Making passive income these days is considered a fad. If you meet any freelancer, they will openly admit that earning extra money enables them to do extra stuff while saving their monthly income for those who are employed. Surprisingly, there are people who are making enough money that exceeds their paycheck with some awesome ideas that will be discussed below.
One thing you will appreciate with passive income is the ease of doing it, you only spend little time and effort but can earn a huge revenue. There are many ways on how to generate passive income, you could:
I) Own a rental house and collect monthly salaries.
II) Own a dividend stock and benefit from dividend payments.
III) Own a website that can earn some money through ads.
Some of the methods could include your hobby meaning you will do what you love while getting paid for it. Below are some ideas you can give your try to may be dedicate 1 hour to 40 hours per week to earn up to $100 or $100,000 monthly.
#1: Credit Card Rewards
Don't be surprised, with a debit or credit card. You can earn points on everything that you buy. From vehicle fueling to grocery, you can find a card and accumulate your points up to $1,000 per annum. Some good examples are Chase Freedom, Discover Cash Back and Fidelity American Express.
#2: Paid Surveys
Imagine just being asked a bunch of questions and all you need to do is click some boxes stating your opinion. This is one way companies use to get information from the public and they per for it with cash and prizes. To complete one survey could take less than 5 minutes. It doesn't mean you will become the next millionaire doing this kind of job, but at least you will earn some extra income.
#2 Web Writer
Becoming a writer offers many options you can earn money from. You can choose to become a blogger and make money through traffic. You can work on popular freelance sites like oDesk, Fiverr and Iwriter to make some extra money. You are not limited to what you can write on as a freelancer, you can set your own price per words or do hourly jobs online. By writing you will be building your knowledge base, and this will enhance your experience in the long run, and despite the fact that you will be learning many things, you will be getting paid as well.
#3 Bond Interest
This is meant for people who fear investing in stocks. The index funds of bonds indicate a more stable return when compared to that of stocks. A bond can be termed as a payment of debt of which interest will be collected by the loaner in this case you. By purchasing many bond coupons, you can easily create a stream of passive income.
#4 Annuities
Annuities are insurance products that allow you to be paid a certain amount of money each month for the rest of your life. Even though you get such payments monthly, there are many things to put into consideration. Annuities have been there for many years, and it is a good way to earn passive income.
#5 Web Researcher
Did you know that web researchers make good money from every work they do? The good thing about being a web researcher is that you can resell your work to a business of the same niche. This is a good job for those who enjoy playing with data and statistics. It always lead to long-term passive income.
The five examples discussed above are a few examples, there are many other ways of making generating passive income.
One thing you will appreciate with passive income is the ease of doing it, you only spend little time and effort but can earn a huge revenue. There are many ways on how to generate passive income, you could:
I) Own a rental house and collect monthly salaries.
II) Own a dividend stock and benefit from dividend payments.
III) Own a website that can earn some money through ads.
Some of the methods could include your hobby meaning you will do what you love while getting paid for it. Below are some ideas you can give your try to may be dedicate 1 hour to 40 hours per week to earn up to $100 or $100,000 monthly.
#1: Credit Card Rewards
Don't be surprised, with a debit or credit card. You can earn points on everything that you buy. From vehicle fueling to grocery, you can find a card and accumulate your points up to $1,000 per annum. Some good examples are Chase Freedom, Discover Cash Back and Fidelity American Express.
#2: Paid Surveys
Imagine just being asked a bunch of questions and all you need to do is click some boxes stating your opinion. This is one way companies use to get information from the public and they per for it with cash and prizes. To complete one survey could take less than 5 minutes. It doesn't mean you will become the next millionaire doing this kind of job, but at least you will earn some extra income.
#2 Web Writer
Becoming a writer offers many options you can earn money from. You can choose to become a blogger and make money through traffic. You can work on popular freelance sites like oDesk, Fiverr and Iwriter to make some extra money. You are not limited to what you can write on as a freelancer, you can set your own price per words or do hourly jobs online. By writing you will be building your knowledge base, and this will enhance your experience in the long run, and despite the fact that you will be learning many things, you will be getting paid as well.
#3 Bond Interest
This is meant for people who fear investing in stocks. The index funds of bonds indicate a more stable return when compared to that of stocks. A bond can be termed as a payment of debt of which interest will be collected by the loaner in this case you. By purchasing many bond coupons, you can easily create a stream of passive income.
#4 Annuities
Annuities are insurance products that allow you to be paid a certain amount of money each month for the rest of your life. Even though you get such payments monthly, there are many things to put into consideration. Annuities have been there for many years, and it is a good way to earn passive income.
#5 Web Researcher
Did you know that web researchers make good money from every work they do? The good thing about being a web researcher is that you can resell your work to a business of the same niche. This is a good job for those who enjoy playing with data and statistics. It always lead to long-term passive income.
The five examples discussed above are a few examples, there are many other ways of making generating passive income.
