One of the most enjoyable ways to make more money is to turn your hobby into a paid side project – this way, you spend your spare time doing something you love whilst contributing towards your financial goals. There are plenty of different ways to convert your passion into cash, whether you turn it into a service or use it to make a sellable product. If your hobby is knitting, for example, you can sell your creations online through sites like Etsy or at local craft fairs. Equally, if you love animals, why not offer a local dog-walking service?
Ebooks are one of my favorite sources of passive income. Now, you can do this the simple way and just publish it on Amazon's KDP. Or, you can go all out and build yourself a book funnel. Book funnels are powerful, but they won't be fully passive. For example, if you do a free-plus-shipping offer for your ebook (converting it into a physical book), you'll need to create some one-time offers (i.e. extra training) and up-sells (i.e. an audiobook). But, a book funnel can be very powerful.
India's infrastructure and transport sector contributes about 5% of its GDP. India has a road network of over 5,472,144 kilometres (3,400,233 mi) as of 31 March 2015, the third-largest road network in the world behind United States and China. At 1.66 km of roads per square kilometre of land (2.68 miles per square mile), the quantitative density of India's road network is higher than that of Japan (0.91) and the United States (0.67), and far higher than that of China (0.46), Brazil (0.18) or Russia (0.08).[234] Qualitatively, India's roads are a mix of modern highways and narrow, unpaved roads, and are being improved.[235] As of 31 March 2015, 61.05% of Indian roads were paved.[234] India has the lowest kilometre-lane road density per 100,000 people among G-27 countries, leading to traffic congestion. It is upgrading its infrastructure. As of May 2014, India had completed over 22,600 kilometres (14,000 mi) of 4- or 6-lane highways, connecting most of its major manufacturing, commercial and cultural centres.[236] India's road infrastructure carries 60% of freight and 87% of passenger traffic.[237]
The combination of protectionist, import-substitution, Fabian socialism, and social democratic-inspired policies governed India for sometime after the end of British rule. The economy was then characterised by extensive regulation, protectionism, public ownership of large monopolies, pervasive corruption and slow growth.[55][56][57] Since 1991, continuing economic liberalisation has moved the country towards a market-based economy.[55][56] By 2008, India had established itself as one of the world's faster-growing economies.
Another benefit of investing in rental properties is the loan pay down. If you obtain a loan to buy the property, each month your tenants are paying off part of the loan. Once the mortgage on the property has been paid off, your cash flow will increase dramatically, allowing your mediocre investment to skyrocket into a full-fledged retirement program.
What I’m doing: My realistic goal is to have a blended annual return of 2x the risk free rate. With a current 5% hurdle, I am not paying down mortgages that cost less than 4%. Debt at 5% is a wash. My realistic blue sky scenario is a 3-4X rate of return over the risk free rate which can be achieved with property, stocks so far for the past five years, and certain private equity investments. Where I am dragging is my blended average CD interest rate of roughly 3% from an old CD coming due. I’ve rolled some money into a 12-month CD with CIT Bank at 2.5%. It’s the best rate I can find. 
What I’m doing: My realistic goal is to have a blended annual return of 2x the risk free rate. With a current 5% hurdle, I am not paying down mortgages that cost less than 4%. Debt at 5% is a wash. My realistic blue sky scenario is a 3-4X rate of return over the risk free rate which can be achieved with property, stocks so far for the past five years, and certain private equity investments. Where I am dragging is my blended average CD interest rate of roughly 3% from an old CD coming due. I’ve rolled some money into a 12-month CD with CIT Bank at 2.5%. It’s the best rate I can find. 

