I don’t know when you’ll read this blog. I can tell you that I’m writing it in February 2021 after being locked down for almost a year. These days, most people work from home. Like me, many people have lost their jobs. Losing my job shook me, so now my mind is on passive income ideas. I never want to rely on a 9-5 job ever again.
I’ve always liked having a side hustle. Now seems like an excellent time to learn more about this subject.
So, without further ado, here’s a list of 20 easy ways to make money from home:
Create & Sell Online Courses
Please don’t roll your eyes. Take this seriously. Online courses can be about anything these days. We spend so much time indoors. Once the pandemic is over, I cannot see life returning to how it was. Employers are “woke” (they no longer want to rent office space). Working from home is the new black. Employees have more time to consume more online courses and develop their skills. What skills do you have that can benefit another human being? Package it into a neat miniature course and offer it for sale online. You do the hard work once and sell it over and over again. And yes, you can do it. You don’t need to have a PhD to teach somebody something. Just be 2 steps ahead of your student and keep learning.
Create & Sell Audible Books
When I was doing research for this piece, I came across information about creating audiobooks.
We live in a society that is addicted to ease. Why bother reading when I can have someone with a seductive voice read to me instead?
I have just signed up to produce my audible book, and I am super excited. I have met real people that live solely on the proceeds of their audible book income.
Can’t write or narrate? No problem. You can outsource the whole process. Writing and narrating. Just choose your subject.
Create & Sell eBooks
Producing ebooks is another excellent source of passive income. The process of Self-publishing has been made so easy with Kindle Direct Publishing. You can self publish Self-publish eBooks and paperbacks for free and reach millions of readers on Amazon forever.
I love the opportunity. You gain the prestige of being an author. Just imagine a book you have poured your heart into, with your name and picture on the title.
I am signed up for this and will let you know how I’m doing.
Amazon FBA
FBA stands for Fulfilment by Amazon (FBA). 65% of the stuff we buy on Amazon is FBA. Ordinary people like you and me list our goods on the Amazon website. Then send our goods to the Amazon warehouse. Amazon stores deliver and do all the customer service.
Things I wish I knew
- Choose a product that stands out.
- Have a good amount of followers or subscribers.
- Tailor your goods to meet the needs of your followers
- Direct your followers to your amazon store
- The more sales you have, the more visible your store becomes.
Find out more by clicking this link:
Sell on Etsy
I have an Etsy shop. I sell posters and downloadable planners. Etsy is an online marketplace that operates worldwide and brings buyers and sellers together. The site is terrific for those interested in arts and crafts. Digital artworks work best as downloaded.
You upload your artwork and list it for sale once. People buy over and over. Learn more here
Rent Out Your Spare Room
It is important to vet your lodger, especially if this is where your family lives.
I was specific. I wanted a Japanese foreign student. my advert is written in Japanese and placed in the Japanese centre in London. I got a young lady, extremely polite and lovely. She integrated well with my family, paid her rent on time consistently, and even offered to babysit my girls. In exchange, we helped her with her English language skills.
You may have other assets like a garage you don’t currently use or perhaps full of worthless junk. Clear out the rubbish and make money from this piece of real estate. I remember one of my former students who had a garage full of old books. He had them for over 20 years. He did not need them. He gave away all the books and started to earn £250 a month. He used the money to build savings and contribute to his pension. Driveways can also bring you money. Just look round the house. What can you rent out to get cash in?
Dropshipping
Dropshipping is the type of business that allows you to start with little or no money. This is how it works. You start an online business, list products on a site you create for your business and sell products to your buyers without ever actually stocking the items yourself. When you sell a product listed in your store, the item purchased is shipped directly from your suppliers to your customers. The key to success is how well you market and are visible to your customers. A unique, eye-catching product is also a winner.
Instagram Sponsored post
Now this one was a shocker to me. I have not made money this way because I am so old school and social media-shy. But I have friends that make thousands of dollars monthly from sponsored Instagram or Facebook posts.
The best way for me to explain how this works is to describe a recent incident (Sept 2020). I was in Central Asia with a very successful friend. She has over 900K followers. Big brands and corporations will ask her to mention their name, talk about their product, or take pictures of herself using a service, and for this, she gets a nice juicy cheque. I got a month’s free gym pass to the most expensive and exclusive gym just because I was her friend. There is money in having followers. Get the followers and look after them. It will be worth your while in the long run.
Print-on-Demand online store
This is how it works. You create one-of-a-kind graphical designs and sell them on t-shirts, apparel, mugs, canvases, phone covers, purses, and other goods. It helps if you have a creative eye. If unsure, check out what other creators are selling well. (Etsy has many examples)
Canva is an excellent piece of software. The free version is all you need to start your design business. The cutest part about this business concept is that you can brand yourself around your interest. For example, if you have a favourite dish, you can make goods based on that one hobby. Of course, not everyone shares your enthusiasm for Egusi soup, but you don’t need everyone to get started; you only need 1000 raving fans. I hope you’re as excited about this opportunity as I am.
