Want to make money without working all the time? That’s called passive income, and it’s super helpful, especially when the economy is unstable. In 2023, it’s a bit tough with high prices and some people losing jobs. But don’t worry, you can still earn money without much effort.
So, what can you do to earn passive income in 2023?
There are fantastic ideas like investing in things that make money on their own, writing a book and earning money from it, renting out your place, or even creating an online course. These ideas let you earn money while you sleep or do fun things! It’s like having a secret helper for your money.
We’ll look at different ways to do this, how much money you might need to start, and how much time you might need to spend. You can use the list to find the one you like the most.
25 Passive Income Ideas: Earn While You Sleep
1. High-Yield Savings
If you want to grow your money without any worries, you can put it in a special bank account called a high-yield savings account. These accounts are on the internet and at credit unions. They make your money increase faster than regular accounts.
The really good high-yield savings accounts give you almost 4% extra money each year. These accounts are safe, like a piggy bank. You won’t lose your money, but don’t put more than $250,000 in one account with one bank.
It’s better than playing with the stock market because there’s no danger, and your money stays safe and grows.
2. Invest in crypto
Investing in cryptocurrency is similar to attempting a novel approach to earning and generating passive income. Lots of people are getting interested in it. But remember, it’s a bit risky because the value of these digital coins can change a lot. So, don’t use all your money for it. Just a little bit might work out well. If you’re thinking about it, it’s smart to ask a money expert for advice on which cryptocurrencies are safer to invest in.
Leading US Crypto Exchanges
1. Coinbase
2. Kraken
3. Gemini
3. Dividend stocks for passive income
When you buy certain stocks, they might give you extra money regularly. This extra money is like a gift from the company because they made profits. Over time, this extra money can become a steady income for you.
Also, when you have these stocks, they can grow bigger and give you even more money. This is because the company is making more and more profits. So, the money they give you as a gift can also become bigger.
Another way to make money like this is by investing in a group of stocks that follow a special list. This list helps you have a little bit of many different companies. This is like having a lot of different candies in a big candy bag. You don’t have to pick just one candy. These groups of stocks also give you extra money regularly.
So, if you want to have extra money without working a lot, you can buy these kinds of stocks or groups of stocks. It’s like getting presents from companies.
Use platforms like Robinhood, E*TRADE, or Fidelity for buying dividend stocks.
4. Passive Income via Stock Market
Earning money from stocks is like planting a money tree that grows by itself. It can be a little risky, but it’s a good way to make money and generate passive income.
Just remember, the stock market goes up and down a lot, so this money-making idea is best for the long run. Instead of trying to get rich quickly, it’s better to slowly save and invest your money for many years.
But be careful, we can’t tell you exactly what to invest in. It’s like picking different flavors of ice cream – you should talk to a money expert to help you choose the best ones for you.
Here are a few popular and highly regarded stock market platforms in the USA: NASDAQ, NYSE, and Charles Schwab.
5. Farmland Investment (best passive income ideas)
There’s a type of land called farmland where crops like fruits and vegetables are grown. Before, only very rich people could invest in it. But now, there’s a way for regular people to invest too, like a team effort.
Investing in farmland can be a good way to make money without doing much work. It’s like getting money while you sleep! The value of farmland usually goes up over time, like how things get more expensive as you grow older.
Farmland is special because it’s not like regular things people usually invest in, like company stocks or bonds. This means if those things go down in value, farmland might not. People always need food to eat, so the land where food is grown stays important.
In the past, this kind of investing was mostly for super-rich people. But now, with some new ways to work together and invest, even regular people can be a part of it. Over the last few years, the value of farmland in America has gone up a lot, more than 6% each year. This could mean more money for people who invest in it.
Top Passive Income App Ideas Worth Installing
6. Get 5% Annual Passive Income with Worthy Bonds
You can put your money in Worthy Bonds and get 5% more money every year. They take the money from the bonds and give it to small businesses and also use it for other investments like buying buildings.
You can choose how much to put in and when to take it out. If you want to help small businesses and make money without doing much, Worthy Bonds is a good idea. They give you 5% more money every year by using the bond money for small businesses. When the businesses make more money, you get your own money back plus 5% extra.
Even if you have just $10, you can still make 5% more money, and you don’t have to pay any extra money.
7. InboxDollars Rewards App
InboxDollars allows users to earn passive income by completing online surveys, watching videos, and participating in cashback offers, contributing to a small stream of earnings over time.
Users can also accumulate passive income on InboxDollars by referring friends and family to join the platform, earning a percentage of their earnings. Additionally, reading promotional emails and playing games can contribute to a modest ongoing income source.
8. Honeygain app (Passive Income Ideas)
It’s like a helper that sits on your phone or computer. When you’re not using them, it quietly watches and listens to the internet. It counts all the information that goes through, like when you play games or look at funny pictures.
