Do you want to make money 24/7? Would it be a dream come true to make money without having to work? When it comes to creating passive income, it’s all about doing the hard work first and raking in the benefits afterwards.
Working a 9-5 isn’t the only way to make money. Learn how to work less and live more by accumulating passive income. Listed below are ideas you can use to start generating passive income today!
Do you have an old car that just sits in your garage all day? If it’s still in good driving condition, then you can rent it out for an hourly rate through Getaround.
Getaround is a peer-to-peer car rental service that allows car owners to rent out their cars.
Have you ever noticed where the price dropped on an item you just purchased? It’s extremely frustrating to buy something at one price, just to have it drop to a lower price days after you’ve already purchased it.
A free app called Paribus is capable of getting you price drop refunds without any strings attached.
Sell digital products on Etsy
Etsy was once known for being the best place to purchase handmade crafts and vintage items, but know it’s all about the digital, downloadable products.
Selling digital products are an awesome way to make passive income, because all you have to do is create the digital product and list it for sell. When people pay for your product, they will be provided with an immediate download link. There’s no shipping and handling, no inventory.
You can sell digital products like:
- Clip art
- Printable artwork
- Snapchat filters
- Printable planner pages
Rent out your home on Airbnb
The summer is approaching and vacationers will be looking for a cheap place to stay while they’re traveling. If you have a rental property or just a spare room in your home, rent it out for extra cash on Airbnb.
Publish an ebook
A passion for writing can help you generate passive income by publishing an ebook. Write your ebook, hire a designer to create the book cover, and use Amazon Kindle Direct Publishing to have your books listed on the Amazon Kindle Store. You can earn up to 70% for each book that’s sold.
Start a YouTube channel
If you’re interested in creating helpful videos, start your own YouTube channel. Once your channel starts to become popular, you can apply to have ads placed on your videos. When people watch the ads on your videos, you’ll make money.
Create online courses
Are you fluent in a foreign language or an expert on a topic? Help other people learn a new skill by creating online courses.
Students get to work at their own pace when they take online courses. If you take the time to create an in-depth online course that’s informative and easy to understand, you’ll start generating passive income quickly.
There’s no better feeling than knowing that you make money in your sleep. Break out of the rat race and create multiple revenue streams with these passive income ideas.