This is a venture that is growing rapidly. You can create videos in just about any area that you like — music, tutorials, opinions, comedy, movie reviews — anything you want . . . then put them on YouTube. You can then attach Google AdSense to the videos, which will overlay your videos with automatic ads. When viewers click on those ads, you will earn money from AdSense.
If you can find and restore items like furniture and appliances, you can make a substantial amount of money. You can acquire the items on Craigslist, or even at garage sales or estate sales, restore them, and then list them for sale on the site. You may also be able to market certain items on eBay, particularly if they are small, unusual, but high in price.
This is one of my investments. It’s a very simple index fund. Took about 5 minutes to set up and it automatically withdraws from my bank account each month. Spend five minutes couponing and you’ll save a few bucks. Spend 5 minutes setting up an index fund and you’re likely to build substantial wealth over time if you invest consistently and don’t pull your money out with every little fluctuation in the market.
@dasjung Well the creative industry needs to get over it then. Makes them sound like a bunch of cry babies trying to make the world stop revolving. Everything is a scheme to make extra money. Including the work by the most serious, professional web designer. Every type of work has different levels of professionalism, and thank goodness we live in the U.S. where people are free to trade goods and services at the levels they deem appropriate. Free enterprise and liberty are beautiful words. I’m all for standards. I’m a CPA. But I’d never tell someone not to help people with taxes as a little side business. And that’s federal taxes! This is logo design. Logo design!My latest conversation: https://ptmoney.com/taking-time-off-work/
Software is one of the most lucrative passive income streams but most online entrepreneurs shy away from it, mainly because of the technical aspect that is involved. The truth is that you don't need programming skills to build a software; the whole process can be outsourced fairly easily. You do need to know how to pick a good developer and, of course, have a winning idea that customers are willing to pay for.
My favorite type of semi-passive income was rental property because it was a tangible asset that provided reliable income. As I grew older, my interest in rental property waned because I no longer had the patience and time to deal with maintenance issues and tenants. Online real estate became more attractive, along with tax-free municipal-bond income once rates started to rise.
Pro tip for first-timers: Carefully consider the pay rates that are listed. Penny Hoarder Carson Kohler has used the platform to find freelance writing gigs, and she reports low rates — like $3 for 500 written words. It’s probably not worth it. (And, yes, you’ll have to scroll through a whole lot of these low-paying listings to find the good ones.)
Another option that isn’t quite cash back but is along the same lines of “make money by saving money” — the Honey Chrome extension. Whenever you head to your cart to check out, Honey searches for online coupon codes or better deals from different retailers. That means no more wasted time Googling “[insert store name] coupon code” just to come up empty-handed. Honey does all the legwork for you!
3. Start as soon as possible. Building a livable passive-income stream takes a tremendously long time, largely because of declining interest rates since the late 1980s. Gone are the days of making a 5%-plus return on a short-term CD or savings account. Today, the best 12-month CD is at 2.5%, and the best money-market rate is about 1.85%, which is not bad, considering such rates were below 0.5% just a couple of years ago. Know that every $100 you save can generate at least $2.5 in passive income.
Use Swagbucks for your online searches. Swagbucks is something I don’t use as much, but I do occasionally earn Amazon gift cards with very little work. Swagbucks is just like using Google to do your online searches, except you get rewarded “Swagbucks” for the things you do through their website. Then, when you have enough Swagbucks, you can redeem them for cash, gift cards, and more. You’ll receive a free $5 bonus just for signing up today!
Amazon will have you work on micro-projects that require some sort of human interaction. Tasks can include translating a paragraph into English (or another language), rating the search results for certain keywords, or reworking an article. The tasks are simple, and you will be paid a small amount to complete each. But if you do enough tasks quickly, you can make a respectable amount of money.
stREITwise offers a hybrid investment between traditional REIT fund investing and the new crowdfunding. The fund is like a real estate investment trust in that it holds a collection of properties but more like crowdfunding in its management. The fund has paid a 10% annualized return since inception and is a great way to diversify your real estate exposure.
Being an online freelance writer is one type of skill that you can use to make money online. But there are a wide variety of other skills that can be used in a similar manner. Every website and blog on the Internet needs technical skills. This can include graphic design, web design, search engine optimization, social media marketing and promotion, content editing, and so much more.
Join a startup accelerator: Another great option is to apply to a startup accelerator like Y Combinator, 500 startups, or TechStars, where a group of investors will help coach you, connect you with potential partners, and provide startup cash in return for a small stake in your company. The competition is tough to get into these, so don’t rely on them as your only path forward.