And guess what? The app gives you money just for letting it do this! You don’t have to do much – just install the app and keep it running in the background.
For example, if you have three things connected, like a phone, a tablet, and a computer, you could get around $19 every month. That’s like finding $230 in a year! So, it’s like a little treasure for doing something easy.
9. Dosh App
Get $5 in your Dosh Wallet when you join and link your card. When you buy things at certain stores, you get some money back. If you use the app to book hotels or tell friends about it, you can earn even more money back.
If you want an app that gives you money back when you shop, get the Dosh app on your phone. It’s easy to use – you don’t need to show receipts or use special codes. Just shop like always and see your money grow.
10. Turo App
Want to make money without working hard? Here’s how! You can put your car to work and earn money while you relax.
First, join Turo for free. It’s easy! Then, list your car on the Turo app. You won’t have to pay anything monthly.
After people rent your car, you get paid automatically. The money goes right into your bank account within three days.
And guess what? If anything happens, Turo has you covered with insurance. They give you up to $750,000 to keep your car safe.
Your car can help pay for itself! Just download the Turo app and list your car. Remember, your car should be not older than 12 years and cost less than $150,000.
You get to keep most of the money from the rentals. It’s like a gift that keeps coming. Depending on the plan you pick, you can pocket 65% to 85% of the money.
Related: Top 5 Apps to Earn Money
Passive Income Ideas from Creative Works and Art
11. Passive Income from Tradable NFTs
✅ Make special digital stuff, like drawings or pictures. Put them on the computer money system (blockchain) to trade or sell them to others.
✅ NFTs are like special stickers for digital art and music. They help you trade or sell your creations.
✅ Be careful, only make NFTs for things you made. Use a special digital wallet to keep your NFTs safe on the computer.
✅ Platforms like OpenSea, Solanart, and crypto exchanges are places to make and sell these special digital things.
✅ Making an NFT involves creating a digital thing, giving it a name and story, and putting it on a special computer chain.
✅ After that, you can sell your NFT on a website.
🧠Just remember, Solana is cheaper for these actions, while Ethereum can cost more.
12. sell stock photos
If you like taking pictures, you can use special websites like Alamy or Adobe Stock to share your photos and make money without doing much. These websites buy your pictures and then sell them to others online.
Sometimes, when someone buys your picture from these websites, you get some money. It’s not as much money as if you sold the pictures yourself, but it’s nice to get a little extra money while you keep getting better at taking pictures.
13. Selling Printables
Do you like printables? They’re cute papers you can print and use for many things. You can make health trackers or planners to sell. Make them online on Canva or PicMonkey.
After making them, you can sell them on Etsy or your website. Printables are a simple way to earn money without always working!
More Ideas to Make Passive Income
14. Start a blogÂ
Imagine making money while you sleep by having your very own website! You can do different things to earn money. You could write fun stories or share your thoughts on your website, and more people will come to read them. This can help you sell things like special books you write, interesting classes you make, or cool T-shirts you design.
The good things about having a website are that it doesn’t need a lot of money to start, and you can make it in a short time. But remember, you have to keep adding new things and making your website look nice. Also, lots of people won’t visit your website all at once. It takes time for more people to come.
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15. Start a Vlogging
Vlogging means creating fun videos shared online. It’s a cool way to earn money by making videos and sharing them. It requires effort at the beginning but can pay off well. YouTube vloggers can earn over $60,000 a year through ads, product mentions, and sponsorships. Once you make videos, they continue to earn money as people watch. With billions of hours spent on YouTube daily, making interesting videos can lead to earnings.
16. Selling Domain Names for Passive Income
Selling domain names is great if you don’t have a lot of money or time. The names can become more valuable as time goes on, so you might make a lot of money in the future. Plus, you can do this from anywhere, which is good if you want to work from different places.
17. Websites creation
Generating passive income through website creation is attainable, allowing you to earn money without being engaged in constant work. Websites are sought after by numerous companies that conduct their business activities on the Internet. This leads to the opportunity to craft websites for these companies, resulting in compensation during periods of non-active involvement. Consequently, the act of creating websites can be likened to owning a perpetually operational money-making machine, driven by the widespread demand for websites.
The Best Passive Income Ideas Involving Outsourcing
18. Start an Online Store
Starting an online shop can help you earn money without working all the time. Many people buy things on the Internet, so it’s a good idea to have your online store.
First, you need to make a website where you can show the things you want to sell. After you do this, you can use machines to do most of the work like taking orders, getting paid, and sending things to customers.
You can also save money by using a special service that helps you sell things without keeping them in your house. To tell more people about your store, you can use search engines like Google and websites like Facebook.
This way, more people might come to your store and buy things, which will be good for your business.
19. Start a Dropshipping
Drop shipping is like having an online store where you don’t need to keep things to sell. When people buy from your store, someone else sends them the stuff. If you want, you can get help to run the store smoothly.
