Hey everyone, welcome back to another video. In last week's video, I shared with you 10 ways that anyone can make money online and some of those were even
ways that I personally made over $1,000 a day with. Now in this week's video,
I wanted to change it up and make it a little bit easier. This week's video is going to focus on four easy ways to make
passive income online. And the goal of this video
is going to be to get you to $1,000 per month. Rather than focusing on
building a huge online business, this video is going to be for those of you who just need some extra
cash every single month and what better way to do
it than with passive income? So all four of the ways in this video are ways that I've personally done myself. All four of these can
absolutely get you to $1,000 per month, and these four ways are
very beginner friendly. Throughout this video, I'm going to cover these
four different ways starting from easiest and
moving into the most difficult. So depending what skill level or amount of work you
wanna put into these, you can pick which one's best for you. Now, as we go through these four, I'm going to cover three things for each. First is the overview
explanation of what this is and how you do it. Second, is the costs involved. What you'll have to pay to start this or if it's totally free to do. And then third is the earnings potential. So if you do this, how much you can expect to
earn in passive income from it. So starting out with the first
way to make passive income online, this is by far the
easiest way on this list. What this is is investing your money into a high yield online savings account. Now, this is the only one
on this list that actually requires you to have upfront
money to invest somewhere in order to make passive income, but that's why this one is the easiest. Now, the reason that I like this so much for making passive income is because it's just a savings account. It's not invested in the stock market so the amount of money that
you put into that account will always stay there, and then the amount of interest
that they're giving you will just be added to your
account every single month. Now, although these are called high yield online savings accounts, not
all of them have to be online. Capital One has one of these
high yield savings accounts and this is a bank that you
could physically walk into so it may make you more
comfortable to put money there. Now, just to give you an idea of how much interest they offer you, Capital One offers 3.4% interest. If you look at Wealth Front, this was one of the ones
that spearheaded this, one of the first players in the space, they're offering 4.05% interest right now and these rates are
even expected to go up. So if you do a quick search on Google for high yield online savings accounts, you can find a bunch of different ones with what rate they are offering. Just to give you a good idea of what these rates are right now, here's some of the highest
rates in the space. They're about 4.55% and they're offered from
quite a few different banks. Now, just to give you some
peace of mind about this one, when you open a high yield
online savings account, it's typically free to open and there's typically no minimum. So you could put in $1
or as much as you want. The big benefit here is that
these online savings accounts are FDIC insured. So just double check that if you're going with one
of these smaller banks, but almost all of them are
protected from the government up to 250,000 or in some
cases even up to $2 million in that account. So if something were
to happen to that bank, the government basically
insures your money so they will give you your money back. So the cost to get started on this one is just how much money you
have to move into that account. So it's not really a cost but more of an upfront requirement. So with that being said, let's now cover the
earnings potential on this. The earnings potential is
going to vary depending on how much money you have to invest, but first, let's just start
with a general $50,000. So if you had $50,000 and
you are making 4.5% interest, that would be $2,250 per year. If you divide that by 12, you're looking at $187.50 cents per month in total passive income. Now, the goal of this
video is to get you to $1,000 per month in passive income. So if you have $50,000 to move in here, that is a great way to get you on your way to the $1,000. Now obviously, the more money
you have to put in here, if you put something like 100,000, that's going to give you $375 per month in total passive income. So just like that, that's the first one. That's by far the easiest
way but the requirement is you have to have money to put into it. If you're someone who doesn't
have the money to invest here or if you just wanna
move on to even more ways to make passive income online, let's move into the second way. The second way that you can
make passive income online is the next easiest way and what this is called is
Quora affiliate marketing. Now, the overview on this
one kind of breaks into two parts here. So first is Quora and then
is affiliate marketing. So starting with Quora, Quora is a question and
answer forum, or essentially, a large website where
anyone can ask a question and anyone else can come along
and answer that question. Now it's not limited to just one answer, so you may have 5, 10, 15 people answering that same
