The main problem of the youth is struggling all day and night to earn money, and they want more time to enjoy their life. At the same time, they also want to earn more money. Now the question is, how is it possible to make money while enjoying the whole day? I am here to answer this question and tell you about “7 Best Passive Income Ideas in India for 2024”.
Passive income is the income that is earned without having active participation in the work all the time. You can make money through passive income sources even if you are sleeping, eating, etc. People can work at any time whenever they feel comfortable. It gives a joyful life to the people as they have enough time and money to enjoy.
An active income earner must work actively and regularly to generate income; for example, a construction worker would get paid if he goes to work daily. So here, In this article, you will learn the most comfortable and best passive income ideas in India for 2024.
List of 7 Best Passive Income Ideas in India
1. Develop a website
It is one of the best sources of getting passive income. You might wonder how you can design a website without any technical knowledge. Yes, you can create a website with the help of some other websites like Wix, WordPress, GoDaddy, etc.
Once you design a website, you can sell it to bloggers, hire bloggers to write articles or write by yourself for your website. It is such a simple task. You can earn money just by writing articles while enjoying your life to the fullest.
2. By making an Investment
Investing money in the stock market, cryptocurrency, mutual funds, dividend stocks, IPO, etc., is an excellent source of passive income. With experience and analysis, you can make your Investment in the right direction. It is just a game of the mind, and you can gain a profit of thousands without doing any work.
Stock markets and mutual funds are two different but similar passive income sources. In the stock market, you need to do research and analysis by yourself, while in mutual funds, it will be done by the asset management companies. So if you do not know the stock market, you can invest in mutual funds.
Investment in IPO, issued by companies before listing in the share market, is also a good source of passive income. Through IPO, companies brought capital to grow. Knowing the company and its products can earn 2-3 times more profit than the issue price.
3. Online Photo Selling
If you are looking for the easiest way to get a passive income that doesn’t even need any mind work or research, then you can choose the profession of photo selling. Online Photo Selling ` is so easy. Just by clicking perfect pictures, you can sell them and make money.
There are many websites like Shutterstock, Flickr, Adobe stock, Alamy, Crestock, etc., on which you can sell your photos. Earlier mentioned websites are some of the best photo-selling platforms. You can also sell your photos on your website for the best profit.
You can earn thousands of rupees for just one picture sold by you. Yes, because you will get paid every time your photo is downloaded by the customer worldwide by Shutterstock.
4. YouTube
YouTube will be the perfect passive income idea if you are a social media lover. You can get paid for the work you are doing for fun. Yes, you can make videos and upload them on YouTube after making a channel of yours. You will get paid after getting a certain number of views and subscribers on your videos and channel, respectively.
There are so many YouTubers nowadays who made vlogging their fundamental source of income. You can create videos anytime and about anything, even about your daily routine also, and can post them. It would help if you made these videos attractive so that more people see them and can earn more money from a single video per week.
5. Selling educational courses
COVID-19 hit the education sector severely. Due to the lockdown, all the schools, colleges, and coaching centres and online classes and online educational courses content became the source of education. It can be a great source of passive income if you sell academic courses online.
You need to make videos or write articles about a particular subject once; then, you can sell it through Byju’s, google ads, or Udemy. It is a one-time process to make videos or articles and sell them; you can earn for years. More the people buy your course, more the money you make.
6. Airbnb
Suppose you have a spare room, apartment, or house that you want to give on rent. Airbnb is an online market where people can connect from worldwide and provide an opportunity to search lists, and book rooms or houses for a short period.
Airbnb is an excellent source of passive income, and you need to do nothing to list your space on Airbnb. People opt to search on Airbnb rather than searching it directly; it is best for tourists or those who are not natives of that place. You can earn lakhs of money if your area is in the perfect location.
7. Rent your car
Do you have no use of your car regularly? If you have a car and you barely use it, you can give the car on rent to the companies monthly, or you can attach your car to the Ola/Uber cabs. It is like renting your house; you can earn a monthly income through this.
This is how you can get a passive income through your idle-sitting car. You can enjoy it on weekends and at the same time you can earn money by renting your car for the rest of the days. As on weekends, it is off for the company; you are free to use your vehicle.
Conclusion: After our research, we have presented you with the 7 best passive income ideas in India to give support to your wallet. All the ideas mentioned earlier can work along with your actual work.
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