20. Passive Income through Affiliate Marketing
Affiliate marketing is like having a special way to make money online. You can do it while you’re doing other things. Here’s how it works:
Ads on Your Website: Do you know those ads you see on websites? With affiliate marketing, you can put those ads on your website or blog. When people click on those ads or just see them (impressions), you get some money.
Sponsored Posts: Sometimes, companies might want to talk about their stuff on your website. They pay you to write about it and put it on your site.
Recommend and Earn: Imagine you like a toy and tell your friends to get it. With affiliate marketing, if you tell people about a cool product on your website and they buy it through a link you share, you get a piece of the money.
The best part is, once you set up everything nicely, you can keep getting money even when you’re not working. So, if you’re good at it, you can make money while you sleep! Just remember to talk about things that make sense for your website and the people who visit it. That way, they might buy stuff, and you’ll keep making money.
21. Start Podcast
Podcasting is like your online radio show, sharing stories or music. And guess what? You can make money too! Companies might pay you to talk about their stuff or by having ads in your podcast. You can even sell cool things related to your podcast for extra money. It’s fun, creative, and profitable.
22. Virtual Assistant
More and more companies are using virtual assistants because they help with online tasks. This is great for people who want to work from home and make money regularly. You can do different jobs like helping with social media, emails, schedules, and entering data.
When you learn how to start your own virtual assistant business, you can pick when you want to work and do it from your cozy home.
23. Print on Demand for Passive Income
you can make your shop without needing to keep things in stock. Imagine you want to sell cool cups, shirts, or notebooks. Places like Printify and Printful can help you do this.
You make a cool design, and then you put it on the stuff you want to sell in your shop. And just like that, you start making money.
24. Sell an eBook
E-books are like digital books that you can write and share online. They can be about anything you’re good at, like drawing, cooking, or telling stories. People might like what you make and want to buy it from you!
You don’t need to make a super long e-book, and it doesn’t have to be a story. You can make e-books about things you’re good at, and others want to learn. If you pick a good price for your e-book, many people might buy it, which can give you money without working all the time.
25. Peer-to-peer lending
Earn passive income by giving money to others online. They might be people who need money for their business or personal things. They can’t get money from regular places. But they promise to give you some extra money over time for letting them use your money.
This might be a bit more risky than other ways to make money without working, but if you’re okay with taking a bigger chance, you might get more money back. Just remember, don’t give away the money that you need.
Valuable advice
When you want to make money without working all the time, you can pick a special way to get money called “passive income.” But listen, this new money idea will not happen right away. It will take some time to set up.
Some ideas might need only a few hours of work, while others might need a few months. So, before you start, make sure you have time at the beginning to set things up. Later on, you won’t need to spend as much time, but you’ll still get money.
Passive income ideas FAQ
How do you make passive income realistic?
12 passive income ideas
1. Passive Income via High-Yield Savings.
2. Invest in crypto.
3. Invest in Dividend stocks.
4. Farmland Investment.
5. Passive Income App.
6. Trade NFTs.
7. Websites creation.
8. Invest in Worthy Bonds.
9. Start Podcast
10. Peer-to-peer lending
11. make health trackers or planners sell
12. Passive Income App Honeygain, DollarSprout, and Turo App
How many types of passive income ideas are there?
8 passive income ideas
1. Peer-to-peer lending.
2. Sell an eBook.
3. Print on Demand for Passive Income.
4. Start Dropshipping.
5. Start an Online Store.
6. Selling Domain Names.
7. sell stock photos.
8. IDosh App.
What is the fastest way to earn passive income?
Investing in cryptocurrency is like trying a new way to earn money without working all the time. Lots of people are getting interested in it. But remember, it’s a bit risky because the value of these digital coins can change a lot.
What is the difference between income and passive income?
Active income is money you get for doing a job, like getting paid for working at a job or by the hour. Passive income is money you get when your money works for you, like when you own parts of companies (stocks) that give you a share of their profits, or when you lend your money and get paid back with extra (interest), or when you own houses that people rent and pay you (rental income).
How to Find Passive Income Ideas Sources?
Finding passive income without actively working can be a big help in becoming financially free. There are different ways to do this, like buying property and making things to sell online. But it’s important to know where to look for these opportunities.
How to passively make $2,000 a month?
To make $2,000 a month without working a lot, you can:
Teach online classes.
Invest in farmland.
Share and sell cool things.
Put money in the stock market.
These can all help you earn money without working all the time.
Passive Income vs Active Income Examples?
Active Income:
When you have a job, like being a journalist or making things, you work and do things to get paid. If you stop working, you stop getting money.
Passive Income:
Imagine you make something cool, like a book or an app. You put in hard work in the beginning. But after you’re done, it keeps making money even if you’re not working a lot.
what is a passive income?
Earnings produced with little continuous effort are referred to as passive income. Regular income through assets, rental properties, or online businesses that provide financial stability without being dependent on constant labor.
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