For some people it would be a dream come true if they never had to work another day in their life and many times passive income may guarantee you that.
Passive ideas may even get you money while you sleep and that may sound crazy and too good of a deal, but for may that has become a reality.
Passive income is income from cash flow received on the regular where one requires minimal to no effort to maintain it. Some of the passive income ideas are like Lyft Doordash Rakuten rewards Airbnb, blogging, YouTube and more that we are going to look at in-depth. Passive income is more common in affiliate and network marketing activities and they have the potential to provide one with financial aid day to day and also be able to satisfy your passions experience and skills learnt in past years.
When one chooses to get income passively, sometimes all you need is all you have. This helps majorly to avoid any incurring costs. It may be your laptop or your car or even your own home.
Despite passive income sounding so good and juicy, it first requires your time, work and resources. Like any other new job, it may require time to launch as you learn more about it because most passive income ideas are self-taught.
Here are 20 passive income recommendations:
Imagine earning money from making your own purchases. It may sound as a scam but Rakuten rewards literally rewards you for clicking through their website.
All you need to do is set your Rakuten Rewards account which you can do HERE then click through the store you want where you will be led to the store’s website and proceed normally. They have large stores like Walmart, Amazon, Target and many more.
Here you earn cash back in over 2500 stores. Rakuten rewards gets notified on the purchase and send money to your PayPal account and after every three months, a check of your full earnings is sent.
Furthermore, you can even make more than that by referring people to the Rakuten Rewards and they thank you by adding $25 to your account and still give the new users a $10 gift card.
Rent out your property on AirBnB
A couple of years back it would have been bizarre to recommend to someone that they could actually host people in their house for money.
People were quite skeptical of strangers and would rather avoid any contact with them but since times are changing and people are looking for the easiest of ways to make money, hosting people at a fee is becoming a norm.
If you have that extra room in your house this could be the best and easy way to get income.
Airbnb is an online marketplace that connects people who are looking for accommodations in the local area and people who want to rent out their homes.
It now covers more than 81,000 cities in 191 countries worldwide. The name Airbnb comes from the name “air mattress B&B”.
The host passively generates income from their immediate property by renting it out using this is a good way to earn that extra cash since the hosts do not have to pay to list their properties and it is up to them to set a price they want to charge.
Another advantage of hosting them through Airbnb is that they have a Host Guarantee program which provides protection for up to $1,000,000 in damages to the property in that event that a guest damages anything.
Make deliveries on Doordash
This is a technology company that uses logistics services to deliver food from restaurants on-demand. As a “Dasher” one works as an independent contractor delivering food to people who request for them through the Doordash app and website.
You have the liberty to set your own hours and how much you make is based on your trips.
So, what do you need to be a Dasher? One needs an insured vehicle or bicycle and a smartphone and the minimum age is 18years old. Depending on the day it is possible to earn up to $25 an hour amounting to $1000 a week. Good money, right?
Become a Lyft driver
This is a transportation network company where people get affordable rides in minutes. Lyft may be a really good passive income idea if one chooses to be a driver for the company. All you need is to:
- Browse Lyft’s application requirements page.
- Add phone number and verify.
- Add vehicle information.
- Add Driver’s license information.
- Accept a background check.
- Take your vehicle for inspection.
- Check application status.
The good thing of being a Lyft driver is that you can also set your own working hours which may reduce burn out and stress compared to a tight scheduled job. It is so easy to start that all you need is a smartphone and a car in good shape. The first days may seem low on profit but it is totally worth it.
Complete tasks on Swagbucks
This is a get-paid-to website where one needs to complete simple tasks online such as watching videos, completing surveys, taking daily polls completing free-trial offers and cash backs.
Every time you complete a task, you get points where 1 point is equivalent to 1 cent. For example, a £5 Amazon gift card may cost you 620 Swagbucks and you would need 16,000 Swagbucks to accumulate £100. This may seem low but the more time you spend on it, the more points you get hence more money and the tasks are many which accumulate to substantial pay.
All you need is to sign up on Swagbucks to get account and you can get started immediately.
