How to create passive income
Who wants extra money without having to work hard for it? Umm, yes, please.
What if you could just make some extra cash consistently without too much effort on your part? Sounds good right? This will get you to your goals faster and allow you to focus on living your best life.
The catch is you are going to have to spend some time initially setting things up. A bit of upfront financial commitment may also be required (for education, down payments, and material costs etc). But in the long run you'll be glad you started!
How to get passive income:
1. Create a product and sell it.
But what? Figure out what you are passionate about and love to do yourself and get brainstorming. Are you talented at drawing? Sell coloring books on Etsy! Love writing, create an E-Book. Have some knowledge of how to build a company? Create a course with valuable information and sell it. The list can continue on and on. The point is to find something you're good at and market that skill.
2. Rent things out!
It can be a room in your home or the entire house when you are away on vacation! Rent out your garage or a parking spot. Provide storage space. Rent your tools out. Rent out your trailer. Rent our your bike, skis or scooter. Whatever you can!
3. Advertise on your car.
Yes, I’m serious. Having a car ad costs you nothing but makes you a few extra dollars, so why not?
4. Buy a rental property. This is a tricky one but can make you a couple of additional dollars a month if it’s in good shape and you have great tenants.
5. Dividend stocks.
Get paybacks when you invest.
6. Affiliate sales.
You make money if someone clicks on a link you have on any social platform.
7. Pet sit, house sit, babysit.
Taking care of something is pretty easy and doesn’t require too much effort.
8. Become a silent partner in someone’s business.
Find someone you believe in and invest in them.
9. Purchase a billboard and rent it out.
Pretty straightforward. Bet you never thought of this one!
10. Sell stock photos
Good at taking photo’s? Great - sell some.
11. Start a you-tube channel, podcast, blog or become an influencer.
Start anything that makes you happy and pretty soon you will come up with a way to make some sales or extra cash.
13. Does your company offer stocks or match retirement contributions?
Ask!
14. Do some surveys
Get paid to give your opinion on things and even shopping.
Remember – by putting in a little bit of time for research, you can make things happen.
Good luck!