question with their opinion. So that's kind of the
platform or the website we're going to be using
to do affiliate marketing. Now, what affiliate marketing
is, is basically you or anyone out there can partner with as many different companies as they want, all at the same time to be
kind of a brand ambassador or a commission-based
salesperson for that company. Now, to be an affiliate for
any company is totally free, and anyone can go to their website and apply to be an
affiliate for their company. They will give you a unique clickable link that you can share with people. And when you share that link
with someone and they click it, it'll get redirected right to the homepage or the specific product
that you are sending them to without the customer even knowing that it went through your link. But what this does is the company can see that they clicked your specific link and then if they end up making a purchase, the company knows that you
are the one who sent them the buyer and they end up
paying you the commission. The really important thing to note here is that when someone clicks on your link and gets redirected to
the company's website and makes a purchase, the cost for that product will be the same as if they just went to the website and purchased it themself. There's no added markup
to cover the commission that pays you. The commission comes straight
out of the company's profit. So with that being said, to
tie these both together here, and the way that you can make
passive income by doing this, is essentially first think
about what are your hobbies, what are your passions, what are the things that
you know a lot about? This is where you're
going to want to start and where you're going to wanna focus. For instance, if your
hobby is mountain biking, you may use Trek bikes. Your bike and all your
parts and your equipment might be Trek because they're one of the
biggest names in the space. So if you go to Google
and you type in Trek and then you type in affiliate
program or referral program, you'll find their page that
has their affiliate program. Now, almost all big companies out there have an affiliate program,
but not all of them do. So once you've determined what companies you're going to be affiliated
with or partnered with and you have your link from them, then you head over to Quora. So essentially on Quora, go ahead and just make your free account and now you'll be able to ask questions and answer questions. So what we are going to
wanna do is answer questions. So for the example of mountain bikes, you could simply type in
mountain bikes into Quora and then sort it on the
left side by questions. All of these are going to be questions that you can click into and
you can provide your answer. Now the whole concept behind this is you want to answer their question with knowledge that you have because this is your hobby
or this is your passion, things that the everyday
person probably wouldn't know, and that's what's going
to make your answer valuable to people and why
they're going to read it. And then the key here is
that you want to refer to whatever products you are
talking about in your answer with your affiliate link. So for instance, if someone's asking "What is the best mountain
bike for a beginner?" I'm sure at one point you were
a beginner in mountain biking and you probably have a good
recommendation for that person. Now, assuming that you use Trek yourself, you likely know which one of their bikes is the one that you would
recommend for a beginner. So what you wanna do is
write your answer to them explaining which Trek bike is the one that you would
recommend to a beginner and why. And then you can say, and here is the link
directly to that bike. This clickable link will go
right into your answer on Quora so when someone is reading that answer and they click your link, they will be redirected to Trek's website and they can see the bike right there. If they make the purchase of the bike, obviously no guarantee that
they will, but if they do, you will get a commission from Trek. You don't have to ship the product, you don't have to be involved
with customer service at all. It simply is just a
referral to the company. Now, the cool part here
is if you go over to Trek's affiliate program, Trek offers 8% commission
on parts and accessories, 4% commission on all bikes, and then 5% commission
on full suspension bikes. Now, if you know anything
about mountain bikes, the bikes are 2 to 5,000,
maybe even $10,000 for a bike. So if you're talking about
4 or 5% commission on that, you're going to make
several hundred dollars for every single person
that uses your link and purchases a bike. The beauty of this that
makes it passive income is your answer on Quora does not expire. So it'll live on there for years to come, and then your links
that you post on there, they don't expire either. So someone could click
that link in 2, 3, 4 years from when you answered that question and you're still going
to get the commission if they make their purchase. Now just a quick thing in
case you have this question, when you see in a program
the cookie duration or how many days that is, Trek specifically has a
30 day cookie duration. So that means that if
someone clicks your link, if they come back to Trek
