Not too keen on shuttling people around? We totally get it. How about dropping off a to-go order of burgers and fries instead? Driving for Uber Eats, Grubhub or Postmates is a great way to make extra money in your free time just by delivering food to hungry clients. Bonus points: Your car is going to smell amazing. We’re already kind of jealous of you, really.
Whether for high school students or adults, you can monetize your expertise by teaching people with less experience or knowledge than you in that subject area. You can work with an established group like Kaplan for, say, SAT tutoring, or you could try hanging out your own shingle and making your services known either to students, parents and schools in your community. If you are targeting adults, you can create your own website or list your services with adult tutoring companies.
When most people think of investing opportunities, they think of stocks, bonds, and precious metals. While these are still some of the most common ways to invest, the platforms have evolved, and there are more options than ever. Gone are the days of mountains of paperwork, high brokerage fees and unattainable account minimums. Now you can invest on your own terms.
You can do the same thing with strollers, kids toys, etc. One EXCELLENT item to flip is iPhones! There are SOOO many scammers on Craigslist from other cities who list $200 new iPhones. They are fake ads that want people to call them and then the “seller” will scam the buyer. Anyway, enough scammers list $200 iPhones that the legitimate people in your city selling iPhones see the low prices on Craigslist and think that’s the going rate! I bought an iPhone last week here in Boise for over $200 less than the LOWEST used price on Amazon or eBay. I could flip that phone for a nice profit, and there were several other iPhones in Boise priced similarly that I could do it with.
For example, if you register for free with Textbroker.com and submit a writing sample, you’ll receive a rating based on your content quality. Then you can choose which projects you want based on your quality rating and earn 0.7 cent to 5 cents per word, or more. FreelanceWriting.com provides a long list of freelance writing opportunities culled from several top sites. Many of the recent listings offered hourly rates of $25 or more. For $21 a month, you can join Mediabistro’s freelance marketplace to post your qualifications for review by media managers seeking writers.
There are so many investments that it’s tough to know what a safe and reliable on is. Personally, I recommend index funds for this. An index fund invests in many of the largest 500 companies in America. Over the last 100 years, and the last 20 years, and the last 10 years, you’re very likely to see a return of about 9 or 10% after fees. These are much safer investments than buying stock in an individual company.
I wouldn't think of a high yield savings account as a source of passive income but your savings should be getting something (less like Seinfeld syndication residuals and more like a commercial jingle residuals!). It won't make you rich but it's nice if your baseline, risk-free rate of return on cash is 1% or more. The best high yield savings accounts (or money market accounts) offer higher interest rate and there is absolutely no risk. CIT Bank currently leads the pack with the highest interest rate.
There are many comments about it being impossible to break into real estate with little money, or needing help from the bank of mommy and daddy. It is possible. I bought my first property, a multifamily, 6 months after graduating college, with a garbage job I got 3 months before and barely 7k in the bank. It’s now two years later and I’ve purchased a second this summer. Regarding management, I self-manage like most ‘small time’ landlords. Unless you own a massive apartment buidling, there’s no need to professional managment. Like another comment mentioned, I’ve only ever gotten heating issues or other minor things, for which I have a handyman to take care of. Aside from that, it’s fairly passive IMO. Dividend investing doesn’t require 100k either. It’s just an example the author used. I invest un securities with dividends ranging from 2-12%, and hedge/balance according to risk. Higher dividend % isn’t always better, but there are some good deals you can find. I think the key is to realize that you don’t need to stick to just one form of passive investment. Sure, 10 properties sounds daunting, and a $1M portfolio seems impossible, but you can combine both, as well as other passive income strategies. And ofc, the more risk you are willing to take on, the higher the potential reward (and loss). I day/swing trade, but wouldn’t advise this. It’s also not passive, I spend a massive amount of time researching and analyzing the technicals, but it’s worth it for now, as I’m fairly consistnet with profits. I have not tried blogging, and am not sure I’d be any good at it. I dabbled in ecommerce but found it was too time consuimg, but I know people who were able to quit their 9-5s from ecommerce. I’m sure no matter how much debt you have (i have 30k unsecured debt) or how little you think you make, there is a way to start investing today, even if it’s starting small.
