Passive income, as simple as this two letter words may sound, they is the most buzzing words in the modern world today. Passive income can go an extra mile to quell the fears that come with loss of job, fear of retirement and achievement of financial freedom. With passive income, one can easily derive earnings from other business activities that he or she is not actively involved.

Whether big or just fairly insignificant, there are tons of different opportunities out there that can help you generate passive income. The following is a complied list of 5 simple ways on how to generate passive income.

1. Licensing Photographs

Do you love taking photographs for fun? Or do you have stock of photographs in your achieve that you could license? If the answer is yes, then you are missing a lot in terms of improving your part time income through passive income. There are many people who are licensing their photographs through different websites everyday and earning passive income.

When you license your images and someone buys the right to use them you share in the profits thereby earning extra cash. Remember, the date of the image doesn’t matter, an image taken even ten years ago can still source you cash even ten years to come. So get out our old photos, licensed them and start earning.

2. Creating online courses

Some people have a ton of knowledge but find websites, eBooks and Blogs not appealing. If you fall in this category then creating online course is the best alternative to venture in and earn passive income. As opposed to teachers who have set question, mark and grade students, you just have to set a simple online course that automatically grades any one who takes the test. Make sure that you choose a topic that interest a lot of people such as mobile app development or website maintenance. You will earn a lot every time someone signs in for your classes.

3. Creating new website templates

This option applies to those that are masters of CSS and HTML. There are many people who own websites yet they don’t know anything about how websites are build. If you can design new website templates you can sell it to people who are looking for website templates at a profit thus increasing your part time income.

4. Rent your property

Although, this requires lots of cash to get it underway, it is one of the simplest ways on how to generate passive income. Buy a property and make sure you pay it off, then rent it to someone who is willing to pay more that you initially paid for. You will get monthly checks from who ever rented your property and after a while, the whole property will have paid up its total value.

5. Affiliate marketing

For those who are website owner, considering affiliate marketing is the best way forward if you want to make extra cash. For instance, if your website is about latest fashion trends, you can team up with suppliers of these fashions and start promoting their products via your website. Every click on your website that leads to purchase of the product, you get a small percentage of profit. So what are you waiting for, become an affiliate marketer and start making passive income today.