Making money can be very difficult for some of us. It usually takes hard work and long hours at a job we hate.
In this article you will learn of 14 ways to make money with little to no effort.
These are called passive income.
What is a passive income?
Passive income is making money without working. Just remember,some of them requires you to put some effort at the beginning.
Thanks to apps, basic investment tools, and savvy shopping strategies, you can make get extra cash without doing much.
1.Write a book and get royalties.
Okay, so this one takes a bit of work. But lets say you’re an expert on a subject. On Marissa Mayer and the company Yahoo!, for example (now available in paperback).
Once you actually write the book and put your expertise to paper, then get it published, you’re pretty much done.
From then on, whenever people buy your book, you get paid in royalties.
The precise amount of royalties are contingent on your contract with the book publisher.
2.Create an online course and get paid for it.
Let’s say you’re an expert in a subject, but don’t think that a book is the right way to communicate the knowledge you want to share.
You can do it with an online course. You can make and upload one to Udemy, for example, and set your own price points.
Whenever someone buys the course, you’ll get paid.
3.Make a website and get advertisement revenue.
If you’re an expert in a subject, but that subject isn’t fit for a book project or an online course, set up a website!
Use WordPress, Weebly, or some other web-creation platform to make a site and make your guide there. Then sell online ads – which you can do with Google, for example – on your site so that you get some spare revenue whenever someone reads your work.
If you’d rather implement a paywall instead of advertising, the startup Verst can help you do just that.
4.Make a YouTube video guide.
Stick with me. Let’s say you’re an expert on a subject, but the best way to convey your information isn’t in a book, an online course, or a post on the web. Instead, consider making a YouTube video.
YouTube is filled with thousands and thousands of guides on every topic imaginable. If you’re an expert on how to do a factory reset on an iPhone, you can make a video about that. If you’re an illustrator and want to explain the vocabulary of your trade, you can make a video about that.
As with the web, YouTube lets you set up ads on your videos. People searching for those subjects will find your videos, watch them, and then the ad revenue will roll in indefinitely.
5.If you already have a website, use referral links.
Whether your website is an online guide, a blog, or whatever else, use referral links whenever you discuss a product.
Sites like Amazon, for example, let you add a bit of code in the URL of a product. If anyone buys the product through that URL, you get a percentage of the revenue from that purchase.
6.Be in a commercial.
Any actor will tell you that getting an acting gig – even a commercial – is tough. But if you live in a major metropolitan area, though, it isn’t as difficult to become an extra.
If the contract is good, you can make some serious money. One of my friends was featured in a Target commercial that was in heavy rotation during the 2012 Summer Olympics. He got $500 every time it aired and used the cash to pay off a good chunk of his college tuition.
Here’s more info on how to become an extra and what it’s like.
7.Airbnb your unused apartment or room.
If your kids have flown the coop and you have an extra room in your house, or if you’re traveling for awhile and won’t be in your apartment, consider renting it out for the short term on websites like Airbnb or VRBO.
They basically allow you to turn your room into a hotel. You can list your room, set rental dates and prices, and people visiting the area will pay you to live in your room for a short amount of time.
How much you can make depends on the rental market in your area. If you have an apartment in Williamsburg, Brooklyn, for example, you can stand to make a pretty penny by renting out your room while you go backpacking in Europe for the summer. But if you’re in Pittsfield, Maine, you might not find as much demand for your house’s extra bedroom.
With Microsoft Rewards, Microsoft will give you money just by using Bing instead of Google. Seriously.
9.Invest in index funds.
It’s generally a really bad idea to try to play the stock market unless you’re a financial professional.
There’s one exception: index funds. Investing in a small number of stocks is a volatile business. It’s possible to make a lot of money, but you could lose a lot, too.
Investing in index funds puts a little bit of money in a lot of stocks. Those stocks track parts of the stock market as a whole. One index fund known as the S&P 500 has grown by more than 2,000% over the last 40 years, so it’s a relatively safe, stable fund to invest in.
However, you likely don’t stand to lose or gain as much money as you would if you invest in individual stocks.
To invest in stocks, the easiest way would be to get a brokerage account at a bank like Charles Schwab, or use the free stock trading app Robinhood, which gives you a free share in a stock, usually worth around $5, if you sign up with a referral code.
10.Invest in high-dividend stocks.
Among the funds you invest in, make some high-dividend stocks.
There are two kinds of dividends: cash dividends and stock dividends.
Cash dividends are when companies give shareholders cash based on their profits, and stock dividends are when corporations give shareholders extra stock.
Dividends are given for different reasons, but they’re ways that companies reward shareholders for holding on to a stock.
The list of companies that regularly give out dividends sometimes changes, but you can find some recent ones on finance sites like The Motley Fool, which currently recommends Iron Mountain.
11.Sell your photography to the web.
Sites like INSIDER always need good photos for our content, like the one above.
Sometimes we take our photos ourselves, sometimes we get them from news-wire services like Reuters and Getty, and sometimes we get them from stock image services, like Shutterstock and iStock.
For Shutterstock and iStock, anyone can submit their photos to be included in the service. You just have to follow their guidelines and upload your photos. Then when someone (like INSIDER) downloads your photos through them, they’ll pay you a fee. If you’re a photography hobbyist, it’s a relatively simple way to make some money from your photographs.
12.Get cash back on credit cards.
Credit cards often offer cash back as a reward for making purchases. What this means is, for every purchase you make, the credit card company will give you a small percentage of the money back.
The percentage differs between credit cards and categories. So, for example, one type of credit card might offer 1.5% cash back on all purchases. Another might offer 1% back on most purchases, but 5% back on gas and travel purchases. An app called Birch can help you figure out which credit card is best for a particular category.
You also often have to reach a certain threshold of payment to be able to cash in. And cards will often allow you to redeem your cash back as “points” to purchase things directly from the credit card company’s website instead.
13.Invest in real estate.
This one takes more cash upfront and more management, but the payout could be significant.
If you can invest in a real estate venture, you can make a lot of rental money. Of course, there are a lot of obstacles to hurdle. Most importantly, you need a lot of capital to invest in the first place. And secondly, you need to make sure the place you’re investing in will have a steady stream of rent-paying tenants.
But once you have a property that’s established and has tenants, it’s just a matter of upkeep.
If you invest in a venture with a full-time property manager, the job becomes much more passive. Renting out real estate is a considerably more simple and stable way to get extra cash flow every month with relatively little effort compared to other investment opportunities.
14.Build an app.
If there’s a function you want on your smartphone, try making an app for it. With sites like Code Academy, learning to code is easier than ever.