How I Make $30,000 A Month (5 Ways)
Last month I made over $30,000 in passive income. And to put a long story short, I put the hours in every single day and I was slightly obsessive. But if you want to know exactly how I made this happen, keep on reading because I'm going to be revealing everything.
My 5 Streams Of Passive Income That Make Me Over $30,000 A Month
So first, I think it's important that I give a little bit of context on why I even want to make passive income in the first place and why I cared about money at such young age. So growing up, I always thought you had to work until the day you died. And I remember talking to my about this and I was telling her, okay, so I have to go to school for 20 years of my life, and then after, I basically have to work for 40 years, but when do I actually get to do what I want to do with my life? And she proceeded to tell me that that's just normal and that's the way life is and there really is nothing that I can do.
And honestly, this was really sad to me because thinking about it, I did not want to work forever. And I don't know about you guys, but I have some days where I just want to chill, play some Minecraft all day without having to feel guilty or have to worry about anything. But honestly, that's really hard to do when you live paycheck to paycheck and have bills to worry. Like most people do I wanted complete freedom of my life. I wanted to do whatever I wanted, whenever I wanted. And I also want to be able to travel without having to worry about my bank account balance. The last thing I wanted on my mind was to be stressed out about money or have to look at the price tag every time I want to buy something.
And of course, I am still very young and I'm still figuring things out, but I am kind of happy because I did crack the code and I have figured out how to make passive income online. That way I don't have to work until I retire. And one of my biggest goals is that by the time I'm 30 years old, I really hope that I can make enough passive income. That way all my expenses can be covered. I can basically kind of retire and just do whatever I want. But anyways, now that we got that out of the way, I do want to share with you guys my five streams of passive income that make me over $30,000 every single month.
Dividends
So my first passive income stream that makes me around $800 every single month is from dividends. And for anyone wondering, a dividend is a payment that you get for investing in certain stocks. So, for example, if you were to invest $100,000 in a stock that pays a 5% dividend, that means that every single year you're going to get paid $5,000 and you aren't doing anything to make this money. So it's basically passive income.
And the main reason I started investing in dividend stocks is because it's super simple and I can also retire off of them. And my goal currently is to continue putting money in dividend Stocks. That way, eventually I can have over $2,000 a month just from dividends, and that can be enough to cover my lifestyle.
And as crazy as it sounds, I could most likely live off of $800 a month if I really wanted to. I probably just have to live in a cheaper country or live in some island in the Caribbean like Dominican Republic. And if you're curious on which dividend stocks I have, I have TD bank, BMO, Coca Cola, and Johnson and Johnson. These all pay really good dividends and I have a lot of my money in them, which is why I make quite a bit of money from dividends.
YouTube
Now, moving on, my next stream of passive income is YouTube. Now, I do think this is more of like a semi passive income stream, which is why I didn't add the total amount of money from this to the total amount of money I make every month. But let me explain why. I think it's kind of like a semi passive income stream. So if you look at my channel, you'll see that I have in total 15 videos. But if you look at a video I made five months ago, you can see that I'm still making money from it, even though that was actually a while ago.
I also thought it'd be cool to show you guys exactly how much YouTube paid me the last 28 days. And I have not actually posted a video in the last 28 days. My last video posted, I think, was about one and a half months ago. So I'm still getting paid by YouTube, as you can see. And that's what I'm talking about. So I literally haven't made a video for a month, but YouTube still pays me. So some days I've made up to like $900, even like 1,200. And now since I've been posted for a while, it's starting to go down and it's saying that I'm making about like 600 a day, which honestly is not too bad.
But still, I find it's crazy because I haven't posted a video for a month, and I still made $24,000. So imagine if I was posting videos regularly, like every week, or maybe like two videos a week. So people who make YouTube videos about finance content definitely make a lot of money. And I definitely need to, you know, step up my game and start posting more. So YouTube is honestly a great way to make money. And if you've ever wanted to start a YouTube channel, or maybe you have a passion for it, I highly recommend you start a channel now.
Automated Dropshipping Business
My next stream of passive income, which is by far my favorite, is my automated dropshipping business. And if you've readed my other articles, you know, I do this for a living, and it's basically what allowed me to quit my job and do this full time. And last month, my dropshipping business made over $50,000 in sales, which comes to around $18,000 in profit.
And for those of you who don't know how dropshipping works, it's basically where you create your online store using the Shopify app. You add products from AliExpress on your store, except you mark up the price drastically because items on AliExpress are very cheap. Then when a customer buys a product from your store, you basically send out the product from AliExpress directly to your customer, and you get to keep the profit.
And I currently have two dropshipping businesses, one that's passive income and one that isn't passive income that I have to work on every single day. Now, the reason one of them is passive income is because I've been working on it for longer than a year, and I basically established its brand on all social media platforms. And now, because a lot of it is done and I have repeat customers, and like I said, I kind of have a brand established, I was actually able to hire two people that now just run my business full time. They create all the content, and they basically do everything else for the business.
So this was literally a blessing because I created a business that now works for me while I sleep, and it makes me quite a bit of money. And so this was really rewarding, and I'm so glad that I did it. And so now my goal is to continue to build these dropshipping businesses, but what I'm actually going to do after a year that they're built and they're established, I'm going to go ahead and automate them and hire people to do all the work for me. That way it's going to be another income stream for me and it's passive. And this is why passive income is so important to me, because it gives you complete freedom. And now I don't really have to worry about the price tag whenever I want to buy something. So I am very grateful that I started dropshipping three years ago because it definitely did change my life.
And for anyone that is reading this and wants to learn my exact step by step process to building multiple six figure dropshipping businesses today. I recently came out with dropshipping course that teaches my exact strategy.
Affiliate Marketing
Now this is basically where you advertise a product that isn't yours. And basically whenever someone clicks on the link and purchases the product or they sign up with your link, you're going to get a small commission. For example, in the below of the article, I have a link where you can sign up and you can get a free stock. And so when you sign up and get that stock, I also get a small commission. And I make about $10,000 every single month from the 11 companies that I'm working with.
Now obviously I make money from affiliate marketing by putting links in my TikTok bio and in my YouTube video descriptions. Now if you're reading this and you don't have a TikTok account or a YouTube channel, that's okay because you can promote these on basically your personal social medias, or you can even put them in Reddit threads or just YouTube channel comment sections and stuff like that.
And some people even pay for Facebook ads or Google Ads to promote the product. So for example, if I search up, "Robinhood free stock" in Google, this link here comes up and basically that link is actually someone else's, and what they've done is they probably paid for Google Ads for it to show up at the top. So if I search that up and I click on this link, I'm going to get a free stock and they're also going to get a small commission.
And if you actually did want to start affiliate marketing, you can just have to head over to clickbank.com, create an account and it is free and from there you can basically choose which product you want to promote. So yeah, it's pretty simple and anyone can start it now.
Renting Out An Old Car On Turo
My next stream of passive income, which is coming soon, is renting out an old car on Turo. So I have not yet started renting out the car on Turo, but I am going to do it really soon and honestly I think this is a great side hustle to make some extra passive income. There's so many cars on Turo and there's so many people out there making money from renting out their car and honestly I think I could make anywhere from like 200 to 300 a month from doing this. But I will be sure to update you guys in my next article to see if this actually works and if I actually make money from doing this.
