One summer Fabiola and her best friend María decided that it was time, they wanted to start traveling and see places first within their country and then outside of it.
However, when they both made their respective budgets, it didn’t take long for them to realize that they were going to need more money if they wanted to go abroad in a year.
Have you heard of passive income? Maria asked Fabiola. A refusal in the response from her friend made Maria take out her laptop and they began to investigate. The first time she knew them “from above”, but until now she had not delved into that.
After some reading and consuming videos on the subject, both friends realized that having passive income would be the answer to obtain an extra economic resource and be able to travel comfortably abroad.
What is passive income?
They are those that generate money for you on a recurring basis without the need for you to dedicate a large amount of your time or a lot of work. Although it is necessary to clarify that to generate them you are going to have to make a little effort, but only at the beginning, the idea is that later they hardly need your intervention.
Basically, passive income is what you receive for having done something before that now produces money for you on a regular basis, that is, daily, monthly or annually, in other words put your silver to work for you.
Unlike an active income, which is what you get for doing daily work, which involves physical, mental and intellectual effort and also consumes up to eight hours a day of your life, that is, what a person earns for complying with the functions of your employment is active income.
How to generate passive income in 2022?
It is time for María, Fabiola and everyone who wants to achieve financial freedom if they want to achieve their goals for 2023 or the following years. But what are the passive income what can they use? Here we give you an idea.
1. Rent a space
One of the passive income par excellence is renting a space that you have free. These can be from a house, apartment, room, to a warehouse, office or a parking space.
2. Sell Used Items Online
It is possible that at home you have electronic items, clothes, books, furniture and others that you no longer use, but that work very well. Selling them online can be an excellent option to receive extra income, plus it is the perfect opportunity to give them a second life.
It is important to mention that in this option the inflow of money will depend on the availability of products you have to sell, although it does not require a large investment or great effort to get it going.
3. Develop an online course
Are you an expert on any topic? You can create a pre-recorded course and sell it online, through platforms or even promoting it on social networks.
4. Sell your own photos or videos
If you are an audiovisual creative, there are different image banks where you can register to upload your photos and even videos. Another option is to create your own website where you promote your gallery, that is, a way to start selling the rights yourself.
5. A blog
This option will require a little more time and dedication. However, having a well-positioned niche blog can generate income in different ways, for example: with Google Adsense, which shows advertisements on your site or through affiliate marketing, which consists of promoting the product of a third party within your website.
6. Create a YouTube channel
It is no secret to anyone that you can monetize on the Google video platform. However, for this our quick tips are: be consistent, post videos on topics you are passionate about and listen and interact with your audience.
7. Write a book
If you write a book of any genre, you can sell it online, through social networks or there is even an Amazon option that allows you to self-publish your work without the need for a publisher and also offers 70% royalties on your sales in the authorized countries.
8. Make investments
There are many financial instruments in which you can place your money to multiply it. One of the most universal is through crowdfunding of companies or collective financing, which you can join as a shareholder of the project or so that you receive royalties or gifts from the company. Of course, your earnings will depend on the amount you want to invest.
Other financial instruments that may interest you and can help you generate passive income are:
- Real estate
- neobanks
- Debt investment funds
- investment banking accounts
And if you are in Mexico:
- Certificates of the Federation Treasury (CETES)
- Popular Financial Companies (Sofipos)
IMPORTANT:
Remember that the results of any of these methods are not immediate, do not give up at first, set reasonable and realistic deadlines for your goals.
Be constant, that they are “passive” does not mean that you do not have to do anything, it is very common that they imply an extra effort, especially at the beginning of them, look for instruments that are profitable for you.
And finally, look for the passive income that you choose are aligned with your interests, knowledge and probabilities, since as you may have noticed some of them depend on your skills as a creative or on a capital or product that you already have.
Maria Arcia Communicologist and Master in Narrative and Audiovisual Production graduated from the Universidad Panamericana. “I like to tell stories” is a phrase that I say very often. Person with strong convictions of a better world, reader.