within 30 days on their own, they could close their computer that day when they clicked it, and then in a week they come
back, go on their computer, and go to Trek and they
end up purchasing that bike or a different bike or anything from Trek, you get a commission on anything
they buy within 30 days. So moving on to the costs
involved for this one, it is totally free to do. Signing up on Quora to make an
account and answer questions is 100% free and then joining affiliate
programs is 100% free as well. And then lastly, the
earnings potential on this is basically unlimited. You can make quite a bit of money. You'll see what percentage
different companies are offering in their affiliate programs and how much their products cost. So that's the second way. It's the second easiest way
to make passive income online and you can stand to make
some serious money doing that. Now let's move on to the third way. The third way to make
passive income online is with a business called print on demand. Now essentially how this works is you create T-shirt designs, just the art file on your computer. You can use several different tools that I could talk about on how to do that. You upload that to print
on demand websites. It creates a virtual listing of what your design would
look like on an actual T-shirt and then people who naturally come to those websites
that you uploaded them to, if they see one of your
shirts and they like it, they can purchase it
right on that website. And then that website themselves
actually prints the shirt and ships it out to the customer, deals with all of the customer
service, and everything. What that means for you as the person who created that design is you just get kind of
a royalty or a commission on that sale. So let's say that there was
$10 profit on that shirt. Well, that profit gets split
between you and the website. The key bit of information here is that once you've created a design and you uploaded it to these
websites, for the most part, on almost all of these websites, that design or that
virtual T-shirt listing stays on that website forever. This is actually the business model that helped me quit my job because when I was working a part-time job to kind of pay my bills and
figuring out if I could do this online business thing full-time, I started to get into print on demand and I created as many designs as I could and uploaded them to the big
print on demand websites. This is all while I
wasn't at work, obviously. And then when I went back into work, I was making sales kind
of just in the background, and then also when I was sleeping, people in other parts of the world who were on different time zones were making purchases as well. So this was the first one for me that introduced me to
full 24/7 passive income. It didn't matter what I
was doing or where I was, I was still making money. Now, one of the important
things to know here is that although it seems like you
are selling a product here, so you would have to have kind
of a whole business set up, you're not actually selling the product. You're just uploading your artwork and then you get a commission or a royalty from the company who is
the one that's actually selling the product. So to do this business model, you don't need to set up a business entity or worry about actually
going into business. All of this can be done just personally. Print on demand is the
only one on this list that I actually already
have a full tutorial for. So if you're interested in doing this one, I'll link to a video on this channel that goes through everything from just kind of thinking that you
want to do print on demand to getting your first sales. Walks you through everything step by step kind of on screen recording
so you can follow along. With that being said, the
costs involved to start print on demand are totally free. You don't have to pay for anything. There are optional pieces of
software that you could use to help you with designing or finding good topics to
make T-shirt designs in. However, you don't need those,
they're totally optional. Now, talking about the earnings potential for print on demand, this is
another one that is unlimited. Essentially, the more
designs that you make and upload to the big
print on demand websites, the more sales you're going to get. It basically breaks down to that. So depending on how much money you really need to be making
here, that will determine how much work you're
going to have to put in and how many designs
you're going to have to create and upload. But for most people out there, once you start creating and
uploading those designs, you're going to see this
kind of slow trickle of sales start to come in. That'll prove to you that
this business model works. And then once people see that, they typically start to
create a lot of designs and kind of scale that business up. So with that said, there's
only one left on this list. This is probably the most difficult but it has great earnings potential. So let's get into this one. So number four on this list is
YouTube affiliate marketing. Just as we had talked about before, there was Quora affiliate marketing. This is now changing out the platform and instead of making a written
response, you make a video. Now if you're not sure that
this one's going to be for you, just hang around for a little bit. I'll explain how you can
