Today we will be talking about how to go about getting that extra income. Sometimes our current job doesn’t pay enough to support our needs. Fortunately, there are ways to boost that income through passive side hustles. In the modern age, we are fortunate to have many options to create that second of income revenue stream.
What is a passive side hustle? A passive side hustle is an income generator that you create that runs automatically without the need to put daily work into it. When you have money flowing into your account without putting much work into that income generator, that is how you know you have a successful passive side hustle. But each one is different and comes with different results. That is why we are going to look into some and see which are the best fits for you.
Nowadays, we are too busy keeping up with bills to even consider quitting our regular job to start working on our own. But with the right tools and time management, that fear of starting something new can seem less daunting. If you talk to your friends, 1 out of 5 likely has a side hustle going, whether it be a passive income generator or something they regularly build on and work at. If you are too busy with your current schedule to invest your time in something else to generate income, I will show you quick and easy ways to kick start a passive side hustle with regular income!
Some may require more time than others. The point is to identify what fits your life and passion the best. Also, which of the side hustles, that will be discussed, which will match your schedule. The passive side hustles that will be looking at are:
The Amazon FBA program is a program that helps you achieve side income by providing you storage for items you want to sell on Amazon. The program will even package your products and ship your merchandise for you after a customer purchases your item on the Amazon store. The program is only $40 a month and .45 cents per unit item.
You can start an Amazon FBA side business today by just creating an Amazon seller account. Once you’ve done that, decide what you’re selling and who is in the market you want to sell to. Next, create a brand and market that brand of products. Then you can sit back and let Amazon do all of the transactions for you.
Have an extra room or place? Think about hosting it on the Airbnb network. Airbnb lets people temporarily rent a room or place to guests for a day or more.
To get started on Airbnb, you have to sign up on the Airbnb host page. List the type of place you would like to host. The website will guide you on the options that you need to pick to match the service of hospitality you are offering. When you set everything up and make sure your place is organized and secured, people will start setting appointments to come to stay at your Airbnb. You just have to take care of those transactions and just sit back and watch your side income accumulate.
Rent Your Car
Another great way to accumulate money passively is renting out your car or extra car. There are many apps where you can register your car for people to rent daily or hourly and get paid. It doesn’t require much effort except for making sure your car is available to be rented out on the day the appointment is set for.
Several apps provide this service in many different cities. In particular, the app GetAround allows you to choose what you will charge someone to use your car for the day. The company even provides you with insurance in case a client damages your car. It is one of the best-known apps out there for renting out your car.
A great way to build a passive side hustle that can increase dramatically over time is to create a podcast on a certain subject. This specific passive side hustle requires a bit more time, unlike the others. But it is a great way to fill up any free time you have and build an audience, clients, and sponsors for years to come. With the network you build, the possibilities are endless.
One passive side hustle that requires early work creating it but can earn a lot is an Ebook guide. If you write about something people want to learn about, you will constantly get people to come back to learn more about that subject. Each time they buy your Ebook, you will see an increase in your passive income.
Last but not least, the number one app for investing out there right now is Robinhood. Investing has become something that everyone can also do on the side. Long gone are the days that you need to hire a broker to get started in investing. This passive side hustle can create a large sum of money in the long run; although, it is the only side hustle that can cause a loss of investment if you don’t pay attention.
In conclusion, passive side hustles have become a realistic category in the employment sector. More people are gaining financial freedom with the different options that are out there. We hope that these options we provide bring you an abundance of income!
What are some good sources of passive income that you’ve found? Please leave them in the comments.
This article originally published on GREY Journal.