Passive income might sound like a way to make money without doing much work, but that’s not really true. Most of the time, people who make passive income have put in a lot of effort to get there. They’ve built up a following, figured out how to advertise effectively, and made sure their product or service is really great.
But if you’re willing to put in the work, passive income can be a great way to earn some extra cash and have more control over your life. Here are 30 ideas for making passive income, along with some tips to help you get started.
What is passive income?
Passive income is money that you can make without having to work too hard for it. It’s called “passive” because you don’t have to actively participate in earning it. This type of income can come from many different sources, like investing in stocks or real estate, selling things online, or creating online courses.
Unlike regular income, which you have to work for every day, passive income can keep coming in even when you’re not doing anything. This means you can have more free time to do the things you love, and you won’t have to worry as much about money.
If you’re a business owner, you might be interested in finding ways to make passive income. This can help you earn more money without having to do extra work. Some ideas for passive income include creating online courses, selling digital products, or investing in stocks or real estate.
No matter what your situation is, passive income can be a great way to improve your finances and reduce stress. So why not start exploring some passive income ideas today?
1. Start an Ecommerce store
E-Commerce is a cool way to make passive income from anywhere. You can make a lot of money in a year with an ecommerce store! But, it’s not a quick way to get rich. You have to put in some time and effort to make it work.
Basically, an ecommerce store is a place where people can buy things online. The cool thing is that you don’t have to actually see or touch the things you’re selling. With dropshipping, your supplier takes care of everything from making the product to shipping it to the customer. You don’t have to pay your supplier until your customer pays you, so you don’t have to worry about losing money.
Another cool thing about dropshipping is that you don’t have to worry about buying a product that nobody wants. You can use a platform like Spocket to find popular products to sell in your store.
Depending on what you sell and how much you charge, you can make a good amount of money with ecommerce. Plus, you’ll learn how to run a business!
Learn More:
How To Start On eCommerce Business
2. Invest in the stock market
Investing in the stock market might seem tricky, but it’s a smart way to make money in the long run. A lot of people make the mistake of only thinking about the short term when they invest their money. But if you want to reach your financial goals, you need to think about the long game.
The idea behind investing in stocks is to spread out your money so that you don’t lose everything if one company does badly. You can do this by investing in different things like mutual funds, exchange-traded funds (ETFs), and high-dividend stocks. These stocks pay you a little bit of money over time, which can add up to a lot in the long run.
To start investing in the stock market, you need to open a brokerage account at a good financial institution and put some money into it. This will give you access to the stock market and allow you to start building your wealth.
3. Create & Sell digital products
Digital products are assets you can buy online that you can’t touch with your hands. They’re things like ebooks, templates, and PDFs that you can download or stream.
The cool thing about digital products is that they can make you money without you having to do a lot of work. You only have to make the product once, and then you can sell it over and over again. You don’t need to store anything or keep inventory.
You can create and sell as many digital products as you want, which means you can make a lot of money. Some people make even more money by selling kits, printables, and other things that professionals can use.
Learn More:
How to Begin Selling Digital Products
4. Become a blogger
Starting a blog can be a bit tricky, but it’s a great way to make money without having to work all the time. You don’t have to be famous on the internet to earn money online. All you have to do is find your audience on one or two platforms and then send them to your website.
It takes some time to build a blog, but if you make good content and share it on your platforms, you’ll get a lot of people to read it. This will help you make a lot of money.
You can make money from your blog by:
– Selling things that other people make
– Writing posts that companies pay you to write
– Selling things that you make
– Putting ads on your blog
The best part is that you don’t need to know how to design or code to start a blog. You can use a website like Shopify to help you get started.
You’ll need to spend some time making sure people can find your blog and making good content, but it’s worth it. You can make up to $30,000 a month from your blog if you do it right!
Learn More:
The Best Blogging Resources and Tools
5.Teach online courses
Selling courses online is now easier than ever. You can create courses on a variety of topics, like marketing, illustration, or entrepreneurship, and sell them repeatedly without having to keep any inventory. This means you can make money while you sleep!
Creating an online course takes some time and effort. You’ll need to plan out your course, record it, and create materials like templates for your students to use.
One example of someone who has successfully created an online course is Yegi Saryan. She started an online beauty brand selling eyelash extension products, and then created Yegi Academy to teach others how to do it too. Her classes are available both online and in-person, and help people all over the world start their own beauty businesses.
Because your course is recorded ahead of time, you can make changes to it to fit different class sizes and experience levels. You can also make it fully downloadable so that students can work at their own pace, or release lectures and materials at regular intervals.
