It can be inconvenient to go out and hustle for hours in the job market when you need some extra cash. Instead, you can find ways to make money both online & offline. Here are 20 passive income ideas to make money while you sleep.
1. Sell Digital Products
Digital products include online courses, printables, software, etc. As long as you have a product that people want to buy from their smartphones or laptops, the options are endless.
You can sell them on online marketplaces such as Amazon, Etsy, and eBay to earn recurring income as long as they are selling.
2. Sell Vintage Clothing Online
Do you want to make some extra money by selling your old clothes? Then it’s time to purge your closet—and sell your vintage clothes.
You can easily set up a shop on social media and sell your clothes globally. And if it’s in high demand locally, you can turn it into a pop-up store.
3. Own Vending Machines
You can easily earn $50 to $100 per month by placing vending machines in high-traffic areas. Even though it appears to be a small sum, it is extra money.
Consider placing a large number of vending machines in congested areas; this will easily allow you to earn $1,000 per day.
4. Sell Stock Photos
You can take great photos if you have a decent camera and know how to edit them. If you already have these skills, why not use them to sell your photos?
Macro stock photography companies rely heavily on the internet for their images. Depending on the website, you can earn up to $300 per photo downloaded.
5. Invest in the Stock Market
In the stock market, you can earn passive income if you don’t mind taking risks with your money. If you have less than $1,000, you can start slowly, making investing less risky.
If the stock market intimidates you, you can learn the basics of investing online by taking courses on Coursera, Skillshare, or Udemy.
Related – How to Earn Six Figures (8 Best Ways)
6. Flip Websites
You can create an online store and sell it for a profit. However, you must ensure that your online store is good and consistently generates sales.
Then, to make money, you can list and sell them on Shopify’s Exchange Marketplace or other website-flipping platforms.
7. Rent Out Extra Space in Your Home
One more idea for aspiring landlords: Consider renting out unused space in your home. This method can be a great way to earn extra cash while building equity.
Of course, you’ll need to do your homework. Airbnb or any other online rental platform can help you find tenants.
8. Start a Blog
Starting your own blog is also a great way to generate passive income. You’ll need to register a domain name and set up hosting.
Related – How To Start A Blog And Make Money
9. Affiliate Marketing
Another low-effort way to earn passive income is through affiliate marketing.
To refresh your memory, an affiliate program is a type of advertising in which a company pays third-party publishers to generate leads and traffic.
Affiliates accomplish this by promoting the products of others via social media, blogs, YouTube, or email.
Related – Affiliate Marketing Tutorial For Beginners 2022
10. Become a Social Media Influencer
If you have a large online following, you can make money from sponsorship and advertising deals.
You can do this by starting a blog or a YouTube channel, and gaining followers on social media platforms such as Facebook, Twitter, and Instagram.
Once you have a strong following, you’ll receive a lot of deals to make passive income.
11. Publish an Ebook
Publishing your own ebook is an excellent way to earn passive income. This is a nice way to share your knowledge and expertise with the world while earning money.
You can also turn your ebook into an online course or publish your ebook on Amazon or other platforms to start making money.
12. Rent Out Your Car
Another excellent passive income idea is to rent your car through an app. It requires little effort but produces substantial results over time.
Renters can reserve their vehicles through apps such as Turo, and you can set your own rates. Renting out your parking space is another way to generate passive income in cities.
Related – 3 Ways to Get Paid to Advertise on Your Car
13. Create an Audio Track
If you enjoy music production, you can earn passive income by creating audio tracks. It can be a short audio clip or an entire track.
Some people are always looking for the right sound to brand themselves with. As a result, these are your potential buyers.
Your tracks can be licensed on platforms such as SoundCloud and Audiosocket.
Related – 12 Legit Ways to Get Paid to Listen to Music: $12 per Song
14. Use Referral Programs
You can also earn passive income by referring new members using money-making apps. All you have to do is promote the app with your referral link and invite new users to join.
These members will complete various tasks in the app, and you will receive a percentage of their earnings each month.
Swagbucks, InboxDollars, and InstaGC are a few great apps to try.
Related – 9 Simple Ways to Get Paid to Share Your Opinion
15. Start a YouTube Channel
Related – 7 Top Tips to Make Money on Youtube
16. Buy an ATM
You might not have considered turning an ATM into a source of passive income. An ATM can cost between $5,000 and $15,000 to purchase and install in your home or business.
But, before you do so, always check your local laws and license requirements before purchasing or renting an ATM.
Once everything has been completed, all that remains is to collect the money.
17. Drop Ship
This is another business model that requires little ongoing work from you. Dropshipping is when you partner with a supplier who ships products directly to your customers.
You can start a dropshipping business using the Amazon FBA program.
18. Cashback Rewards Cards
If you pay with a credit card, look for one that offers cashback.
Make sure the card you choose has no annual fee or you risk losing your rewards.
19. Start Your Own Podcast
You can also start your own podcast and earn passive income. You can discuss any topic, share your unique perspectives, and even sell advertising or digital products.
You can create your own podcast using an app like Anchor or a free service like SoundCloud or Spreaker.
20. Rent Out Your Garage
It is also a simple business model where you rent a garage or storage unit. Then you can collect monthly rent from tenants to earn passive income.
