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Having multiple sources of income is pretty common these days. For some people, it is people, it is a way to make ends meet. For others, it is a way to expand their money. It can also be a method to detect more financially secure.
If one source of income dries up, there is another source of income that can fill in the gap. While a usual source of income is the type earned from a regular job, there is also a passive income.
- Do you need to make money while you are sleeping?
- Do you need to make money when you are enjoying your life?
What is passive income?
Passive income is money that you earn without any active engagement. In simple words, it is income that is not attached to an hourly income or annual salary. Passive income includes things like money flow from rental properties, stocks, sales of a product, and more.
Importance of passive income
Most people depend on their salaries for income. If the boss gets fired or decides to quit their job, the money stops soaring in their bank account. Surviving on conservation or savings is only possible for a few months. That's why passive income is important, so people have a continued source of income even when they are not working 8 to 6.
Warren Buffet once said:
" If you do not discover a method to make money while you are sleeping, you will work until you die.
You may want to grow with your old mindset:
- Go to college
- Go to university
- Get a degree
- Get a great job
- Marry
- Work 9 to 5
How to start building passive income?
There are no magic tricks that turn your time directly into money. Rather, you plant seeds so your money will grow, even when you are sleeping.
Passive Income Ideas in Pakistan
Here are some of the passive income ideas you can start right now, and build a handsome amount of money.
1. Sell an e-book
Can you make passive income by selling an e-book?
You can make passive income by selling e-books on your websites, on affiliate websites, or amazon. By selling each just one e-book per day at $17 each, you can make more than $500 in a month.
Creating and selling an e-book can be done for free or at a low cost making it a gripping passive income idea.
How much money can you make from e-books?
The good news is that you get lots of say in your potential earnings, hence it is worth taking a look at the sums. Publishing your ebook is one of the most popular ways to make money which can bring $1000 + in a month.
Tips for making money from your ebook
- Choose a popular topic for your ebook(Novels, Poems, Old Stories)
- Write your ebook to a high standard
- Choose the best-value publishing platform for you(Amazon, Smashwords)
- Build a marketing strategy for your ebook
- Publish a series of ebook
Benefits of self-publishing ebook
- Quick Publication
- Career Boost
- Passive income
- Anyone can do it
Platforms where you sell your ebook
- Amazon Kindle Direct Publishing
- Smashwords
- Payhip
- Sellfy
- Visme
2. Start a blog
A few years back, blogging was just a different hobby that some people did in inclusion to working full-time jobs. Now, blogging still has a purpose in that way, but a lot has changed. In 2022, blogging has become a profitable online profession and the best passive income idea.
How much money can you make from blogging?
There are different levels of bloggers who are earning anywhere from $1100-$2million a year.
What are the ways bloggers make money?
There are several techniques that you can use to monetize your blog. Depending upon your level of blogging and the type of blog, you could select the method that matches your style.
- Ad networks
- Affiliate Marketing
- Paid Reviews
- Sell Digital Products
- Launch an online course
- Direct Advertisement
Best ad networks for beginners
- Ezoic
- Google Adsense
- Propeller ads
Best websites for starting a blog
- Blogger
- WordPress
- Wix
- Medium
- Ghost
- Tumblr
- Weebly
Best topics for starting a blog
Some of our favorite and creative blog ideas are in bold,
- Self Improvement
- Health and Fitness
- Personal Finance
- Business
- Education
- News
- Travel Blogs
- Fashion Blogs
- Lifestyles Blogs
3. Become a Social Media Influencer
Becoming a social media influencer takes patience and determination. Social media influencers are a growing type who are creating more money than anyone could ever have predicted.
What is a social media influencer?
A social media influencer is someone with a significant audience of online followers and is usually of high profile.
How much money can you make from social media influencers?
The influencer's rate is directly affected by his/her follower count and outreach success. An average influencer earns between $40,000- $200,000 yearly through product promotion.
However, small influencers with 10k or less than 10k followers can make, on average, $88.00 per post.
What are the ways social media influencers make money?
- Getting paid by brands
- Getting paid by companies
- Getting paid for services
- Sponsored social media posts
- Webinars on the social media platforms
- Becoming a brand ambassador
- Website advertising
- Affiliate Marketing
Which platform is best for social media influencers?
- Tiktok
- Youtube
Instagram has one of the top social media platforms for influencer marketing campaigns.
4. Rent out your home
Renting out your house can be a great way to depend on your investment after you move into a new home. Feature out how to become a landlord takes some knowledge of how the rent out your home
Whether you are considering becoming a landlord because you have some extra space, or because you want a passive income from a duplex.
How to rent a house?
- Determine your budget
- Make a financial plan
- Set a rental rate
- Find a house
How much money can you make from renting a house?
You can generate a huge amount of income by renting a house. Such as $800 - $1000 per month.
