Knowing how to make passive income online as a teenager is a commendable move that will set you on a path of monetary independence in adulthood. Fortunately, the digital sphere has provided an opportunity for everyone to earn passively including teens and children.
According to Forbes, the highest-paid Youtuber for 2019 is Ryan Kaji, an eight-year-old child who reviews toys on his YouTube channel. Hence, age is no longer an excuse to be financially incapacitated, with passive streams of income, you can earn without having to actively work. Therefore, your school work and other activities are in no way affected.
What are passive streams of income?
You can perceive your streams of passive income as a form of “Side Hustle.” This is an income you generate without having to work actively or for long hours. However, note that some passive income does require work at the earliest stage.
Nevertheless, while you are out there doing stuff like hanging out with friends, riding a bike, or reading for a test in the library there is an inflow of cash to your account.
Knowing how to make a passive income online is highly favorable, because you earn without having to trade your time in the process.
There are tons of passive income ideas for 2020, and this piece will enlighten you on some of the best passive income ideas for beginners.
Passive Income Ideas for 2020
This is a mode of business in which you run an online retail store without having your products in stock. You simply purchase from a third party (usually a wholesaler or manufacturer) and have the product shipped directly to the customer. This way you don’t have to deal with the responsibility of preserving or storing products.
Dropshipping is actually a very productive passive income idea this 2020, and it is suitable for teenagers. This business is run online using software such as Shopify.
Thanks to dropshipping, as a teenager you can engage in e-commerce and sell trending products to clients worldwide. Dropshipping is a lucrative way to make a passive income online this 2020, because shopping online is preferable due to the pandemic.
2. Social Media
As a teenager, your social media account can serve more profiting purposes than just posting pictures, connecting with friends, and keeping up with trends and your favorite celebrities. Social media is a lucrative way to make passive income online.
In fact, on YouTube, young people are winning. The first and third highest-earning YouTubers in 2019 were not adults but children.
Social Media Applications such as Facebook, Instagram, Twitter, YouTube, etc can be used to make passive income online.
For instance, on Instagram, you can create a page or even pages for almost anything you are passionate about. Frankly, if you are consistent and create engaging and interesting content you will earn followers and grow a strong audience. This can attract brands into paying you for sponsored ads on your page.
Also, if you create good content that attracts engagement and a large number of followers or subscribers, you can become a Social Media Influencer. Influencing on social media is a great passive income idea, hence, the rapid growth of the number of persons into Social Media influencing. In fact, while writing their bio, some individuals do add “Influencing.”
One enormous advantage of earning via social media is that you don’t have to spend all day on the platform to earn. A sponsored post made in less than 30 minutes can give you more money than working in a cafe for a month.
Earning via Social Media is a great passive income idea for 2020 and beyond.
Creating and running a blog is another way to make passive income online as a teenager. Simply choose a niche you can relate to and create viable content. Owning an online page like a blog is very lucrative when monetized.
There are tons of ways and opportunities to create multiple sources of passive income through your blog.
Though at the initial stage serious work is required to promote a blog until it is well known. Nevertheless, after that is achieved, even without putting in much work you can continue to earn from your blog. This is a great passive income idea for beginners.
4. App Invention
If you are tech-savvy as a teenager creating an App is a good idea to earn passively. When you create an App people can purchase it.
Nevertheless, making your app free can also serve as a good business strategy as well, because people are more inclined to download free Apps as opposed to purchasing them. So if your App is free more persons will use it and you can make money from ads.
As the digital world evolved, so did gaming. Today, If you are passionate about games as a teenager, gaming can become a passive source of income for you.
Griffin Spikiski is a perfect example of a teenager that has earned through gaming. You can showcase your gaming abilities on platforms such as YouTube and grow a audience of subscribers. This can also help you monetize your YouTube channel and make a passive income online.
As regards gaming, creating and running a blog centered on gaming can be monetized and become another source of passive income.
Thanks to the fact the world has gone digital there are tons of ways a teenager can earn and still have ample time for other activities.
These passive income ideas for 2020 are how to make a passive income online. They are achievable passive income ideas for beginners.
To further understand, and learn of more ways to make a passive income online as a teenager, do well to download and read “The Ultimate Passive Income Guide.”
“The Ultimate Passive Income Guide” is a masterpiece written to help people earn massively with a passive approach.