7 Best Passive Income Ideas For College Students In 2020

7 Best Passive Income Ideas For College Students In 2020
7 Best Passive Income Ideas For College Students In 2020

 In this article, we will discuss some Passive Income ideas for college students by which you can earn online, whether it is your primary or additional income. We will discuss passive income strategies and some online business ideas. It will grow in the year 2020 because people are moving towards the digital platform.

 In today's world, everyone wants to earn to fulfill their needs we got a lot of feedback like students who have no income source to want to earn side income that they want to earn at home or need business ideas some people asked for passive income ideas for college students as well.

 Making money while you SLEEP? Sounds a little bit scammy, right? 

7 Best Passive Income Ideas For College Students In 2020

 If you really want to earn while you sleep, you can check these options and try one of these but even if you don't want to we appreciate your hard work as a homemaker and the way you manage the home. Even if you don't earn you must have financial knowledge and handle finance at your home.

1. Sell Digital Products

 You can create any digital products like Photoshop Templates, Video and After Effects Templates, You can click photos, do music production, create music/sound effects, sound files, etc. So you have to make these digital products one time and they automatically get sold off during a particular period of time.

 So by these skills, you can develop a good passive income So why will this grow in 2020? It has grown this year 2020 because people are moving towards the digital platform and they are accepting that it is valid to spend on digital products. 

 So people are spending more and more on digital purchases. Previously people were very skeptical about digital purchases for spending $10 or $20  digital tool and whether spending on it was worth it.

 So people use to question a lot before. But now people have started understanding the importance of Themes, tools, after-effects, and projects.

2. Buy Digital Assets

 The websites, apps, tools, blogs can be purchased which are already having earnings on it. For example, there is a blog which is having passive earnings of $500, you can purchase it around $8k-10k. So once you invest in it, it becomes a recurring automatic source for passive income. It will automatically generate $500 per month.

 So if you are having money for investment then you can go on this route. Or if you have more knowledge which you can use it to improve and flip it.

 For example,  if we talk about real estate there you will have to take rent of $100-200, for which you will have to buy a real estate worth $40-50 k. So here it will happen a maximum of $10-15 k yearly. And after some year you can sell that real estate by increasing its price. 

 In the same way, improve the website on the basis of your knowledge and skill and then you can flip it by increasing its price.

 So that's why we preferred this over a real estate. So there are some cons, but real estate has some pros that it is an asset, which is in front of you, which is not dynamic and its value appreciates. There are many factors, but if you have knowledge and skill If you have money to invest then this is a good option.

3. Create Online Courses

 If you have skill, knowledge, and experience, you can create and sell courses. This has been happening in previous years But this is still a trend nowadays People like to purchase online courses. You get an expert online, which you can't find in your locality.

 Thanks to the cheap internet, through which people are coming online. There is an increased demand for local language courses. Because people are getting internet access worldwide and since people have used the internet, and there has been a lot of entertainment. 

 So now people want to learn, so when they are interested, they need online courses. If you have the experience, you can definitely try online courses

4. Develop Online Tools

 If you are a developer, you can develop online tools, and you create a subscription model to earn passive incomes. For example, by using social media EPI, you can create an online tool, by which anyone can schedule online posts, Instagram posts, Posts on TikTok, Facebook, and all the social media platforms.

 So with this type of tool, you have to create one image and you have to publish it in a scheduled time and it will post automatically in all platforms. For using this tool, you charge to pay monthly or yearly.

 Like this, you can create online tools, SEO Tools, Chrome extensions, and work on SAAS websites. So you can work like this in service websites, as there are many options and tools available

5. Content creation 

 So think what knowledge can you impart or how can you entertain. Which talent can you showcase once you decide on talent then choose the right platform to support it? Depending on the medium in which you want to publish the content you can choose a social media platform.

 Like if you are a singer and don't like making videos then podcast/ Spotify will be a better platform for you. It is an audio platform.

