Most people believe that earning a passive income means financial liberation. While having more money to spare or save for the long term is advisable, starting such a project requires a lot of effort because, regardless of its “inactivity,” passive income still involves a certain amount of investment and time.
For example, investing in cryptocurrencies is considered a great way to make money in the long term through minimal investment and effort. However, to be a successful investor and reap what you sow, you must invest time in checking the market index and investor sentiment to plan your next move. Considering that most crypto coins are also volatile, every asset can flop or boom in a short time, whether it’s Bitcoin value or the Ethereum price.
Still, this aspect should not discourage you, as everyone can earn passive income with little research and time. Here are our best ideas on how you can increase your wealth.
Rent your useful items
You might notice that sometimes you need a certain item to complete a task at home, but since you don’t use it often, there’s no need to buy it and store it elsewhere around the house. For instance, one of your house redesigning projects might require you to use a band saw, but it’s too expensive for only one use.
Many people relate to these situations, and you can help them by renting your items. Whether you have construction tools, outdoor gear or even party equipment, be sure somebody will need them, so why not rent them?
You can rent them by day or for a certain period, benefiting the buyer since they’ll pay less. You’ll also earn more money as you become known for being a trustworthy renter and can leverage the items’ value.
Get into affiliate marketing
The best thing about the internet is that it recommends useful or potentially helpful items to buy for you and other people. At times, these products come with descriptions and reviews that help the future buyer form an opinion and make a better decision about their purchase.
Through affiliate marketing, you suggest people online products and services to buy and offer a link for purchasing. Every time someone uses your link for the purchase, you win a small but considerable commission, which is considerably easy and low-risk.
You only need a laptop and a good internet connection to contact brands. However, this will take some time because you’ll also have to be convincing about your recommendations.
Sell your photography online for stock websites
If photography is your passion but you don’t feel like you’re ready to work for reputable companies yet, you may start gaining some experience and earning valuable money by selling photos to stock image websites that offer them for free or require payment from regular users.
These websites usually prefer high-quality photos, so it’s best to have a decent camera or at least good Photoshop skills. Stock businesses also have specific image requirements regarding pixel width, image size, or attribute, so make sure you read and follow these guidelines.
You should specialize in images for website backgrounds, banners, blogs and logos because they’re the most required by other businesses.
Play games for your YouTube channel
Numerous people on the planet play online or offline games daily, and their popularity has increased considerably in the past decade. PewDiePie, Markiplier, and Jacksepticeye are some of the biggest names in the industry, and they all started out of passion for games.
While they’ve been public for so many years, you could avoid the attention on your personal life. There are many gamers who don’t show their faces, for example, and are pretty famous. Dream, H2ODelirious and SwaggerSouls are some of the best faceless gamers and are appreciated for their gaming skills and funny commentaries.
You only need a reliable laptop or a computer, and you can play free games at first to create an audience. After some time, you might have the resources to play the latest games that cost money.
Be the voice for audiobooks and videos
If you’ve heard people complimenting your voice or you have an appeal for reading out loud, you can capitalize on these features and record your voice for audiobooks or videos on the internet. Kurzgesagt – In a Nutshell is an educative YouTube channel with clips voiced by one of the calmest and clearest voices you’ve ever heard, so it can act as an example for you.
You can also listen to audiobook narrators and learn their techniques, such as Jessie Buckley, who narrated Long Island by Colm Tóibín, or Stephen Fry for The Hitchhiker’s Guide to the Galaxy by Douglas Adams.
This job requires you to invest some time and practice reading out loud, do some training and rent or buy the necessary equipment.
Create and sell unique designs online
Artistic people could make easy money by selling their designs online, as they’re considerably helpful for websites, presentations and projects. Digital designs can be anything from logos, templates and illustrations, so you’ve got a varied array of products to create and sell.
While taking inspiration from what’s already on the market will help you know what to focus on, it’s best to develop and maintain a unique style and approach towards your designs and clients. What’s best is that you can continuously perfect your technique due to all the courses and materials online, so your work won’t become obsolete. You could also use tools from websites that sell images, such as Canva, which offers you everything you need as a beginner.
What do you think about these ideas?
Earning passive income is a great way to gather some money for unexpected events or wanted items. Luckily, you can do this from the comfort of your own house since most passive income jobs can be done with a laptop, whether you record audiobooks or create digital designs. However, you could also rent your items or play games on YouTube.
Lynn Martelli is an editor at Readability. She received her MFA in Creative Writing from Antioch University and has worked as an editor for over 10 years. Lynn has edited a wide variety of books, including fiction, non-fiction, memoirs, and more. In her free time, Lynn enjoys reading, writing, and spending time with her family and friends.