Teaching an online course is a great way to make money without having to spend a lot of money upfront. All you need is some time and effort to create a course that people will want to take.
6. Run an affiliate marketing business
Affiliate marketing is when you tell people about a product or service and get paid if they buy it using a special link you give them. It’s a great way to make money without doing a lot of work.
People become affiliate marketers because:
1. It’s easy. You just have to tell people about the product or service and the company takes care of everything else.
2. It’s low risk. You don’t have to pay anything to join an affiliate program. You just have to spend time getting people to click on your link.
3. It’s scalable. You can keep making money even if you don’t do any extra work.
Making money with affiliate marketing is a great way to add more money to your business. All you have to do is spend some time promoting the product or service and then you can sit back and watch the money come in.
Learn More:
Affiliate Marketing: A Guide To Getting Started
8. Sell stock photos online
Photography is a cool way to make money, but it’s not like some of the other ways on this list. You have to actually take pictures and be at events to make money. That can be tiring, even if you’re making a lot of money.
But, if you’re a full-time photographer or have a good camera, you can make passive income by selling your photos online. There are websites like Pexels and Shutterstock that will pay you for your high-quality photos and videos. You don’t have to keep any inventory at home, just your camera and laptop.
These websites will do the marketing for you, so once you upload your photos, they’ll help you sell them. If you have a photography business on Shopify, you can also sell digital products like prints or print-on-demand products like shirts and hats. This means you can make even more money without having to work as much.
9. Buy a rental property
Real estate investing is a way to make money by buying property and renting it out to people. This can be a great way to build wealth over time and make money without having to work too hard.
If you have enough money, you can buy an apartment building or some other type of property and rent it out to people. But being a landlord can be a lot of work, so you can hire someone called a property manager to help you. They will take care of things like finding tenants, making sure the property is in good shape, and collecting rent.
The best part is that your property will probably go up in value over time, so if you decide to sell it in the future, you could make even more money. Real estate investing can be a great way to build wealth and make passive income.
10. Rent out your spare room
Do you have an extra room in your house or apartment that you’re not using? Or maybe you’re going on a trip and don’t want to leave your house empty. Well, you can make some extra money by renting out your space on websites like Airbnb or VRBO.
Airbnb is a website that connects people who are looking for a place to stay with homeowners who have extra space. People like staying in Airbnbs because they can be cheaper and more convenient than hotels. This means that there is a high demand for your extra space if you become an Airbnb host.
If you have more than one extra room, you can make even more money by renting them all out. Some people even buy apartments just to rent them out on Airbnb. However, you should know that renting out your space can require some work upfront. You might need to furnish or renovate your extra room before you can rent it out.
Overall, renting out your extra space on Airbnb or VRBO can be a great way to make some extra money. Just make sure you do your research and follow any local laws before you start renting out your space.
11. Rent out your car
You can make money by renting out your car. There are a few different ways you can do it.
One way is to use a service called Turo. Basically, you list your car on their website and people can rent it from you. You get paid for each rental, and Turo takes care of things like insurance and background checks.
If you already drive for Uber, you can also sign up for services like Carvertise or Wrapify. These companies will pay you to put ads on your car while you drive around town. So you can make money while you’re already out and about.
Finally, you can also rent your car out to someone who needs it for Uber or Lyft. This means you don’t have to actively drive around yourself – you can just let someone else use your car and collect the money they make.
So there you have it – three different ways to turn your car into a passive income stream. Pretty cool, right?
12. Lend money to peers
Are you looking for a way to make some extra money? Have you heard of peer-to-peer lending? It’s a way to lend money to people or small businesses who need it.
Here’s how it works: you sign up on a website like LendingClub, Prosper (for individuals), or Worthy (for businesses). These websites connect borrowers with lenders like you. You can see loan requests and interest rates based on the borrower’s history.
When you lend money, you can earn a return of around 5% to 6%. The more you lend, the more money you can make. It’s a great way to put your extra cash to work for you.
13. Earn while shopping online
Cashback reward sites are a great way to make money while shopping online. Sites like Swagbucks, MyPoint, and Rakuten offer you the chance to earn passive income just by signing up and shopping. The more you shop, the more points you earn, and the more money you can make.
But be careful! Don’t spend more than you can afford just to earn rewards. Stick to your monthly budget and don’t max out your credit card. Remember, the goal is to make money, not spend more than you have. So shop smart and earn some extra cash!
14. Buy and sell websites
There are tons of websites out there about anything you can imagine. And guess what? Many of them make money through things like ads, memberships, or selling products. Sometimes, people even sell their websites!
