14 Proven Ways to Make $2,000-$3,000 Per Month in Passive Income (2024)

Building streams of passive income, money that requires little maintenance is the key to gaining financial freedom.

14 Proven Ways to Make $2,000-$3,000 Per Month in Passive Income (2)

While $1,000-$2,000 per month is excellent, an ideal income for many is $2,000-$3,000 earned passively.

The good news is that with focus and some upfront effort, hitting this goal is absolutely possible. Here are 14 of the most proven ways you can realistically make $2,000-$3,000 or more every month in passive revenue:

  • Top blogs make money through advertisements, affiliate revenues, and digital products.
  • A blog earning $5 RPM with 100,000 monthly visitors results in roughly $500 income per day or $15,000 per month.
  • Big name personal finance blogs like BudgetsAreSexy.com and GoodFinancialCents.com earn over $200,000 per month.
  • While blogging does take work upfront, income can remain mostly passive for years once content volume is built.
  • 45%+ of all books sold on Amazon are self-published Kindle ebooks
  • Popular genres like mysteries, sci-fi, romance can pay authors $1,500-$4,500+ per book
  • Using Amazon’s paperback self-publishing services also unlocks higher royalties
  • Consistently publishing 2–3 books annually that sell just 250–300 copies monthly would achieve over $2,000 in passive royalty income
  • Real estate investors prefer the cash flow and appreciation potential of small multifamily homes over single family rentals
  • Duplexes with proper management average 8–15% annual ROI from rental income minus expenses
  • A $300,000 duplex at 12% ROI yields $3,000 monthly in cash flow after paying the property manager
  • Refinancing the mortgage and increasing rents over time results in significantly higher cash flow
14 Proven Ways to Make $2,000-$3,000 Per Month in Passive Income (2024)

FAQs

14 Proven Ways to Make $2,000-$3,000 Per Month in Passive Income? ›

Imagine you wish to amass $3000 monthly from your investments, amounting to $36,000 annually. If you park your funds in a savings account offering a 2% annual interest rate, you'd need to inject roughly $1.8 million into the account.

How much money do I need to invest to make $3,000 a month? ›

Imagine you wish to amass $3000 monthly from your investments, amounting to $36,000 annually. If you park your funds in a savings account offering a 2% annual interest rate, you'd need to inject roughly $1.8 million into the account.

What passive income pays the most? ›

Dividend stocks

Dividends are paid per share of stock, so the more shares you own, the higher your payout. Opportunity: Since the income from the stocks isn't related to any activity other than the initial financial investment, owning dividend-yielding stocks can be one of the most passive forms of making money.

How much money do you need to live off of passive income? ›

It's easiest to live off of passive income if you live in a low cost-of-living area. To live off of financial investment and cash-equivalent income, you'll need a larger amount of money. To earn $30,000 per year, you'll need $600,000 invested at 5% per year.

How can I live comfortably on $2000 a month? ›

Housing and Utilities

Housing is likely your biggest expense, so downsize or relocate somewhere with a lower cost of living. Opt for a small space or rental apartment rather than homeownership. Shoot for $700 or less in rent/mortgage. Utilities should run you no more than $200 in a small space if you conserve energy.

How much do I need to invest a month to become a millionaire? ›

Assuming that you can earn this 10% average return over your investing career, if you are getting started investing this year and you want to become a millionaire in 30 years, you would need to invest $506.60 per month. This amount may seem like a lot, but it may actually be pretty doable for many people.

How to make 3k a month in dividends? ›

A well-constructed dividend portfolio could potentially yield anywhere from 2% to 8% per year. This means that to earn $3,000 monthly from dividend stocks, the required initial investment could range from $450,000 to $1.8 million, depending on the yield.

Can you live on your own making 3000 a month? ›

If you're single and don't have a family to take care of, $3000 is enough to get you through the month comfortably. And, if you keep your expenses to a minimum, you can save a few hundred dollars from your paycheck.

How are people making passive income in 2024? ›

Think: selling courses online or renting out a room in your house. You can potentially make passive income through investing in funds or stocks that pay dividends, as well as bonds, bond funds, and real estate.

Is there any real passive income? ›

Passive income is money that doesn't take much time or effort to make and you don't earn it from a traditional job. It can include earnings from rental properties, dividends from stocks, selling courses online, and other projects where you're not involved in the continued generation of revenue.

What business makes the most passive income? ›

1. Rental properties. Investing in rental properties is a smart way to increase your income and build your wealth portfolio. While it may require some initial investment and effort, having rental properties can provide a steady stream of passive income that requires little ongoing work.

How to make $5,000 a month passively? ›

If you like the idea of earning passive income, one idea to make $5,000 per month is to rent out things for money. This is probably the best option if you're very busy with your job and don't have time to start a new side hustle. You can essentially let your assets make money for you so you're earning on autopilot.

Top Articles
Latest Posts
Recommended Articles
Article information

Author: The Hon. Margery Christiansen

Last Updated:

Views: 5925

Rating: 5 / 5 (70 voted)

Reviews: 93% of readers found this page helpful

Author information

Name: The Hon. Margery Christiansen

Birthday: 2000-07-07

Address: 5050 Breitenberg Knoll, New Robert, MI 45409

Phone: +2556892639372

Job: Investor Mining Engineer

Hobby: Sketching, Cosplaying, Glassblowing, Genealogy, Crocheting, Archery, Skateboarding

Introduction: My name is The Hon. Margery Christiansen, I am a bright, adorable, precious, inexpensive, gorgeous, comfortable, happy person who loves writing and wants to share my knowledge and understanding with you.