laptops sending money concept - wealth building planning services in farmington CT
  • By Emma Andrews
  • Posted January 20, 2021

How to Use the Internet to Create Streams of Passive Income

Having a solid source of passive income is a dream for many people. After all, who wouldn’t want to be making money by doing, well, nothing? As it turns out, the way passive income works is that you have to put in a lot of effort at the beginning, but once you’re set up the effort becomes minimal at most. Thanks to the internet, creating sources of passive income is possible for everyone.

Start a YouTube Channel

Do you have unique experiences, knowledge, or interests? If so, consider starting a YouTube channel. You can use a YouTube channel to generate passive income by monetizing it. This is most commonly done by taking advantage of the ads YouTube runs on videos. In order to monetize your channel, you’ll need to meet some minimum requirements. You need to have at least 1,000 subscribers, have generated at least 4,000 Watch Time hours in the last 12 months, maintain compliance with YouTube’s policies and guidelines, and have an AdSense account set up.

Build a Website

Building a website can also be a good way to generate some monthly income. Like a YouTube channel, you can set up an AdSense account and use it to generate income by selling ad space. Pay per click advertisements are a common way to go about this. You get paid every time someone clicks on one of these ads on your site. Given enough traffic and clicks, you can generate some serious income. There are multiple strategies that you can use to increase your site’s traffic. One of the best strategies is to create useful content around certain keywords that people search for. When you are successful with this, it will naturally bring more people to your site.

Become an Affiliate Marketer

Becoming an affiliate marketer allows you to earn income by partnering with a business and recommending your products. You include links to their products in your blog posts. When people click on those links and make a purchase, you get a cut of the sale. This source of income usually takes a lot of time and work to build up, but has the potential to really add up.

The internet may be the most valuable tool available for generating streams of passive income. 

Starting a YouTube channel, building a website, and becoming an affiliate marketer are all possible thanks to the internet. These sources of income do take time to set up and accrue enough of a following to generate any sort of worthwhile income, but once you get them going, you’ll be able to generate income without having to lift a finger.

Need some help with your financial planning? We have you covered!