![]() ![]() It may not be a lot at first, but your income will grow with your audience! Affiliate marketing TikTok also has a Creator Fund that helps users make extra cash just for posting their content. If you enroll in YouTube’s partner program, for instance, they’ll run ads during your videos and pay you based on how many views those videos receive. Many platforms have built-in monetization opportunities these days. So how can you make passive income as a creator? Here are some passive income strategies creators regularly rely on. Basically, when it comes to money, more is more - and when it comes to work, less is less, so passive income is the perfect solution. Having passive income can also allow you to finance your passion projects - buy a microphone to help start your podcast, or invest in the editing software that will help take your YouTube channel to the next level. With passive income, you’re not tied to your job’s paycheck schedule or when your next raise is due, and unexpected expenses are easier to handle. (Or a side hustle that allows you to eventually quit your full-time job, if you’re lucky.) If you’re a freelancer whose income varies month to month, having regular passive income streams can help with cash flow, but even if you’re not, they can reduce stress by expanding your financial freedom. Benefits of Passive IncomeĬreating passive income streams can be a side-hustle or a full-time job. Creative passive income usually requires a large upfront investment of time to get started, but not as much money as investment passive income. You can also monetize your creative work so that the podcast or video series you’re already making makes you some extra money - more on how to do that below. Creative passive income usually comes from selling ideas or art in some way - by creating evergreen online courses, for instance, or putting some of your work behind a paywall that audiences will have to pony up to access. ![]() The other is creative passive income, which is what we’re talking about with the class example above. Investing can be very lucrative, but it can also have high financial upfront costs that are out of reach for many people. One comes from investing - so those high-yield savings accounts, rental property or real estate, or buying into stocks or startups. There are basically two types of passive income. In this case, your class will be making you money long after the time you originally invested in preparing and teaching it. To be clear, passive income is kind of a misnomer - you do have to do work at some point! It’s just that some things only generate income when they’re active, and some can continue to net you money even after that period. But you could also turn that class into a source of passive income by recording the session and then allowing folks to download it at their convenience for a small fee. To give you an example, in order to make some active income, you might teach a one-time, in-person class. And who doesn’t want that?īut what is passive income? Basically, it’s exactly what it sounds like: something you can set and forget, like the interest on your savings account, except way, way more lucrative. That’s the trick, everyone says - if you can find a good passive income stream, you can work less and make more money. Node.textContent = (regex, wordsToReplace) įor (let i = 0 i < buzzy phrase you might have heard if you read any personal finance media is passive income. ![]() Object.keys(wordsToReplace).forEach((word) => `, "gi") ![]()
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