7 Passive Income Ideas - How I Earn $700 A Day!

okay perfect hey guys so today i'm sharing with you my seven sources of passive income but first let me take you back and tell you how i got here so i was jobless in the first half of 2019 i was working roughly 12 hours per day six days a week sleeping maybe four of those days counting up to roughly 288 hours per month of work and averaging that out i was earning three dollars and 47 cents per hour and with that money i had to pay for my food my rent and that's all i could afford i can tell you i don't have money but what i do have are a very particular set of skills survival that was the skill hopefully you guys find this video very helpful i'm going to give you an inside look into my finances my growth on youtube where you guys can see i just started this january i don't know if i've made it i'll let you be the judge of that but none of these sources of passive income would be here if i didn't conquer my fears one day and one fear at a time let's begin [Music] say something something so how are you enjoying hawaii i love it i'm freaking out every day you're interviewing me so i'm looking at you this feels like cast sorry about that i don't know what that was but let's just begin with my favorite source of passive income and that is dividend growth investing now if you guys don't know what that is it's basically i get paid for owning certain types of companies that are called blue chip stocks these are companies that include walmart disney coca-cola apple you name it really mature companies that are generating so much cash that they're like guys we don't know what to do with all this money thank you investors here you go and they just pay me back for just owning now i don't have to sell any of these stocks i just collect them on a monthly quarterly or whatever it is now again it's my favorite way of investing but the downside is that you actually need quite a lot of money to make any significant source of income which is great for me because it encourages me to save as much of my money and then invest it rather than spending it on things i don't need so that's why i love it but for the month of october i actually got paid 437. 94 from 21 of the 100 companies that i own and again some of them pay me monthly some of them pay quarterly and if you do want to start this kind of investing don't chase the dividend yield as it's called don't chase the monthly factor it's like saying would you rather get paid 100 once per year or split two times or 12 times whatever it is it doesn't matter because the total amount will still be the same no matter how many different ways it gets split up because sometimes people ask me like andre tell me some monthly dividend paying stocks but it's not actually going to pay you more it's just going to pay you put out different ways hope that makes sense and i'm tracking all of these 100 stocks through my google spreadsheets otherwise there is no way that i'm going to be able to keep track of it it tells me all of my schedules all of my dividends and everything i need to know and i'm getting the same stock market data provider as the ones that robinhood and all these other major brokerages are using as well so for example i know that out of that 437 dollars i know that 20 of it is coming from the real estate sector and another 15. 8 percent is coming from the consumer staples industry and if you guys are not familiar with what that is that's an industry where it's always going to have similar and or growing demand based upon the population so people are always going to need to buy food water shampoo cigarettes toilet paper which is always embarrassing to buy and check out i can't be the only one so consumer staples is that sort of stuff and if you guys want to use the same google spreadsheets that i'm using you can find mine on my patreon but it is behind a paywall i apologize otherwise i would just go broke paying for it by myself the number two source of passive income that i really enjoy is royalties now this one is pretty rare most people don't have this as a source of passive income but anyone can have it if you're not familiar with what royalties are royalties are something that i get paid as an artist from a percent of a gross sales on a product that another company has produced for me which sounds really really complicated but it's really simple it's how your favorite music artists get paid when they pitch a song to a record label company they'll come along they'll produce this song and put it up on itunes or wherever it is spotify and then they'll pay the artist a certain percent of the sales of this song now for most people including myself i'm not a singer or a songwriter so my royalties are coming from course sales which are going to be the truth for most people now for me i actually taught people how to do cardistry which is this crazy art form of how to shuffle cards and i've been having this source of passive income since i was like 19 years old and i've been generating at least 100 every single month so for last month i actually made 113 dollars selling this product my third source of passive income is you smashing that like button seriously it helps my channel out a lot but it's actually amazon links now for some people this source of income is absolutely huge if you're somebody who likes to buy things and then review them you can make your own youtube channel where you review these products and if people like them they can click your link below each video that you make and if they buy said product you will make a small tiny percent of each sale but if you wanted to make money with amazon links i encourage you to instead of doing the links for products if you don't want to do product reviews to instead do their bounty program which is what i'm doing so in the description below this video and all my other videos i'll leave a link to audible where if you sign up and you click that link you'll get two free audio books from amazon and for whatever reason that one generates a lot more income than if i didn't do it so before i did this i was making maybe 30 dollars per month on amazon because again i'm a financial education channel i don't do physical product reviews but then when i started doing this i started to make yeah i wish no it was not that much it was not 1478.