 For photos, you can choose Instagram, Facebook, and TikTok, these are other options to publish your content and earn money. If you don't know Kylie Jenner is the youngest billionaire who earned a fortune through Instagram though her family popularity helped but still anyone can earn through Instagram. 

 Some of you maybe don't prefer any social media then you can create your own blog with a content form of your choice like video, text, etc. If your content is really good and unique then you may even publish books in hard or soft copy. These methods will help you earn from home without any work timings. You will be your own boss.

But how will you earn?

 The first way is direct sales revenue in case of ebook or hardcover books. And in the case of social media and blog, one source is ad revenue businesses pay to channels to advertise in certain content. These sites keep apart and pay rest to the creator.

 Another way is sponsorship or brand deals Creators with the huge following can get deals where brands ask for a post or content by creator and the creator gets paid on it.

6. Join Amazon Affiliate Programme

 As you probably know, Amazon when you go into the different subcategories. Amazon literally shows you which are Amazon best sellers start giving you ideas on what's already proven to sell well. So that you can create the content on that topic. That has that proven demand that people are hungry to pay for that information.

 Affiliate marketing is basically the process of promoting somebody else's product so that you can get paid commissions in return. So, let's say you're into travel. You could literally type in a travel affiliate program and you will see all the different platforms. Platforms that chances are you're already using right now. 

 I go to TripAdvisor, Booking.com, all these sites, guess what? They all have an affiliate program where they will pay you commissions whenever you refer somebody to their site.

 Understand that every single niche, whether it's finance, whether it's property, there are services out there, physical products as well as digital products where these vendors are willing to pay you commissions every time you refer a sale.

What is a good strategy for affiliate marketing?

 The strategy about good affiliate marketing is all about persuading someone who already is a yes and putting that product in front of them. Many times people think that affiliate marketing is persuading somebody from a no to a yes. No, that's really tough. It's about thinking who are the different people if I serve a bodybuilding niche. 

 I wanna think about what's going to be an easy sell or an audience of bodybuilders if that is my, well clearly that's not my market, but if it was, that would be what I'm thinking about, right? What would bodybuilders be already buying?

 Probably protein powder. And how can I create that bridge information so that I can place that affiliate link in front of them? 

 So, that's step number three if you wanna start creating a passive income stream. Affiliate marketing has literally helped many to generate over seven figures, but just by promoting other people's products. Think about how you can incorporate that into your business model.

7. SEO or search engine optimization

 This is a method where you can start for free. This basically means taking advantage of all the search traffic that people are doing on both Google and YouTube. Because YouTube is owned by Google and it is the second-largest search engine in the world.

 So if you rank something a YouTube video on YouTube it will more than likely be ranked on the first page of Google, which is like icing on the cake. And so the greater point with all this is that literally you have an audience always looking for something and searching for something online at your fingertips. 

 So it's up to you to figure out what type of content you want to post. And what types of things you want to promote online so that you could take advantage of that passive income traffic around the clock.

 So you would basically set up your online real estate in the form of a blog or a youtube channel. And you would create content about something that you enjoy or something that you have an expertise in. Then capture that traffic by leading them to an offer.  

 And it's so crazy to think about how big and how much traffic is on Google and YouTube and there's definitely no such thing as too much competition.

So these are the online passive income ideas for college students which we can implement to earn a passive income.

 Some of them are going to require money and some are going to require your time. So, either way when it comes to making the passive income you either need to have the capital or the money or your time in order to buildup that passive income stream so that you could be making money even while you are asleep. 

 Now let's face it, as cheesy as it sounds making money when you are asleep is, I know, a little bit cliche. It sounds a little bit cringey at times, but the truth is Warren Buffett actually says this. He says that if you spend your entire life working for money and if you do not have money working for you, you will have your entire life constantly working.

 So, notice that all these different methods that I have mentioned in the past only require two things. Yes, it's passive, but it does require either money or your time if you're just starting out and you don't have the money. 

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