There are many reasons why you might need to work from home but in the current panic with the outbreak of coronavirus, it is likely that a lockdown will occur. In this case, it is important that you are able to continue making an income in order to be able to survive. In this article, we are going to show you some excellent ways of making a passive income to supplement your current 9-to-5 as well as being a replacement should you need to go into a lockdown.
What Is A Passive Income and Why Is It Important?
A passive income is one which is earned without you having to put in much effort or work to maintain it. The most important part of a passive income is simply getting it started.
Having a passive income can be a huge benefit at any time but during a lockdown due to coronavirus, it is even more important to use this downtime as an opportunity to make a little extra cash. Let’s take a look at some major benefits of doing this.
A passive income means that you will have more free time to concentrate on other things. You are able to earn from anywhere, even if you are stuck in a foreign country, meaning that you are not likely to run out of financial back up. A passive income does not cause stress or anxiety, and essentially looks after itself.
Ways To Start Your Passive Income
There are a huge variety of ways to earn a passive income, one of the most obvious and common ways are rental properties, but in this emergency situation, that is not a viable option. So in order to obtain a successful and easy to maintain passive income, we must turn to the internet. There are some great ways to start earning a passive income online and we are now going to look at how you can get started today.
Start A Blog
One of the most effective ways to make a passive income online is to start a blog. This is an extremely interesting, and often fun thing to do. Best of all, it can be done by almost anyone, provided that you have internet access. You can get started as soon as you have finished reading this article.
Setting up your blog is simple.
- Choose a name for your blog. It should be something catchy and intriguing but also relevant to the content
- Decide on a blog niche-are you going to write about food, parenting, travel, pets etc. You can choose anything you wish but it is important that you select a topic that interests you and that you have some knowledge about.
- Choose a template for your blog and begin designing it
- You can now write your first blog post and publish it for the world to see. A good idea is to write an introductory post about why you are starting the blog and what your readers can expect to see in upcoming posts.
- Now you can start promoting your blog. The best way to do this is to share it on social media, there are a huge amount of hashtags and blog sharing accounts on Twitter, Pinterest and Instagram which can make spreading the word much more simple.
- Bluehost offers several plans to fit your budget with free domain name if you open an account. You will also receive free SSL certificate and one click wordpress install. Your blog could be up and running today.
Use this tool to find your perfect domain name. Try it for free.
How Can I Make A Passive Income From Blogging?
There are a number of ways that you can make money from blogging, including writing sponsored posts and reviewing products for various companies. However, if you are looking to make a truly passive income, the best way to do this is through affiliate marketing.
Affiliate marketing is a form of advertising, from which you earn a commission. Let’s take a look at how this works.
- Sign up to an affiliate marketing network such as ShareAsale.
- Select which products you would like to advertise on your blog.
- Create ads on your blog using the unique links you are provided with.
- Any purchases made via your links will automatically give you a commission.
Another great way to make a passive income from your blog is by selling digital products such as online courses or eBooks. All you need to do is create the product and then advertise it for sale on your blog. Whenever someone purchases a copy of the digital product, they are able to download it and you will receive payment.
Build an Email List.
Email lists are important because it is the best way to connect with customers. In order to market your online business, you will need access to an email marketing platform. There are several different options, but one of the most cost-effective and user-friendly is GetResponse. GetResponse has all of the functionality and features you need to market your online business.
Compared to most other forms of marketing, email marketing is incredibly cost effective. If you are running an online business from home on a limited budget, then email marketing is for you. I use and recommend GetResponse.
Other Ways To Make A Passive Income
There are plenty of other ways you can make a passive income online and effectively make it through a lockdown. Here are some that you might consider.
Although there is a lot of anxiety surrounding a potential lockdown due to coronavirus, this doesn’t mean that you have to lose out on your income. Why not consider setting up a blog to make a steady passive income, giving you peace of mind that even if you cannot attend your day job, you will still have a good cashflow.
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Certain products/services and links to products/services are affiliate links, and I may earn a commission for any purchases that you make at no additional cost to you.