How To Make Passive Income

Passive Income By Shopping

I am pretty happy this morning. We run on a budget and one of our goals is to have no credit card debt. I’m always looking for new ways to make money and one of my favorite ways is without a lot of work.

Passive Income Joins the Chat

About a month ago, I downloaded an app and like most people got busy with life and promptly forgot that I had the app.

50 Year Old Invisibility Cloak

AARP has been courting me since I hit that magical age of becoming invisible. – 50! Insert disbelief here.

I went ahead and got the five-year membership because it was cheaper per year. The cost was $63. I should be getting my trunk tote in the mail soon. You know you are older when you are excited for getting trunk tote!

Then, this morning I remembered the app and checked it. Yay! I earned $20 cash back. So my membership costs only $43 dollars and I have an extra unexpected $20 to spend on ANYTHING I want and I’m thinking I want hiking socks.

More Passive Income

I’m going to look into more ways to make income without having to do a lot of extra work. I don’t believe any income stream is truly passive. However, I would like to generate more income for our family without having to go to work from someone else.

Before starting my business and writing a best-seller. I worked as a freelancer for multiple companies and realized I was making them hundreds of thousands of dollars and in one case millions, but I was putting in a ridiculous amount of effort into making them have passive income. That is when I decided to shift my focus and focus on making passive income.

I have income from my best-seller however that payout is once a year. I also and generating income from KDP book sales. And, I am launching downloadable coloring books.

All in all, I want to generate more than a fulltime going to work at an office income and I want to make passive income for most of the income.

Passive Income Is Not Passive

Do realize that anyone telling you passive income is truly a passive endeavor isn’t telling the full story. With my best-selling book, I spent a year hiking trails, mapping, photographing, writing, editing, and editing again before it was done. It was a lot of work to get to the point of having a viable product to earn income from.

KDP Learning Curve

Same for the coloring books, it takes a lot of work and there is a learning curve to working with KDP and creating a book that people want to buy. Then you can advertise and I suspect that is what people who claim to be making thousands of dollars right after publishing their book are doing.

Yes, you will make thousands but you will also pay thousands for it and likely not see much of a profit after all the expenses and of course saving a portion of your royalties for taxes.

If you want to make money and not pay for advertising, then you will need to put in a lot of social media work to let people know the products or services that they can buy from you.

Can You Make a Passive Income Doing Nothing

Short answer is no. Long answer is yes you can if you have a viable product and market your product either with ads or social media. If you’d like to join the journey and learn more about making a passive income subscribe to my Make Money newsletter.