My Passive Income Streams [6 Ways]

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hey everyone today i wanted to share my passive income story to show you how i'm earning 3 400 per month with my six passive income streams in this video i'll be sharing all of my passive income streams including how i started them how much money i make and how much time it takes me to do these things per month and i'll also be sharing with you some tips on how you can get started implementing these passive income streams into your life and make sure you stay till the end of the video so you don't miss out on any passive income streams and if you do enjoy videos like this please like and subscribe to my channel because i do make two new videos every single week about how to make money how to save money and how to be a more productive person and make sure that you do subscribe to my channel so you don't miss out on any future videos first let me just explain the difference between passive income and active income active income is like my regular nine to five job where i work as a marketing manager i get paid to work five days a week from nine am to five pm at minimum every single week it doesn't really matter how many projects i work on and how many times i get done i just get paid for my time every month and that amount doesn't really change unless i do get a raise having a full-time job does have its benefits including it's a steady source of income it's much easier to get a loan from the bank and you're being paid the same amount every month so it's really easy to budget and manage your money however it does have its limitations too for example how much i earn is determined by how many hours i work and that doesn't really change depending on how productive i am or how valuable i am to the company and so i only have so many hours in the day to make money and it's also quite hard to keep increasing your salary too at best you can make a salary increase of between five to ten percent per year but once you get to a certain salary range it's really hard to earn more money for example when you get to about two hundred thousand dollars per year it gets really hard to keep earning more money from there passive income is the opposite of this an example of passive income is the book the barefoot investor written by scott pape scott pape wrote that book the barefoot investor four years ago and now four years later he's sold one million copies of his book to sell one million copies of a book mainly focused towards australians is really really impressive it may have taken him a while to write and publish his book however now that he has published his book the hard part is over and he can still collect income even though he published his book a long time ago here comes the money essentially how much money he makes from the book the barefoot investor doesn't depend on how many hours he worked on that book for the money that he can make is exponential this is what separates passive income to active income passive income does take quite a lot of time and effort in order to get started however once you do have it up and running the growth that you can make from it is exponential have you read the book the barefoot investor let me know in the comments i read every single one of your comments and i would love to know your thoughts and i would love to know your thoughts on what you thought of the book and if you have read it or you haven't so now i'll get into my passive income streams that i've built up over the years the passive income streams that i will be talking about in this video is income which is generated passively and requires little to no effort so this income comes on top of my full-time marketing job my part-time contracting work that i do as a side hustle and also the investments that i've made in businesses long term which i don't take money out of so let's get into the video the first passive income stream i use is affiliate marketing i'm a digital marketer and i do have clients i work with outside of my regular nine-to-five job and i help them grow their business an example of how i use affiliate marketing with this is i have a client who runs webinars however their website isn't that great so i recommend them getting a landing page software in order to generate more registrations for their webinars what i do is i send them my affiliate link so that they can sign up to the landing page software that i recommend the best part about this is it's exactly the same price it is for my client and it is the right software for their needs and their goals for their business however when they do sign up using my referral link i do get a commission of that sale every month the commission varies depending on the tool but it's generally about fifty to two hundred dollars each month from affiliate marketing i make 400 per month and i don't have to spend any time on it at all and i always ensure that any tools that i do recommend for my clients are the best tools to help them fulfill their business goals if you do want to get started on affiliate marketing i highly recommend just having a look at the tools that you already recommend to your friends or your clients have a look into those websites or tools and see if they do have an affiliate marketing program and if they do you can essentially get free money just by recommending tools that you already know and love you can simply see if they do offer an affiliate program by searching the name of the tool that you use and they're just searching affiliate next to that so the way that i make most of my passive income is through my e-commerce business flores this has been a journey i started by investing 500 into the business and then slowly just adding a little bit more extra money every month as the business grew and expanded so this is how i started it and how i managed to grow my business so how excited it was i found a product that i like and i buy often which are these false eyelashes i thought it was a really great product with great demand and in a good niche next i started ordering samples from suppliers and tested so many different eyelashes to find the best one and then i built a website which took about two weeks in order to sell my false eyelashes online and then i started setting up all of my different social media platforms like facebook and instagram then i got the packaging and the logo designed and then i finally bought stock from the supplier and started to put my eyelashes out there on the website and then i started marketing the product using google ads facebook ads and instagram ads and optimized the website to promote the product through seo with time and perseverance the revenue is growing month or month and year and year last month i made five thousand dollars in revenue of this five thousand dollars i spent one thousand dollars on stock one thousand dollars on marketing and five hundred dollars on shipping on average i make fifty in profit so last month i made 2 500 in profit the great thing about this business is now it only takes me 30 minutes every day to pack and ship my lashes off to my customers and when i have time every week i do try and make some website optimizations and some optimizations to my digital marketing however this isn't really necessary because even if i just stopped all of the activities that i'm doing and just let everything run on autopilot i would still be making money it's really good now because i've committed to providing a really high quality product at a really great price and ensuring that all of my customers have a great experience so a lot of them do come back and keep ordering more lashes and if you do want to get started with building an online business but you don't have a lot of money in order to get started what you could do is try something called drop shipping drop shipping is essentially listing a product online and then once somebody buys that product you buy that product from a supplier and send it off to your customers this is a really great and easy way to make money because you don't actually have to invest a lot of money in buying stock and this is a great way for you to test the market and see if there actually is a demand for the product that you're selling and if it does start working then you can maybe invest more money into building a website and building a brand of your own so the third passive income stream that i have is my travel blog voila travels which i started in 2017.