But when so many turn down leasing one and one-half acre for one Wind Turbine for each 80 acres, that lease certainly does not materially affect the rest of the Farm or Ranch grazing pasture and the lease pays much more than the farm crow or grazing pasture lease, just because some lawyer said the lease was too long: 30 years plus 30 year option = 60 years, and the wind turbine company has selling production/electricity contracts for the next 150 years – which is needed to obtain financing!
I guess I just don’t understand why the specific importance of focusing on “dividends” instead of focusing on the total return of your investment, including stock appreciation. I don’t really care if a company decides to issue a dividend or not; presumably, if they don’t issue a dividend, then they’re doing other things to increase the value of the company, which will be reflected in the stock price of the company. As an investor, I can make money by selling a percentage of my holdings or collecting dividends, and I don’t really care how that’s divided up – it’s an artificial distinction.
But cutting costs only goes so far. Unless you already make a lot of money and spend like a bon vivant, most people can’t eke out that much more from their budget by decreasing expenses. Plus, the more you retrench, the more your quality of life suffers. (It’s all relative, though — certainly some overspenders could actually improve their lives by tempering their expenditures. Here are 101 ideas for saving money.)
You'll also need ecommerce software, fulfillment software, worry about warehousing, customer service and refunds. But that's not all. You'll also need traffic. Think search engine optimization, Facebook ads, and other social media campaigns. It is hard work, especially on your own. You could opt for Amazon's platform, which might be the easier route. But, then again, at the end of the day, this is a serious business, which could produce significant profits. So you're either all in or you're not.
If you have a vehicle that just sits in your garage for long stretches of time, you might find a car rental service like Turo is one of the easiest ways to make extra money. Let’s say you list your 2014 Nissan Maxima in Denver, CO. If you rent out your car for just 11 days a month, Turo says you could make around $385. That’s over $4,600 a year!(6)
Rentals, just like stocks, throw off cash. With rentals we call that cash “rent”, and with stocks we call it dividends. A significant difference however is that the S&P 500 has appreciated at ~6% per year (above inflation) for the last 100 years…..Real Estate has had almost 0 growth above inflation. So are rents higher than dividends? Maybe, maybe not. But unless you got one heck of a deal, the delta in rent over dividends will have a very tough time making up for the 6% per year difference in appreciation.
Good ranking FS, I’d have to agree with the rankings. And it looks like your portfolio covers five of the six! Some people consider real estate passive will others classify it as active. But every scenario is different, whether you are doing all the maintenance and managing yourself, or you are contracting out a lot of the work. Obviously it takes a lot more time and effort than purchasing a 36 month CD and “setting it and forgetting it.”
I’ve been following your blog for a year or so now and have been trying out all of your suggestions in each of your new-blogger related articles. I’m having trouble figuring out how to get my blog name out there, do you have any suggestions on how to figure out your niche and how to get your content out to them without forcing it down their throats? I want my blog to be naturally integrated and have tried to be patient this last year but waiting doesn’t seem very smart.. any advice would be great. Thank you
Find work. When you first start out, you may have to accept work writing about a topic you don’t find all that interesting. You must keep an open mind and be willing to accept work that may not be in your desired field. However, as you continue to write, you not only learn about more topics, but you also build your reputation. With time, you can be choosier about assignments you want to accept.
When creating a membership site, always offer different plans and pricing tiers to appeal to your different categories of audience. Access to specific types of content is then dependent on the plan selected by a member. Membership fees can be a one-off payment or a repeat subscription. And you can even sell products on your membership site to boost your income.
Medium is an online community where anyone can post articles and essays and get them in front of their audience of millions of monthly readers. While it can be a great place to build your audience for your own blog or find customers for your consulting business, with Medium’s new Partner Program, you can now make money online whenever someone reads your articles. Register for free and you can choose whether your articles are freely available or only readable by those people paying $5/month for a premium Medium membership. You’ll make money based on the amount of people who read and engage with your posts each month.
This isn’t to scare you off. I simply want you to know that this guide is going to focus solely on ways to make real, sustainable extra income online. Not just a few bucks. I want to share all the mistakes I've made that got me to where I am now so that you don’t have to go through them, and can build a successful online source of income for yourself.
