Dividend stocks – My number one way of making passive income, and a great way for a newbie investor to get started. Here are a few of my favorite dividend stocks; High Dividend Low Volatility Shares (SPHD), FORD(F), Bank of America(BAC), and Pembina(PBA). You can use your preferred stock broker or start using Robinhood, a commission free stock trading app, to purchase your first share of stock and let the passive income start flowing. This month alone I received $3.08 and next month I will be receiving $5 from dividends. Comparing this to an average savings account with a national average interest rate of 0.09%, from which my monthly interest rate would be <$0.18. My monthly passive income from dividends is 17X more than if my portfolio was sitting in a savings account!
Start a blog – Find your passion and turn it into a blog. I started this blog because of my love for investing. Starting this blog was an investment in itself, and I am hoping that sharing my investment experiences helps others who are interested in the stock market. My inspiration to create this blog came from my brother and his wife, the authors of the blog, “The Savvy Couple”. After about three years of dedicating himself to his blog, both him and his wife were able to quit their full time jobs and become bloggers. I have been using WordPress for three years now, and it is my favorite blogging platform because it is really easy to use, and there are hundreds of built in themes to turn your content into a beautiful responsive webpage. To get started using WordPress today use my link and type in code (wphappyaug19) at checkout for 17% off all plans (valid through August 2019).
Create a Podcast – Create a Podcast about something that interests you. Anchor.fm is a great website that lets you create a podcast right from your smart phone or computer. I started up my first podcast a few weeks ago and plan to start another podcast soon! Here is a quick look at my podcast: The Fantasy Bros Podcast. This Podcast was incredibly easy to make because of Anchor’s built in podcast editing software. I only have two episodes out and already made a couple bucks!
Start streaming on Twitch – If you love playing video games streaming on twitch can be an incredibly fun way to make some extra cash. Streamers are paid through subscriptions and donations from their viewers. I’ve been streaming for over a year now and finally was able to receive a 250$ payout. Keep in mind this was all just from playing my favorite video games while entertaining my viewers. Here are some Pro Streamer Setups to help you get started!
Online surveys – Doing online surveys from home can generate some decent passive income. There are dozens of survey websites that pay you real money for completing simple surveys. Here are the top three paying surveys sites.
- Swagbucks – Unlike other survey sites swagbucks offers a search bar function that pays just for searching things you normally would search on google. Instead use swag bucks built in search bar to periodically earn passive income. You can also earn swagbucks by filling out simple surveys, or even playing flash games on their website.
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