Passive income for college students in 2021
Are you a student? Do you want to get financial freedom? If you have to pay for your education yourself and don’t be a burden to the family, the only option is a side hustle and passive income.
Students are busy in their learning life like assignments, tuition classes, studies, events, etc. but the only way, you want to live your life with your rules so passive income should have mandatory.
If you want to get started earning passive income here’s what you should know first.
Passive Income Ideas
1.Create an online course
Create an online course with a platform like Udemy or Teachable and leverage some of your skills to create a healthy income.
You can create your own course around a topic you’re an expert in and set your own tuition rate.
Additionally, you can offer amount based or percentage-based discounts as well with pre-set expiration dates or count-based validity. You also put the video on YouTube.
2.Run a blog for passive income
One cannot overemphasize enough how blogging is the number one way to earn online with zero to low investment and unlimited earning potential.
In 2020, blogging has become a profitable online profession and people at large start a blog to get into this noble profession.
If you have a skill and have some expertise in it, then you could probably share it with others through Blogging.
For more:- Passive income idea in 2020
Affiliate marketing is one of those side hustle ideas that can either make you a lot of money or nothing.
It’s not just about finding the right product to sell but also finding the right brand to partner with.
The affiliate searches for a product they enjoy then promote that product and earns a piece of the profit from each sale they make.
4.Invest In A REIT (Real Estate Investment Trust)
If you’re concerned about investing directly in real estate, or maybe you’re not yet an accredited investor, that’s okay.
You can still take advantage of real estate in your investments through REITs – Real Estate Investment Trusts.
These are investment vehicles that hold property within them – and you as the owner get to benefit from the gains, refinances, sale, income (or loss) on the property.
Dividend stocks are the tried and true ways to earn passive income.
You will have to do plenty of research to find good stocks and invest a significant amount of money to receive large dividend checks.
Dividends are payments a corporation makes to shareholders. When you own stocks that pay dividends, you are receiving a share of the company profits.
Dividend investing allows you to create a stream of income in addition to the growth in your portfolio’s market value from asset appreciation.
6.Write an eBook
Self Publishing is mainstream today. When you purchase an eBook off of Amazon there’s a pretty good chance you’re buying a self-published book.
To self-publish a book you’ll first need to write and edit it, create a cover, and then upload to a program such as Amazon’s Kindle Direct Publishing.
There will need to be a lot of upfront marketing before you can turn this into a passive income stream.
7.Create an App
If you own a smartphone or tablet then it’s safe to assume you have several apps downloaded.
But have you ever had an amazing idea for an app?
If so, you could consider hiring a programmer to create your app for you.
You could then sell it on the App Store for residual income.
8.Sell stock content
Websites, advertisers, self-publishers and app creators all need secondary content, from images to music, video and sound effects.
If you spend your spare time snapping, sketching or singing anyway, this could be the route for you.
9.Do Translations Online
If you know how to speak another language, there is plenty of money to be made performing translation services online.
Using websites like LiveTranslation.com allows you to get paid as a translator from the comfort of your own student accommodations.
This is an easy job you can do on your own schedule.
10.Ride Sharing Apps
By now you have probably heard of ride-sharing apps like Lyft and Uber.
If you are willing to drive others around in your spare time, you can earn some serious money.
As long as you have a clean driving record and a suitable vehicle, you can earn as much as $2000 by using ride-sharing apps.
The best part? You can turn on and off your availability through these networks with the simple click of a button, effectively allowing you to make money no matter what time of day or night it is.
Conclusion on passive income for college students
There are many streams and ideas that are useful for you like online selling, logo design, web design, rent a car, etc.
Passive income can also help you develop new skills, build your personal brand or portfolio, and achieve more freedom. All this information is given after doing enough research in the hope that it will help you in the future or in the present.
Thank you for your time.
Mehul Ghodasara is a Digital marketing analyst and writer. He loves to give you knowledge about the digital world for today’s generation.