Best Form of Passive Income: How to Make $7,200 A Month – 2 Proven Ways
Do you want to learn best form of passive income? Do you want to learn how to make $7,200 passively each month? If you answer yes, than you came to the right place.
Today I’m going to break down some best form of passive income sources. I’ve been generating over 7k each month using these methods over the past few months. Hopefully this post will help some people out how.
I wish I saw a video like this last year or two years ago because then I would have a better understanding of how possible it is to actually earn passive income.
I try to avoid using the word like “best form of passive income”. Because I think it’s kind of a buzzword, kind of a catch word that a lot of people use without fully understanding what it actually is.
I feel as though there’s kind of this misconception that people view passive income as just like money falling from the sky or just growing on trees. But realistically being pragmatic, that’s not how passive income really works.
When it comes to best form of passive income, I think there is definitely that disconnect with people. When they think about best form of passive income, it’s not just money falling from the sky. It’s not just totally free money. You’re doing something upfront to then reap the rewards of that work or that investment later down the road.
So, that’s what I want to kind of clear up in this post and I’m going to show you some of the best form of passive income that I’ve been generating. These are primarily passive income sources, we’re not talking about anything that you might be doing actively.
I want to break this down for you if you’re new here to the blog. Make sure to share this post with friends and family if you find it useful. Make sure to read more posts for ideas and tricks to help people make money, save money, and just kind of build financial freedom.
Something You DON’T Learn in the SCHOOL
I want my readers to create financial freedom for themselves because I think that’s something that schools don’t really touch on very often.
Actually, almost never especially in high school I don’t think I have learned anything about personal finance. I don’t know why they forced math and English and science on you without even touching personal finance.
Personal finance is kind of the root of a lot of people’s issues throughout life. Financial stress can really cause a lot of issues so hopefully this post along with my other blog posts can help you out a little bit.
This post is really just to show you what’s possible out there, to show best form of passive income out there so you can achieve financial freedom.
I think this list is helpful for people, and out there who find this to be helpful good luck and stick along. Hopefully this can help you out a little. Lets begin with our best form of passive income sources.
1. YOUTUBE CHANNEL
First really source of passive income that I’ve been generating actually turns out to be a YouTube ad revenue. I didn’t really set out to have primary source of revenue from YouTube ad revenue.
My kind of philosophy behind YouTube is to try to provide value and not really follow the money so much. That’s the way that I’m going because if I was trying to squeeze money out of people, I think I would probably be selling thousand dollar online courses or being sponsored.
Currently, I make around $5000 to $6000 per month in total. It fluctuates slightly but it’s pretty steady for the most part. Now with this, it’s primarily passive.
Old is Gold
The reason why I say that is because about 80% of the revenue each month is earned by old videos. Even when you are not making videos, you are still making few hundred dollars per month from your old videos.
Only about 5% from actual 2019 videos that I made currently makes money. But I am not worried, it will pick up over time. You really need to be patient with this, and have to be consistent.
In this particular month, a lot of it is fairly passive but the whole idea behind this passive income is you’re putting time up front. The misconception we talked earlier about best form of passive income and just the idea of passive income itself, it can be cleared off.
More on Misconception…..
This misconception, this disconnect where they think it’s free money is inaccurate. It’s because you are realistically putting lot of time up front, which is what I did with some of these YouTube videos.
You’re putting money up front sometimes. There’s a third option as well but you’re either putting time or money up front so then reap the rewards of that work or that money input later on down the road.
For YouTube, you really have to have an input to then get an output later in the future. Unless your grandma’s giving you checks every month in the mail or something, other than that you’re gonna have to put something up front to get a reward later.
Basically this is what I did with my YouTube channel and it does feel fairly passive. In fact, this is my best form of passive income. But the thing is look because I didn’t really put much work into it in January. I was traveling I made like two or three videos maybe four. I’m probably going to see the negative effects of that in February and in March and in April and throughout 2019 for not putting an effort into it in January.
To wrap up, your action and work now determines your future passive income. This is one of the best form of passive income sources out there, with this if done probably 5k is easily attainable.
Something you have to keep in mind is that YouTube is not 100% passive income. It’s not like a real estate investment that maybe you get into and then hire somebody to manage the property. Then 10, 20 years later, it’s very much passive income in a lot of cases if you hire property manager.
YouTube definitely has a lifetime value and it sort of fizzles out over time so you want to keep that in mind. But look not everybody wants to make youtube videos. I didn’t really want to make youtube videos either. So, if you don’t want to do that there’s some other sources of passive income that anybody can do as long as you have couple dollars in your name or some spare time.
I’m going to show you in this post but these are based on my personal experiences. This is just what I personally do and like I said hopefully this can just help somebody out reading this post.
2. AMAZON ASSOCIATES
The next source of revenue comes from Amazon Associates. Now what’s interesting about this is that about 75% of revenue here actually comes from old YouTube videos referral. I say about 25% of $2200 here comes from this new affiliate channel.
Amazon affiliates is another best form of passive income.
If you’re not familiar with it, we’re not gonna go too in depth. Because I think a lot of people do know how affiliate marketing works. But if you don’t, than make sure to read more on affiliate marketing.
If people click on a link, your referral link that they can use to go to amazon website, you will have chance of making money. Let’s say If you buy something through that link I get a few percent commission. Like it’s a very low commission but it’s kind of strength in numbers, especially if you’re reviewing products. Once you get enough conversion, this will become your best form of passive income.
Today, product review channels can be really popular and can generate a lot of cash. Because if you get 10,000 views on a product review video and you’re really persuasive about a certain product, then you can make thousands of dollars from just 10,000 views. I’m being serious with that because I’ve done that with a couple videos.
In the past, I have made review about a certain product and then tons of people will convert on that link. For example, a wifi router review video I made on one of my other channels got few thousand views. The conversion rate on that was really high because people watch product reviews and then end up buying something.
So that’s just something that brings in almost $2200 a month that covers the majority of my rent and utilities. It is pretty nice to have. So that is one of the best form of passive income sources.
Overall, I hope you enjoyed reading this. It might look like two best form of passive income sources, but it is just one big process if you do it right. All you need to do is make valuable, quality, user-need based videos.
You can you these videos to promote your amazon affiliate products. In fact, you can take this notch further and join other affiliate sites with higher commission rate.
There is lot of money to be made in online world, YouTube and Amazon Associate Affiliate are the two of the hottest right now. Make sure to share this best form of passive income with friends and family so they can learn how to achieve financial free.
I can tell you that with best form of passive income sources, it is possible to generate decent money. You have to put energy into it early on to harvest it in the future.
The biggest tip I would say is work smarter and not harder. I think if you put your head down and grind and be smart about your approach, then success is 100% guaranteed.
Thank you for reading my post. If you like this post, make sure to read my other post on how to leave behind over 11 million dollars to your children.