One website that helps you buy and sell online stores is called Flippa. All you have to do is create an account and verify it, and then you can safely buy or sell a website.
This is a really cool way to own a business that already has some customers and traffic. Plus, after you buy a website, you can get help from the seller to make sure you do well.
15. Start a YouTube channel
Are you interested in starting a YouTube channel? You might think it’s too late, but actually, 74% of adults in the US use YouTube! That’s a lot of people who could watch your videos and help you earn money.
But here’s the catch: starting a successful YouTube channel takes a lot of work upfront, and you might not see any money right away. However, if you’re willing to put in the effort and be patient, you could earn a lot of passive income in the long run.
There are a few ways you can make money from your YouTube channel. You could earn money from affiliate sales, where you promote products and earn a commission when people buy them through your links. You could also get sponsorships from companies who want to advertise on your channel. Branded integrations are another option, where you work with a company to create content that promotes their product. And of course, you can earn money from ads that play before or during your videos.
It might seem like a lot of work, but it’s possible to make a lot of money from YouTube. Just look at Ali Abdaal, who started his channel while working as a doctor in the UK. Within four years, he was earning more from his YouTube channel than from his job! So if you’re willing to put in the effort, starting a YouTube channel could be a great way to earn passive income.
16. Invest in REITs
Have you ever wanted to earn money from renting out property, but don’t have enough money to buy a whole apartment building? Don’t worry, there’s still a way for you to earn rental income!
With just $500, you can invest in a real estate investment trust (REIT) platform like Fundrise. A REIT is a company that owns and manages profitable real estate, and by investing in it, you can earn passive income as the assets appreciate. This is a great way for smaller investors to pool their money together to afford investments they wouldn’t be able to afford on their own.
Over the past ten years, the average annual return for REIT investments was 9.5%. This means that if you invest in a REIT for the long-term, it’s one of the best passive income ideas out there.
However, before you start investing, it’s important to do some research. You don’t want to blindly invest your money without knowing what you’re getting into. Luckily, there are plenty of resources available, like this guide, to help you get started. So, if you have some startup capital and are willing to do some research, investing in a REIT could be a great way for you to earn rental income.
17. Stake cryptocurrencies
Have you ever heard of staking crypto? It’s a way to earn money without doing much work! It’s like earning interest on your savings account, but with even more money.
To get started, you need to learn about proof-of-stake cryptocurrencies and how to get a crypto wallet. Then, you can research different coins to decide which ones to invest in. Once you’re ready, you can buy crypto on exchanges like Kraken or Coinbase.
After you invest, you just have to wait and check on your investments every so often. The more you learn about crypto, the better choices you’ll make and the more money you’ll earn.
But remember, staking crypto is like any other investment and comes with risks. You also need to spend time learning about your options before investing.
18. Invest in businesses
You can invest in businesses even if you don’t have a lot of money! There’s a website called Mainvest.com that lets you invest just $100 to get started. And the best part? You don’t have to pay any extra fees!
Now, you might be wondering how much money you can make from investing. Well, it depends on the business you invest in. But Mainvest says that you could earn anywhere from 10% to 25%! And the cool thing is that you don’t have to do any research on the businesses yourself. Mainvest takes care of that for you. All you have to do is invest your money and watch it grow.
This is a great way to make some extra money without having to do a lot of work. Plus, it’s a safe way to learn about investing in businesses. So if you’re interested in making some passive income, give Mainvest a try!
19. Rent out unused space
Do you have a basement or garage that you don’t use? Did you know that you can rent it out as storage space? It’s true! And you can do it safely and easily with storage rental platforms like Neighbor, Peerspace, and StoreAtMyHouse.
The storage industry is growing really fast and is expected to be worth $64 billion by 2026. That means that renting out your space for storage is a great way to make some extra money that will keep coming in for a long time.
You can store all kinds of things in your space, like cars, boats, RVs, or even business inventory. And using a storage rental platform is a smart way to make sure that everything is done safely and legally. These platforms provide payment options, contracts, and all the information you need to make sure that you and your renters are protected.
So if you have some extra space that you’re not using, consider renting it out for storage. It’s a great way to make some extra cash and help someone else out at the same time!
20. Sell NFTs
Have you ever heard of something called NFTs? NFT stands for “non-fungible token,” which basically means it’s a unique digital asset that’s stored on a special computer system.