Peer to peer lending (P2P)
You could also earn that extra dollar by lending cash to individuals or businesses through online services that match the lenders and borrowers. Since this companies mostly work online, they run lower overhead than the traditional financial institutions.
The biggest advantage for you as a lender is that you can earn higher returns compared to savings and investment products offered by banks while the borrowers get the loans at cheaper interest rates. It is basically a win-win situation for both parties. So how do you start? You become an investor by:
- Opening an account with for example, Lending club (link) which is quite easy to fill out with personal details.
- Log in to the account.
- Connect your bank account and add funds for investment. The amount you choose to start investing with will vary but the least one can start with is $2,000.
- Click the Browse Notes link and invest in a $25 note within 80 of these loans that is if you have a minimum of $2,000 in available cash.
- After being satisfied with your choice, click Continue to move to the Place Order screen where clicking it will invest your funds into the loans.
7. Start a YouTube channel
YouTube has been around for a while now and people are starting to catch up cashing in some decent money. Since it’s a video channel, you will definitely have to make a video and post.
It has a huge global audience with up to 1.58 billion users making it second after Google, the online search engine.
One thing that make money off YouTube requires is creativity, hard work and consistency for 1000 hours of video are uploaded every minute.
It calls for consistent and unique content regularly. So, when do you start earning you ask? First of all, to get a decent pay off it, you require at least 10,000 subscribers for that substantial pay but before your audience grows, you can rely on advertisements where you can earn between $3 and $10 per 1,000 viewer engagements.
YouTube pays the owner of the video 55% of any ad revenue collected on your page. If you have those 10,000 subscribers, and they get to view your video 10,000 times, you are at least looking forward to getting at least $3,000 on the payday.
YouTube would definitely work for you if you are a creative and is also a flexible job since you choose your working hours to your preference.
Affiliate Marketing with your blog
Writing blogs may not seem to be a quick way to earn that passive revenue but just like YouTube, you can earn through partnering with people and companies to promote their services and products on your blog. You get paid a percentage of the sale or a flat fee depending on terms.
Most Bloggers join Affiliate programs such as MaxBounty and Amazon Associates which give you access to thousands of products and services that you can be an affiliate for.
It may be quite easy especially if you are also interested in the same products and services. You could do this through adding photos or videos on your blog and putting direct links to their websites.
Create an online course
Many of us may have that one skill that we are quite good at. For e.g. cooking, photography or even repairing cars.
Whatever it may be, there are sites that offer these skills but this time, you can sign up as a “teacher” and upload videos doing it practically.
Sites such as Udemy and Teachable.com have millions of students who are ready to sign up for new courses. You also have a variety of ways you can upload the content through videos, checklists for completing steps seen in the video, small eBooks to supplement the videos, audio files, interviews with like-minded experts on the content posted etc.
Selling Stock photos
Sometimes all you need is all you have and probably your camera has been lying around idle for a while now. Not to worry.
Do you know you can actually sell photos to websites to use? People do not just google photos and post them on their Websites because hallo! There are copyright rules! There actually sites where you can sign up and post pictures to sell at.
These Microstock sites may require you to upload not more than 10 photos for the first time. Some may have a policy of approving your photos first but after they do you are set to make that extra buck for your sweat.
Selling products on Amazon
You may have things like household items or car parts or any other items that may be lying around your house that you may want to get rid of.
Amazon provides a platform to sell these things including shipping them to your customers. This could also be a good platform for new businesses.
Rather than starting a standalone website, Amazon could be a better website and guaranteed customers since they are millions.
The process of registering as a seller is quite easy considering you do not need a sales person. All you need to do is click on the sell as a professional or sell as individual buttons on their page.
Other information needed will be your business and contact details.
A major advantage of selling on Amazon is that they have very affordable selling plans that consider the number of items you will be selling.
Own a Vending machine
As crazy as this may sound but a successful vending machine business can be a great way to make passive income especially if you get a right place to install the machine. The first thing to do would be to scout for new places that may be driving traffic but aren’t as known.
They may probably have no vending machines at all. Another way to scout for a viable place is to look at small businesses that may be having over 100 workers in the building on a day to day basis.
After getting a place make a point to ask the workers what they may prefer in the vending machine since it wouldn’t make sense to get a vending machine with stuff that won’t be bought.
