17 WAYS TO MAKE PASSIVE INCOME NOW
Are you taking advantage of passive income? Build streams of wealth that could cover your family’s expensive with minimal effort! There are numerous ways to build passive income. You can optimize your earning by doubling up on some of the methods below.
BUT FIRST, WHAT IS PASSIVE INCOME?
Passive income is money you make repeatedly from work you only had to do once. How awesome does that sound?
There are many ways to start building these streams of income. Some riskier than others. But here is a list of the most legit ways to build passive income:
LEGIT WAYS TO BUILD PASSIVE INCOME
CROWDFUNDED REAL ESTATE
Real Estate use to be a tricky game. Those willing to look past the risk, upfront costs and time associated with real estate can potentially rake in some serious cash. But for most, it’s deemed an unsuitable investment.
However, with real estate crowdsourcing, investing in property has never been easier! The largest resource for crowdfunded real estate is Fundrise. They make investing in property accessible to everyone with a minimum investment of only 500$.
Fundrise maintains a level of integrity by letting you see the exact property your investing in.
GET REFUNDS FROM STORES
Paribus can make you money after you’ve spent it! Simply sign up for the app and Paribus will scan your email in search of receipts. As soon as the items prices reduces, Paribus helps get you your refund.
OPEN A HIGH YIELD SAVINGS ACCOUNT
Find a new bank that will reward you for being with them! Start earning money on your savings with a high yield account and compare bank fees. Even Financial is a search engine that find banks within your area- just enter your zip code and receive results within minutes.
SELL YOUR SHOPPING HISTORY
If you’re an Amazon shopper, consider selling your shopping history to ShopTracker. Instantly earn a 3$ gift card when you link ShopTracker to your Amazon account. Don’t worry! Your personal information is kept safe by Harris Insights and Analytics. Every month you have ShopTracker installed is another 3$ meaning you could make an extra 39$ this year.
BECOME A SOCIAL MEDIA MANAGER
Local businesses are now trying to leverage social media to connect to their customers. I personally know social media managers who have around five clients, each one paying around $1,000 to $2,000 a month. Get ahead of this market and start managing their social media accounts for cash. It’s not a 100% passive job but requires only minimal effort.
Liz Benny has a webinar: How To Become a Social Media Manager, Without Knowing Anything About Social Media if you want to know how.
Also check out my free guide: Make $300/day sending e-mails
START YOUR OWN BLOG
Blogging has become a great source for passive income! Creators can use advertising, affiliate marketing, email subscriptions, memberships, merchandise and more to make money through their blog.
Check out my guide on how to make six figures per year without SEO.
MAKE AN ONLINE COURSE
Start using Udemy to create and host your very own course. If you consider yourself an expert in a certain craft than spread your knowledge. It certainly pays!
MAX OUT ON CASH BACK REWARDS
Use your credit card to make purchases if you have a killer rewards program. Cash back rewards can go as high as 5%! Even a simple 1% cash back could lead up to 500$ in rewards each year. Make sure you compare credit cards to get the best offer available.
PASSIVE INCOME FROM AN APP
Download the Nielsen Computer and Mobile Panel App onto your phone or computer. For every eligible download you will receive 50$ and be entering to win a 10,000$ sweepstake.
PASSIVELY SAVE WITH AN APP
Trim is your Financial Manager. The app exists within Facebook Messenger and searches for ways to reduce your monthly expenses. Trim will negotiate your bills, file a claim, cancel a subscription and save you money.
FIND A BUSINESS IDEA AND LICENSE IT
If you have a knack for making things, consider licensing your inventions. You can collect royalties for every unit that sells without having to lift a finger again.
DOWNLOAD AN APP AND EARN CASH
Keep MobileXpressions installed for a week and receive a 5$ Amazon gift card. You can also earn cash, gift cards or prizes for keeping the app installed. MobileXpressions is operated by a market research company that monitors your online activity like web page history and usage time.
CASH IN ON IDLE ASSETS
You have idle assets you could be making money from right now. Rent your spare bedroom on Airbnb or list your unused parking spot on SpotHero.
LEARN TO INVEST
It’s time to start studying the stock market! Becoming a shareholder can be a very lucrative path. Companies will literally pay you just for owning stock! If you’re feeling hesitant and don’t know where to start check out Betterment. You can start investing for just 1$ and they’ll guide you along the way. Happy investing!
FREE TIME IS A GOLD MINE
Whatever you’re doing right now, you could be getting paid for. Don’t believe me? Just give Swagbucks a try and see how easy it is to make cash now. If compromising your free time for intense labor sounds like a drag, then stay in your pj’s and register for Swagbucks. Take surveys, watch videos and shop online to start receiving points. Then cash in those points for gift cards!
THINK ABOUT YOUR 401K
If your investing in an employee sponsored plan called a 401K, it’s time to take a serious look at your account. If you don’t know where to begin, check out Blooom! It’ll do a free diagnostic test on your account and provide helpful tips to improve your financial health.
AFFILIATE MARKETING FOR PASSIVE INCOME
Affiliate Marketing is the act of selling products or services to others and receiving a percentage of the sales. This method for making passive income has polarized within the past decade. Having a website to promote your products/services can boost your sales. And the longer your customer buys, the more money you’ll make.