On this post, I will document all the best and honest solutions I have found to earn extra money from home and the passive income streams/strategies I am using, that are generating income for me. I will give a quick summary of what the stream is, ease of setup, the difficulty level, the time it took to generate $1.00, how much it is generating for me per month, and any other details that I think are important under special notes.
- The difference between Ease of Setup and Difficulty Level.
- Ease of Setup is how easy it is to get it going
- Difficulty Level is the total work required to make it a proper passive income generating machine
I will focus on each of the best solutions I’ve discovered to earn extra money from home, exclusively for three months to learn it fully and implement everything I have learned. Each income strategy will have its own post within My Life of Zen (you can also click the headings below to be redirected to them), that documents every step that I have taken, hopefully, to make it a money generating machine. Thereafter, I will move on to a new strategy while continuing to build on the previous ones.
- Note: The dedicated pages for each income strategy will go into more detail, and have weekly updates. So, if you want a full play-by-play check out these pages. If not, I hope the summary below would be sufficient for you to get started.
What is Wealthy Affiliate (WA)
From my research so far on online passive income strategy, Wealth Affiliate seems to be the most promising. They have a no BS approach to helping members (who also make up their WA Community) build websites that generate passive income via affiliate marketing. They don’t preach the get-rich-quick scheme, it is a long term strategy that relies on building a niche site that is rich in content (Note: “rich content” means meaningful content that is relevant), and generating website traffic naturally. So your site will not be making money for several months.
Ease of Setup – 4.5 out of 5
The setup is very simple on WA so far based on my experience. They do an excellent job with the videos and lessons, which makes it super easy for even a novice to get started + their community is uber active and very helpful. You really don’t need any experience in building a site, since the videos and lessons pretty much hold your hands and give you very thorough instructions on:
- creating a site
- finding your niche
- how to create content (and they also give you templates to make this even easier)
- finding keywords to write posts for your niche
- ensuring you are search engine optimized aka SEO (how to end up on the first page of google, bing, yahoo and other search engines)
The only reason I am giving it a 4.5 and not a 5 is because many of the features are only available for premium members. The good thing is that the first month is discounted at $19 USD.
Difficulty Level – 3.5 out of 5
Sorry to say, but it is difficult after the initial setup. You need to invest time in mastering and learning about your niche. However, if it is something you are passionate about, it is actually super fun. For me, I am just writing about things that have worked for me and I am already looking into passive income sources anyway. So, for me, it’s no extra work and I don’t notice the time go by. You also need to understand how keywords and other SEO tactics work and it takes some time getting used to. I assume once I master those this would be much easier. Currently, in my early stages, it is somewhat difficult. Again WA’s community is a boon and they have been super helpful.
Time to $1.00 – 13 days!
At the Time of this writing (April 9, 2019) it is currently $0.00 – Note: I am just setting up my site and getting acquainted with all the features of WA. I will update on the very 1st day I generate my very first dollar
I am happy to report on April 21, 2019, I have crossed the first milestone of the USD 1.00 mark!!!!! It took me exactly 13 days to reach this milestone.
Passive Income Generated per Month (average since starting)
It currently sits at USD 1.15. Note: I will update this monthly with my average income generated/month and my exact previous month’s income
If you are interested in Wealthy Affiliate please use my affiliate link below or click here to register – I will earn $23.50 for monthly recurring or $175 for yearly recurring premium sign-ups – each are paid monthly or yearly (from what I understand). I am yet to make any income from WA sign-ups at the time of this writing on April 9th, 2019 – I will update monthly how much this is also generating for me here.
Total Income Generated So Far from all Sources via WA: $1.15 USD (updated 06/06/2019)
Total Cost of Wealthy Affiliate: USD 19.00 for the first month + USD 13.00 for domain registration = USD 32.00
If you are considering joining Wealthy Affiliate, you can find my full post on WA here: Best Passive Income Investments: No.1 Wealthy Affiliate
2) Shopify – Currently Researching
What is Shopify
Shopify is an online platform that allows you to easily set up an online store. The platform streamlines the creation of a storefront, allows the owner to accept credit card payments and make it easy to start an e-commerce business. Most of the drop shippers you see online use Shopify due to how easily you can set up a store and get it going. Now, there are countless apps within the platform that aids in making it easier for you to make your store stand out and make the sales – provided you have a good product to sell.
Right now, I am researching what niche product I can source via Ali Express to sell. Most likely when I figure out what to sell, I will combine it with a Shopify storefront and Amazon FBA (Fulfilled by Amazon) to make the sales. I will update here and create a dedicated page to this particular topic once I am done my research and figure out what to sell. So stay tuned.
If you have any questions regarding the strategies I am using to earn extra money from home, feel free to contact me directly at ben[at]mylifeofzen[dot]com or drop a comment below and I will answer them for you.