The first days may need you to monitor it yourself but with time you may get to hire someone to stock the machine for you.
This is a platform where designers get to freely join, start an account upload work and receive a royal payment which is also free. Once you join, you get to upload your art work file and add some descriptive text.
They are the ones who offer your design on several different products with hundreds of different variations. It may seem that the pay is low but consider the large audience that the site has and he marketing they accord your designs once someone views your designs.
Sell stuff on eBay
Just like Amazon eBay provides a site where you can sell stuff that has been lying around or just items of your newly start business. The following is a step by step procedure on how to start selling on eBay:
- Go to “Sell your item” button on the eBay site
- Create a listing for the item you want to sell.
- Confirm your details and add an automatic payment method for any eBay fees.
Crowdfunded Real Estate
In all sense people will always need a place to live, work and play. It is quite a safe and stable way to start making some extra cash passive income. If you aren’t a real estate expert, no need to worry.
That is where crowdfunding comes in which involves collecting investment funds from a large group of people.
You as the investor is able to invest at least $500 to join or even less depending on the crowdfunding platform of your choice.
It may take time to get the income but when it finally starts coming in you reap the fruits without doing anything. The good thing is that you do not have to ever visit the property or live in the same state. It is more of a hands-off investment.
Rent out your car on Getaround
Unlike other car sharing services, Getaround was started on the basis of sharing your cars with strangers. It is more like the Airbnb rather than this time you rent out your car.
When you are willing to share your car, you pay $99 for Getaround to install a device that can unlock the car. Monthly you are required to pay $20 to still be connected to the company’s network.
You are able to rent your car for as between an hour where the rate starts at $5 where Getaround gets to keep 40%. This could be a good passive income idea especially if you have another job. It would earn you that extra buck.
Imagine getting a refund for an item you already bought and is in use.
Paribus is a free online tool that tracks your purchases and makes sure to inform you if the in-store price reduces. It also makes sure it follows up with the store to get our refund.
They also check for late deliveries since the tool can be linked to your accounts where you purchase stuff regularly.
Getting money off the internet has become so easy.
Since online purchases have become so common Shoptracker is able to make an online survey on Amazon by getting access to your order information with your consent of course so as to take a survey on the products that are mostly purchased, from who etc. By letting them have access to your order information, you get to earn $36 without having to work for it at all and all you have to do is purchase via Amazon and who doesn’t in this time ad age!
Get paid to have an app on your phone
Imagine installing an app on your phone and get paid for it. The app tracks what you do and sells your data.
This is as passive as it goes! You do not have to check the app regularly or any of the sort. As long as it is in your phone, you are set to earn.
Mobile expression is one of the apps that is available for iPad where you can earn rewards when you get it in your phone and leaving it on your device for at least 90 days.
If you target the right audience and have the right subject matter eBooks could actually work for you. The biggest trick is to write non-fiction books and provide a valuable resource to your readers.
More specifically “How to” books are the go getter and they do not have too many words or pages.
Self-publishing is actually better especially if you are starting out on the writing business and provides other routes of marketing. The average amount one can earn is $2000 and $5000 every month from digital and physical sales of the book.
How your daily steps can earn you money
In this day and age of love for carbs, exercising can be quite difficult since it requires work and that is why a digital currency called Sweatcoin has decided to motivate people through financial incentives.
Working out can be quite boring especially if the results aren’t visible. After installing the app, verifying and all that, you get to the gist of the app where 1000 steps amount to 1 Sweatcoin.
It may take a while but is very worthwhile since you get to exercise too while at it. Another advantage of Sweatcoin is that the Sweatcoins can amount to an Amazon credit or even be enough to an audiobook.
To wrap it up
Passive income may not pay up as soon as you would want but in the long run surely does. Something else that needs to be in the back of your mind is that creating a passive income is not a short-term money-making strategy but you need to think long term.
There are quite many options to chose from considering the above examples so choose any that seems to work for you but all are still wort a try.
Passive income also doesn’t mean that you don’t have to work and put your hard work into them, you most definitely do. But after the initial capital/effort to setup, little and sometimes no effort is needed to maintain the venture.