5 passive income ideas to help you make extra cash

1. Take online surveys

Giving your opinion and taking part in market research can be an easy way to make money online. Some of the more popular survey sites include Survey JunkieSwagbucksOneOpinionOpinion Outpost and Ipsos iSay.

2. Start a blog

Blogs aren’t just for fun these days. They can be quite the moneymaker when done right. The key is to pick your niche, build your audience and then monetize the blog. Just remember: Building a following can take some time, so be patient.

You can do this through affiliate marketing, which earns you a commission when someone clicks a monetized link or buys a product that’s promoted on your blog. You could also try selling and displaying ads on your site. You can use a tool like Google Adsense to get started with the latter.

3. Sign up for a gig-working platform

There are several platforms designed for online gig work. For example, Amazon Mechanical Turk is a place you can take on small tasks for businesses across the globe. They might include moderating content, taking a survey or transcribing audio.

4. Start an online store

If you’re the creative type, you can start up an Etsy shop. Etsy sellers offer everything from jewelry and clothing to artwork, invitations, yard signs and more.

If that’s not your style, you can start a drop-shipping store. With this strategy, you essentially operate a storefront. When a customer makes an order, you order that product from a third party (typically a manufacturer, vendor, or wholesaler) and ship it directly to the customer. Shopify has a whole dropshipping walkthrough you can use to get started (and you can use their platform to create your store, too).

5. Start a YouTube channel

YouTube creators can make a lot of money, and it doesn’t necessarily require much expertise. You can create how-to or explainer videos on virtually any subject or go more personal and put yourself in the videos. You can interview subject matter experts, provide tips and tricks, or even just show yourself playing various video, mobile or board games.

  • Share this post

Leave a Comment