5. E-BAY seller
E-bay is one of the world's oldest and most noticeable e-commerce platforms. E-bay still carries an important place in the online marketplace.
Getting started on eBay is simple. Most eBay sellers have started small by selling a few items they were not using.
Benefits of starting a business on eBay
There are 3 benefits of starting a business on eBay,
- There is no need to raise startup capital
- Build up rentary
- Rent the location
How much do average eBay sellers make money?
The average eBay seller earns almost $35,000 per year. Some top sellers make as much as $70,000 per year. It also depends on how many directories you can sell and the price of your item.
Tips to sell on eBay and create money
- Pick a niche
- Offer free shipping
- Low starting price
- Averege selling price
- Use High-quality photos
- Sell profitable items
Best-selling items on eBay
- Jewelry and watches
- Clothing and shoes
- Pet supplies
- Crafts
- Home Furnishing
- Mobile Phones
- Electronics
- Fitness Equipment
6. Dropshipping on amazon
Dropshipping on Amazon is a quick and simple method to start an e-commerce store without needing to carry inventory. You will find that dropshipping on amazon margins is lower than with other e-commerce businesses.
What is dropshipping?
Dropshipping is the procedure of selling a product without having the responsibility of carrying directory or shipping goods.
How did it work?
You list products on your site without holding any physical directory. When you receive an order, you contact your supplier who ships the items directly to the customer.
How much do we earn from dropshipping on amazon?
Dropshipping on amazon can be profitable. It varies depending on your portfolio of products and what you sell on the platform. A middle drop shipper creates anywhere from $1000 to $50,000 a month on amazon.
Best dropshipping products
- Apparel and footwear
- Kitchen
- Dining
- Pet supplies
- Office products
- Car Accessories
- Home interiors
7. Invest in the stock exchange
Investing in stock is one of the world's best ways to produce money. The major strength of the stock market is that there are so many methods that you can profit from it. But with a good potential reward also comes good risk, mostly if you are looking to get rich quickly.
What is Stock Exchange?
A stock exchange is a marketplace where you buy stocks, bonds, and other securities such as shares of stock.
How much money can you make from Stock Exchange?
The stock average returns are a cool 10% annually better than you can find in a bank account. But many investors fail to earn that 10% simply because they do not stay invested long enough.
Excuses that remains you from creating money investing
- I will hold on until the stock market is safe to invest
- I am bored of these stocks, hence I am selling
- I will buy it back in the next week when it is lower
8. Start a youtube channel
Youtube is one of the most popular methods to produce passive income. Starting a youtube channel is easy, making money with your videos takes work, dedication, and time. There are no magic hacks that will get you millions of views overnight.
The simple way of making money through youtube is by monetizing the video viewership of your channel with advertisements.
How to get paid on youtube
- Become an affiliate marketer
- Reach 1k followers and apply for the youtube partner program
- Turn to crowdfund
- Create and sell your product
- Create a merchandise
How much you can earn from youtube?
Youtuber can make around $18 per 1000 ad views, which comes out to $3 to $5 per 1000 video views. Google pays out 68% of its AdSense revenue, hence for every $100 an advertiser pays, Google pays $68 to the publisher.
Best youtube channel ideas
- Gaming channels
- Educational channels
- Vlogging channels
- Comedy channels
- Photography channels
- Fitness channels
- Cooking channels
- Traveling channels
- Unboxing channels
- Tutorials channels
How to make money on youtube?
- Join the youtube partner program
- Set up your AdSense account
- Create sponsored content
- Sell your merchandise
- Become an affiliate partner
- Use crowdfunding
- Get your fans to pay out directly
Conclusion
Passive income is a good method to boast your earnings and cover the gap that your 9 to 5 work can not cover. The passive income ideas in Pakistan on this list help you if you are trying to develop an additional source of income to secure your financial future and maximize income from the business.
There are many different methods to make passive income in Pakistan. It is important a method that fits your personality and lifestyle. The perfect method to find out which plan is right for you is to try it out.
Passive income is a great method to secure your future, and it is essential to start planning right now.
Hence these passive income ideas in Pakistan. You can try any of these techniques. Do remember that making passive income needs a lot of patience and hard work, but the results are worth it.
FAQs
Q: Is dropshipping allowed on Amazon?
Ans: Dropshipping on Amazon is usually acceptable as long as you follow Amazon’s requirements.
Q: Can passive income make you rich?
Ans: Passive income is the primary source of income for most of the richest people in the world. Making money with minimum effort, and watching spending is vital for getting rich.
Q: How can I make passive income with no money?
Ans: There are many ways to make passive income without money. like advertising your car, selling online, copywriting, and blogging.
Let us know your opinion about which passive income ideas in Pakistan are best for starting in Pakistan and creating a handsome amount of money in the comment section.