Create A Problem-solving Phone App
I would love to make a money app that helps people. Problems that nobody has thought of yet. All of the best experts in my field of finance have apps. They are killing it. I am not a techie. I have no idea what goes into making a phone app. But I use an app or two daily. Some paid, some free. They are all immensely useful. Apps that solve problems make money. If you are good with computers, this could be a chance to make some extra cash. If you don’t know much about technology but like to solve problems, you might be able to make solutions to problems you find. You can hire a company to do the building for you. For platforms for making apps, click here
Invest
I nearly did not include this type of money-spinner. I guess I assumed that everyone knows about these. They are the traditional, been-around-forever money spinners. What I would do here is mention relatively new ones.
Click this link for more on all types of investments.
High-Yielding Savings Accounts
I remember a gentleman that walked into the bank I worked in for many years. He opened up a 5-year bond that gave a monthly income (interest). His guaranteed monthly income was £2000. This was the 90s. He didn’t need to do any work for 5 years. This is still possible today, but you need a substantial amount and high-interest rates.
Buy-to-Let Properties
A buy-to-let property is purchased to rent it out to renters rather than live in it.
There are two ways to make money:
Rent generates monthly income. This is instant money.
Profit from the growth in property value. This is a capital gain, which is a profit earned through time.
In 2010, you bought an apartment and rented it out. 5 years later, and you decided to sell when the property is now valued at £300,000. You’ve just made a cool £100,000. This is a true money-maker that will never go out of style. Find a property in a high-demand area like London or the South East of England.
There is a significant initial investment expense.
14. Be An Airbnb Hostest
Most people (including me) opt to stay in a rented home whilst on vacation rather than a hotel room. Cost is the most obvious reason. You can let people rent out your home as a mini-hotel. Similar to having a lodger. I have stayed in Airbnb where the owner is a resident (I don’t recommend it. It was a disaster both times I tried). But yeah, you could be a host and make money this way. I will not consider this to be completely passive. So bear this in mind if you are considering this option.
Affiliate Marketing
Affiliate marketers get paid a commission for promoting the products of other people or companies. You find a product you like, tell other people about it, and get a cut of the profit for every sale you make. This is how content creators such as bloggers, YouTubers, and podcasters make money. The more subscribers you have, the more money you make. Subscribers and followers grow with time. Patience is essential in this game. It can eventually become a passive revenue source where you don’t have to do anything. Don’t give up if this is one of your preferred passive income sources.
Sell Your Photos
This is not my favourite passive income strategy. The thought of my photo or a family member appearing anywhere on the globe fills me with dread. That being said, I am not everyone. This may not bother you, and that’s fine.
You could also capture images of nature, cuisine, and other random things if you have a good eye for photography. It couldn’t be simpler. You could even snap excellent photographs with your smartphone. It saves you the cost of purchasing a camera. Upload them to stock photo sources like Shutterstock. They give platforms for you to sell your images. For each photo sold to a site client, they may provide a percentage or a flat charge. This is one you can begin right now. Read more here.
Reverse Passive Income
My favourite is reverse passive income. This is something that anybody can and should do. It involves lowering costs, paying off debt, and using other creative methods to spend less and save more.
Two principles guide this reverse passive income:
- A dollar saved exceeds a dollar earned. Individual spending money is taxed money. If I cut my spending by £1.00, I have saved £1.20.
- Lowering your spending allows you to live on less. You can reduce your working hours to rest and truly begin living, enjoying your family. Alternatively, you might invest any surplus funds in business ideas that will eventually provide you with financial independence. Who doesn’t want to be unshackled?
Merch by Amazon
This is a low-overhead, low-investment way to build a little passive income. It is the same as setting up an on-demand print shop but just done for you by Amazon. (honestly, they are everywhere, doing everything.) But for you, focus on creating and uploading new eye-catching designs. Let Amazon Merch do the rest. I know a few people make between £60 and £200 monthly. They’ve just started, and I will consider them unfocused. This is one business they can build up.
How does it work? (In amazon’s own words)
“Upload your artwork, choose a product type and colour, and add a product description. We’ll create a product page on Amazon, and when customers buy your product, we’ll handle production, shipping, and customer service — all with no upfront costs.”
Find out more here.
Rent Out Your Car
I love how Turo (a car-sharing app) describes this money-spinner. Let your car work while you finally:
- Take that vacation
- Go fly fishing
- Write your novel
- Binge-watch TV and chill (just this once)
According to Turo.com, you can “Share your car whenever you’re not using it and earn an average of £574 per month on Turo, the world’s largest car-sharing marketplace”. Other companies are doing the same. Do your research and choose one that works for you.
Music Licensing
My YouTube exploits have introduced me to various previously unknown passive income opportunities. I needed background music for my videos and discovered that this style of music has its market. My biggest challenge was finding songs in the Afrobeats genre. So, if you’re reading this and have musical talents and a home studio, you could be making money—targeting new genres. Get in there quickly, friend. Also, keep me in mind when the money starts coming in.
Final Thoughts
We’ve finally reached the end. There are a lot more things out there.
Everything written about in these blogs is doable. Despite their “passive” nature, all will demand an initial investment of time and money. Strive hard at it. If you keep at it, you will succeed.
If you enjoyed reading this post, sign up for my email list, and I’ll send you new posts as they come out. You can also find additional blogs from me here!
Joyce
