Student life is all about exploring new ideas, taking on incredible adventures, and enjoying yourself but this is all possible if you have expendable income. Most students take up jobs or internships to make up that extra buck but this can be time-confusing and draining. Part-time jobs often come in the way of studies or exciting opportunities like traveling or hanging out with your friends. This is why we will explore some passive income ideas for students to take up and work towards at their convenience. Keep reading to find out how you can use the internet to produce a constant source of passive income.
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What are Passive Income Ideas?
Passive income, as the name implies, is the money or profits that someone can generate from a different source with minimal effort. Passive income is a secondary source of income, also known as add-on income, which is money we receive from sources other than our primary source of income. Passive income ideas can be very simple or multiple, but the execution of these ideas is the most important factor.
Must Read: How to Manage Money While Studying Abroad?
Benefits of Passive Income
We have always desired to live a life on our terms, to spend more time with our families and friends, to travel to locations we have always wished to visit, and to do the things we have always desired to do. Smart passive income ideas allow us to live a more flexible lifestyle. As a student, you can earn additional income with less or no effort.
The advantages of earning a passive income are numerous.
- It provides us with total independence and allows us to live without the worry of being too occupied for studying.
- It allows us to do things in several ways.
- It assists us in generating a recurring income regularly.
- There are no time limits, so we may complete our work whenever we want.
- Allow us to spend more time with our families, friends, and loved ones and we can focus on our school/college as well.
Also Read: How to Reduce the Cost of Studying Abroad
List of Passive Income Ideas for Students
If you start thinking about the list of passive income ideas for students, you may come up with hundreds of possibilities. Some of these ideas will require money, some will require innovation, and some will require dedication. Now, let’s look at some of the best passive income ideas for students-
Online Passive Income Idea for Students
The following are the online passive income ideas for students that you may consider:
- Start a Blog Right Now: If you enjoy writing, you may start a blog immediately. Blogging is a fantastic way to boost your income while also pursuing your interest. There are several free and commercial blogging platforms to choose from. You may start earning money from your blog by integrating Google Adsense or Media.net with it. You may also make money by selling ebooks on your blog. You may also rent ad space to advertisers if you establish yourself as an authority figure in a certain field.
- Consider Freelancing: In your spare time, you may start doing some freelance work. Freelancing is a fantastic source of passive income that is rapidly growing. In the next five years, the freelancing sector is expected to reach $30 billion in India and $50 billion in the United States. If you have any special skills, such as writing, proofreading, or web design, you may simply use them to supplement your income from an online job. PayPerHour, Fiverr, and Upwork are some of the finest platforms for finding freelance employment.
- Sell items on Amazon: You may sell items on Amazon, Flipkart, or eBay, OLX, among other e-commerce sites. You may also sell your digital ebooks on Amazon.
- Design and Sell Codes or Plugins: If you know how to code or design websites, you may sell your code, PHP scripts, APK scripts, or WordPress plugins on sites like Themeforest, Codecanyon, or Creativemarket.
- Create an Affiliate Website: Affiliate marketing is rapidly becoming one of the most popular ways to make money online from home. You may start selling Amazon and Flipkart items by creating an affiliate website and including their affiliate links in your blog. If someone purchases something after clicking on one of your affiliate links, Amazon or Flipkart will pay you a commission. Affiliate programs are now available in almost every niche, from blogging to fast-moving consumer goods.
- Create Online Courses: Do you have any unique skills, such as photography or web design? On platforms like Udemy or Thinkific, you may build an online video course.
- Online Tutoring Course: If you have the expertise or a degree in a certain field, you may begin tutoring online. On sites like UrbanPro, or Bharatutors.com, you may establish a profile and list the subjects you want to teach to students.
- Upload videos on Youtube: For many Vloggers in India, creating and posting videos to Youtube is one of the most common forms of residual revenue. Make your Vlog and start a YouTube channel today.
- Social Media Marketing: To market or advertise items and Earn Money online, you may use social media platforms such as Facebook, Quora, Pinterest, or any Forum website. It’s also a kind of affiliate marketing in which you post product reviews on Facebook Groups, Quora, and Reddit, or advertise affiliate links on social media sites to earn money on sales.
- Website Hosting Company: Websites like ResellerClub or SiteGround can help you create your domain selling and web hosting company. These websites make it possible for you to establish your own Web hosting company. You do not need to do anything; the reseller firm will take care of everything.
- Purchase and Sell Domains: You may also make money by acquiring a high-keywords-based domain and then selling it at an auction for 3 to 4 times more money. There are numerous domain registration websites, such as GoDaddy or Namecheap, where you may buy and sell domains.
- Virtual Assistant: In today’s digitalized world, anything can be done remotely, therefore a career as a virtual assistant is becoming increasingly important. Many entrepreneurs and businesses hire a Virtual Assistant to help them with a task that can be done remotely. Social media management, email marketing, report or chart creation, and digital marketing duties are just a few of the virtual assistant employment available. In India, you may look for assistant positions on popular online job portals.
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Investment-based Passive Income Idea for Students
The following are the Investment-based passive income ideas for students that you may consider:
- Mutual Funds: You can invest for the long term in several solid large-cap equity-based mutual funds. Today, you may spend as little as Rs.500 per month in a SIP (Systematic Investment Plan) and make millions in 15 to 20 years. So, a savvy investment in MFs or ETFs (Exchange Traded Funds) such as commodities or bonds can pay off richly later in life.
- Invest in Nifty-Fifty Stocks: If you invest in some Nifty-Fifty stocks, you may enhance your wealth by 10 to 15% in 1 to 2 years. Any high-quality dividend-paying stock purchased wisely can enhance your return by several times.
Note: Investment carries risks therefore, it is important to seek advice from family, or professionals before making these investments.
Work-from-home Passive Income Idea for Students
The following are the WFH passive income ideas for students that you may consider:
- Selling Photos Online: If you enjoy photography, you may earn income by selling your photographs on stock photography websites. There are a plethora of Stock Photography websites where you can sign up for free and submit your finest images. You will be paid a commission if someone buys one of your photographs. Shutterstock, Fotolia, Dreamstime, iStockPhoto, Alamy, Gettyimages are some of the most popular stock photography websites.
- T-shirt Design: If you have a passion for design, you can make some additional money online by working for companies like CafePress or 99Designs. These services allow you to post your logos and Vector Designs, and you may earn money by selling them online. You may also use websites like Envato and Fiverr to sell your design.
- Sell Handmade Items: Are you a talented painter or have the ability to create handcrafted items at home? You may sell your handmade products at a local trade show or on websites like Etsy, Amazon, and eBay.
- Music Teacher: If you are a skilled vocalist, you may make money by teaching others. Music teachers are in high demand all around the world. If you can play the guitar, piano, or any other instrument, your hobby allows you to not only pursue your passion but also earn some money by teaching others.
- Teach a Craft and sell: The best way to make passive income is to teach a craft and sell your craft, from soap making to pottery with minimal investment, students can easily pick up these skills and crafts and teach it to thousands of people through social media platforms.
- Cooking: Do you enjoy cooking? Are you a talented baker? You shouldn’t need to open a restaurant; simply build a website or blog, market your items (foods), set up a payment gateway, start receiving orders, and make recurring income.
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All of the above passive income ideas for students are simply suggestions; you may come up with an income strategy that suits you. If you have any more extra income ideas, please share them in the comments section below. Stay connected with Leverage Edu for educational content and amazing quizzes!