Welcome to today’s topic:
How To Create Passive Income Online (Even If You Are Completely Broke)
- 1 “How To Create Passive Income Online (Even If You Are Completely Broke)”
- 2 What is Passive Income Online?
- 3 How to Start Creating Passive Income Online?
- 4 Final Thoughts
- 5 Che’s Top Recommended Programs
“How To Create Passive Income Online (Even If You Are Completely Broke)”
Financial freedom online is the best and most convenient lifestyle you can ever achieve as you can manage everything – anytime and anywhere. And good thing is, everyone can actually achieve it by building different types of passive-income generating assets available online.
Obviously, in order to achieve financial freedom online, you need to create income-generating vehicles that can generate passive income streams without you having to trade your time.
Is that even possible?
A big YES.
Passive Income Online?
If you are new to creating passive income online and wondering what we mean about it, passive income is basically anything that generates income, revenue or earning without spending or trading a lot of your time- something that can earn you money even while you sleep.
Passive income online is basically, from the word itself, the income you can generate and manage online. What’s cool about this, is that you have everything you need to create passive income online.
Actually, they are even right in front of us every day and some of them are something that we easily can get access today- computer, mobile phones, internet connection plus your own determination and goals.
Our modern technology has been and will continuously be evolving over time. As a matter of fact, the financial world is already digitally advanced – credit cards, e-cash, online stock investment, forex, digital currencies. Literally, all kinds of businesses are found online today.
On the other hand, while the digitalization has made a lot of things faster and easier, it also has made things complicated for those who are left behind technological advancement. If you are not using it on your advantage right now, then you better start sorting out of the ways in leveraging it today.
How to Start
Creating Passive Income Online?
The start is always the difficult part. That’s a general thing, right? Now, I don’t want to talk about babies when they start to walk or talk, but it’s basically the same principle when you need to learn some new and something very important.
Having the right mindset and setting your priorities are the magic words when starting to build passive income streams online.
When you really need something very important, you will really to go for it no matter how many times you fall in every single step or commit mistakes in every single word.
Ultimately, the process is the same in creating online passive income. Do you need it? Then, go for it even if you have to fall many times and get up every time you fall. You literally need to practice until you master it.
That’s basic, right? However, sometimes, we tend to forget about those basic things in life. The principle is actually the same with any goal you want to achieve in life – start with the basics.
People Get Scammed?
When people are looking for an online opportunity, the majority wants to run and jump even before they learn how to walk. They even want to sing in the opera even before they learn how to talk. In other words, they simply want a quick result (who doesn’t) and by doing so, they simply end up to fail as they are too vulnerable into scams.
I know that from my personal experience when I started in online business back in 2009, I thought it was too easy just because someone told me so. Then, I just jumped in without any suspicion – I just want an overnight result. Of course, I failed – many times before I realized the basic principle applies in online business too.
Do you need time freedom? Do you need financial freedom? Then you have to learn how to achieve it from scratch. Give it reasonable time and effort. Start slowly but surely and never go for a quick rich scheme online as 99% of them are just garbage programs if they are not scams.
If you are scared of getting involved in scams, please read my screening guide on How To Spot Online Scams (including the 14 red flags you should be aware of)”, so that you can more or less see whether the online opportunity is legit or not.
Different Ways In
Building Passive Income Online?
We know that building passive income requires investments – either money, time or effort. In most cases, you need all of them if you want to accelerate achieving your goals (If you know how to do it right).
The good thing is even if you don’t have any money you can still start building up.
Here are the 3 scenarios that most people are commonly into when they are ready to start building a passive income online:
- Completely Broke And Need Instant Cash
- Have Time But Have a Little Money
- Have Money But Have a Little/No Time
If you can see yourself in one of the cases above, then read on.
Let’s take a look at the practical steps needed to finally start building a passive income online in every scenario:
I’m Completely Broke
Unfortunately, a lot of people who are looking for extra income online are completely broke and they seriously need help in improving their personal finance.
Getting an extra $500 monthly income can tremendously improve the personal finances of most of the people who are looking for online opportunities.
The advantage of being completely broke (if I may say so in my humble opinion) is that you will be most likely away from scams. Why? it’s simply because you literally have nothing to lose (aside from the time and effort).
Why am I saying this? This is because there are a lot of convincing and very deceitful scams out there and believe me it’s not easy to detect a scam if you don’t know the signs of it.
Believe me, I already experienced scams many times years ago and I already made a lot of online business reviews – almost 99% of the money making programs out there are either garbage or scams.
Okay, let’s move on to the practical things you should do to get started building your passive income online.
- Review your budget and make some possible adjustments to save some money to create an emergency fund and to pay off your debts. You can start making your personal budget with my guide here.
- Do some online hustles that can earn you instant cash. See my ultimate list of 130 websites that will pay you $50-$3,000 per post, article, poem, etc. This is highly recommended to those who can write English in 9th-grade level or up. You don’t have to be professional.
- If writing is not your cup of tea, then you can consider other gigs on fiverr.com and here are the 15 great ways to earn money from it. it’s completely FREE. However, the earnings will not be as much as when you do writing gigs from the above list but it’s a good place to start earning money instantly.
- Start building up your own website while doing writing gigs as a side income. take note, there are a lot of online writers who are happily earning full-time income entirely from writing gigs. But you still need your own website (mostly your own blog) because this will serve as a great advantage when acquiring writing jobs or gigs. You can start a FREE website – it’s very easy. You can actually set it up within 5 minutes.
- Monetize your blog through affiliate marketing. You can get my ultimate guide in building 6-figure affiliate marketing business so I can guide you all the way to your success. It’s completely FREE.
- When you reach this level you know you need to improve your skills constantly and this is where you become aware of the great potentials in the online industry.
Why Start an Online Business?
Maybe you have heard about this many times and it pops up over and over again in your screen – if you want to escape the rat race then you need to start building an online business. An online business doesn’t need a huge amount of money yet it has a huge potential of generating passive income.
Well, it really does require a real effort to make things work and no matter which type of business it is – there’s no exception.
The cool thing is – with an online business whatever you put on the internet stays on the internet. Which means, your business will grow over time and before you know it, you already are building an empire.