I’m not gonna lie, it’s been a loong time since I’ve written anything on here. One year, ten months, and twenty eight days to be exact (whoops..). But guess what! I never stopped earning money.
How much did I earn on my website?
$1,267.56 in about 23 months(eek!). Enough money to pay for a nice couple’s vacation if you so choose. But it is also money that took absolutely zero extra effort to receive.
So why am I telling you this?
In the interest of someone looking to make money online, this proves exactly what passive income is. And I want to talk a little on how you can reach a point where you are able to earn passive income online yourself.
So what is Passive Income?
Passive income is income you receive by putting in the work today and then being paid dividends for months and years after the work has been completed.
While $1,267.56 isn’t enough money to throw a resignation letter at your boss, It is a good chunk of cash that I earned over the last almost two years without putting in any extra effort at all. No new comments, no new articles, no new anything at all to this website except for the occasional plugin and theme update.
This is the power of passive income and also proof that the work you put in now truly can earn you money for months and years to come.
Depending on how evergreen your niche is in the online world, you could be earning income on a single article for years to come if you write high-quality content that ranks well and stays in the top positions in Google’s search results.
At the time of writing this article, I only have nine pages and thirty-two posts on this website. Now imagine if I had put in more work and monetized my website better. I would’ve made a lot more money.
I was distracted working on another website in a different niche that I had an interest for. I placed this one on the back burner, but I’m back now cause I want to show you what has worked for me to earn an income and how you can turn your interest into a full-time money making machine working from home.
Because, if you can make a single dollar online then you can make a hundred, a thousand, or even a million dollars by putting in the work. Just don’t be slacking like I have on this website.
What were my Revenue Streams?
I earned income from three different sources on my website. My three sources of revenue were:
Add everything together and I made a grand total of $1,267.56 since the last time I posted anything on this website. Half of the revenue coming in the last five months. One of the great things about earning money online is there is an unlimited amount of revenue streams you can create on your website.
When you work at a 9-5 job, you have exactly one revenue stream. If the company you work at goes out of business or lays off their employees, most people don’t have a back up stream of cash flow. Creating passive income online allows you to create multiple streams of income.
If one company you promote does go under, while you will be making less money, you’ll never actually stop earning. This provides you a little more of a cushion to get by while you figure out a new company to replace the one that just went out of business.
It’s very important; Don’t put all your eggs in one basket.
I was reading an income report the other day and the blogger detailing his blogging income had 59 income streams on a single website. He’s been blogging for years, but that just shows the opportunities you have.
How To Earn Passive Income Online
Like any reward in life, Earning passive income does take work. Anyone that tells you otherwise is fooling yourself. However, it’s less about the difficulty of work and more about the patience it takes to see results. As stated earlier, You put in the work before you achieve any results.
So what are the steps to earning passive income?
There are four simple steps you have to perform.
Choose an interest– Something you’re passionate about; basically any topic that you can talk about for months and months (sports, video games, fashion, music, my 2nd website is about ride sharing and the gig economy.)
Build a website– This takes no technical skills and can be done in 30 seconds.
Write quality content– Talk about your passion or interest. The problems, the solutions, tutorials, beginner tips, personal experiences, write about it all in your own words and personal perspective.
Monetize your website– Once you have the traffic, you have an audience that wants to know which products you use in your niche. Companies like Amazon, Nordstrom, the NFL, and Starbucks all have what’s called “affiliate programs” that you can join for free and then receive a commission for promoting their products. Products that you truly use every day and naturally recommend them to your friends already without getting paid.
Once you decided what you want to write about, built the website, wrote high-quality content, and monetized your website with banners, sponsored content, and affiliate links, you just have to wait and watch your earnings grow over the next few months and years.
Honestly, it can take a while for your income to become more passive. But, once you have established yourself and grown a good following, then you will only have to work a few hours a week if that’s all you feel like doing.
Just don’t expect your money to blast off overnight. Get Rich Schemes don’t work.
How to Get Started
When I first started online, I had not a clue about how websites were built or how they earned money for people. I didn’t even really understand what Pinterest was or what people did on Twitter.
I know, pretty sad life for being 21 and illiterate when it came to understanding what the World Wide Web, computers, and Social Media was. I did have a profile on MySpace before it died…
My first money I ever made online was from InboxDollars doing surveys, watching videos, and signing up for free offers that involve putting up a credit card (Not always free…). I got a check for $41.05 after a month of performing different tasks and my money probably averaged out to around a dollar an hour.
Obviously, not exciting money to be made that’s for sure.
Eventually, after doing some research I found a program called Wealthy Affiliate that taught me everything about making real money online. I was shown the four steps I explained to you earlier on how to earn a passive income on the internet.
It was free to try out and I didn’t have to provide a credit card. It was like a slap in the face when I realized how the process of making money online worked after joining this program. Everything started to click and make more sense for me and I haven’t looked back since.
If you are ready to learn how to earn a passive income online, then look no further than the program that got me started. You can Check out what Wealthy Affiliate is here.
Brandon is the founder of Lifeless Wallet. Created in 2015, Brandon built this website to save people money by exposing scams and to teach people how to make Real money online. On his free time, he enjoys sports, hiking, and traveling the world. If you have any questions, don't hesitate to contact us.