You know there is this feeling you experience as a teenager who can boast about some income. However, not all teenagers know or have an idea about how to develop their financial health or how to make money.
Making money from activities where you have no active involvement can be pleasing as a teenager and that is a passive income. Passive income is when you make money with little to no active work, especially in the situation where work you have done some time ago continues to pay you some kind of dividends.
Passive income can be gotten from owning a rental property, a limited partnership, or other enterprises in which the person doesn’t need to be actively involved. Passive Income does not involve a full-time job, it does not require much effort nor is it time-consuming. And there are several ways to make money as a passive income earner.
Checkout: 15 Side Hustles you can do in your 20s
With passive income, you can earn a lot whether you are employed or not over a long period of time, it’s like investing in a job that pays you for a lifetime. However, to enjoy a passive income you need some kind of initial investment whether it is finance or time, start ups are very necessary.
When you have a passive income, you are no longer solely dependent on your active income to cover your living expenses. In fact, it gives you room to save and invest more. Choosing ideas for passive income can be a little bit difficult if you don’t understand what to do or what better ideas should you be looking at. That’s why this article has helped to put together some passive income ideas for teenagers.
Here are 15 Passive Income Ideas for Teenagers (#15 is my favorite):
1. Affiliate Income:
If you are a teen who already has some sort of established social media base, you can actually venture into affiliate marketing where you can promote a third party’s product or service by including the affiliate links within your social media post.
If you do have a pretty good following it will be great as your income is reliant on commissions.
Now every time a person purchases one product or more you earn money through your affiliate link.
2. Creating YouTube Contents:
With lots of active users on YouTube, it is one of the best platforms for vlogging or creating other content.
You know once your engagement with your audience and number of subscribers grows, you could actually monetize and can display your content through adverts. With this, you could earn thousands of dollars passively.
Checkout: How to make money with Youtube
If you have good writing skills you can consider blogging. Get a niche that particularly interests you, investing your time and effort because at first blogging can be quite frustrating but eventually it can become sustainable on its own.
Now, once you’ve gained an audience through social and organic traffic, you can benefit from affiliate links and also sponsored posts, products, and courses through your blog site.
4. Selling Stock Photos:
With so many websites and demands available for stock photos, you could choose to start selling your photograph on these sites.
Just imagine you are good at photography, you can choose to monetize it which is a great way to make extra cash. Websites like Shutterstock and Adobe Stock are great options for producing a steady flow of money for you.
Checkout: How to make money with stock photography
5. Social Media Marketing:
There are so many people who are making steady money through different social media platforms such as TikTok, Facebook, Quora, Pinterest, or any other websites.
Consider it as an affiliate marketing where you can post product reviews on Facebook groups or other websites or advertise affiliate links on social media sites to earn money on sales.
6. T-shirt Design:
If you have a thing for design, you can consider T-shirt designs by checking on companies that pay for this design such as CafePress or 99 designs, you can be making money from them because these services allow you to post your logos and vector designs and you can earn money by selling them online.
7. Sell an Educational Course:
As a teenager, there must be something you are good at. You can actually teach others such a subject while you make passive income out of it.
You can choose to have it in form of an ebook and make money out of it. With Udemy, you can create educational content and make money from it. If you succeed at creating a course through Udemy you get paid whenever people purchase your course.
8. Create an App:
if you are good at programming, consider creating simple apps such as a videogame or other apps. By making it a paid app, you can become a passive earner.
With the addition of in-app purchases, you can make more money. You know once an app is public, users download it and you can generate income.
This particular passive income idea doesn’t require a business to keep products in stock. What it does is that the store sells the product and then passes on the sales order to a third-party supplier who in turns ships the order to the customer.
With dropshipping, it sure requires a lot of hard work and sacrifice as opposed to the get-rich-quick stuff. With dropshipping, you sell other people’s products and get a cut from them.
Since most store owners don’t manage their inventory by themselves, dropshippers buy these items from a third-party supplier who fulfills customers’ orders for them and gets a cut from them.
10. Sponsored Posts on Social Media:
With a strong fan base on any social media platform, you can get a growing consumer brand to pay you to post about their product or otherwise feature it in your feed.
However, you will need to keep updating this site, in other to get people more attracted to your socials, be it for entertainment purposes or for informative purposes.
Leveraging your social media presence is an attractive business. With strong content and a growing audience, you can monetize your content and also set up sponsored posts from brands that interest your followers.
11. License your Music:
There are people who are talented in terms of music but are not passionate about performing live, they can actually license your music.
By licensing your music, you are exchanging the right of your music to companies or people and get paid for it.
You can make money by licensing your music through corporate videos, advertisements, YouTubers, weddings e.t.c
Checkout: How to Earn Passive Income as a Musician
12. Create a print-on-demand store:
If you are an artist, designer or you are generally good at both, you can actually go into a print-on-demand business which is a profitable passive income idea.
You know, it involves you working with suppliers to customize white label products like T-shirts, posters, backpacks, or books and then you sell them on a pre-order basis just like dropshipping, you only pay for the product after you sell it.
13. Sell Digital Products:
When it comes to assets or pieces of media consumers can’t touch physically, it’s another way to make a passive income these include downloadable or streamable files such as Kindle books, templates, or PDFs, you only have to make the asset once and you can sell it repeatedly over time.
You don’t need to worry about storage or inventory needed. And you can sell as many digital products as you want.
This is one great passive income idea that involves a collection of digital audio files that are made available for downloading or listening through the internet.
Starting at first could be different, but once you start getting people to watch you or listen or download the files especially when the listeners find value in it, you start making money.
With lots of effort and hard work put together to make amazing content, publish new episodes, consistently and engage your audience you’ll eventually build a show that makes you money for each episode.
With sponsorship, direct support including premium content, affiliate sales, and complementary products help you to start making money.
If you do excellently well at video games, you could develop your own app and start making money from it once people download it. Also, through ads or sponsorship, you can increase your earnings too.
You could also create video tutorials of some sort. Consider membership also, especially on live streaming sites such as Twitch where you can teach your skills and get followers.
Checkout: 8 Ways to Make Passive Income as a Gamer
Inasmuch as the idea of a passive income sounds amazing. Note that it requires lots of effort, and money is also involved. You have to develop a strong background that will give you constant money as time goes by.
However, note that passive income is not a make-money-quick idea, it requires great ideas that will bring about steady money if you invest your ideas well.
With a good passive income idea, you have succeeded to create a life streaming income for yourself without you having to really stress about it. It is just like a lifetime investment where you don’t have to do much work like a regular job.
Florence is a personal finance writer, who is passionate about helping others attain financial freedom. She covers topics from side hustles and debt payoff to investment and retirement.