13 Methods to Earn Passive Income and Get Paid from Home
How to Make Money Online – 13 Methods
Lack of employment, pay that cannot compare to modern demands for those who are lucky enough to have jobs, and hard economic times have made earning the extra dollar a necessity. With the internet actualizing a flurry of possibilities delivered with convenience, earning extra income has become all the more possible. Here are 13 convenient methods of earning passive income online.
Invest in securities
Securities are as safe and as passive as it gets and in most cases, you can join and track your earnings online. The minimum investment amount has been on a downward trend which has made it easy to join in. The downside is the low-interest rate which generally ranges between 1 and 2 percent. Hence, as it is with most passive investments, do not expect a quick return on investment.
Join a lending club
Lending clubs are online communities where people pool resources and lend to credible persons at interest. The interest rates are quite appealing at 10%, but there is a high risk of loan defaulters since it is a peer-to-peer arrangement. The trick lies in diversification whereby you invest small amounts in many loans. The entry cap is also low – often, less than $50.
Robo-advisors
Robo-advisors present the power of computing beneficially applied to investing. All you have to do is allot a principal amount, and an algorithm will predict market trends, balance your portfolio and ensure you reap maximum benefits. Joining is easy, and management fees are very accommodating. This field is still quite young with few players.
Savings accounts
Some financial institutions are peddling very lucrative rates on savings. While this is among the oldest investment maneuvers in the book, it is no less effective when it comes to earning money with minimal input. The convenience of tracking and transacting online makes this option more appealing.
Start a blog
You can start a blog on any topic and source for content on online mills inexpensively, almost at throwaway prices. Your major responsibility will be optimizing the blog and reviewing the content to make sure it suits your needs. After cultivating a following, you can them sell advertising space.
Sell photos and eBooks
If you are good at photography and writing, you can develop material and post it cost-free on various online forums that can market on your behalf. In this manner, you can earn passive income from your content for a long time to come. You can also negotiate affiliate and royalty arrangements.
Be a marketer
Look for products you can easily sell. Fancy, fashionable products often make the best bet. After implementing befitting marketing systems such as social pages, or even a website, contract a manager to take over, and you will earn passive income with minimal output.
Join the real estate market
If you have disposable income, save and invest in a unit that you can then rent out. The income will not be entirely passive as you will have to maintain the property, but that is a small price to pay compared to the income a well-chosen property is likely to realize. Shop online for such units, and if lucky, you may even find a deal that will save you the hassle of maintenance at a small extra cost
Start an e-commerce store
Just like you could start a store in real life and employ people to handle day to day operations, you can do the same online. Cost of setting up shop, however, might be a deterring factor. If you take this approach, it is advisable that you remain hands on until the business is on its feet.
Index funds
Index funds are investment vehicles customized for those who want elevated passivity in the stock market. You only have to submit your principal amount and accept the terms. You can buy into index funds through online brokers such as E-Trade. However, it is upon you to do extensive research and invest in the right fund.
Make money through your hobbies
You can make money online for things you like doing for no pay such as playing video games, shopping, checking out spots, trying new foods and listening to music. Sites such as Inbox Dollars, Swagbucks, and others have reward systems that you can capitalize on to commercialize your hobbies. If you like making art, you can sell it on eBay and similar platforms.
Work with Uber
If you have a car, and you move around a lot, sign up with Uber and set up a custom schedule. During your solo trips, you can commercialize the unused car space and earn extra income. This is income that will not cost you anything as you would have had to still move around anyway; hence, the strategy qualifies as reasonably passive.
Credit card rewards
You have to spend your money at some point, and in this context, credit cards offer an excellent online as well as real life opportunity to earn extra on money you would have spent anyway. Some financial institutions give sizable signing on bonuses plus rewards for using certain amounts in three or six months. There are many other terms that if capitalized on, can earn points and cash-back rewards. The catch is that you have to be very disciplined.
As is evident, courtesy of the internet, there are many convenient ways of making passive income. All you have to do, therefore, is be open-minded and you will find an opportunity that suits your tastes and budget. In closing, always ensure you do due diligence before making financial commitments.
