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9 Ways How To Generate Passive Income In India
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| Freepik |
If I tell you that you can earn money while sleeping, will you believe it?
But you read right because it is the power of passive income.
And here, I will guide you on— how to generate passive income in India as a colleage student, even if you have no money.
All is well, but why is passive income so important than active income?
That is the actual question, and most people don't understand it because no one tells them in a simplified way.
Everyone is telling a lot, but they are not easy to grasp, so here I will try to make it easy with a story.
Why is passive income so important, and what is that?
Passive income is something that you can earn big with minimal effort. It's a funnel that will generate money while sleeping. But you have to put in some initial effort without getting paid.
Let's understand the importance of passive income with the story of John and Steve. And try to know how to generate passive income in India as a collage student with this story.
Mr. John and Mr. Steve are from two different towns. Both towns A and B don't have water, but there's a river.
So John from town A decides that he's going to be the one to bring water into his town.
So he grabs a few buckets and starts bringing all the water he can.
And begin selling it to the people in town who are desperate for water. And the people of town A are willing to pay an attractive price.
So John starts spending all his walking hours bringing water into town and selling it. And by doing this, he starts making money.
On the other hand, in town B Steve has determined that he's going to be the one to bring water to his town. So he spends the next six months creating a funnel. So that funnel can bring the water from the river directly to his house.
Steve doesn't get paid for this, but after he's done it, he starts selling the water to the people in town for an attractive price.
But there is a twist in the story, John from town A got sick. So he can no longer bring water. Since his income is dependent on his labor, he loses his income.
On the other hand, Steve also gets sick. But since he already has built the funnel to bring water from the river to his house. So he hires someone to sell the water for him, and he still makes money whether he is physically there or not.
The main difference between John and Steve is that John works to get paid, and his income depends on his labor, while Steve decides to work for some time. And this time is six months without getting paid. Here Steve has created a system that will generate passive income.
The main idea is that the rich don't work for money, but the poor work for money. And that is one of the reasons why the rich get richer; the poor get poorer.
Let's look at the same example to understand passive income.
Once Steve has done the first funnel, he can go to town A and build another one. And even he can run John out of business.
And then he can go to town C and do it again. And then towns D, E, and so on. Thus he will be generating income from all of this funnel. That is called an asset.
So John has to work every single day to earn his paycheck. But Steve gets it even if he isn't physically there.
Again, most people work for money while the rich build system to generate passive income for them.
Robert Kiyosaki explains that our financial lives are run by two emotions fear and greed.
The fear of not having money to pay our bills makes us go to find a perfectly normal job, and it happens to most of us. So then we get a job and start making money.
Eventually, desire kicks in, and we start thinking about all the cool things we can buy.
We started thinking about those new jordans that just came out. We started thinking about that car that we wanted. And then we spend all of our money. So the fear of not having money kicks in again.
And then a pattern is created we work. We get money; we spend it. And then we're back to square one every month. And this is what is called the rate race.
Dominating these emotions can help us achieve more lasting wealth. For example, dominating fear can help us work without having to get paid to be able to create an asset. And dominating desire can help us avoid spending money on things we don't need.
So pay attention to how fear and desire play a role in your financial situation, and avoid the rate race.
To be rich you should create a system that generates passive income that will work for you.
(Story credit goes to this YouTube channel)
What are the best ideas to generate passive income in India as a collage student?
There are so many ideas available on the Internet, and some ideas already have known to you.
But the problem is fear of losing, which is why you are not taking action.
So here I am not going to share only the best ideas, but also I am going to share how you can overcome your fears to make your dream real.
#1. Generate Passive income through YouTube.
Take your phone and share your creativity with the remaining world.
And it is the simplest way to generate some real money from YouTube.
YouTube helps you to create multiple funnels to generate passive income.
And this feature makes it unique from other social media sites.
Your new videos will be a source of active income, whereas old videos will generate passive income.
Even you can share affiliate links in your video description to earn extra money.
And by doing this, you will get a commission on each sale when someone buys through your affiliate link.
#2. Passive income through real estate.
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| Source: seedly |
Make a one-time investment and count bucks in your whole life.
Buying commercial land to generate monthly income is the oldest way of generating passive income.
Although generating passive income through real estate is old, it is effective.
So if you have some money to invest in real estate, then you can do that.
If you are wondering how you can afford it, don't worry! Smart alternative available.
You can invest in REITs (Real estate investment trust) instead of buying real estate directly.
And this way, you will be free from stress as well as you can start with only Rs.50k, isn't amazing? If you want to know more about REITs, let me know in the comment.
#3. Passive income through e-book selling.
I like this method. If you have any skills or even if you have a unique story, write it and hit the publish button.