Money is important. Of that, there can be no doubt. If you don't have enough for your basic needs, and a few necessary wants, there's no chance of you being content or happy in life. Everyone knows this of course. In fact, the need for money is why most of us go to work. But it’s never really enough is it? There's always some place we want to visit or some gadget that we want to buy but we can’t because of our barren bank accounts. So how do we get that extra bit of money that we're always craving for? Leveraging the power of the internet to generate a steady stream of passive income is the answer.
And real estate does more than just track inflation – it throws off income (which is important to some people and useful to most). And while your underlying asset is appreciating, the income also grows as rents increase over time. And if you make smart and well-timed purchases, both rents and asset values can increase at well above the rate of inflation.
The other point is that it is pretty easy to get started.  You don’t need to be super rich, and you don’t need a lot of time to get started.  To say it requires no time would be a lie, but you don’t need to make anything listed above your life.  You can work at your job, invest your excess income, save to buy a rental property or rent out a room in your current house, and you start a side job online without breaking a sweat.
A few people who started their own YouTube channel when the video-sharing site was in its nascent stage are now millionaires. Now that YouTube has become immensely popular with hordes of people running their own channels, making a million dollars is considerably more difficult, but earning a respectable sum of money is still possible. As always, you'll need to find a niche that isn't yet saturated and focus on making engaging videos around it. Once you start raking up views and subscriptions, the money will start flowing in with minimum effort on your part.
Andrew Rafal, Founder and President of Bayntree Wealth Advisors in Arizona, recently told me about his push to get clients to diversify their income streams. The Great Recession feels like an eternity ago now that the economy is looking up, he says. The job market is strong and consumer confidence is through the roof. As a result, it’s possible people are getting a little too comfortable.

My dad is in  a similar situation as we speak, things have not been going well for him at work (but I do think he has himself to blame) and seems likely he will get let go.  Mr. Budgets and I both see how our parents are and we totally want to be on the other end of the spectrum when it comes to how they handle money. It motivates us to save and invest even more.
Add Leverage (Mortgage) and you greatly increase the ROI especially from the perspective of using Rents (other peoples money) to pay down the mortgage and increase your equity in the property over time. At this point then yes price appreciation is secondary bonus and we have an arguement of how and why Real Estate can be better than Growth Stocks in some scenarios and for some investors.
I actually spent a year and a half working as an affiliate marketer (mostly selling drumming related products – lessons, kits ect). 5 years on and one of my one page sites (which I’ve not touched) still nets me about $150 a month. I won’t be retiring off that but only really now appreciate the reverse pyramid approach to entrepreneurship (working for nothing initially but later being paid without effort!)
Putting your money into an established franchise business could also be a great source of passive income. Seeing that this type of investment offers a built-in process, wherein and they will mostly help you out in getting started and in its inner workings – even in finding a good location for your business. This allows you to have more free time as an owner.
Haha, that is too funny. I wanted to make an app back in the day called “MyShares” (You can probably tell how I cam up with the name at the time). The idea was that I would loan out books and DVD’s and then would never get them back. Then I thought, how cool would it be if I could rent those items out and that would motivate people to bring them back. Obviously, books and DVD’s are cheap, so this isn’t the money maker. The idea that would probably make the most money would be things like tools, ATVs, etc.

“Start-up time” required: Poor – Experienced niche site builders will be well versed with outsourcing certain tasks and running through the whole process very efficiently, but when you first start out, it can take a long time to earn your first dollar from a niche site.  Doing research, designing the site, writing content, and doing proper SEO work can all be very time consuming, and the payoff isn’t always something you can rely on.
I’ve had more jobs than I can count since I ‘officially started working’ at the age of 14. And I say officially because I was always hustling as a kid. There were the ordinary things like lemonade stands and selling my old junk at our family’s yard sales but I could get pretty creative when it came to making money. In high school, I remember asking my mom to give me extra bags of chips and snacks in my lunch so that I could re-sell them to my classmates for 75 cents or even a dollar. I was kind of a chubby kid so I guess my mom just figured I liked to snack a lot.
I’m a 45 year old business owner who also has focussed on diversifying my income streams. I have a short term vacation rental in Florida that I bought for $390k in 2012 and net rental income for the last three years has been growing steadily. 2015 I am at $70k gross right now but should end up at $80-85k with net around $45k plus we use the place about 35 nights a year.

