Summary

The author discusses three passive income streams they use to diversify and stabilize their earnings: ebooks, automated investing, and affiliate marketing.

Abstract

The article outlines the author's strategy for generating passive income through diversified income streams. The author emphasizes the importance of developing a plan to earn consistently, detailing their experience with passive income as a form of earning that requires minimal maintenance after initial setup. They share personal insights into how they recovered from the loss of two income streams by leveraging their remaining passive income sources. The author highlights ebooks, automated investing with platforms like M1 Finance, and affiliate marketing as their top three passive income earners. They provide tips on increasing revenue in each area, such as writing more ebooks, investing more capital, diversifying investments, joining additional affiliate programs, and focusing on high-ticket offers. The author also references their Substack for further reading on side hustles and business strategies.

Opinions

The author values the consistency and stability provided by passive income streams.
They believe in the power of "light marketing" and content creation to promote ebooks.
The author is impressed with M1 Finance and its user-friendly interface for automated investing.
They advocate for continuous learning and improvement, as seen in their participation in an affiliate marketing course.
The author is transparent about their success, sharing specific income figures and growth percentages.
They suggest that affiliate marketing can be a lucrative income source, with potential earnings comparable to those of successful bloggers mentioned in the article.
The author encourages readers to explore passive income opportunities and to consider multiple income streams to mitigate financial risk.

3 Lazy Ways I Earn Passive Income Every Month

How I started, what's involved, and how much I make

https://depositphotos.com/455070160/stock-photo-a-domain-computer-workstation-among.html

I’ve always been earning a little passive income here and there but, it wasn’t until I developed a strategy that things really changed.

I diversified my income streams and with a plan, I was earning more and earning more consistently than ever before.

Here’s how I did it…

Making money the lazy way — passive income

Passive income is one of the laziest ways to earn money.

That’s because after you do the upfront work to lay the foundation for the passive income stream, you can sit back and make money with little to maintenance required.

If you’ve ever woken up, checked your phone, and saw that you earned money overnight, you know that’s a great feeling.

It’s something I’ve experienced for years but, not on a significant level and not at all consistently.

These are three income streams that help me earn passively and for more passive income ideas, read these:

These Are My 5 Favorite Passive Income Makers

How you can generate money with minimal time commitment.

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Passively Making Over $8,000 in 3 Months

Doing This One Thing

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The 4-Step Plan I Followed To Make $1,800+/Month in Passive Income

I’m all for passive income.

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Three passive income streams that help me diversify my income

When I lost two income streams overnight recently, I didn’t sweat it.

It was a big deal that my income dropped but luckily, I had multiple income streams so when two incomes disappeared, the other income streams kept me afloat. Many of those were passive in nature.

If you want to learn how it happened and how much I lost, here’s the tea…

I lost two income streams overnight

How much I lost and plans for recovery

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Anyway, here are three passive income streams I have that I want to share. These aren’t my only passive income makers but, they’re the ones I want to highlight in this article.

1. Ebooks

Ebooks are digital products. You create them, hook them up to distribution platforms and the rest can be totally hands-off.

I wrote a few books
I published them on Gumroad

Then, I did what I call “light marketing” which is referring the ebooks in the articles I write and publish anyway.

It takes no effort to drop a link here and there and those links have helped me make thousands from ebook sales this year.

I built a 5 figure income stream in a weekend — Here’s how

I created a new five-figure income stream and it only took me a weekend to create. Let me tell you how I got the idea…

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How to increase ebook income?

If you want to up your ebook income, you can…

Write more books
Pursue additional marketing channels (i.e. email marketing, sales funnels, influencer marketing, social media marketing, etc.)

2. Automated investing

I joined M1 Finance. It’s an app I heard all the bloggers talking about so I gave it a go and I’ve been very impressed.

I just set a recurring deposit and that’s it!

They have crypto, stocks, and ETFs. On the Google Play store, the app has a 4.5 rating out of over 20,000 reviews.

The app is user-friendly and it’s easy to log in and check your progress.

How to increase your investment income?

Invest more
Diversify your investments

Note: I am not a financial advisor and this is not financial advice.

3. Affiliate marketing

Affiliate marketing is one of the first income streams I started.

I learned it from this program.

It helped me 10X my affiliate marketing income, going from $80/month to $800/month in under 30 days after executing what I learned.

Today, I earn a lot more than that every week from affiliate marketing and it feels like it's on autopilot.

I promote affiliate links in many ways but most commonly I use blogging.

Blog posts from months ago earn me $4,000+ per month from a single affiliate program.

I added a $4,000/month income stream to my business

I started over the summer — here’s how I did it

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According to this source, affiliate marketers earn an average of around $150,000 per year and I can definitely see how.

This blogger was making around $50,000/month from affiliate marketing before she put out a course to teach others how she does it. This review shares more on it.

Making Sense of Affiliate Marketing Review [from a $50,000/month affiliate marketer]

This is the Making Sense of Affiliate Marketing course review. If you’ve been on the fence about this course, this…

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This blogger earns over $400,000/month with a big chunk of that coming from affiliate marketing, as well.

$431,775/month as a blogger?

I’ve been following this top blogger online for a few years now. I remember when he was documenting his income on his…

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How to increase your affiliate marketing income?

Join more affiliate programs
Join high-ticket affiliate programs
Do marketing to promote your affiliate offers

TL;DR

I earn passive income from these three income streams (and more):

Ebooks
Investments
Affiliate marketing

How do you earn from passive income?

Have you met your passive income goals this year?

Want to read more stories like this? Check out my Substack where I talk about side hustles, social media, content creation and business.