5 Easy Ways to Earn Passive Income
They say money doesn’t buy you happiness, but it does afford you the basic necessities and it can also fund your interests and wildest dreams. Though you may have a job that pays the bills, trying to find excess change to do things you enjoy or even to pay for unexpected expenses can prove difficult. With the cost of living continuing to rise across the country, it becomes evident that the most efficient solution is to find ways to earn more income.
Passive Income
The trouble sometimes with getting a part-time job or taking on a side hustle is that you don’t have the time to commit to it. When you work 8 hours a day and have responsibilities at home, taking on another job or hustle reduces the amount of time you have to enjoy the fruits of your labor. Fortunately, there are ways that you can earn money without having to do much at all. Passive income streams are methods for making money that doesn’t require daily activity or regular maintenance. Here are some suggestions on how to make money without investing too much of your time:
1. Affiliate Marketing
Affiliate marketing is the practice of helping companies to advertise their products or services online. While this will initially require you to create a website, set up referral links, and build a following, once you’ve gotten past the groundwork you can set your campaign on autopilot and continue earning money. The idea is that every time a customer either purchases a product or clicks on your referral link, you’ll be paid a commission. You can find resources such as affiliate marketing for dummies to help you find the best methods to draw the most attention to your posts. Signing up for affiliate programs with several companies obviously gives you more passive income each month.
2. Answer Surveys
Your opinion matters. You can get paid to provide your opinion on products, services, and subject matters that are most important to you. By signing up through survey sites, you can answer questions about everything from grocery items to political topics and more. The more surveys you answer the more money you can make each month. Since there is no set schedule to this, you could essentially answer surveys in your spare time and earn a few extra bucks each month.
3. Create YouTube Videos
YouTube is quickly becoming a social media outlet for earning money. Users can create online videos and earn money. Whether you are great with DIY projects, makeup, or you love riding motorcycles, you can make some passive income by recording it and posting it to YouTube. While you won’t earn money for viewers watching your videos, you can attach paid ads to it from Google AdSense. Now, every time one of your followers clicks on the advertisement, you get paid. Add a few popular videos with attractive advertisements and you could be making a considerable amount of money from each source.
4. Create an Online Course
You know all the ways you’ve been making money online? You can actually create a course and teach others how to do it too! What’s great about creating online courses is that you can make money in your sleep. Create a compelling course complete with slideshows, videos, and guides and then price it competitively. Through careful advertisement you can draw audiences to your new course and make money without lifting a finger.
5. Take Advantage of Cash Back Offers
Another easy way to make some passive income is to take advantage of cash back offers. From sites like Ebates that offer you cash back on all of your spending to your credit cards, there are plenty of programs that will give you cash for every dollar that you spend. By participating in this program you could get a lot of your money back without doing anything other than what you do regularly – shopping.
Part-time jobs and side hustles are great ways to earn extra money, when you have the time. If you’re short on cash and don’t have much more time to dedicate, passive streams of income could be the best solution. While most of these require some initial setup and effort, they all allow you to earn money 24/7 with little to no maintenance.