start totally as a beginner and I'll even show you one
of my actual examples of this so you can see how much money
you could make in real life. So since we already discussed what Quora affiliate marketing is, you should understand
the entire concept here. All we're doing is instead of
writing an answer on Quora, you're creating a video and
uploading it to YouTube. Now the first big thing
to know here is that all you need for this
is a smartphone camera which will also record your audio and you just need a way
to hold that camera up. Doing a selfie is really not going to be
the best way to film this so you're going to want a tripod. You just need what could
be a simple $20 tripod that can hold a smartphone. Now what's cool about this one compared to the Quora affiliate marketing is on Quora, you have to answer questions
that other people have asked. On YouTube, you can actually create videos on whatever you would like. So simply, if we're going off
of the mountain biking example we were talking about previously, you could create a mountain bike review. So whatever specific bike that you have, you can make a review
video about that bike. Now, what you want to cover
in this video are things like was it worth the amount
that you paid for that bike? After owning it for the
amount of time that you have, would you still buy it again or would you consider something else? How has the bike held up over time? How has the performance been? All of the things that
you would tell someone if they asked you, do
you recommend that bike? Just make sure that whatever
product you are talking about, you put your affiliate
link to that product in the description of the video. Now again, YouTube videos
and your affiliate links will essentially last
forever on the platform so people will just naturally
organically find those videos and click on your links over time. Now talking about the
costs involved on this one, it's totally free to do. Using YouTube and joining
affiliate programs, there is no associated cost. The earnings potential here is another one that is truly unlimited. The more of these videos
that you do on YouTube, the more people you're going
to see clicking your links and the more passive income
you will make in commissions from the companies. So now let's get into the
computer, and I can't wait. I wanna show you a real example of this. I have been doing this
on other YouTube channels that people don't even realize
that I own for years now and I do actually practice what I preach. So here's a real example. Okay, so what you're looking at here is the most average video I could find from one of my other
channels here on YouTube. It's not associated with me at all. So I wanted this to be proof that anyone could start this with no following. You don't need to have
any of the advantages that someone that already
has a following would have. So this is a video that I
made just over two years ago from now, and it's
reviewing a physical product and this video was
recorded on a smartphone. So this is everything that
I am advising for you to do and here's a perfect
example of how much money I made from it. So as you can see, this
video has about 25,000 views over the course of just
about two years time. All of this traffic just came naturally from people on YouTube
finding it on their own. Now, talking about passive income, just over two years later,
this video is still getting about 27 or 30 views every two days. So if you say that's
about 15 people per day are watching through this and potentially clicking on
the link in the description and making a purchase, that is
just straight passive income. I don't have to do anything
to get those people to see the video. So with that said, how much money has this
actually actually made? This company has been
paying me a commission on all of the sales just
from this specific video every single month for the past two years. Sometimes they even pay twice per month. When you add up all of the commissions, it's made about $1,000 in straight commission,
or straight profit. Now on YouTube, once you
have 1,000 subscribers and 4,000 watch hours on
your videos in the last year, you can actually start to make money from advertisements as well. So those ads that play before,
during, or after a video, you get paid from that. So as icing on the cake,
this video has made about $250 in ads from YouTube
over those two years or so. And this video that I
showed you was specifically one of the most average
videos that I could find on my channels. So one single video filmed on a smartphone is about $500 per year in my experience. If you break that down on a monthly basis, it's about $42 per month in passive income from that one single video. Now if you simply make 10 videos, you multiply that number by 10. So now instead of $42, you're at $420. That's on a monthly basis and
that's pure passive income. So to put all of this into perspective, in order to make that $1,000
per month in passive income, at this average rate that I
gave you of $42 per month, that would be about 24 videos. So guys, hopefully that gave
you some good realistic ways that you can make passive income online. I hope this video has been helpful. As always, if you have any questions, just let me know down on the comments. Otherwise, I'll see you
all in the next video.