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So every time i would go on holidays i would take lots of photos and write a blog about all the best places to go i used to do it quite regularly however i haven't touched the site in quite a long time because i've been focusing on other sources of passive income so the way that i generate money from this travel blog is i have these display ads on my website and these advertisers pay google in order to display ads on my website and google pays me a cut of that money every month so the more website visitors that i have the more money i can make it's not a huge source of income i only make about fifty dollars per month however fifty dollars is still fifty dollars for something that i'm not spending any time on at all i also do share my referral link to airbnb on my travel blog and i have had quite a few people sign up to airbnb through my referral link so i've made about 300 in airbnb credit by displaying it on my site and i also do sometimes have people requesting to be featured on my travel blog so i do make a bit of money from that as well if you are passionate about a subject perhaps you can start a blog yourself and start generating an income all you need is a website and an adsense account in order to start generating income there's no minimum you can get started with any size website big or small so another passive income stream i have is renting out my garage i have a spare garage which i don't really use at all i took some photos of it and listed it on spacer which is a website like airbnb for storage and garages and i rent it out for 250 dollars per month which gets automatically transferred to my account every month i guess you could see this as real estate investing on a smaller scale so if you do have a spare bedroom or a spare parking spot that you don't really use perhaps you could rent it out on a website like spacer or airbnb and when i do go on holidays sometimes i do rent out the spaces that i have because i'm not using it anymore on airbnb so that's another really great passive way to earn some money so the fifth income stream that i have is website hosting this also comes from my digital marketing contracting work i've built a few websites for people over the years and so i offer to them website hosting and security as a service so what i do is i pay a flat fee to a website hosting provider to host multiple websites and then i charge my clients a monthly fee in order to keep their websites up and running on the hosting platform and secure i earn 200 per month from this and it takes me about 30 minutes every month in order to double check update plugins and ensure that the clients websites are running smoothly so my next passive income stream is youtube but i do need your help because i need at least a thousand subscribers and 4 000 watch hours in order to get monetized so just you watching this video is really helping me on my journey so thank you so much the reason i make these videos is i want to help inspire as many people as i can become financially independent and change their future so if this video did help you i really do appreciate you liking this video and subscribing to my channel i also make two videos every single week about how to make money how to save money and how to set yourself up for financial freedom so please subscribe to my channel so that you don't miss out on any future videos and let me know in the comments what passive income streams you're working on this year i read every single one of your comments and i would love to know your financial goals see ya you

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