For years, all I ever dreamed of was to be my own boss and to make money online. Although, working online comes with a few pros and cons. The pros including working within your own schedule. This means I can sleep in or go out and brunch with the girls. Also, this meant, I can travel all over the world and work from wifi. What a dream! This type of lifestyle isn’t new especially during the age of the recent pandemic. It seems more and more people are working online. Although, there are days where we don’t want to work at all. This is why having different sources of passive income becomes important! Here are the ways I get paid online and so can you!
My Favorite Passive Income Sources
Dividend Income Investing
This is where “Blue Chip Companies”, a corporation with a national reputation for quality, reliability, and the ability to operate profitably in good and bad times, pay stock owners a small percentage for holding a stock. Relying on their fundamentally strong companies is a great place to start for conservative investors, like myself. Dividends get paid out to shareholders, quarterly, monthly, or whenever these companies give out their dividend dates. This does require a bit of money to get started. But don’t worry, investing in the stock market can be built over time. If you are brand new to investing and just want to find a simple place to start earning dividends, try out Acorn.
Start investing with Acorns today! Get $5 when you use my invite link: https://acorns.com/invite/YGLCM4
If you want to pick out your own individual stocks, check out Webull.
Webull is my preferred mobile brokerage that allows you to invest and trade in individual stocks. Here are my favorite companies to invest in that pay dividends to their shareholders. (note: I am not a professional financial adviser.)
Individual Stocks to Invest in for Dividend Income:
- Apple APPL
- Home Depot
- Johnson & Johnson
- Walt Disney DIS
Again, the downside is you’ll need a significant amount of money. To earn around $1000 a month, you’ll need about $240,000 (according to my research in 2021) in your brokerage portfolio. Now, there is no way I have this amount in my account today, but I am working towards it. Because who wouldn’t want to make an extra $1000 without doing anything?
Why Webull Over Robinhood?!
I prefer Webull over Robinhood, mainly because of the controversies of Robinhood. Although Robinhood is more user-friendly, you don’t want to deal with the limitations they set on trades. And with Webull, you can earn free stocks for every friend that you invite. They also have more options for coins available if you want to get into Cryptocurrencies.
Earning affiliate links is a huge way for a lot of online creators including Youtuber, Influencers, and Bloggers to create an additional source of income. Affiliate links are links that are referred by someone else. In return, the company gives the referer a percentage of any sales that are associated with the link. The easiest way to get started with affiliate links is to start an Amazon Associates page or to create a RewardStyle account if you are a Fashion or Lifestyle blogger/influencer.
Most people will choose to go with Amazon because they are where many people are shopping nowadays especially since most people have been in lockdown during the Pandemic.
You can find various Reward Style links throughout my blog if you want an example. They typically look like this:
Here is what an Amazon Associates Page looks like:
Ad Revenue through Google Adsense
Like any blog or website that shows ads, I do receive some income from advertisers that show their ads on my website and YouTube Channel. Today, the majority of Google Adsense revenue comes from my YouTube Channel since this blog is still very new. But I have faith that I will be able to grow both in the new few months! Most of the videos that I am receiving revenue from are from past videos that all add up at the end of the month, kind of like dividends! There is no cap on how much you can make through Adsense, it all depends on how many viewers or readers you receive plus watch time and audience retention if you create YouTube Videos.
The main reason I prefer ads over sponsored posts is that I don’t like selling to my audience. If I feel the pressure to promote a company or product, it feels almost disingenuous!
I hope these 3 different ways of earning money online have been helpful!