As nurses, we often don’t have the freedom of time to look for a part-time job or run a serious physical business. With the demands of our work, we’d rather go home, rest and prepare for our next shift. This, however, doesn’t mean that we’re forever stuck with this routine. One option is exploring opportunities for passive income so you can earn even while you’re sleeping or resting at home.
Here are 6 passive income ideas you can try.
1. Write eBooks for or about nurses
Writing eBooks is one of the easiest and cheapest ways to earn money passively. You only need to dedicate bits of time everyday in drafting and completing your book.
Once it’s up, you can relax while waiting for sales to pop in your email. Since it will be digitally published, you won’t need to worry about the cost of printing, shipping and selling them in book shops.
There are a lot of topics you can cover for your eBook. You don’t need to be an expert writer to be able to draft one. You can conduct short interviews with seasoned nurses or compile working tips for new nurses. You can also write studying hacks for student nurses and those who are about to take their licensure examinations.
Writing an eBook, in general, can help you share your knowledge as a nurse and wellness advocate.
2. Start a blog
Aside from eBooks, you can also start your own blog to earn money passively. However, compared to publishing an eBook, a blog can require more time and effort to maintain. You need to be able to produce quality content on a regular basis to attract visitors to your site. You also need to know basic computer skills, such as editing and posting your article on the internet. Aside from content, you can also increase your revenue by allowing Sponsored and Pay per Click advertisements.
In addition to earning, starting a blog can also help you build a personal brand. It can associate your name with positive feedbacks that can attract potential employers. It also makes data verification easier for the hiring party. Once you are able to build a good name, companies can even reach out to you to promote their products on your site.
You’d be surprised but there are many popular nurse blogs in the Internet. And they’re earning from them! The two most important things about maintaining a blog is that 1) you enjoy it and 2) you let your voice through so that your readers can enjoy reading through your content.
See Also: Top 100 Nursing Blogs That Matter
3. Sell affiliate products
When it comes to affiliate marketing, you need to focus on a specific niche and the products you want to sell on your site. As a nurse, you can use your profession as an authority to promote products that can improve your readers’ wellness and health awareness. Because they see you as someone who advocates their well-being, they will trust your opinion and readily click through your links.
However, in endorsing your affiliate products, it’s essential that you give out truthful and honest reviews. Even though you are into affiliate marketing, it doesn’t mean that you have to be biased about what you’re selling. Posting false claims isn’t only a form of deception, but it can also put your readers’ safety at risk.
4. Invest in Index Funds
A good passive income idea for nurses who aren’t into internet marketing is the Index Funds, which is a form of passive investing. It’s somewhat similar to mutual funds but it relies on indexes to mirror its performance instead. Aside from that, index funds also require lower management fees than a regular mutual fund investment since it doesn’t need to be actively managed.
And compared with actively managed portfolios, index funds don’t require too much time or even knowledge about investing or economics. These features make it perfect for nurses who are busy working with their daily shifts.
5. Rent a Room
If you have a spare room at home, you can consider renting it out. Rental spaces are actually a good source of passive income, particularly in high-density locations. You can even rent it out to one of your colleagues.
Before you allow a potential tenant to move into your house or property, it’s a wise move if you can make negotiations first, particularly about your preferred mode of payment. You can ask for a bimonthly or weekly pay depending on your preference and your tenant’s capacity.
Aside from payment terms, you should also be clear about your boundaries at home. It’s a good idea if you can discuss with your potential tenant the things he’s allowed and not allowed to do while inside your property.
6. Sell an online wellness course
There are a lot of people in need of guidance in learning a new skill or achieving a specific goal, particularly when it comes to health and wellness. Being a nurse and a healthcare provider, you can use your knowledge in creating online wellness courses that can help these people.
You can start a master cleanse program or a detoxification and weight loss course. Depending on your availability, you can offer a live online course or a self-study program.
If you choose to teach live, you need to set a specific time and date where your students have to get online to follow your course. In a self-study program, your students can learn at their own time and pace. You only need to draft and upload the course and topics so that your students can conveniently download and study them during their free time.
Passive income gives us an alternative to depending on our work hours for income. In our regular jobs right now, if we don’t work, we don’t earn. Having multiple revenue streams — both active and passive income — will give you a much more stable financial outlook.