Passive income ideas that you will love! Here are our top 5 ways to passively make money today. We have also added 5 passive money making ideas for women (men can also try these!). Passive income for women can be life-changing if they are working at home. What are the best forms of passive income? Unconventional passive income ideas to change your life!
Life can be so overwhelming right? We run multiple companies, websites and online businesses and sometimes it feels like there is not enough hours in the day! However, what if you could make money while you sleep? We are always looking for ways to passively make money while we snooze.
Would waking up to an extra $100, $1000, or even $10,000 deposited into your bank account make things easier for you? These unique passive income ideas have the potential to change your financial life.
This happens on a regular basis for us – thanks to the multiple unique passive income streams that we have set up. Last month we made $10,533 passively from a couple of websites we own and another $1,850 in passive income from our rental property.
This is in addition to our other online business income ($9,000+) that unfortunately is not yet passive. We want to introduce you to the idea of unconventional passive income in this article!
Want to start a profitable online business? Check these ideas out:
2. Teach English online to Chinese kids. Earn $20 per hour and work from anywhere. Read more about teaching English here.
3. Proofreading is well paid ($100 per hour!). Read more about starting a proofreading business here.
Disclosure: Please note that some of the links on this page are affiliate links. This means that we may earn a commission, at no cost to you, if you decide to make a purchase after clicking through the link. Please understand that we have experienced all of these companies, and we recommend them because they are helpful and useful, not because of the small commissions that we receive if you decide to buy something through our links. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals. Unconventional passive income can help you escape your job!
One easy way to make some fast money is by completing paid surveys.
Survey Junkie is a site that we personally use to make money taking short surveys. I promise you that it is not a scam!
They pay out $3 for every survey (they are short surveys!) that you complete.
Passive income for women – paid surveys from home!
They only send surveys that you qualify for so you never waste your time. We really love Survey Junkie and I am sure you will too when you start taking the surveys!
You can make $10+ per hour and get paid very quickly. While this is not passive, it is a good way to make some extra cash very quickly! It is also completely FREE to try.
We also love VIP Voice surveys because they pay extremely well for your opinions. If you need to make some quick cash, try out both Survey Junkie and VIP Voice surveys (they are both free and easy to sign-up for!). Be sure to confirm your email when you sign-up so that they can notify you of available paid surveys.
We hope these paid survey sites help you!
Why You Need Passive Income Sources
Passive income is essential if you want to get ahead financially. Why? Because we only have so many hours in the day – this sets a limit on your earning potential if you only engage in active income streams (e.g a job).
Most millionaires that are self-made, have at least 7 streams of income – usually passive sources, of course nobody can have 7 full-time jobs!
The best ways to passively make money
Before I show you some of the top passive income ideas, let me just clarify what I mean by passive income.
I think that calling it ‘passive’ can sometimes be a bit misleading. I prefer ‘recurring income’ as this is a more accurate term for it.
This is because work is still required to set up the passive income streams – the difference is that you do all the work upfront and then sit back and rake in the money! The different ways to passively make money ALL require effort, time and sometimes money.
I believe that the education system has failed most people – there is little to no mention of setting up recurring sources of income in school – 100% of the focus is on 9-5 jobs.
It is a sad state of affairs that has led to Americans living paycheck to paycheck and losing their freedom by being trapped in jobs that they hate. If people could just focus on the best forms of passive income they would become financially free.
Passive income can FREE you from the tyranny of the 9-5 job that society has conditioned you to accept. Finding unique passive income ideas can be quite hard though. In this article you will learn what our passive income sources are and how they could help you.
Passive Income Ideas – Our unique passive income ideas!
The best forms of unconventional passive income require some work up front but then they continue to generate money for years to come.
This entire blog is dedicated to passive income and how to set up various systems to become financially free. However, it is a journey which starts with a very simple concept – pay yourself first.
This means that before you start to set up these passive income streams it will really help to accumulate some extra cash to invest. Some of these ideas are free to start but some do require investments of your time and money.
So if you are living pay check to paycheck you will need to put in some hustling time to make a little extra money (check out these side hustles).
One easy way to make some fast money is by completing paid surveys – our favorite is called Survey Junkie because you can make $10 per hour and get paid very quickly.
There really is no escape from hard work! You either pay now or you will pay later, but you WILL pay! The secret that I have found to obtaining financial freedom is quite simple:
- Work hard to earn extra money
- Invest this money in passive income generating assets
- Repeat until rich.
But don’t worry, I have included many money generating and saving ideas below that you can start today to help with the extra money generation part.
Ready for my passive income ideas? These are all unique passive income ideas and income sources that we currently have. Lets get started!
1. Start a Blog and Monetize it. This is a life changer. It really it is!
Blogging is one of the best ways to passively make money – seriously!
Imagine you could build a website that sells a product for $5,000 where you do nothing else but post links to it on the site then sit back and customers from around the world click and buy this product.
You make $1,000 per sale and the entire world is your customer base. You make $2,000 – $20,000 per month from this ONE website alone and it is easy to replicate?
This describes our websites exactly! The first step is to start a website and set it up (here is my step-by-step tutorial) properly. If you are serious about financial freedom please do not put this off!
I promise you it will change your life forever. You can monetize your site by applying for ads where you get paid per click or impression. You can sell your own product or other people’s products (affiliate marketing).
It is the perfect business as the start-up costs are nearly zero and you can do it as a side hustle until it is generating enough income to move full-time.
Massive amounts of work are required upfront to build and grow your website but once it is built it becomes a perfect passive income source for you. If you are wondering how much money you can earn from one site, check out my review of Michelle Schroeder-Gardner – she makes over $100k per month from her blog. Her blogging course is one of the best that I have ever seen.
