In an increasingly technology dependent world, more and more people are looking to the internet to buy goods and services. A way to show students how to make money is passive income in the online space. The term passive income refers to money that can be earned from little to minimal effort after created. Once the product is created, it continues to earn money for the creator without requiring much attention. While it takes time, persistence, and talent to create viable passive income streams, students can be taught how to use their skills to earn money online.
There are many ways that students can begin earning passive income online right now. One of the most popular strategies it to create content on video streaming platforms such as YouTube and allowing the channel to be monetized. Once the videos are uploaded, the content creator can receive payments for allowing adds to be run on their videos. Students who enjoy writing can create digital books or stories that can be sold on platforms like Amazon. Again, once the content is posted, the writer receives a payment every time someone purchases one of their books. This is a way for aspiring authors to build an online fanbase, while dipping their toes into the passive income pool. Creative students can use websites such as Esty to sell digital coloring pages, digital stickers, or digital sewing and crochet patterns. The possibilities are endless. If the product can be viewed or downloaded, it can be turned into a source of passive income.
While students should still be encouraged to focus on their long-term career goals, getting into the passive income game early allows them to diversify their income streams and build wealth while they are still in school. Encouraging students to explore and build passive income streams prepares them to succeed in a technology reliant world.