![]() ![]() When you invest, you use money you already have to make more money. People typically generate passive income in one of three main ways: They also require a degree of monitoring or regular maintenance to keep things on track, but they won’t require you to commit tens of hours a week or make small talk at the water cooler. Most passive income ideas require an initial investment of time, money or other resources. After you identify and establish a stream of passive income, you won’t need to tend to it every day-but that doesn’t mean you won’t have to do some work now and then. ![]() Passive income is money you can earn without too much ongoing effort. Finding the best sources of passive income may allow you to do just that. Then, reach out to brands with your media kit and pitch them on advertising on your social media, blog, newsletter, or podcast.Making money in your sleep is the ultimate dream for hands-off investors. If you're looking to get started doing this, put together a media kit that outlines your platforms and metrics. This generates close to $1,000 a month in passive income for my business. This is different from an affiliate model where you get paid based on how many people buy a product. I pick the brands I believe my audience will enjoy hearing from and get paid through a one-time fee. Every month, I sell ad space for people to market their businesses on my newsletter and podcast. Selling adsĪfter years of building my platform (social media followers and email subscribers), I decided to make passive income off the people who consume the content I create for my different businesses and brands. If you have a current business or brand, you can set this up by designing the item for free using Canva, and then hosting it on a website like Amazon Merch or Printful, where they take care of the details after the purchase is made. I don't have to think about making the product, putting it in the mail, or even handling refunds. I did this by selling print-on-demand merchandise.Īfter I designed hats and T-shirts and listed those items on my website, whenever a person went to buy an item, the print-on-demand store would print it and ship it to them. I decided to create a product for my business that would generate passive income and not require much of my time. They then pay monthly interest on these loans and I receive a share of those payments. Since I'm just getting started doing this, I'm using a website called PeerStreet, which lets you lend capital to people who are real estate borrowers. This is when you loan money to borrowers who might not qualify for traditional loans. Peer-to-peer lendingĪnother way I decided to diversify my investment portfolio and make passive income was through peer-to-peer lending. ![]() If you're interested in doing this, you can start with a small amount ($100 even) and do it through a platform like MainVest. While my monthly passive income from this route will pick up over time, it's allowed me to become an investor in businesses for the very first time. I decided to invest a small percent of my income every month in businesses that agree to share a percent of their future revenues until this investment is paid off. Investing in small businessesĪs a small business owner myself, I wanted to find a way to invest in other entrepreneurs and make passive income as their businesses begin to take off and see profit. All you do is shop through their portals, and when you buy an item from a store, you can get anywhere from 1% to 30% cash back. I also use cash-back websites, like Rakuten and TopCashBack, for online shopping. I usually find myself getting around $30 to $50 a month in cash back from using this card. ![]() I get unlimited 3% cash back on dining, entertainment, my streaming subscriptions, and at grocery stores. I decided to get a cash-back credit card to use for my everyday purchases. An easy way I've been making passive income lately is through cash-back credit cards and websites. ![]()
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