You can earn passive income with the most common and easily accessible sources if you play your cards correctly. Imagine how cool it is to earn money even when you are sleeping. There is no need to invest any money to generate a passive income source.
There are good sources that need Investments like Real Estate and Stock Trading, but we will talk about the 6 best sources to earn passive income with no money. All you need is a laptop, an internet connection and determination to work.
As a student, you have enough time to acquire great skills. This is the time when you work hard and make a recurring source of income for a long period of time.
As a student, you do not have money in your hand. The best thing is that you do not need money for earning passive income from some free sources but knowledge is required to achieve success.
Money is nothing infront of your knowledge and skills. The big thing is how to scale that knowledge to earn money passively.
Passive Income sources demand hardwork for once but it will give returns for a long period of time. This is the power of recurring income/passive income. As early you start in your career, the more chances that you will become successful.
We learned from the pandemic that it is very important to have a side source of income. If we can start it without any investment then what’s the bad deal?
Table of Contents
6 best sources to earn passive income with no money for students
- Make a Youtube Channel
- Writing an E-book
- Make a Website
- Make an Online Course
- Make an Application/ Software
- Passive Income Referral Program
1. Make a Youtube Channel
The easiest source to earn passive income is with the help of Youtube. People say that it is impossible to grow on Youtube because everything is covered and there is very high competition.
The interesting fact is that 40% of the fields are still unexplored on Youtube. To grow Youtube in 2021, you just need to understand the algorithm of Youtube.
People do not have ideas for their own Youtube channels, they copy ideas of the people who are already successful. You can’t beat them in the field they are best in. They are now big brands.
Do something unique where there is less competition and you will be king of that field. Do research on that topic and see that people are searching for solutions to that problem or not.
To find something unique you have to think according to the need in the market and solve the problems of the people. Think about something that will be sustained for the next 20 years.
You just have to make the video once and you will get paid for years. Try making videos on the problems which are frequently asked by the people.
You can do affiliate marketing with Youtube to earn 5 times more income than the normal Youtube income. You can do them both together as well.
You can also earn recurring income from Youtube by introducing the Membership feature in your Youtube Channel. Membership includes more inclusiveness and more features for the members. People will pay you every month. The membership will automatically be renewed for the user every month until they cancel it.
Pros
- Huge Audience
- Easy to use Platform
Cons
- You need a minimum of 4000 hours of watchtime and 1000 subscribers to apply for monetization.
- You need to have various skills like Speaking skills, Editing and Presenting
2. Writing an E-Book
People love reading books because it consists of the bulk of knowledge at one place about a similar topic. Books are life experiences of people who achieved something great or Books can be on any skill in which you are best in. Most Successful people write their own books from their life experiences. They write in the field they are best in.
You can write Ebooks of just 10-15 pages on very specific topics. People want a bulk of information at one place.
Ebooks can be study Notes as well. You can share your notes on specific topics for some payment in return.
If you have knowledge about a certain topic but you do not know how to express it then you can hire a Ghost Writer who can write a book for you.
You can also market your E-books on big platforms like Amazon. There is a large community of readers. If you feel that the E-book is worth it to read in hardcopy then you can publish it and sell it on Amazon or any other e-commerce platform.
Pros
1. Need to put effort only once
2. High sales due to lower cost
Cons
1. Need Expertise in the field
2. Organizing everything on point in a book is a difficult task
3. Make a Website
Making a website can be of various types it can be a
1.) Blogging Website (like mine)
2.) Affiliate Website
3.) Website for Business
4.) Website for Startup
Anyone can start a Blogging and Affiliate Website with zero investment. You just have to share the information in a written form.
Blogging Website is very similar to Youtube. The only difference is that Youtube is in the Video format and the Blogging Website is in the written format.
The best part is that there is no such criteria for Adsense approval in the website like Youtube minimum criteria is 4000 hours watch time and 1000 Subscribers.
People afraid of words like website, Application and Software because of the “Coding” factor. But now there are sources by which you can make a website without coding.
You can try Blogger and WordPress. Both are free of cost. All you need is just an idea or interest in a particular field.
You just have to focus on the content of the website because there are free templates available which you can attach to your website.
You can start a website for free but after getting AdSense and money then you should buy Web hosting and Domain.
