Making $1,000 a month passively *seems* almost impossible, but I’m here to tell you it’s absolutely not!
Take it from someone who has done it many times over, and has never relied on those weird ‘survey’ sites or risky crypto trading.
Here are 9 tried and tested ways to make $1,000 a month passively or virtually passively.
Ways to Make $1,000+ a Month Passively
1) Creating and Selling Digital Products
- Average Monthly Income: $3,000
- Top Earners Can Make: $10,000+ per month
Have a skill or expertise in a particular area? Why not create digital products such as ebooks, organizers, downloadable packs, cards or how-to booklets?
You might be surprised just how well these little beauties sell, and more importantly how well they continue to sell weeks or even months after you’ve created them!
When listed on a marketplace like Etsy or Shopify, you can easily pull in $1,000+ a month. I pulled this in with just 22 listings for sale!
Related: Digital Products That Sell Like Crazy On Etsy or Online!
2) Selling Spreadsheets or Financial Trackers
- Average Monthly Income: $3,000
- Top Earners Can Make: $14,000+ per month
Know your finance or data analysis inside out? Consider creating and selling spreadsheets or financial trackers online.
These pricey digital products not only help individuals and businesses manage their finances, track expenses, and analyze investment portfolios, but also reduce how much time they’re spending doing it….win-win!
This means they’re willing to pay a pretty penny for the right tracker or tool; they typically retail for $15-$45 a unit, depending on what you’re selling.
Taking an average of $30 a sale, you’d only need 33 sales a month to make $1,000!
Doesn’t sound too bad does it?!
Related: 12 Digital Products with High Profit Margins Anyone Can Create
3) Launching an Etsy or Shopify Store
- Average Monthly Income: $3,600
- Top Earners Can Make: $200,000+ per year
With over 95 million buyers on Etsy, you can easily use the platform to showcase and sell anything from handmade crafts, vintage items, and digital goods to make $1,000 a month!
By creating compelling products and optimizing your store for customers, you can quite quickly generate consistent sales.
Within the first month of my shop opening I had made 90 sales with just 3 listings!
Related: Best Things to Sell on Etsy to Make $5,000+ a Month
4) Selling Photography Online
- Average Monthly Income: $1,800
- Top Earners Can Make: $3,000+ per month
If you have a passion for photography and a knack for capturing stunning images, selling your photos online can become a lucrative source of passive income.
Platforms like Shutterstock, Adobe Stock, and Getty Images allow photographers to upload and sell their photos to a global audience.
The earning potential from selling photography online varies depending on factors such as the quality of your photos, the demand for specific themes or subjects, and the number of downloads or purchases.
On average, photographers can earn anywhere from $0.25 to $5 per download, with top photographers earning thousands of dollars per month from their photo sales.
Related: 30+ Creative Ways to Earn Money Without a Job
5) Sponsored Posts on Social Media
- Average Monthly Income: $4,000
- Top Earners Can Make: $9,000+ per month
Do you have a strong social media platforms like Instagram, YouTube, or TikTok?
Well depending on the niche, you can easily monetize your following by partnering with brands for sponsored posts.
The earning potential from sponsored posts is virtually unlimited.
It does depend on factors such as your follower count, engagement rate, niche, and the brand’s marketing budget.
Hint: I’ve worked with many brands and they will want to see your stats so have them on hand.
Influencers with 100,000 followers can earn anywhere between $500 to $9,000 per sponsored post, depending on who the audience is and how well they regularly engage with your posts.
Related: How to Make Serious Money on Youtube: 7+ Income Streams
6) Flipping Retail Products
- Average Monthly Income: $2,000
- Top Earners Can Make: $5,000+
Flipping retail products involves buying items at a discounted price and reselling them for a profit, and whilst it’s a little less passive, it is very, very lucrative.
Whether it’s thrift store finds, clearance items, or limited-edition collectibles, there are endless opportunities to find undervalued products and sell them for a higher price online.
Gaming, retro, second hand clothes, all of these niches do extremely well!
Related: 17+ Best Things to Buy and Sell For Profit Online
7) Subscription Boxes
- Average Monthly Income: $1,000+ for a small scale business
- Top Earners Can Make: $10,000+
Creating subscription boxes is a little less passive, but it’s incredibly profitable, especially if you tap into a niche community!
Bonus, you don’t have to make these products yourself either, lots of successful subscription boxes simply curate their boxes of goodies!
Boxes, depending on niche, can easily pull in $50-$150/unit – you’d only need to sell 10-15 boxes a month to make an extra $1,000.
Beauty products, unusual snacks, and collectibles do really well!
The amazing thing about this model is that your income recurs every month too.
Related: 55+ Tried and Tested Ways to Make Extra Money This Year
8) Dropshipping
- Average Monthly Income: $2,000
- Top Earners Can Make: $10,000+ per month
Dropshipping IS a saturated business model, but if you’re clever with your products and designs, it can definitely still be lucrative!
Check out the recent success stories below to see that you’re definitely not too late in this business.
The great thing about dropshipping business is that it requires minimal upfront investment and can generate a ton of passive income.
Just note though, unlike what gurus will tell you, you don’t take all the profit here, you’ll probably make around 35% per sale.
Keep in mind, the dropshipping company is fully making, packaging and shipping the product!
You’re not doing any of the heavy lifting, nor are you holding any inventory in your house!
Success Stories:
- Shri Kanase ($755k/year)
- Meowingtons ($150k/year)
- Warmly ($6.7 Million/year)
9) Rental Income
- Average Monthly Income: $1,000
- Top Earners Can Make: $30,000+ per year
Investing in real estate properties and renting them out is definitely riskier and I don’t recommend it unless you know what you’re doing.
Perfect if you have property already – whether it’s residential properties, vacation rentals, or commercial spaces.
The earning potential from rental properties depends on factors such as location, property type, rental rates, and occupancy rates.
If the monthly rental income is priced right for the area, it will more than cover the mortgage payments, maintenance costs, and property management fees.
Success Stories:
- Michael Albaum ($431,000k/year)
- Elisa Covington ($1 million/year)
- Melanie Bajrovic ($1.5 million/year)
What is Passive Income?
Just in case you weren’t aware though, passive income doesn’t mean absolutely no investment or upfront work, in fact, it’s the opposite of that!
Passive income actually refers to earnings you make with minimal ongoing effort.
Unlike active income, which requires continuous time and effort to generate, passive income streams typically involve lots of upfront work or investment but then provide a steady stream of income with little additional effort.