouTube is just as successful as done through a blog. Maybe even more so, depending on the product or service.
Promoting your products/services
Just like a blog, your YouTube channel is an awesome tool to promote and sell courses and eBooks.
📖 Strategy #3: write an Ebook
Writing an eBook is a great way to earn passive income without a nest egg. It will take sometime to write and put together, but it will generate passive income for you, indefinitely.
To create an eBook, use Kindle Create — it’s a free eBook creation tool.
You can then publish your eBook on Amazon for Kindle, through Kindle Direct Publishing. If you have an active blog and YouTube channel, you can promote it. People will continue to buy your eBook, long after you wrote it. The passive income will be ongoing.
Many people have succeeded at this, and you can too.
👨🏫 Strategy #4: create a course
This is another awesome strategy. You can create an educational course, and then sell it online. Just like an eBook, a course will continue to make you passive income, long after you created it.
You can create, publish and sell your course on Udemy. There is an interface on the website which allows you to put together your course.
Then when it is published, it will be displayed on the marketplace with all the other courses.
Your blog and YouTube channel can help promote your course to your audience.
This is definitely a good method to build some passive income, even if you have no money. A man named Greg Jeffries made $30,000 in one year from courses alone. All of that was 100% passive income.
📷 Strategy #5: sell stock photos
If you are a photographer you can actually make passive income online. You can take stock photos and sell them to various image companies. All you really need is a camera.
Here are some websites you can sell stock images to:
Each website has their own terms and conditions when it comes to stock photos. Commissions may vary.
Generating passive income with no money is absolutely possible. The key is to create a strong blog, and YouTube channel and overall, build your audience online. Once you’ve got an audience, you can begin to create and sell different products and services.
The potential for passive income can be great, but it's not going to come easy. You have to work hard and put in the hours. If you are dedicated, you can absolutely make it happen. I know, because I did it myself.
Got any questions or ideas on other passive income strategies or methods that doesn't require money? Leave a comment below.