11 Passive Income Ideas
Want to make more money, but feel like you don’t have the time or energy to take on more work? Here are some passive income ideas to consider:
Use a Rewards Credit Card
If you’re good about paying your credit card off each month, use a rewards card for all of your purchases. It’s an easy way to earn a few hundred dollars (or more) each year, simply by buying the things that you’d buy anyway. To maximize your earnings, choose a card with one of the highest cashback percentages.
Get Paid to Shop
Need to buy something online? Go through a site like MyPoints, Swagbucks or Ebates, and get a percentage of each purchase back, in the form of gift cards or a check.
Maximize Your Interest Earnings
Move your emergency fund and savings account to a bank that offers a high interest rate. If you won’t need the money for a while, consider sinking it into a Certificate of Deposit, which usually pays more.
Get Paid to Search
Use Bing or Swagbucks to do all of your web searches, and get paid for something you do every day.
Rent Your Stuff
Don’t let your things sit around when you aren’t using them. Rent out your home through Airbnb; rent out your car through RelayRides; rent everything else out through Rentything. Just make sure you understand the risks involved and have adequate insurance to cover your liability.
Own land? Sell some of the timber; then, replant it (or pay someone to replant it), so you can sell it again. Another option: grow Christmas trees. If you plant a variety that doesn’t require trimming; and set it up as a u-pick farm, you’ll have very little hands-on work.
Rent an Antique/Craft Booth
Like to buy antiques at thrift stores and yard sales? Have a crafty side? Then, rent out booth space in an antique mall or craft boutique. Once you fill your booth, it should be pretty easy to maintain.
Get Your Car Wrapped
Have an eye-catching car and spend lots of time on the road? Allow a business to wrap your car in advertisements, and earn a monthly income from your daily drive.
Invest in Stocks that Earn Dividends
Build a portfolio of stocks that pay dividends, and enjoy quarterly or annual checks from the companies you invest in.
Invest in Rental Property
Pick up an inexpensive property, and rent it out to generate a monthly income for yourself. If you don’t want to deal with screening renters and fixing problems, hire a property manager to do it for you.
Sell Your Ideas
Have lots of great ideas kicking around in your head? Turn them into an eBook, an app, an e-course or some other product that you can sell again and again. Once the initial work is done, you won’t have to do much more than collect your money.