If you’ve got some free time and don’t live in the middle of nowhere, becoming a Lyft driver can be a very lucrative side hustle that allows you make money fast. And right now, they’ve got a promotion going on where any new driver will instantly get a $300 bonus after completing their 100th ride. If you start now and hustle hard on the weekends, you can probably unlock that bonus within a few weeks of driving (and that’s in addition to your normal earnings).
I’m a 45 year old business owner who also has focussed on diversifying my income streams. I have a short term vacation rental in Florida that I bought for $390k in 2012 and net rental income for the last three years has been growing steadily. 2015 I am at $70k gross right now but should end up at $80-85k with net around $45k plus we use the place about 35 nights a year.
My returns are based on full cash purchase of the properties, as it is hard to compare the attractiveness of properties at different price ranges when only calculating down payment or properties that need very little rehab/updates. I did think about the scores assigned to each factor, but I believe tax deductions are a SIGNIFICANT factor when comparing passive income steams.
As an Instacart personal grocery shopper, you will actually be doing the grocery shopping yourself (so don’t crush anyone’s avocados!). Your compensation depends on several factors, like the average size of your orders and average number of miles driven per trip. You can also get tips in addition to the pay that comes directly from Instacart (most people report an average earnings rate of $15 per hour).
When describing whatever it is your promoting, share your experience! If you can throw in some data or graphs to go along with it, even better. Back when I was more actively writing about eHow, I promoted an ebook that I read which helped quadruple my earnings per article. I created a graph that showed how much I earned before I read the book versus how much I earned after. To this date, that ebook has been one of the most successful affiliate promotions I’ve done on this blog.
There’s an excellent chance that you have one or several musical instruments sitting in storage that haven’t been used in years. Perhaps it’s a leftover from when you were in school, or even from your days playing in a band. Whatever the reason that you have it, it’s probably worth money if you can sell it. Brand-new instruments are ridiculously expensive, so people often look to buy used equipment instead, particularly if they are novices.
Become a freelance writer or editor. If you have a passion for storytelling or a background in writing or editing, it’s possible to find freelance writing or editing work online. To search available job openings, check out sites like UpWork.com and Problogger.net. You can also check traditional job sites such as Indeed.com and enter “telecommute” or “anywhere” in the location field.
With Shopkick, there’s no purchase necessary to earn cash back. In order to make money with Shopkick, all you have to do is download the app, enable your location services, and start earning kicks. You’ll earn points just by walking into a store, and even more points for scanning items or making a purchase. Payout comes in the form of gift cards to your favorite stores, including Walmart, Target, Sephora, and Starbucks to name a few.
If it’s not clear yet, information and expertise are two of the most consistent and lucrative ways to make extra money online. If you don’t like talking on the phone, you can sign up to get paid to answer professional questions on JustAnswer. There are thousands of questions being asked every month from people looking for help from lawyers, doctors, mechanics, vets, and more. To apply, you’ll need to supply your professional verification, resume, and a form of identification.
Nobody gets early FI investing in bonds, CD’s, or even stocks unless they make a huge income or are extremely frugal or a combination of both. Paper assets just don’t provide enough returns. Business income can be great but it is typically not as semi-passive as I would like and there is a relatively high failure rate. That is if you can monetize an ideal to begin with. RE investing needs to be higher ranked IMO as a way that the “average guy” can become FI.
In my (unpopular) opinion, getting a raise is harder than getting a promotion. Think about it from your boss’s perspective, would you rather a) pay more money for the same service, or b) pay more money for additional responsibilities. Alas, if you feel you’re overdue a raise, check out Dr. Randall Hansen’s article on Getting the Raise You Deserve. There are some really useful strategies there.
That’s a nice read! I love your many tangible ways mentioned to make passive income unlike certain people trying to recruit others by mentioning network marketing and trying to get them to join up and sell products like Amway, Avon, Mary Kay, Cutco or 5Linx. People get sucked into wealth and profits and become influenced joiners from the use pressure tactics.
Survey Junkie is among the most straightforward survey sites out there, which puts them at the top of this list. All you have to do is sign up to be eligible for surveys. Once you complete a survey you earn a certain amount of points that you can exchange for cash paid directly to a PayPal account or you can redeem your points for gift cards. Super simple.
There are quite literally hundreds of clever ways to make money online. From taking online surveys, to renting or selling your old clothes, flipping your iPhone to someone in a different country, and even buying low-cost products locally, just to resell them for a higher price on Amazon. There’s truly no shortage of unique ways to make money online.