You don't know people are eagerly waiting to read your story.
So you can publish your e-book for free on various platforms, and Amazon is the best among them.
Amazon Kindle shares 90% revenue with its creator. And I think this is the best way to generate passive income in India.
To publish e-books on Amazon, you don't need to invest a single dollar to earn a side hustle. Once you have published an e-book, then you will eat fruit forever.
#4. Passive income through Shutter Stock Photo (Photography selling).
Turn your phone camera into your money-making dad.
If you have a good-quality phone camera, you can make passive money from it. And even you can make active income as well.
Only you have to be a little creative to click sellable photos.
Many digital marketing agencies and individual digital creators are waiting for your unique piece of photography.
So click the best photos and upload them on Shutter Stock. By doing this, you will get royalties on each sale.
#5. Passive income through stock market investment.
Maybe you have heard about Warren Buffet and Rakesh Jun Jun Wala.
They have made history on passive income through the stock market.
Rakesh Jun Jun Wala is from India, and he has generated a lot of money from equities, mutual funds, and index funds.
If they can, then why do you not? You can start your investment journey only with Rs.100 in India.
Because investing is the only way to achieve financial freedom.
And all financially literate people do that, which is why Albert Einstein believes that compounding is the 8th wonder in the world.
So if you want to earn passive income through mutual funds or equities, check out our recommended brokers: Paytm Money & Upstox
#6. Passive income through Udemey course selling.
If you have any skills that you teach others, then sell your video tutorial on Udemy.
Udemy is the world's largest skills-learning platform, where many educators generate passive income.
There is no language barrier at Udemey. So you can sell your courses in any language.
Once you have launched a course, you will earn money throughout your life.
But you may have to update some clips of your videos according to market needs.
#7. Passive income through cryptocurrency staking in India.
Young people are more interested in cryptocurrency than in traditional share markets.
I hope you have noticed the craziness of crypto enthusiasts during the recent bull run.
And I know it is the riskiest market because of the uncertainty about regulation in India.
But you can invest some of your money to learn and understand this emerging technology and decentralized financial system.
I'm very excited about Web 3.0, so I have invested some money in Web 3.0 and DeFi projects.
A few well-known, DeFi projects are available on the market. It allows you to stake your coin to generate extra money. Some are Pancake Swap, Sushi Swap, and Avalanche.
Most crypto-staking platforms give 20% to 30% yield yearly. CoinDCX and Binance are our recommended centralized crypto exchanges. So you can try them.
#8. Passive income through blogging.
You are reading this article on my blog, but I'm earning money for your reading.
How is it possible? Simple, through affiliate commission, and google Adsense pays me for it. And blogging is one of the sources of my passive income.
So if you want to earn money through blogging, you can do that by sharing your knowledge and experience with others.
To start a blog, you don't need to be a too-smart guy.
Anyone can start a blog if they know how to cook delicious food or how to write the best captions for Instagram.
PS: I mean any skills you can monetize through blogging.
When will you be getting paid?
Once your blog has started getting traffic, you will earn passive money from your blog. To make good money, you have to write quality content over quantity.
And it is the best way to generate passive income in India. Because a blog lets you monetize your written content in various ways. Such as affiliate marketing, Google Adsense, and paid promotions.
PS: Know about 9 best blogging platforms
#9. Passive income through affiliate marketing.
You have bought a beautiful dress, and it's ok, but have you monetized your dress to earn money from it? I'm sure you didn't!
You can earn money from your purchase by sharing a buying link with your friends or on your social media.
If anyone purchases through your affiliate link, you will get a commission.
Maybe your question is, is it worth doing?
Do you know? Many affiliate program share 90% commission on promoting digital products like software and other websites plugins. So you can also try that.
But if you have no idea about these things, you can generate passive income in India with some alternatives. Such as Amazon Associates, Commission Junction, etc.
Amazon affiliate marketing is the best affiliate program. And many Instagram influencers have been earning pretty good money from Amazon affiliate marketing, so you can also do that.
Read this article to learn how to make money from Instagram reels.
In a nutshell, how to generate passive income in India as a collage student?
Create a system that generates money while you are sleeping.
Make an engaging social media profile and share knowledge on it.
Try to publish articles on mediums like publications or start your blog.
Read all the mentioned ways to generate passive income in India and first choose one that you can execute.
You have enough time to do various experiments if you are a student. So take risks and enjoy both loss and profit as well.
Dilwar
Dilwar is a freelance SEO-optimized content writer and crypto enthusiast. Here he shares Crypto, NFTs, Blockchain, DeFi, Metaverse, and Content writing-related articles that are fun to read. He is known for Easy Peasy Content☻︎.
nice information
Keep learning 🥰