Are you an employee or retiree looking to own passive income streams online part time? If YES, here are 20 ideas on how to create passive income with no money. It is an established fact these days that one source of income is never enough to handle a person’s daily needs, including paying the plethora of bills that come in regularly every month.
Yes, you may have gotten a salary raise, but once the novelty of the raise wears off, you would still find yourself struggling to make the few dollars go around to the various needs that plague your everyday life, including the wants, and maybe a few treats when you can afford it.
Instead of living your life in a permanent state of unfulfilled needs, unreachable wants and thriftiness because your take home has refused to take you home, it is now time to start earning some income on the side.
What is Passive Income?
Passive income on its own means having to earn money without participating in the heavy lifting involved in business. Though it is called passive income, but you can’t earn money from anything legitimate by being totally non-participatory; as such, earning passive income involves some effort on your side which may be quite small and involving little or no cost, that is why it is called passive.
One thing to take note of when looking to set up a passive income stream is that if the passive income cost you some money, it would usually require less effort from you, like investing in shares, but if it cost you little or nothing, it would require that you invest more time and effort to make it work.
What Do You Stand to Gain from Creating Passive Income?
This is just like asking what you stand to gain from having extra money. The first thing you gain if most of your finance is from passive income sources is time flexibility. Because you are not tied down to a work place or a work schedule, you are free to plan your time the way you want it to suit your other needs.
Since you don’t have to be where the business is run, you are free to take care of other issues and even set up other passive income sources. Active income gets to decide the time you eat, sleep, play, take a holiday, spend your money, and it even decides your life; but this is not the same with passive income as you have the free time to plan your life to suit you.
Secondly, passive income guarantees financial security. Granted, to set up a pool of passive income that would guarantee you steady earning might prove a herculean task, but once the mechanics are set in motion, the income trickling in from the various sources can be enough to put you out of poverty.
Think of those fancy holidays that those little earnings over a period of time can make possible, or think of that investment it can help you facilitate. What of those times you get sick and are not able to work? Passive income helps you to expand your profit base no matter where you are or how indisposed you are.
20 ideas on How to Create Passive Income With No Money
Ideas on how to create passive income abound, but seeking to create passive income without investing an iota of cash might be a little tricky. That notwithstanding, here are a few ways you can earn passive income if you are having no money at hand.
1. Carry a car advert
Do you already have a car and you drive around town a lot? You could use your car as a mobile billboard and get paid for it. This is a great passive income earner and you get to operate it at no additional cost to you. You can earn up to $100 in a month on a platform like Carvertise. If you are a taxi driver or you run Uber rides, this method would be great for you.
2. Rent away
Most times we have stuff that just sit at home idling away and gathering dust. Know that you can rent out these stuffs to people who need it and earn good money at no extra cost to you.
3. Trade your photographs
You can sell your photographs to make money. How it works; just take a photograph of a scenic and beautiful spot and upload them to sites that put the photographs up for sale. Sites like foap pay about $5 per purchase. Think of the outcome if you have lot of photographs with many people buying them. The best is that you get to earn without spending a dime.
4. Lease the extra space
Do you have an extra room in your house that is basically empty? Then it is time to lease it out or give it up for rent to earn a little extra income. This would come at no extra cost to you as you could take in tourists and make a little extra cash during the holiday season.
5. Craft greeting cards
A lot of people love unique cards, and as such would pay you to design it for them. Companies that need large quantities can pay you a tidy sum for them. The only drawback to this method is that you have to do the leg work in order to advertise your art. Alternatively, you can sell them online. You can upload your cards to a platform that would help you sell the cards, and depending on the arrangement, you can get 5percent or more once somebody buys the card.
6. Volunteer for Uber or similar e-hailing taxi service
If you are already a driver, you can make money with no additional cost by registering your vehicle with an e-hailing taxi service. The good thing about the e-hailing taxi service is that you get to set your own schedule as it would please you.
7. Leverage on everyday task
We search the web almost every day. In the same way, we shop online, play games and do other things online during our free time. Why not subscribe to an online service that would allow you to earn money while performing these random everyday tasks? Sites like InboxDollars and Swagbucks are perfect for these kinds of earnings.
8. Write and eBook
If you are a prolific writer, you can write an eBook on any subject of your choice and sell the eBook on your website. If you don’t have the required followership, you could offer to schedule an affiliate arrangement with other websites that offer content similar to yours. Writing and selling your eBook can provide you with passive income for years.
9. Make YouTube videos
You can make videos in just about any area of life and upload them on YouTube. After you upload them, you need to attach Google AdSense to them so that anytime a viewer gets to click the adverts attached to the videos; you get paid by Google AdSense. You need not have the whole shebang needed to make a video like camera, stand, lighting etc. a good phone with great specs would serve you just fine.
10. Open a blog
It costs nothing to open a blog. You can open a blog dedicated to a certain niche, and go ahead to post very interesting and compelling write ups that would attract readership to it. If your blog is optimized with Google AdSense, you get to make money when your readers click the adverts.
The key here is to publicize your blog through the social media because the more readers you have, the more the chances of you earning. Your blog can be a source of passive income that can yield for years, though this would require a lot of your time because you need to always work on your blog.
11. Write a book
This is almost akin to writing an eBook because you get to expend as much effort in writing your book. When you are done, and if your book is good, you can sell it to a reliable publisher and get to earn royalties. The royalties can be quite substantial if your book becomes a best seller.
12. Sell products through your website
You can set up a website where you get to sell other peoples products and earn a commission. Sites like BigCommerce can make this quite easy for you.
13. Join a referral program
Sometimes, startup companies offer a bonus to people who refer clients to them. Are they any businesses you use their services on a regular basis? You could contact them and find out if they give such bonuses for referral. If they do, then refer your family, friends, colleagues, neighbours etc and earn a few dollars or free services for just doing passive marketing. If the company that you are currently working with offers such service, then take advantage of it.
14. Create an online course
If you are very versatile in a particular field, you can create a course in that field and sell it online. If you are capable, you can create loads of courses and put them up for sale. These courses can earn you a very tidy sum.
15. Eat out
If you are the type that loves to eat out, then you get the app that allows you to get some passive income while eating at certain restaurants. One of such apps is Seated. You get a gift code of $15 from Amazon, Uber or Starbucks every time you make a reservation.
16. Paid surveys
Some companies would pay you to complete surveys for them. You only need to sign up to sites that coordinate the surveys and complete them. Most surveys are quite small and would only require minutes to complete. You get to earn some money depending on the number of surveys you complete.
17. Storage rental
Do you own an open space or a warehouse? You could rent it out to people to store their stuff for an agreed period of time. You can make money from the open land instead of allowing it lie fallow.
18. Selling antique on ebay
People tend to clean up their houses every few years and throw out the junk. Most of what people call junk are antiques that can fetch a lot money when refurbished or simply cleaned. You can collect these items and sell them on ebay to make a tidy sum at no cost to you.
19. Cash back credit cards
Some banks give you some percentage for every purchase you make with your credit card. In this way, you get rewarded for using your credit/debit card. Some people have been able to rack-up up to $1000 a year with this method.
20. Build an app
If you are a programmer, you can create and app and sell it on the app store in order to create residual income for yourself. Since you can create the app yourself, you do not need to spend any money before you can start earning from it. You would get paid once someone downloads the app.
In conclusion, passive income ideas you can start without adding any money of your own are plentiful. Just start investing in some of these ideas and you would find yourself stepping towards financial freedom.