Passive income is money that comes with little effort to keep it up in every month. It takes a bunch of up front work but then the money just roles with just a little maintenance in month after month. The great thing about creating passive income as a teen is that most ideas take time to make money before they begin. That’s all right, since you’re a teen and have more time without any expenses. You should already have money coming in month after month by the time you move out.
Although it was almost non-existent two decades ago, today gaming has become a popular and lucrative way to earn passive income. Successful teenage gamers such as Griffin Spikoski earned $200,000 at age 14 in 2013. You earn passive revenue from game tournaments or more passive ideas such as running a monetized blog, offering gaming courses, ads, donations, memberships, and more.
One of the most effective ways to make passive gaming income is by streaming your gaming skills live from sites such as YouTube and Twitch. This helps you easily build an audience and monetize your channel, rendering it a passive stream of income.
Gaming as a passive source of income requires passion and dedication, although it sounds easy and lucrative. You need to increase your audience, which requires you to create and post numerous videos playing games, long live streaming hours and the games you choose to play experience. Over time, gaming will turn into a lucrative source of passive income.
- Dividen stock
Dividend stocks are tried and tested to gain passive income. You’ll have to do a lot of research to find good investments and spend a substantial amount of money to get big dividend checks. Nonetheless, you can amass a good residual income over time if you invest money regularly in dividend stocks.
Make sure you open an account at the best online brokerage for any of these investment opportunities, and get bonuses while doing so.
- Youtube Channel
A YouTube channel is a great way to get passive income. Find your sweet spot on YouTube and start video-making. Overtime you’re having more and more people to subscribe to your channel. You’ve got to make good videos that stand out or have a niche style. And once you have that, you can consistently make money from advertising on your videos month after month. It’s like you owned your own TV channel. Learn from 17-year-old Matt who has created a YouTube channel with video games play. Currently, he is making hundreds of dollars a month.
- Writing Ebook
Writing and selling eBooks for Amazon’s Kindle Direct Publishing (KDP) is a great way for most teens to earn a passive income.
Brock Dan, a prosperous YouTube user who mainly focuses on affiliate marketing, once said he met a 16-year-old book author who earns over a thousand dollars a day from writing great eBooks in the mystery specialty.
Coming up with an eBook requires a ton of work, but if you create high-quality resource and do the marketing accurately, you can earn a cool and substantial amount of passive online income by publishing those books through the Amazon KDP system.
While you don’t start earning money from publishing right from the start, it can be a nice way to increase passive income over time by royalties from various publications.
For people who don’t like sitting or spending a lot of hours writing books on a daily basis, you can of course earn money by publishing some Kindle Direct Publishing journals and coming up with the paperback version of the journals.
Journals require far less time than writing books compared to the time spent writing and editing books, although the commission may be extremely low.
- Start a Blog
Take it from someone we talk about who is reaping the benefits — blogs are an incredible source of passive income. But with a blog, there is more to make bank than just posting good content.
You might want to take a moment and consider starting a blog if you’re looking for an extremely cheap yet highly scalable way to create a passive income for yourself.
Did you know: you can begin your first month’s blog for as little as a penny, and only a few dollars a month later?
Here’s the idea: If you can use your blog consistently and create a lot of value for a lot of people, you can generate an extraordinary amount of passive income. If you add more and more to your blog, the site will start bringing in people whether you’re putting in any extra time or not.
- Selling stock photos
Do you ever wonder where your favorite websites, blogs, and even magazines sometimes get their photos from? These are usually purchased through stock photo websites. If you enjoy photography, you can submit photographs to stock photo sites and receive a commission each time someone buys one.
DepositPhotos is one of the biggest marketplaces for selling stock photos. You can upload your photos whenever someone uses them, you earn money.
- Charging Scooter
Electric micro-mobility vehicles (such as scooters and bikes) have become popular transportation solutions in megacities around the world and charging them is an excellent way to earn passive income. Companies like Lime and Bird for example pay between $3 and $20 for every scooter you charge. Good part? It is a rather passive concept. All you need to do is pick a few scooters at night, charge them, return them and get paid.
In order to start earning income from charging scooters, you need to pick and sign up on a scooter charging service, ace the scooter training program and start charging scooters in your region. The amount of money that you earn depends, among other things, on the number of scooters you charge, your position and reputation with scooter owners. Say you’re getting $5 per scooter and charging 10 a night for it. Without doing much, you can make $50 per night, or $1,500 per month.
(Source: beginnerspassiveincome.com, passiveincomegigs.com, goodfinancialcents.com, thecollegeinvestor.com, and howtomakemoneyasakid.com)