$100 a month passive income can be obtained by anyone. If one is new to passive income and hasn’t tried to generate it before, then those $100 a month in passive income can seem far away. But trust me, it’s not.
How to generate $100 a month passive income
If you don’t quite know what passive income is, it’s income that’s flowing into your account without any or low effort. You can read more about, what is here.
But how do we get $100 a month passive income into our bank account?
You think about it like an avalanche. The smallest things often trigger the biggest avalanches. Thus creating multiple, but small passive income streams can lead you to your first “$100 a month passive income”.
We’ll now break it down into practical steps or options that you can benefit from straight away.
Earn $20 a month from writing
“Hold up, must I write? Then it’s not passive!”Panicking reader
Relax. Every passive income needs some upfront work, and writing is something that doesn’t take up much time, but it can very profitable.
For instance, I’ve multiple articles on Medium, in fact, I have one that’s earned me above $600, and I only used 30 minutes writing that article. If that’s not passive, I don’t know what is.
But you don’t even need to make that much. If you can just make $20 a month from a platform like Medium then you’ll hit that $100 a month passive income before you even know it.
Earn $20 a month from digital products
Creating a digital product and earning at least $20 a month from it is way easier than you think. I made one, or actually, I got a freelancer to make one for me, and it has generated between $25 to $50 a month since published.
You can get one to do it for you as well, and it’s almost free. Take a look at how I did it here.
Make $10 a month from dividend stocks
If you can find some high-paying dividend stocks, and you invest a great sum of money into them you might be able to receive $120 a year, which is equal to $10 a month. For instance, a dividend stock like realty income pays monthly dividends of $0.247 per stock you own.
Disclaimer: This is not a buy recommendation or anything close to it. I’m just informing you about a dividend stock that I’m invested in.
Make $30 a month from monetizing your stuff
To come closer to $100 a month passive income we need to look at this awesome opportunity. While many people don’t think about this, I do and I would like to share the idea with you.
Think about what utensils, tools, remedies, etc. you don’t use that often, and consider renting it out to people in your local area.
Your smart new blender might be something your neighbor cannot afford or maybe something he/or she only needs for a special occasion, thus it wouldn’t make sense to buy one. That’s where you come into play. Rent out your blender for a small fee of $10, and you only need to rent out your things 3 times a month before you hit the $30 mark.
If you rent out stuff more than that, then you are just awesome.
Earn $20 a month from storage space
I bet you have room or maybe just a minor space you don’t use that much. Consider renting it out as storage space for only $20 a month. I know what you’re thinking “$20 a month, that’s a steal”.
I’m glad you think that, because it indicates that you might be able to rent out the space for even more, and then the other passive income streams don’t have to generate as much as stated above.
Should I do all of these ideas?
It’s totally up to you. I’m able to earn between $1,000 to $2,000 each month from Medium alone (not to brag), but I’m trying to find new ways to generate money since I don’t want all my eggs in the same basket. And you could earn above $100 passive income from just one of these ideas alone.
However, I would always recommend having multiple income streams, since one just isn’t enough, especially not in these uncertain times.
You can earn $100 a month passive income from these 5 ideas combined or from one of them alone. It’s your choice. And as you continue your passive income adventure you might soon see those $100 turn into $200, and then into $500, and so on.
Play with your imagination, be creative and start your next $100 a month passive income today.
Read more about passive income here