How to Earn an Extra $1000 month with Passive Income
This post may contain affiliate links.
There is a lot of talk online about passive income. Passive income is the dream in which you are constantly getting paid without having to do any additional work. I personally wanted to create passive income so that I could be a stay at home mom with my four children, but also be able to live comfortably. I still wanted to be able to take vacations, buy my children nice things, pay off debt, and save without worry. But how exactly can you create passive income? Although I do have a blog and am a distributor for weight loss products, I also wanted to create my own passive income stream.
One of the ways that I create passive income is by selling educational resources (printables and lessons) on Teachers Pay Teachers (TPT).
TPT is an online marketplace where teachers (and others) create and sell quality educational products and get paid for it monthly!
But what also is great is that you can get started for FREE! This is what I did until I began to make money from my store. You can go here to visit my store Teacher Helper Kits.
Here are some questions that I constantly get about TPT:
How much can you earn?
Well, earnings depend on a number of things, so I can’t guarantee you any set of income. However, if you have quality products, and you promote them (on Pinterest), you will be able to earn passive income each month.
I'm going to share with you a month of TPT earnings. No one really does this, but I just want you to know what is possible. This was in my first year when I had way less products than I have now. I am nowhere near the biggest seller on TPT at all. Here is a screenshot of one month of earnings:
This is extra money for my family. Mostly I use this for online shopping, unexpected expenses, and paying off debts. Imagine even if you earned an extra $500 how that would help your family.
Why do I love Teachers Pay Teachers?
I get to create a product ONCE, and it sells forever (or until I take it down). Unlike a blog, I am not writing a post weekly or doing anything else. I may pin it on my Pinterest account but that's about it. Some people write blog posts or share it as well on Instagram. Also there are millions of teachers and parents already looking for these products. This means there is already a market for learning resources.
There’s a lot of sellers on TPT, how can I get my resources seen?
Well, Pinterest is your best friend. But honestly it doesn’t matter. Just because someone else is doing something doesn’t mean that you can’t figure out how to do it as well.
As an educator with over 10 years of experience, the subject matter might not change as much, but the way that I deliver it does. Teachers are always looking for new and creative ways to teach subjects so that their students won’t be bored. Also, teachers have to go over a lesson multiple times to get a student to understand something, so there is no I taught it once and its over. I might teach the same concept for a month, then continuously review it for the rest of the school year.
There are always educational trends (think STEM or Growth Mindset), that then requires teachers to find new lessons to teach the new concept.
Why do teachers use TPT?
Well first a lot of textbooks are outdated and not as engaging. Sometimes the district textbooks don’t even align with the state standards. Some school districts are even getting rid of textbooks but teachers still have to figure out how they will teach their students. That is why TPT is so important for teachers.
Do I need to be a teacher?
No, there are all sorts of people on TPT. Teachers, principals, counselors, moms, artists; basically anyone creative that can make quality products. Oh, and now that there is video on TPT, there are also musicians that make learning videos and they do really well!
Does it cost to start?
No, TPT has a basic plan and once you start earning money you can switch to the Premium plan. The premium plan is $59.95/year and TPT only takes 15% of the sale with no transaction fees. On the Basic plan it is free, and you earn 60% of your earnings. TPT takes the other 40% + .30 cents transaction fee. As soon as you start making money, upgrade to the Premium Plan to earn more of your sale and get rid of the transaction fees.
How do I get the clipart?
There is free clipart on TPT that you can use. All clipart is not the same quality and you do have to be aware of the terms of use. In my resource, I will show you how to get the best clipart and how to use it for your products.
What programs do I need?
Powerpoint, which is already on your computer and Adobe Acrobat. If you have a Mac, you can use Pages.
What types of things can I sell?
Worksheets/printables, classroom décor, clipart, videos, songs…any type of educational material. Some people even make games and anchor charts that they create and sell as a “hard good”. I personally don’t create or sell hard goods, only because I like the ease of use of digital products.
How much time do I have to spend on TPT?
In the beginning while building your store, you might spend more time on making products.
However, keep in mind that you are creating passive income, so you only have to make it once and continue to sell it. There are no rules on how many products you need in your store, some people only have 25 products and make more money than someone who has 200. It depends on the quality, timeliness, and relevance of your product.
I started my store with 4 children under 5, working full-time as a teacher, and still was able to make products for my store.
How do I get started?
Go here and sign up. (This is my affiliate link. If you sign up, I will receive a small commission at no cost to you. I will also give you a discount on my resource that will show you how to begin earning money on TPT right away.)
Create your store name. If you have a blog you might want to have the same name, but it is not necessary.
You must first upload a free product before you get started selling.
If you don’t know how to create printables, I have created a course that will walk you step by step through the process. My resource will also show you what products to make that sells quickly!
If you are serious about creating real passive income for your family I suggest starting a Teachers Pay Teachers store. Create a product once, and sell it continuously in a marketplace where people are already looking for the products.
Click here to learn more and get a 50% discount on my course!
*Once you purchase, I will send you a special link to access the course within 48 hours.