Did you know that around 70% of Americans say that they are struggling financially?
When you have difficulty paying your bills, you can’t imagine earning money without having to work your socks off for it.
But, that’s exactly what a passive income is. You just need to know how to start earning dollars while you sleep.
Check out our beginner passive income strategies below. Let’s go!
1. Publish an E-Book
Independent writers can make a killing on Amazon by publishing e-books. You don’t need a publisher or a printer, you can just post your e-book online yourself.
They say that “everyone has a book in them” – so why don’t you make your idea for a book come true?
If you have any professional expertise or specialist knowledge, then you could write down your ideas and experience in an e-book.
Once you publish online, you never have to think about the book ever again. That is until you receive the regular paychecks into your bank account.
2. Invest in Real Estate to Rent
If you invest in a property to rent, you can quickly make your investment worthwhile. You may have to keep managing the property and getting reliable tenants. But, other than this, it’s passive income.
If you don’t even want to deal with anything to do with the property, you can always hire a property manager to do everything on your behalf.
Do you have a poor credit score? Don’t allow this to stop you from investing in real estate either. There are many methods for real estate investing with bad credit.
3. Rent Out a Spare Room
There is around $6 billion wasted every year from America’s spare bedrooms. If you have a spare bedroom in your home, you could consider renting it out.
There are a number of ways to make money from your spare room. This could include posting an ad on Airbnb or another similar website.
When you start getting online reviews that promote your spare room for you, all you need to do is wash the bedsheets after they check out.
This is a really simple and quick way to earn a little cash on the side of your day job with only a small amount of effort.
4. Set Up an Online Course
What do you have to teach the world?
Everyone knows a lot about something. Maybe you’ve brought up a bunch of amazing kids by yourself or spent years doing DIY at home.
Whatever knowledge you have, you shouldn’t be surprised at the number of people who are willing to pay you for the knowledge.
Once you have put together an e-course, your part is done. Just allow people to discover your fantastic course for themselves.
5. Write a Blog Post
Don’t mistake writing a blog for easy work. It could take a significant part of your time to really set up your blog.
However, if you already spend hours writing down your thoughts in a journal or sharing your opinions on social media, what’s the difference?
You could merely continue with what you’re doing anyway. But, this way you won’t be doing it for free.
It’s possible to make a lot of cash with affiliate marketing. If you have a huge audience, advertisers will be eager to use your platform.
6. Be a Silent Partner in a Business
If you’re a business owner, you don’t need to do everything yourself. You can simply reap the benefits of owning your own business without any of the work.
Just produce the capital and collaborate with someone else to run everything for you. This is a great way to gain profits from the business without the day-to-day running.
However, make sure you’re careful about who you go into business with. You don’t want to lose your investment within a few months because of your lousy partner.
7. Invest in Stocks and Shares
Over 47% of Americans don’t invest a cent of their money. Investing your money in stocks and shares is one of the best ways to earn money passively.
Keep throwing money into your investment account to get the rewards over time.
Of course, there are always risks when you invest your money. However, all the signs are that over time, you’ll enjoy the financial benefits.
8. Enjoy Cash-Back Rewards
About 55% of Americans have credit card debt. And yet, few Americans take advantage of cash-back rewards.
Instead of just buying things on credit constantly, make sure you’re getting the cashback rewards as well.
There are some breathtaking deals out there. Every time you buy anything, you need to be thinking about the potential rewards.
This can range from just 1% of the price to a whopping 5% of the cost. You may even be able to collect points over time that could give you freebies eventually.
9. Start a Podcast
Around one-third of Americans listen to podcasts around once-per-month.
Do you enjoy spending your time chatting to friends on the phone? Do you organize zoom meetings to talk about your favorite hobbies?
Simply hit the record button and you’ve got yourself a podcast.
Got enough listeners to your hilarious conversations with friends? Get a company to advertise at the start of your podcast to promote their brand on your podcast.
This is a great little earner!
10. Sell Your Photos
Are you an enthusiastic photographer? People are always trying to improve their social media or brand image with awesome and unique pictures.
But, not everyone has the skills and tech to produce photos like you. You could use your hobby to make money on a side-hustle.
Just put your photos on your website and see if anyone’s interested in giving you money to use your exceptional images.
Tips for Beginner Passive Income Strategies
Are you sick of working your 9 to 5 job? There are many ways of earning cash without having to work as hard.
Our beginner passive income strategies show that you don’t have to be a genius to earn money on the side. Test out our ideas yourself!
Do you want more money tips? Learn more on our blog!