Pros
1. Early Accessible
2. Easy to Attach links and Youtube Videos. You can easily promote and sell everything using a website.
Cons
1. Have to face so many issues regarding website Audit
2. People in India are less interested in written content
4. Make an Online Course
In this field, there is very high profit but also have very high competition. Therefore, companies like BYJU spend huge money on their marketing.
There is a great spike in this industry after the pandemic situation. Digital Marketing and Consumer Behavior are the courses that remained the Best Selling Courses since the last year.
I am giving a reality check from my personal experience that selling courses is very difficult because so many tech-giants are already selling courses with
In the early years, Branded Course-making companies like BYJU focus on marketing rather than making profits to build market penetration. Marketing Penetration means atleast everyone knows the name of the company.
You can sell courses to your friends or with the help of social platforms but if you want to make a career in it then you have to spend a huge amount of money on Marketing.
Things needed-
- A good Camera
- A Soundproof Room
- Good Scripted lectures (to explain things in minimum time)
- A good mic (if possible)
- A good editor
Make courses on unique skills which have very less competition. Some of the examples of unique courses are courses on Passion, Gardening, Parenting, Comedy and Gaming.
FrontRow is a platform that started to sell courses based on these unique fields in India.
Pros
1. Very High Profit
2. In high demand after the Pandemic
Cons
1. High Competition
2. Needs Expenditure for Marketing
5. Make an Application/ Software
This is the era of android and ios. People spend most of their time on mobile phones. Surfing on mobile is like a routine now. Big Applications like Whatsapp, Instagram, Amazon, Uber, Zomato and google are our daily routine.
You can promote your application from social media or website but it is preferred to register your app on Google Playstore to ensure security for the users.
Google Playstore charges 3,000 rupees every month but it also gives you money per download.
You can directly promote your application and software on the website and Social Media without registering into Google Play Store.
There are lots of applications and software which are available on platforms like Telegram. Therefore, make a problem-solving application or software and you will definitely get success.
Pros
1. Era of Android and Ios
2. Less Competition
Cons
1. Need to learn computer Languages
2. Very Difficult to handle Individually
6. Passive Income Referral Program
You can earn passive income by referring Apps and Websites to others. Cashkaro and Swagbucks are the platforms on which you can earn 10% lifetime passive commission.
Cashkaro is an online shopping platform where you will get every shopping website on a single platform. Cashkaro consists of Amazon, Zomato, Flipkart, Ajio, Croma and every online shopping website. Cashkaro is funded by Ratan Tata.
Cashkaro will give you upto 20% cashback and other offers on different products. If you are a regular online shopper then Cashkaro is the best platform for you to earn money.
Not only this, You can refer Cashkaro to others and you will get 10% lifetime commission of their earning. For example, If your friends referred by you earned rupees 10,000 cashback on Cashkaro then you will get 1,000 rupees as commission.
Cashkaro is free of cost. So what are you waiting for refer and earn with your friends without any investment.
You can also promote Swagbucks in which you have to fill online Surveys, daily polls and answering questions. You will earn Swagbucks for each task. The value of 10,000 Swagbucks is $10.
There is also a referral program of Swagbucks in which you can earn 10% lifetime commission of the earning of your referral. For example- If your referral earned 10,000 Swagbucks then you will get 1000 Swagbucks as commission. Isn’t this a very amazing scheme?
Swagbucks is absolutely free of cost, there is no entry fee. You just need to invest your time because surveys take a lot of time.
Pros
1. Very high Earning Potential
2. Money directly transferred to your Paypal even small amounts like $10
Cons
1. Takes a lot of time to fill Surveys
2. You have to Motivate your referrals to regularly fill surveys on a Regular Basis
Most Recommendable Passive Income Sources for Students
Youtube and Blogging Websites are the most recommendable sources of Passive Income because a student can easily manage these two along with studies.
1. Students are aware of the new trends and they can speculate what will happen in the future.
2. Students have a high Social Media reach so they can promote their content to their friends and their friends can also promote their content.
3. Youtube and Google are easily accessible and daily used platforms for Students.
4. Students have a lot to spare time to try new things and Blogging and Youtube are the best domains to earn money at an early age.
5. If you start today then there are higher chances to get success in an early stage of life.