The dream in life is to always live on your terms, with financial freedom being the ultimate goal. Many people who love traveling fit this description especially. They want to break free from the 9-5 life, have more time and opportunity to travel the world, and do it all without having to worry about money.
So how can you make this dream a reality? How can you make passive income while traveling? In this blog post, we’ll explore multiple ways to do so.
Why We’re Not Going To Include Stocks
Stocks take a very long time to build up a substantial amount of passive income. For example, if you start with $10,000 and make 10% annually, in 10 years you’ll have made $16,000 from stocks. That’s a lot of money, but it isn’t enough to live off of unless you want to live a very frugal lifestyle. That’s why in this blog post, were going to go over practical ways to start earning passive income so you can live the life you want to live, now.
What Is Passive Income?
Before we get started, let’s first define what passive income is. In short, it is an income that requires little to no effort to maintain. So you put the money or time in upfront, and then you can reap the rewards later down the road without having to put in any additional work.
Start a Blog
So the first way to make passive income while traveling is to start a blog. Starting a blog may take a little while to get going. It may take even a few years to make a substantial income, but that upfront work of two years or so may be worth it. That’s especially if your dream is to be a full-time traveler.
To make money blogging, you’ll need to find a niche that you’re passionate about and build an audience around it. Once you have a solid audience, you can start monetizing your blog through affiliate marketing, advertising, sponsorships, or selling digital or physical products.
One of the best parts about having a blog is that once you get good at writing, you can also make active income by freelance writing for other blogs or publications. This may enable you to travel wherever you want even sooner than you thought possible.
Start a YouTube Channel
This is very similar to starting a blog, but with video content instead of written content. The great thing about YouTube is that you can start making videos even if you don’t have any fancy equipment. All you need is a phone and a decent microphone.
As with starting a blog, you’ll need to find a niche that you’re passionate about and build an audience around it. Once you have a solid audience, you can start monetizing your channel through advertising, sponsorships, or selling digital or physical products.
Just like with blogging, if you get good at making videos, you can also make active income by freelance video editing for other YouTubers or businesses. This is another great way to fund your travels even sooner.
The good thing about both blogging and YouTube is that you can put them both together and create passive income on one idea, or piece of content on both platforms. This will help you reach a wider audience and make even more money.
Create an Online Course
Now let’s say you become successful in blogging, YouTube, or even both. You now have the expertise to wrap up everything you did to become successful in an online course.
Many people want to start a blog or YouTube channel, but they don’t know where to start. This is where you can come in and help them out by creating an online course that outlines everything they need to do to get started. You can even go a step further and provide additional resources, templates, or tools that they can use along the way.
There’s also the option to sign up as an affiliate to those resources and make even more passive income along with the revenue from your course. You just have to make sure that you’re adding those resources because they have legitimately helped you throughout your blogging or YouTube journey.
The great thing about an online course is that you can sell it over and over again and reach a global audience with very little effort on your part. Once you’ve created the course, it’s there forever to make you money while you’re off traveling the world.
Build a Software Product
If you have some coding skills or know someone who does, you can build a software product. This could be an app, plugin, or theme. Once you’ve built it, you can sell it on platforms like Gumroad or Sellfy.
What’s great about this is that people will continue to pay you for your product year after year as long as it’s still useful to them. This is a great way to make passive income while traveling because you can build the product once and sell it forever.
The key here is to build something that people will want to buy and that will continue to be relevant over time. The one thing you have to do is make sure that the product you create stays relevant over time and that it continues to be useful to people.
Sell An E-Book
If you’re a good writer, you can write an e-book and sell it on platforms like Amazon Kindle Direct Publishing. This is a great way to make passive income because people will continue to buy your book as long as it’s relevant to them.
The key here is to write a book that people will want to read and that will continue to be relevant over time. The one thing you have to do is make sure that the book you write stays relevant over time and that it continues to be useful to people. You can do this by analyzing what you’re going to write and making sure that it’s evergreen content.
Sell Digital Products (printables) On Etsy
If you’re creative, you can sell digital products on Etsy. This could be anything from printables to graphics to templates. Once you’ve created the product, you can sell it over and over again and make passive income.
The key here is to create a product that people will want to buy and that will continue to be relevant over time.
Some people create tattoos, illustrations, or even fonts and sell them. Another idea is to create planners for different niches and sell them. The sky is the limit when it comes to digital products, so be creative and think of something that you can sell over and over again.
Sell Stock Photos
Think about all the places you’re going to be while traveling – there will be plenty of opportunities to snap some amazing photos! If you have a knack for photography, you could start selling your photos online and earn some extra cash while doing something you love.
There are a few different stock photography sites where you can submit your photos, such as Shutterstock and iStockPhoto. Once your photos are approved, people will be able to purchase them for use in their projects. You’ll earn a commission every time someone buys one of your photos, and if your photo is purchased multiple times, your earnings can add up!
So start packing your camera bag and get ready to sell some stunning photos while you’re on your next adventure!
How to Speed Up The Passive Income Process
So there is one specific way to speed up the passive income process, which is to buy a passive income business. Let’s say you have enough money to buy a blog that’s generating money each month. This is a form of an online business, and once you own it, it will make money for you every single month without you having to put in any extra work.
You’re essentially buying an asset that will generate income for you. We don’t recommend this unless you learn the business in and out. It’s always better to start your own business from scratch so you can learn the skills to continue to duplicate the process and scale your income.
Is It Possible To Live On The Road With Passive Income?
The answer is yes! It is possible to live on the road with passive income. You just have to be creative and think of ways to make money while you’re traveling.
Below we will go over some ways you can make money actively and still travel. These are not all of the ways, but they are some of the most popular and easiest to do.
Customer Service
The first way is by getting a job in customer service. You can find many customer service jobs that are location-independent, which means you can do them from anywhere in the world as long as you have an internet connection.
Freelancer
We mentioned freelance writing above, but if you have any other talents that you can offer, such as web design, social media management, or even accounting, you can find freelance work online and get paid to do it!
Teach English Online Or Tutor
Many people want to learn English, so why not get paid to teach it? Many companies will hire you to teach English online or tutor students one-on-one. And the best part is, you can do this from anywhere in the world!
All of these could be paired with some of the passive income ideas from above to make a great combo!
Conclusion
There are many ways to make passive income while traveling. You just have to be creative and think of ways to make money while you’re on the go. Whether it’s selling digital products, writing an e-book, or selling stock photos, there’s a way for everyone to make passive income while traveling. A lot of these take some extra time and effort to get started, but once you do, you’ll be able to sit back and relax while the money comes in! And that’s what passive income is all about.
Do you have any other ideas on how to make passive income while traveling? Let us know in the comments below!
If you found this blog post helpful, please share it on social media! Also, take a look at our other most recent blog posts below:
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