We’re all in the business of making more money no matter what job we’re in. There’s always something we can use extra money on, whether it’s saving up for a goal, further investing in your dreams, or paying off a huge debt. There are many ways you can earn extra money without getting another full time job. Here are 12 ways you can earn passive income:
- Cash rebates: There are sites like ebates where you can do your online shopping and earn some cash back on your purchases. While some see it as a discount, and ultimately it is, there’s something about getting a check or direct deposit to your account that makes you feel like you earned it. There are also debit and credit cards that offer similar rebates when you shop in specific categories. Ultimately, you have to spend money in order to get money, but it’s a great way to earn it without thinking.
- Writing: If you’re knowledgeable about anything in particular, you can earn money writing about it. There are many companies looking for freelance writers to produce copy for their website or blog, and they’re willing to pay for it. You also have an opportunity to make money from writing a book or ebook about something you’re passionate about. Selling a book is a great way to make passive income because after you write it once, it can continue to sell.
- Freelancing: Once you have a specialty, you open the opportunity of providing the service as a freelancer. Many people are looking for services without hiring someone full time. Ask around and see if anyone is looking for your services.
- Recycle: Going green is already a popular lifestyle, so why not capitalize from it? Collect your water bottles and soda cans and take them to your neighborhood recycling bin. If you collect enough, you’ll have some nice change in your pocket.
- Affiliate marketing: Many Internet marketers make their money online using affiliate marketing. Affiliate marketing is when people sell products or services for other organizations, and receive a commission for every sale. If you have a good set of products, this is a great idea.
- Consulting: if you’ve been or are in the job market, chances are you have a skill set. No matter what the skills are in, somebody needs your services without wanting to hire a full time employee. You can set your own hours and rate of pay too.
- Rental services: Some people have multiple real estate properties, and only live in one full time. Instead of letting it sit, find some suitable tenants and rent the place out. It’s the definition of passive income as all you have to do is find the right people and collect the money.
- Consignment shop: I don’t know about men but us ladies have a thing for shopping and sometimes we forget to get rid of the excess. Donating is always a great option but if you’re strapped for cash, finding your local consignment shop can make you some extra bucks on some old threads. Just remember that you won’t get back what you paid for it.
- Blogging: If setting up your own blog is terrifying, look for some staff writer positions on your favorite blogs. Writing is a great way to make income and prove that you know what you’re talking about.
- Investing: A little on the tricky side, investing is passive income at its finest. You can pick your poison regarding what you want to invest in: stocks, bonds, or even peer to peer lending.
- Selling items online: Many people have made a killing selling unused items on eBay or Amazon. In college, I sold old textbooks to students taking the same class the following semester, and made some decent money. Make sure to take lots of pictures and be as descriptive as possible.
- Participate in a focus group: Marketing focus groups take place to gather research on a variety of things; that’s how companies get their statistical information. If you fit the description and have the right availability, participating can pay you some decent cash.
Those methods aren’t for everybody but it can definitely put some extra dollars in your pocket for whatever the goal may be for you. There’s many other opportunities available for earning extra money without a full time gig. What are some of your ideas?
Briana Myricks is a 20 something freelance writer and blogger. Striving for financial independence as a newlywed, she blogs about young married life at 20 and Engaged.