No matter how much money you are making now, there is always an opportunity to earn a little more. The Internet is full of all kinds of great residual income opportunities which can really boost your yearly income and give you the money you need to make a difference in your life.
All that you need is a little ambition and to know where to look for these opportunities. With that said, let’s explore a few of the most current and popular residual income ideas for increasing your income.
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Online Income Ideas For You
Whether or not you can use each of these residual income opportunities will depend on your skill set, available time and other factors. Read on to see which ideas might be best for you.
And, keep an open mind. You might want to consider ideas you’ve never thought of before, too. Luckily, there are many resources for you to learn new ways to earn residual income.
Here are some ideas and resources.
1. Freelance Write for Blogs and Websites
There are plenty of websites and blogs that are looking for people who can produce great content for them. If you have a gift for writing, you might want to try your hand at writing for websites.
Why do these websites need more content? Because the more articles a website has, the more likely they are to rank for more keywords. Higher rankings mean more visitors, which in turn can lead to having more readers buy their products and services!
If you love to write, consider making a list of subjects you know a lot about. Then, start looking for work. You can approach managers of blogs you read often, or advertise your services on a site like Fiverr.
Be prepared as you start your writing career to accept smaller fees or even work for free. But as you start to gain experience and become more in demand, you can work your way to the higher-paying jobs.
When I started freelance writing, I made about five cents per word. Today I make several times more than that. If you’re a good writer, the money will come.
Your goal in the beginning, is to get your name out there and your work published.
2. Publish Ebooks
Another idea for making some residual income is to publish some ebooks. Now, you’ll need to have some information worth reading in order to make a go of this.
eBooks are a great way to earn some regular residual income that is also passive income.
This is because you only write the content once, publish it, and then make it available to an unlimited number of customers on Amazon, iTunes, and dozens of other platforms for the rest of eternity!
I’ve seen a number of bloggers who claim to make five and six figure incomes just from selling eBooks on a regular money basis at $0.99 to $2.99 each.
Even though that’s a lot of downloads, I think it speaks volumes to how valuable the information they’re selling must be!
With resources like Microsoft Word or Google Documents, writing an eBook is not as difficult as it sounds. You could start writing your manuscript now and have it professionally edited and formatted for Kindle in no time.
Also keep in mind that you do not have to write several hundred pages to have your material published. At the lower prices it has become very acceptable to have books with as low as 25, 50, or even 100 pages.
Blogging is a very powerful income earning opportunity because, similar to the other things we’ve listed, you only have to write your content once in order for people to find it for years to come.
And when that happens, you can earn a revenue from people clicking on the ads or buying products you’re promoting.
In order to become a blogger you do not need to invest much money to get started. I’ve started websites for as little as $24 and then spent only a handful of money writing the first 10 or so articles.
Once you start to see some earnings, you can then re-invest it back into the website hiring freelance writers to help boost the number of articles.
Plus if you’re looking for a great resource on all things blogging, we’ve got an awesome +7,500 “how to blog” tutorial available for you to check out.
4. Affiliate Marketing
To further add on to the idea of blogging, you could also build a healthy stream of income by getting good at affiliate marketing as well.
This is the type of advertisement that pays you each time someone makes a purchase from the website’s ads.
They do not pay each time that someone clicks; only when someone makes a purchase. But the trade-off is that the amount of money that you get can be a lot higher than a pay-per-click advertisement option.
It all depends on the product you are placing on the advertisement. The higher priced items will sometimes pay you hundreds of dollars when someone decides to purchase them through your website.
Check out places like Clickbank to find products and services you can easily promote as an affiliate advertiser.
5. Sell Supplies, Crafts or Directions
Another great way to receive residual income is by looking for opportunities to sell supplies, crafts or directions.
The way that works is that you create an item to sell, then sell it on a site such as Etsy or eBay. If you’re good at making a particular type of craft, you can make it and sell it.
Ideas include downloadable or custom art, custom jewelry, baby supplies, etc. Or, you could buy supplies at wholesale and sell them at retail prices for people who make crafts.
For instance, you could sell jewelry making supplies, yarn, scrapbooking supplies, etc.
This post on how to start an Etsy shop is a great tutorial for you to learn more.
Another option would be to sell directions for something on eBay. For instance, I just paid $10 to get a set of directions and a supply list for building a hay shed for my farm.
I’ll save money by building it myself, and building it DIY-style will be much easier with directions and a supply list. And the creator of the plans will get a commission off of my purchase.
If you know how to build something, you can create plans to sell online. The plans might be for a shed or other home and garden product.
Or you could sell plans and a supply list (and even the supplies) for a kid or adult craft project.
You would get a commission when that customer makes a purchase. That is a one-time pay, but if the customer wants to restock or share your listing with others, you can earn more.
The more advertising you do, the more customers you can reach.
6. Retail Arbitrage
Retail arbitrage is when you buy something at a low price and then sell it at a higher price. So, you purchase items from places like:
- A wholesaler company
- Garage and estate sales
- Online sites like Craigslist
And then you turn around and resell them at a higher price. The goal is to find items to resell that are both a great deal price wise, and a popular item that people like to buy.
You can resell them on sites like eBay, or you can open a personal Amazon store and sell on Amazon.
My stepdad does this with golf clubs and makes a tidy little income each year.
7. Stock Photography
Another way to make some online income is to sell your personally taken stock photos. Sites such as iStockphoto sell stock photos to businesses and bloggers who need them for their sites.
Each time someone purchases the rights to use a photo, the photographer gets a small commission. The better your photos are, the higher chance people will buy them.
Note that the most popular types of stock photos are those that depict people in natural settings, such as:
- Playing outside
- At a doctor’s office or other popular place
- Eating dinner with friends or family
- Reading to kids
- Hanging out with friends or family at a popular destination
Each stock photography website has parameters their photos need to fit. Read a site’s photo guidelines and submit your photos for approval.
Once you’re approved, you can start earning cash.
More Great Residual Income Opportunities:
These aren’t the only things you can do online to earn more cash. We’ve got a huge idea list of more residual income opportunities you could try over the Internet to start earning more cash today.
And feel free to try more than one! As we’ve mentioned before, having multiple streams of income is a powerful tool in reaching your financial goals. Check them out today!
Who knows: you could find the perfect residual income opportunities to earn enough cash to replace your job’s income.
Image courtesy of FreeDigitalPhotos.net