If you have nothing of value to sell from home then retail arbitrage might be a better option for you. Many people partake in arbitrage to earn a little extra money, and for some, it has even become their full-time job. Retail arbitrage is the buying of goods at a low price and then selling them on a different platform at a higher price. Sales in shops provide ideal opportunities to pick up products for next to nothing. These can then be sold on eBay or Amazon for higher amounts, making you a nice profit.
This is probably my favorite opportunity on this list because it’s really easy to get started and easy to make your first dollar. Amazon has an affiliate program that allows anyone to sign up for an account and then earn a commission if someone buys something from Amazon using the special link they give you. Usually, you’ll earn 8% of the cost of the item on Amazon but that depends on the category the item is in.
Writing an e-book is very popular among bloggers, as many have noted that “it's just a bunch of blog posts put together!” You will not only have to make an investment of time and energy to create the e-book, but market it correctly. However, if marketed correctly (through blogging affiliates in your niche, for example), you could have residual sales that last a very long time.
You might think you need to launch the next Facebook or Uber to make money with a small business, but nothing could be further from the truth. The trick to launching a profitable new business is to figure out how you can make money doing something you enjoy or have some experience or expertise with. Make lists of things you enjoy doing, and start thinking about how you could make money from them. Read about what you need to know to turn a hobby into a business here.
A website called AchieveMint gives you points for engaging in healthy activities, like exercise, tracking your eating habits, or even taking health related surveys. Points can be redeemed either for cash (10,000 points are worth $10) or for Amazon Gift Cards. The app actually connects with other health apps, like Fitbit and MyFitnessPal, to track your progress.
Once you have that problem or need nailed, the next step is to validate that idea and make sure you’ve actually got customers who will pay for it. This means building a minimum viable product, getting objective feedback from real customers, incorporating updates, testing the market for demand, and getting pricing feedback to ensure there’s enough of a margin between your costs and what consumers are willing to pay.
Find an audience for your passion or hobby and you’re all set to make money online doing something you love via a niche website. That of course, is easier said than done. Creating a profitable niche website takes time and is not intended for the faint of heart. But, if you can hurdle the steep challenges and positively answer a few key questions on whether the website business idea you’re thinking about is profitable, then you can begin building it and eventually monetize through advertising, affiliates, or other relevant products.
Rent out a parking spot. If you live in a busy or congested area and have parking to spare, you might be able to rent out your parking space for some quick cash when you’re not using it. Simply advertise your open parking space online including details on the location, whether it’s covered or uncovered, and your desired hourly, weekly, or monthly fee. If you want, you can even use a site like Just Park or download the Spot App to reach more potential customers.
If you have a spare bedroom, you can find a roommate or list the space on AirBnB for travelers. Having a roommate is the more passive of the two, as being an Airbnb host will require more work in the form of turning over the room between stays. This is a super painless way to earn $500 to $1,000 a month without much effort – you may even be able to cover your mortgage payment with this extra income!
Sell plasma. After passing an initial screening, you can usually sell your plasma for anywhere from $25 to $50 per donation. To qualify, you’ll have to stand in a long line or show up early, be willing to fill out a very personal questionnaire, and endure a painful needle prick or two. Still, selling plasma is a great way to raise money fast – if you can stand the hassle.
Hi Logan, thanks for perfect article on passive income theme! I am a newbie in this passive income thing but everything I read here seems obvious to me. Why not create a passive income, right? So I started googling about making passive income via internet because I like things connected to the web and I think that this will be a huge thing (it already is) and I found this article which seems that is probably very new but in the ebook there are great informations about passive income, at least in my POV (newbie POV). Is this a legit website or can it actually work? I want to expand on that because my 9 – 5 s*cks… Here is the URL: https://cashwithoutjob.online
My 10-year-old son brought home a book from our park’s free library box. It was a biology textbook – teachers edition. He said it looked interesting and hey, it was free (having no idea you could sell it). I scanned it in my Amazon seller app and realized it was worth around $150. He was so excited. We listed it for sale for $130 and it sold! Going to tell him, he just made $130!
Peer-to-Peer Lending: Earn up to 10% in returns by lending individuals, organizations and small companies who don't qualify for traditional financing through peer-to-peer lending platforms like Lending Club. You can lend $100, $1,000, or more to borrowers who meet lending platform financial standards. Like a bank, you'll earn interest on the loan - often at higher returns than banks usually get.