British territorial expansion in India throughout the 19th century created an institutional environment that, on paper, guaranteed property rights among the colonisers, encouraged free trade, and created a single currency with fixed exchange rates, standardised weights and measures and capital markets within the company-held territories. It also established a system of railways and telegraphs, a civil service that aimed to be free from political interference, a common-law and an adversarial legal system.[108] This coincided with major changes in the world economy – industrialisation, and significant growth in production and trade. However, at the end of colonial rule, India inherited an economy that was one of the poorest in the developing world,[109] with industrial development stalled, agriculture unable to feed a rapidly growing population, a largely illiterate and unskilled labour force, and extremely inadequate infrastructure.[110]
I have to agree. Our Duplex cost us 200k initially in 1998. Over time and completely refurbishing the property with historically appropriate sensitivity, we invested another 200k or so. We just had a realtor advise us we could ask 700k for it today. It nets us 30k annually after taxes, insurance and maintenance. We still have a loan on it which I have not taken into account, that will be paid off within 5 years if we keep it. My mental drama now is, while I am quite giddy over the prospect of earning a tidy sum of profit if I sell, what then would I do to equal the ROI and monthly income this thing generates? Rents are low, they should be 4k a month and will only go up. Tempted to keep it and not sell. And while I do have some stocks, I basically suck at them. I am much better at doing properties.
With the way the economy is going Multiple streams of income is the way to go if you know what your doing. I luved your insight and your so right there are so many ways. The best way that i know of is to brand oneself cause people dont join business they join YOU. Like , trust is key ingredient along with building your list after all the money is in the list or should i say the people in the list. The best part with the system im presently using is i still get paid with affiliate even if they don’t join my primary biz…

You might be thinking one job makes you exhausted by the time you come home from work, how can you create second, third, fourth one and work so efficiently for them. You have to find out ways of creating multiple sources that are suitable for you and can add steady flow of income in your monthly salary basket. It could be as low as INR. 100/- per month but has to be steady.
So how do you get started with the EP Model? First, you need to be an expert in the eyes of those you’re looking to serve. And again, you don’t need all those qualifications and credentials. A lot of people gain expertise and credibility just by sharing their experience learning something, which is something I’ve done on SPI.com. If you think about it, many people in the personal finance or fitness space establish their authority by sharing their journey and their process. They do it by sharing their experiences—and you can do the same thing, too.
Education is one sector which is totally immune from recession. I wrote an article on education sector Education – Problem or Solution There are many opportunities in education sector to earn Second Income. You can work part time or during weekends. Like foreign countries, in India also there is a demand for online tutors. You can earn handsomely as an online Tutor.
The key here is not worry about getting picked. Just do it for your enjoyment and satisfaction. Rewards will come to you. You only have to stick to the topic of the blog. Once you've achieved some decent number of followers, you can combine your posts into an ebook and sell it on amazon.com or smashwords.com. Advertise about the book on your blog and social media platforms, give out some special discounts to those who order from your blog and plan to gift a freebie to the first 100 buyers or so. Be creative with it. My first ebook got me 7,000 rupees and I had made it in just 1 day. Imagine if you put more effort into it, you could write a bestseller, dude!
Hey Mike! Love this article. Recently, I paid off my student loans and am crazy focused on creating multiple passive income streams. Currently, all my passive income comes from real estate and because of your great articles on the subject I called to check out refinance options! I had no clue about CD laddering, dividend investing or P2P lending until two weeks ago when I started doing my research on where to put my hard earned money. I had been just saving it but when I looked at the terrible 0.01% return I said forget it! 2 % for me is a great way to start. It is better than what I have been getting outside of my real estate. Also, creating products is a must! I’m working on this type of royalty too. I find it so exciting to learn how to use your money to make money. Thanks and I will be sure to link to you when I start my blog!
Though it can take a while to build up enough cash to put a 20% down payment on an investment property (the typical lender minimum), they can snowball fairly quickly. The key here is to correctly project income and expenses in order to calculate cash flow (the free cash you can put in your pocket after all associated property expenses have been paid). However you have to be sure to include the cost of a property manager in your calculations unless you want to manage the property yourself. Even with a property manager, you may be required to make large repair decisions every now and then – so while this is not a 100% passive activity, you are not directly trading your time for money like traditional employment.

Self-Employed Income: This is a big shot played by you, where every shot is decided and executed by you. Where the success of your work is determined and expressed by your belief and performances. Yes, there are some demerits of the same for suppose you are sick or want a vacation; still you have to run the show and cannot be completely unavailable for a long time from your establishment.