2. Buy an investment property. It is not as difficult or as expensive as it sounds. Here is exactly what we did to buy our first rental property. In 2015 we bought a 4 bedroom town house (town houses are cheaper than single family homes, but rent for similar amounts, giving you higher profit margins). Real estate can be one of the best income generating assets ideas.
Renting out rooms in your home is one of the best ways to passively make money. It is also the one that requires the least amount of work.
Mortgage rates are so low at the moment that it is the perfect time to buy a property. If you are buying a rental you are required to put a minimum of 20% down payment – this is to protect the mortgage company.
However, what we did is just put 5% down – this is allowed if you live in the house as your primary residence. We rented out the 3 other rooms for close to $1000 each (yes we had to live with some ‘characters’ but hey it is all about sacrifice!).
Our Mortgage was only $1400 per month so we were living for free and making a couple of thousand extra by doing this! This really helped boost our savings and allowed us to invest in some passive income generating websites. You can read more about how we were able to make some nice passive income from our house.
By living in the property for a year, we met the loan obligations while turning a liability into a cash generating asset. Pretty cool right? We still rent the house out but we don’t live there anymore.
Profit margins are lower because we pay a property management company to manage the property, but it is still very profitable and entirely passive. Here is my favorite book that I highly recommend if you are interested in real estate investing.
3. Get Paid to do NOTHING with Ebates – the last two passive income ideas above require a lot of effort upfront but they do have huge potential for massive earnings. Here is one that takes no more effort than signing-up for a company called Ebates.
Click the big green button below to sign-up!
Shop through Ebates links at your favorite online stores. Earn cash back on your purchases. Get your Big Fat Check or Paypal payment after you earn $10 cash back.
With Ebates, you are not doing any work or even anything differently but you make a few percent money back on your normal purchases – we recently bought a new laptop and got $55 just for buying it through Ebates!
Simple! Plus if you sign-up, you will also get a $10 bonus just for signing up – so you are already making money!
While you will not make as much as the previous two passive income ideas, you will save hundreds or thousands of dollars a year just by changing your habits a tiny bit!
4. Learn to Invest in Stocks – This one does require a bit of a learning curve but it can be VERY lucrative and a relatively passive way of generating income. The style of investing you want to look into is called Swing Trading where you buy a stock and hold it for a few days to a week or two.
I actively trade stocks and make decent money doing it – but I have spent many years perfecting my strategy and learning. I recommend that you check out this site for how to get started actively trading stocks. You can earn some great unconventional passive income from swing trading stocks.
There is a ton of free tutorial DVDs and great information to get started on that site (I should know, I own it :)). I love stock trading but it is more of a high risk, high reward income generator.
5. MyPoints – MyPoints is another shopping rewards site like Ebates. MyPoints also rewards people for just searching the internet as you do on a daily basis already – how is that for passive? Simply install the MyPoints search bar. Every time you search for something online you will earn points for it!
You can see that the really easy passive income ideas (Ebates and Mypoints) that require almost no work, also are the lowest potential earners. Don’t underestimate how much you can accumulate over time though by using these sites. Studies have shown that people tend to over-estimate what they can do in a short time period and underestimate what they can accomplish over the long-term. One of the best unconventional passive income ideas.
5 passive money making ideas for women – bonus section!
Ok, I admit it that these are not just 5 passive money-making ideas for women – men can do these as well. Women are often the ones taking care of the household expenses and the grocery shopping. So these 5 passive money making ideas for women are tailored towards this type of activities like cash back deals on shopping for clothes, cosmetics and groceries. Passive income for women can be life-changing! Being able to stay at home and still make money is the best!
1. SwagBucks – Earn money by buying your usual purchases through the App
SwagBucks is something that I use to earn Amazon gift cards with very little work. You use SwagBucks just like Google for online searches.
However, with SwagBucks you get reward points (called SB) for the things you do through their website. Then, when you have enough SB’s, you can redeem them for cash, gift cards, and more. You’ll receive an SB (Worth $3) sign-up bonus just for signing up today!
2. Ibotta App
The Ibotta App is pretty awesome! You can get a ton of cash back on cosmetics, clothing, groceries and really anything else that you already buy! We love it because the cash back is essentially passive income.
3. Checkout 51
Checkout 51 is a great little app that offers cash back on your groceries. You do have to scan your receipt though but it is totally worth it.
4. Snap by Groupon
Snap is a highly addictive app that helps you find the best coupons on Groupon. This is a powerful little app that you will not want to ever put down! Love it!
5. Receipt Hog
Receipt Hog is a bit like Ibotta but you can use it to save money on everything – not just groceries. Very cool!
These 5 passive money making ideas for women might seem more like money-saving tips – but you can think about cash back as an additional passive income stream. Unconventional passive income sources come in many forms.
Read About Some More Unconventional Passive Income Sources
I hope some of these ideas are helpful and please feel free to check out some of our articles about clever money making ideas. The sky is the limit when it comes to making extra money and you are really only limited by your imagination.
Sometimes people think that the only way to make more money is by working harder or longer hours. But often it is about doing the right thing. Finding all the different clever money making ideas and them implementing them into your life so that you can relax and live the life of your dreams.
Good luck trying out all these clever money making ideas! We have tried to give you some of the best forms of passive income that we use to make money online.
We are here to help if you have any questions – please just comment below and we will get back to you.
Russell and Maleah
Passive Income Ideas Can Set You Free From the 9-5 Job That You Hate! Do you have any unique passive income ideas to share with our readers? I hope you have enjoyed reading about the best forms of passive income. Please share any income generating assets ideas that you have.
Please also share any of your clever money making ideas.