Hey readers, does this ever happened to you that you really want to buy something but you lack money? If yes, then you are at the right place. Besides doing your mainstream job, there are many side hustles which you can do to make some extra money. Following are some best way which will help you to generate passive income.
Top 20 Ways To Generate Passive Income
- Invest Your Saving: What is better than the money which is making more money for you. It is one of the most popular and common ways to increase your wealth. Investing your money in the stock market can give you financial help in the long term and short term. But, the stock market goes hand in hand with risk. If you don’t have enough knowledge about it. Before investing in this risky platform, learn about how it works and how you can make the most from it.
- Start A Blog: This category can make you a lot of money if done right. Many people had made quite a good fortune from blogging. Just select the right niche you want to write a blog on and let the world know your thoughts. Putting ads on your blog will pay you.
- Drive With Uber/ Rent Out Your Car: Another way of earning passive income from your car is to rent your car; you could rent your car and get money for the rent duration. Companies like Uber needs a car to run their services, and you could rent your car and get some extra income.
- Become Landlord: Invest in real estate. Rent out the property and make a monthly fixed income by imposing the right amount. This way, you will generate a decent amount of money every month. This is the top way to generate passive income because many people already practice it.
- Freelancer: A freelancer is a self-employed person who works for himself rather than working for a company. A freelance worker has a skill that he uses to work for different companies by taking the contract and getting paid for the same after completion and submission of task.
- Sell Your Stuff/ Old Textbook: You can also make money by selling your old textbooks or your old stuff instead of giving it in the trash. Also, you can open a thrift shop, a shop selling second-hand clothes or household goods to make money out of it.
- Affiliate Marketing: It is one of the fastest-growing online businesses. In this, you earn commission every time you promote a company’s product and drive a sale. The commission varies typically around 60-70% of the original price of the product.
- Create An Online Course: Everything is available on the internet. So learn courses, read books on that particular course, make notes; club all these things and make your own paid course.
- Sell On Amazon: Buy decorative items for the home from a wholesale dealer and try selling them on amazon by increasing a reasonable amount. Try selling items which people can use to decorate their house and are also not expensive.
- Advertise On Social Media: Well, if you have decent digital marketing skills, you could use your skills to make a fortune for yourself. There are tons of small businesses who want to build brand awareness, but they didn’t have the skills, and here comes you with just the adequate skills that can help them, and in exchange, you’ll get paid for your work.
- Data Entry: This is one of the great ways for the people who want to work from home. This company pays you to enter data. But beware of fraudulent data entry-related jobs, as they are more common than you think and can be an emotional and financially negative experience.
- Place Ads On Your Car: Do you know that the car you just bought is a new way of earning an extra passive income for you, wondering how? Let me tell you, businesses near your area needs your car for running their ads, and you’ll get paid based on the number of miles you drive, and you could earn somewhere around 200$ – 650$.
- Make Festive Occasion Your Opportunity: Make every festive occasion your opportunity to make money. If it’s Diwali, sell crackers or lighting items; if it’s Christmas, sell decorative items.
- Donate Blood/Plasma: You can even earn money by just donating your plasma or blood. The amount of money that blood banks will pay you to vary from 20$ to 40$.
- Work Overtime: This trick can help you make some more bucks over your fixed income. Work for extra hours besides your working hours. You’ll be paid accordingly.
- Influencer: Nowadays, many people are paid by brands to endorse a product. It would be best if you had a big crowd to reach to be an Influencer. Influencers usually promote products by using them and posting the video of the same.
- Participate In Paid Research: This is one of the best ways you can kill your spare time. Companies do surveys that enhance the quality of their product. In return for that, they pay their participants. Many of the sites offer this opportunity; some of them are Survey Junkie, American consumer opinion, Plaza research, and many more.
- Launch Your Own YouTube Channel: Many people nowadays are making loads of money by just making a video on how they are spending their day. You can also start making videos for YouTube; whatever is the content be creative in what you do, and it’s a free platform, so try to gain max from it.
- Become A Tutor: Try teaching students in your neighborhood and get paid for it according to the hours you dedicate to them. A tutor can make a decent amount of money which can quickly help one to cover small expenditures.
Check out our other blog: How I Wasted My Parent’s Hard Earned Money
KEEP SMILING AND STAY ENERGETIC 🙂