Are you a professional in a field that can help answer questions for people looking for your expertise? Websites like JustAnswer and LivePerson match you up with people looking for answers to technical or professional questions. You can make money online by simply answering these questions and providing the right information to people based on their individualistic circumstances.
If you’ve got expertise in a certain area, package up your knowledge into an online course and sell it. This has become a very popular business model for online entrepreneurs over the past several years. The two big websites that are used to sell online courses are Udemy and Teachable. Check out this awesome article by Regina on How to Create an Online Course that Sells.
From caterers to bands to florists, saying “I do” is big business. And now there’s a new niche in the $58 billion wedding industry that could score you a little dough. Bridesmaid for Hire provides professional services for brides. While some of the tasks involve helping out on the big day (or even standing with the wedding party as an actual bridesmaid), many responsibilities are handled remotely via emails and social media.
Once you’ve gathered a list, put together a template outreach email (as you’ll be doing this over and over) that’s short and clear with expectations. Tell your potential interviewee who you are, what your podcast is about, and what you’re asking of them. Do a few test interviews with friends and family to make sure everything is being recorded at the quality you want and then book your first episode.
Great job, note the home upsizing works only in appreciating housing markets (I’ve done a similar this in CA but it was 7 years same home to gain almost 500k profit which is around the govt cap for tax-free home profits. What a gift! Thanks booming economy and generous govt taxation on home profits). Those proceeds bought our next house cash and invested the remainder in domestic stock (which has been equally profitable).
26. Services – You can offer a paid service, such as life coaching, blog coaching, goal setting or financial planning. Just be sure to investigate all the legal implications and make sure you’re not claiming to be a professional if you’re not one. With a service like this, you’re basically using your blog to sell yourself. You’ll need to convince people that you’re worth buying and then be able to back up your claims once they purchase your service.
In today’s world, everyone is looking for data. Companies are spending a fortune to learn what things matter to consumers and what things don’t. The benefits of this “big data” enlightenment are numerous. Companies can now design products that meet your needs better than ever before. Hotel chains are designing hotels with your preferences in mind so you don’t have to pay for features you don’t care about. One big benefit for you is that research companies are dying to know what you think, and they’re wiling to pay you to find out.
After these tenants move out, I'm thinking of just keeping the rental empty with furniture. It sounds stupid to give up $4,200 a month, but I really hate dealing with the homeowner association, move-in/move-out rules, and maintenance issues. Given that the condo doesn't have a mortgage and I have to pay taxes on some of the rental income, I'm not giving up that much. The condo can be a place for my sister, parents, or in-laws to crash when they want to stay in SF for longer than a week or two.
Online business is how I’ve made a living since 2003 and what has helped me retire early. I make over $40,000 a month through my blog. You can create your own blog here with my easy 15-minute step-by-step tutorial. You can start a blog for as little as $2.95 a month (less than a cup of coffee!). Create a blog and leverage it into affiliate sales or product endorsement deals. Consider topics like:
If you want to clear some space out in your house and have a big stack of books you’ve been holding onto for too long, you can make money selling your books and textbooks online. Stores like Half Priced Books and others will give you cents on the dollar for each of your current books while you can check what your book is worth by simply entering the ISBN number on Book Scouter.
Take it seriously. Yes, you’re applying for an online job. Yes, you can do the work in your underwear, but that doesn’t mean it’s not a “real job”. You must treat it as such or they aren’t going to treat you as a serious candidate. You aren’t the only one who wants to work in their underwear. In fact, the competition online is likely higher than it is in your local area.
Rent out a room on Airbnb. Living near a tourist area has its perks, including the prospect of renting out a room for a profit. With home sharing sites like Airbnb, you can rent out a room in your home – or even the entire place – for a day, a week, or longer. If you have extra space and might enjoy the company of travelers, renting out a room is great way to earn some extra money with little effort on your part. See our post, “How to Make Money as an AirBNB Host.”
No matter what method you choose to make money online, understand that you might be able to make some money fast, but for the sizable returns, you'll need significant sweat equity. However, a year from now, you'll be happy you started today. Remember, time is far more valuable than money. Focus on creating passive income streams that will free up your time so that you can quit the rat race and focus on the things that matter.