7 Ways You Can Create Passive Income
Photo © rawpixel
We all work hard. It would be nice to have some extra money to show for it. You can have great benefits and fair pay at a full-time job and still have no money left over for yourself at the end of the day.
Luckily, if you are creative or resourceful, there are plenty of ways to supplement your income and have extra to add to your savings or use to treat yourself.
Upcycling is becoming more popular as society becomes more environmentally conscious. All you have to do is turn one man's trash into your next big payout. Instead of throwing out old knick-knacks, furniture or materials, transform them into something trendy and useful. You can find materials and old furniture to upcycle at yard sales, thrift stores or even in the garbage, as long as it is salvageable. It all starts with the ability to see the items for what they could be rather than what they are. Once you come up with a few speciality craft ideas, you can produce unique pieces to sell online on sites like Etsy or in person at events and fairs by renting booth space. If your crafts start to catch on, your upcycling hobby could turn into your very own storefront.
Write an eBook
There is a market in convenient, quality information. You don't have to be the best writer or even a good writer to sell ebooks online. All you need is specialised, useful knowledge that people need. It can be anything. If you know a lot about facial skincare and you use unique methods - write about it. Include pictures of the products or steps you take. Create a website with free sample tips that draw your audience in. If they are on the hook, they'll be compelled to purchase your $10 ebook and share your page with their friends. In the digital age, it is easier than ever to be self-published.
Become a Personal Shopper and Chef
If you like to shop or you have a passion for cooking, then capitalise on that! Our lives keep getting busier. Some people are busier - or lazier - than others. And others struggle with medical issues that prevent them from functioning normally. You make their people's lives more convenient and earn a pretty penny on the side. You can charge from $20 an hour to $150 an hour for these services, depending on your area, your level of experience and the wealth and demands of your clients. Even at $20 hourly, you can make an extra $60 minimum every weekend by preparing dinner for a single individual. If you book a whole family, the rate will be even higher.
Selling baked goods is a simple way to supplement your income. If you have children, they can be involved and learn about what it's like to have a business. You can teach them about profit and customer service. You can sell cookies, pies, brownie or cakes for special occasions. Aim your services to clients who have a birthday or wedding because those orders will give you the most return. Practice baking and post pictures on Instagram and Facebook to generate interest. Decorate your treats according to the season or holiday. People love cute cupcakes and other morsels that look like something from Pinterest. Clients can place orders through a direct message on all your social media platforms. Once you get a few clients, word will spread fast and you will get more orders as time goes on.
Be a Consultant
Direct sales have become so much easier since the progression of the internet. It's very popular among stay-at-home mothers as a way to make extra income from home. Anyone can do it. You've probably heard of companies such as ItWorks, Mary Kay and Pampered Chef. Mary Kay alone nets $3 billion annually - and they couldn't do that without regular women like you standing behind their products and making face-to-face and online sales. This experience can be very fulfilling. Not only will you earn extra income through direct sales, but you will also have fun and meet new people. You will develop skills in communication, leadership and public speech. These skills are helpful in all areas of your life. Also, direct sales companies usually have excellent support groups to guide you through the process and local meetings where you can swap tricks and tips with other consultants to become a better salesperson.
Be a Brand Ambassador on Social Media
Many brands, including kitchenware, environmentally-friendly clothing and makeup brands, rely solely on social media like Instagram to generate business. One way they do this without paying a lot for advertising is by hiring brand ambassadors. As a brand ambassador, you usually are required to create engaging posts and tag the brand in your posts each week. They will provide a link to their merchandise just for you. Customers can use your link to get a discount and order products. You get a percentage of each purchase made through your link as well as perks like coupons and personal discounts. It takes minimal time and effort to generate this extra income. The great thing about it is you can seek out brand ambassador positions for the products and services that you are passionate about and use every day. When you believe in the mission, it's easier to help make it happen.
Build a YouTube Channel
YouTube has made celebrities of completely regular people. There are channels making millions of dollars, and the content they produce is entirely useless and ridiculous. It's all about the views. If you have a personality people will latch onto, interesting daily life or a good sense of humour, all you have to do is point the camera at yourself. You can also create informational or how-to videos. Many women are on YouTube doing makeup tutorials, fashion videos and cooking shows. These tend to get a lot of views naturally because when people need information quickly or want to try something new, a video is the most convenient form of communication. Another genre on YouTube is criticism and review videos. If you're opinionated, this might come easy for you. You can review the fashion from the latest Grammy Awards or critique Cardi B's newest music video. Keep topics current to generate the most views. Use trending keywords to boost your videos in the search results. The beauty of all these ideas is anyone can do it. If you create a shooting schedule and stay dedicated to your videos, you will gain a following. You might not be the next Jenna Marbles, but you can make hundreds or thousands of extra dollars every month if you do it right.
We all make excuses as to why we can't be successful in a side job. "I don't have enough time." But most of these options don't take very much time, and many involve platforms that we spend wasted time on every day.
If you commit a small amount of your free time to one or more of these ideas, it will have a pretty big payoff. After all, any extra money is a blessing. And who knows? Maybe you'll find passion and success in your side job and make it full time.