Passive income can lead directly to earning cash while you sleep -- if you do it right. Let’s be clear, you’re not going to start a blog and immediately start raking in thousands of dollars per week. I am saying them because I survive through passive income. The trick with freelancing is to take up jobs that you are good at. By this, he will earn rent every month without doing any work. It’s hard for new players to gain any meaningful traction. Read the book Tribes by Seth Godin to understand this better. With YouTube, you earn money via ads that appear as people are watching your videos. Blogs can be monetized by including traditional ads or through affiliate marketing, a process where you get a commission payment for referring customers to a product or site. For example,  if we talk about real estate there you will have to take rent of $100-200, for which you will have to buy a real estate worth $40-50 k. So here it will happen a maximum of $10-15 k yearly. The great thing about passive income is that it can help you achieve financial freedom more quickly. All that you need to do is sign up. Privacy If it’s a blog, you are going to want to make sure that it has enough visitors to make it worthwhile. The last week before a long school break can be a free-for-all, with students dumping valuable items so they don’t have to store them. That’s how I was able to build up my passive income. Avoid putting too much of your money into one bucket, no matter how “hot” the stock seems. However, they are not as many as many would think. Today, the world of publishing has become rather liberalized. Prepayment Calculator, Outsmarting Student Loans on a Teacher’s Salary, Shaving 17 Years Off With Bigger Payments, One Doctor Who’s Conquering a Mountain of Debt, Tips from One Woman’s Side Hustle Victory, How to Answer Interview Questions – The Guide, How to Get Help Paying for Continuing Eduction – The Guide, 5 Best Certifications to Make the Most Money, Tips on Deferring Tuition for Coding Boot Camps, Tips on Paying Student Loans vs Investing, How Much to Save for Retirement – The Guide, How Much to Save in Your Emergency Fund – The Guide, Paying Off Student Loans vs Investing – Calculator, How Getting a Personal Loan Works – The Guide, How Paying Off Credit Cards with Personal Loans Works, How to Increase Your Credit Score – The Guide, 4 Best Credit Cards for No Fee Balance Transfers, Public Service Loan Forgiveness Calculator, 6 Best Lenders to Refinance and Consolidate Student Loans in 2020, Bonus: Other ways to earn more without cutting into study time, Top Banks to Refinance and Consolidate Parent PLUS loans, How to Lower Your Student Loan Interest Rate, What to Do When There Are No Private Loan Forgiveness Options, Ultimate Guide to Paying Off Student Loans Faster, Complete Guide to Income-Driven Repayment Plans, Complete List of Student Loan Forgiveness Programs. By visiting LendingTree’s site, you accept and agree to be bound by LendingTree’s Terms of Use.