The neat thing about NFTs is that they can be really valuable. You can make NFTs for all sorts of things, like pictures, music, games, and even videos. And making an NFT is actually pretty easy! You just need to sign up for a website like OpenSea and follow the steps to create your own NFT.
Even though NFTs are still pretty new, people have already spent over $10 billion on them! But don’t worry, it’s not too late to get in on the fun. Just remember that you’ll need to spend some money upfront to create your NFTs and make them worth buying.
21. Create a job board
Have you ever heard of a job board? It’s a cool way to make money online without doing a lot of work. Here’s how it works:
Employers use job boards to tell people about job openings they have. People who are looking for jobs can go to these websites to find new opportunities.
If you make your own job board, you can charge employers to post their job openings on your site. You can also offer special features like sponsored jobs or access to a database of job seekers.
But here’s the thing: making the website is easy. The hard part is getting people to know about it. Once you have a lot of people using your job board, you can make a lot of money without doing much work.
If you want to see some examples of job boards, check out ProBlogger, Dribble, or Construction Jobs. They might give you some ideas for your own job board!
22. Create no-code apps
Creating a mobile app is easier than ever before! You don’t need to be an expert to make one. There are tools like Appy Pie, Adalo, or Bubble that can help you get started. In 2020, people downloaded mobile apps 218 billion times!
First, you need to decide if you want to make a website or a mobile app. Think about what your app will do and who it will help. You also need to think about how you will make money from your app.
There are a few ways to make money from your app:
1. Subscriptions: People pay a monthly fee to use your app.
2. Ads: You show ads in your app and get paid when people click on them.
3. Pay to download: People pay to download your app.
4. Marketplace model: You take a commission on sales made through your app.
If you’re not sure what kind of app to make, there are tools to help you. Check out this list of research tools to get started!
23. Write a digital guide
Do you know a lot about a certain topic? Well, did you know that you can make money by sharing your knowledge with others? It’s called passive income, and it’s a great way to earn money without having to work all the time.
To get started, you don’t need to spend any money upfront. All you need is time to research what people are searching for. You can use Google suggestions or a tool called Ubbersuggest to find out what keywords people are using to search for information.
Once you know what people are looking for, you can create a digital guide to share your knowledge. You can sell your guide through your own website or a seller platform. It’s that easy!
So, if you have a passion for something and want to make some extra money, consider creating a digital guide. It’s a fun and easy way to turn your knowledge into cash.
24. Earn royalties through inventions
Did you know that inventors are still around today? And guess what? You can make money from your own inventions too! It’s called passive income, and it’s a real thing.
But how do you get started? Well, the first step is to make sure your invention is unique and solves a problem. You don’t want to waste your time on something that already exists. So, check out the US patent website to see if your idea is original.
Once you’ve confirmed that your invention is one-of-a-kind, you can start thinking about how to sell it. There are websites like Invention City and InventMyIdea that can help you get started. Depending on the deal you make, you can earn a percentage of the profits or get paid every time someone buys your invention.
25. Record audiobooks
Have you ever listened to an audiobook and thought, “I could do that!” Well, guess what? You can! And not only can you do it, but you can also make money from it.
When you create an audiobook, you can earn passive income in the form of royalties. This means that every time someone listens to your audiobook, you get paid. But before you can start earning money, there are a few things you need to learn.
First, you need to know how to audition. This means you’ll need to practice reading out loud and recording yourself. You’ll also need to learn proper narration techniques, like how to use your voice to convey different emotions and how to pace your reading.
Next, you’ll need to figure out what niche you want to work in. Do you want to narrate romance novels, self-help books, or something else? Once you know your niche, you can start looking for books to narrate.
Finally, you’ll need some editing skills. This means you’ll need to know how to edit your recordings so they sound professional. Don’t worry if you’re not a tech whiz – there are plenty of resources out there to help you learn.
If you’re feeling overwhelmed, don’t worry. There are platforms out there that can help you get started. Check out sites like ACX to learn more about the audiobook industry and how to get your foot in the door. Who knows? You could be the next big audiobook narrator!
26. Invest in vending machines
Have you ever wondered who fills up those vending machines with snacks and drinks? Well, the owner of those machines is making money from your cravings! Did you know that the vending machine industry is worth $8.6 billion?
If you want to make some money too, you can start your own vending machine business. But, you’ll need to invest some time and money upfront. Here’s a guide to help you get started with your first vending machine.
You can check out websites like Craigslist, eBay, or BizBuySell to see how much money you’ll need to buy your first set of machines. You’ll also need to figure out how many machines you can afford to start with. Once you find places to put your machines, you’ll have a great source of mostly passive income.
