Passive Income UK Ultimate Guide
Updated: Sep 19, 2022
Money Mentor Income offers the ultimate guide to earning passive income in the UK.
With years of experience in making money online, we have tried and tested methods that have worked with our own websites and those of our clients, to teach you how to generate an income while doing something you enjoy or are good at, and allows you to stay at home with your family, or that even helps you make more money on top of what you’re already making!
You’ll learn about many passive income streams, including affiliate marketing, blogging, e-commerce and much more!
Passive Income: What is it?
What does passive income mean? Passive income means you earn money from an outside source that requires little to no work on your part.
For example, if you are paid a salary, then you are not considered to have passive income. On the other hand, if you have a rental property that earns monthly rent, then your rental property would be considered passive income.
As another example, consider someone who owns stocks that pay dividends — their dividend payments would be considered passive income.
Try setting up a stocks and shares account on eToro to generate dividend income.
Passive income in the UK: strategies you can use today
I’ve never met anyone who dreams of working longer hours at their job. Who wants to work overtime or on weekends? The dream is usually to be able to work less so that you can have more time for yourself.
Well, I’m here to tell you today that it’s possible. If you can come up with a plan and execute it properly, you could achieve passive income in any area of your life that you desire.
In fact, I started earning passive income long before I even made my first £/$ online.
Passive income is everywhere—it's all around us! It's just a matter of harnessing it and putting it to good use—and that takes planning...
Passive income sources - what are they?
Many people want to know what passive income sources are, how they work and if they’re viable.
Passive income is a popular concept these days as more and more people look for ways to earn money on autopilot.
A passive income is earned with little effort because it doesn’t require a main job that occupies your time and effort. From website-based passive income sources to assets like stocks or even rental properties, there are many ways you can earn an automatic paycheck – which of course leads to growing wealth.
While not all of these methods will be right for you, it’s important to get familiar with them so you can make informed decisions about building yourself wealth in any way possible.
The best way to earn passive income in 2022
Passive income is an essential part of a well-rounded financial strategy and it can be created through a variety of means.
In fact, at least one type of passive income can be earned by almost everyone who has access to a computer or smartphone.
Whether you’re actively blogging, passively blogging or even just have your site up as a holding page (website), you have several options when it comes to monetizing your website.
You could include ads on your site, sell some items on eBay, sign up for Amazon Associates (an affiliate program that lets you advertise products on your site and earn commissions if people buy them), etc.
How to start a passive income blog business online
A very popular online passive income business of late has been the blog, or content website.
In summary, you simply need to set up a website (people usually use a WordPress site hosted on bluehost).
Then you need to decide what niche you are going to write your content about. It should be something you are both interested in and knowledgeable about.
Then you need to spend time, and lots of it, writing content for your site, preferably somewhere near 100 blog posts to ensure google indexes your site and begins ranking it.
This is not a quick process, and you need to work at it for at least 6-12 months before you start to see any progress (or traffic).
As and when you do eventually start seeing traffic, then comes the fun part of monetizing your site with such things as online affiliate programs, google AdSense, Amazon products, and e-books etc.
After a period of time (and effort on your part), you will start to see revenue coming through in increasing amounts, eventually reaching a decent sum per month.
If you want to try a blog and don't know where to start, they you could do worse than try out Wealthy Affiliate which tells you step by step how to do it.
You can sign up here and have the first course for FREE!
Passive Income UK Ultimate Guide - The Bottom Line
Passive income is, in essence, income you can earn without doing anything. While it can be hard to find passive income opportunities that will make enough money to survive on (or at least provide a comfortable living), they do exist and they are worth pursuing.
The key is to be patient and strategic and look for ways you can build up multiple streams of passive income so that you're more likely to get paid while doing nothing.