You may think of a savings account as just that, savings. But it’s actually another form of income as the money in the account will draw interest. And while this interest may be small, it’s still better than $0. Eventually, you can invest this money whenever an opportunity presents itself in order to gain other income streams.  Look into Tax Free Savings Accounts if you are going this route.
4) Treat Passive Income Like A Game. The only real way to begin your multiple passive income journey is when you are making active income. The initial funding has to come from somewhere. Hence, treat passive income as a game that has various levels. If you fail to achieve one level, it’s not the end of the world since you still have active income and can restart. Furthermore, a game is meant to be played with integrity. Using shortcuts (non passive income streams), someone else’s income as a supplement (spouse), or one-offs (capital gains) does not count. The primary purpose of any game is to bring enjoyment to the player and beat the boss.
Poverty rates in India's poorest states are three to four times higher than those in the more advanced states. While India's average annual per capita income was $1,410 in 2011 – placing it among the poorest of the world's middle-income countries – it was just $436 in Uttar Pradesh (which has more people than Brazil) and only $294 in Bihar, one of India's poorest states.
In expensive cities like San Francisco and New York City, net rental yields can fall as low as 2%. This is a sign that there is a lot of liquidity buying property for property appreciation, and not so much for income generation. This is a riskier proposition than buying property based on rental income. In inexpensive cities, such as those in the Midwest, net rental yields can easily be in the range of 8% – 12%, although appreciation may be slower.

That strategy seems waaaayyyy less risky than actively picking stocks of supposedly “reliable” stocks that issue dividends, which could be cut at any time due to shifting industry trends and company performance. Dividend investing feels like an overly complex old-school way of investing that doesn’t have a very strong intellectual basis compared to index investing.
Putting your money into an established franchise business could also be a great source of passive income. Seeing that this type of investment offers a built-in process, wherein and they will mostly help you out in getting started and in its inner workings – even in finding a good location for your business. This allows you to have more free time as an owner.
​If you pay your bills with a credit card make sure it offers cash back rewards. You can let your rewards accrue for a while and possibly put the easy money you earned toward another passive income venture! (Be sure that the card you select doesn’t have an annual fee or you might be cancelling out your rewards). Check out this list of the best Cashback Rewards Cards.

Do you want to earn $100, $1000 — or even more — on the side? You can start earning extra income today with the help of this list of ideas I’ve put together. Spend an hour or two each day working on items that are practical for you, and you can build alternative income sources to help you improve your financial situation  While many of the items on this list are passive income ideas, not all of them are. Some items require you to actively work for success.


The 1872 census revealed that 91.3% of the population of the region constituting present-day India resided in villages.[111] This was a decline from the earlier Mughal era, when 85% of the population resided in villages and 15% in urban centers under Akbar's reign in 1600.[112] Urbanisation generally remained sluggish in British India until the 1920s, due to the lack of industrialisation and absence of adequate transportation. Subsequently, the policy of discriminating protection (where certain important industries were given financial protection by the state), coupled with the Second World War, saw the development and dispersal of industries, encouraging rural–urban migration, and in particular the large port cities of Bombay, Calcutta and Madras grew rapidly. Despite this, only one-sixth of India's population lived in cities by 1951.[113]


Buy a small business: A local small business, like a car wash or a laundromat, is a great way to put money down on a money-making venture. Automate it so you don't have to be on the premises unless you're collecting money. Go into a local business with your eyes wide open - study the books, especially on income and expenses, and examine water and utility bills if your venture will be open 24 hours.

As interest rates have been going down over the past 30 years, bond prices have continued to go up. With the 10-year yield (risk free rate) at roughly 2.55%, and the Fed Funds rate at 1.5% (two more 0.25% hikes are expected in 2018), it’s hard to see interest rates declining much further. That said, long term interest rates can stay low for a long time. Just look at Japanese interest rates, which are negative (inflation is higher than nominal interest rate).
The first thing to do is figure out what you are good at and more importantly, what you enjoy doing. You may be able to type extremely fast. Maybe you have excellent negotiation skills. You may be great walking dogs and enjoy the needed exercise. Maybe you have a knack for growing gardens that homeowners in your neighbourhood covet. Tons of people are out there who do not possess the skills you have. You may have a needed skill that can generate a lucrative income in your spare time.
The key thing to note in those various streams is how few of them rely on my active participation on a daily basis and how they are fueled from savings. My active participation is in the blogs and $5 Meal Plan. Everything is passive, outside of routine maintenance like updating my net worth record, and none of them would be possible if I didn't have the savings to invest it.
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