that's how much people spent clicking my link but i only made 146 dollars and 30 cents which to me is great and i'm really grateful for that because that's how much money i thought i would be making my first year on youtube anyway my fourth stream of passive income is from selling products on shopify now these are actually products that i made myself with my friend where we did a kickstarter campaign earlier last year where we were selling playing cards which is super cool and for my share in the last month of october i made 978 dollars now this is nice money but it's not money i'm actually spending or buying anything with i'm not paying my rent with it it's held in a joint account where we're accumulating money and then reinvesting it to create more products my fifth source of passive income is through affiliate links and this is where i will leave a link below each video to let's say a brokerage that i'm using like weeble where if you fund your account 100 you will get a free stock valued at up to 1 000 and i prefer doing that a lot more to paid sponsored videos if you guys don't already know paid sponsored videos are a huge source of income for a lot of youtubers i think i can reasonably make one to even a couple extra thousand dollars every single month by promoting or advertising another company but so far i've never done a paid or a sponsored video but lord knows i could have used that money so much in the first half of this year when i wasn't getting paid anything and right now i'm getting at least one to two emails a day asking me to promote some product some service or whatever it is and usually i would rather prefer to advertise myself for my products or my services which is my patreon or just to support my work i prefer doing that or leaving an affiliate link where at least you guys will make some profit and some benefit out of it and i will make a little bit of money too but for the last month of october i generated 3 591 dollars which is insane like just saying that out loud it's crazy that's a lot of money to me my sixth stream of passive income is through my patreon page and i'm so grateful and so thankful for this one because to me it's like gold as a content creator on youtube i will only be eligible to be paid if i've met the 100 threshold and i'll only get paid once on the 20th of each month which is such a weird time of the month to get paid in contrast with patreon where i will get paid once on the first of each month which makes a lot more sense because that's actually when all of my bills are due so as a content creator you can use patreon to thank your community make more content for them or give exclusive sneak peek and early access to your videos i went into a slightly different direction where i'm using that money to reinvest it into creating tools where we as investors can use to get immediate value out of and i'm also providing financial transparency by sharing with you exactly when i'm buying and selling my stocks so to me that's really important and i'm sure i can make a lot more money but i don't want to stretch myself out so thin to where i'm over promising and under delivering because i value my time but the older i get the more i'm reminded just how short life is and whatever time i have left i would rather give it to the people that i love spending with the most and yeah money is nice but it's not everything even though it is tempting to take this money and just buy stocks which buys me my time but for the month of october and i can't believe i'm saying this out loud because it feels like a dream i made 4092 dollars which is insane i'm so grateful for that but a large majority of that does go to the stock market data provider so i feel really good about that because i'm using your guys's money to create tools that we all use and get immediate value out of so it's really tempting to use this money to pay it for my own stuff but i'd just rather give it back in the form of these tools my seventh stream of passive income which is consequently the least passive of all of them is the one i'm sure you guys have all been waiting for and that is my ad revenue now when i started my youtube channel i did not know that financial education channels have some of the highest ad rates in the entire industry and that's because you the one who's watching right now probably have the education and the job and the disposable income to spend on things that banks credit cards brokerages they all want access to they want you that is why you are so valuable to them and that is precisely why i'm so picky and so selective with what i talk about because the last thing i want to become is a mouthpiece for those corporations or just be one of those people and youtubers who just gives you timeshare presentations because sometimes i'll watch a video and then halfway through i'll realize oh this person doesn't really care about educating me on how to build my credit score they just want me to sign up to this credit card because they'll get a certain percent of money and they don't even have this credit card that's the thing i don't want and even for me this video is very uncharacteristic because i've advertised so much of my myself my patreon my products my affiliate links like i never do this this is the most advertisy that i've ever been and maybe i'm naive but when i started my youtube channel i was just i bought every course and everything that i could think of to grow my channel and to make money off of it and the one advice that was so prevalent is well there's two of them one of them was batch your content which is to shoot like five videos in one day and the second terrible poor advice that i've ever seen is you need to plan ahead and you need to have a goal maybe that's just me being naive but when i started my youtube channel i had zero goals zero things in mind i just loved talking about finance i love making stupid cinematic videos where why am i shooting in 4k on a sony a7 3 with a g master lens why do i drone like why does a financial education channel need all these things like i don't but i get so much enjoyment out of making these videos that i i make like a day before you see them or two days because i'll spend so much time on them and that to me is what's enjoyable like i don't want to become that person who's just giving you timeshare presentations and trying to sell you on things so again this is the least form of passive income and most of this money by the way came from videos that i've done in the past rather than videos that i'm putting out today it's like all these couple hundred dollar videos they're adding up just like dividends so in the last month of october and this has only started happening to my channel like two or three months ago 12 671. 79 that does not sound real to me so as you guys can see right here this is my october if i go to october there it is twelve thousand six hundred sixty one dollars and ninety four cents for the ad revenue rate so this is not fake in case anybody is gonna fake i've had mostly about averaging four 400 days the highest these two peaks were close to 850 dollars per day and all in all 12 661 i'm just gonna assume that this is never gonna happen again so i'm cherishing and saving every single dollar that i get all together and i can't believe i'm saying this out loud in the last month of october i've made 20 939 dollars and three cents i'm overwhelmed i'm in awe and i'm upset because that's 61 shy of 21 000 i'm kidding i'm not that much of a douchebag that is a lot of money but i'm upset because i've spent nearly 10 years of my life working and providing value for one entity and one person to give them value and build their company that i never even came close and yet here i am with my first year on youtube making an obscene amount of money that it isn't fair and if it's one thing i've learned is that providing value for others rather than one person is going to be far more lucrative for you in the future and so maybe you're spending a lot of time whether it's in a relationship a job or a career and whatever it is you're doing just remember that time could be costing you your greater potential and i'm so happy that i never made my 100 000 per year goal of making that much money in one year before 30.