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Knowledge Hub

5 min read

5 Passive Income Ideas to Help You Make More Money

Finance & Money March 02, 2022 By Budget Insurance

Making some extra cash is always a good idea as you could put it towards your savings or another financial goal. However, you may not always have the energy or time to put in extra hours every day. Fortunately, there are ways to lay the groundwork that will enable you to reap the reward of regular income.

 

Use these easy passive income ideas that can help you make money with minimal long-term effort.

 

1. Create an online course

Do you have a special talent or expertise in a specific niche? Share your knowledge and earn an income by creating short courses. Your course format can range from video and audio to PDF downloadables. Get started with these online course platforms:

 

 

2. Rent out your space online
Have an extra room or other space that’s available? Temporarily rent it out using platforms like Airbnb. This means you can make extra bucks while you’re on vacation or away on business. Over time, as you accumulate reviews, you will become a trusted host and more people may rent out your property, making this a lucrative source of passive income!

 

 

3. Rent out your car

If you don’t use your car often, why not hire it out to someone and make some money? Platforms like RentMyRide allow you to safely rent out your car all over South Africa. This idea is especially relevant right now as many of us are working from home, leaving our cars unused for long periods.

 

 

4. Sell stock photos

Do you have a photographic eye? From media houses to bloggers and designers, many people from different industries need stock images. And you don’t have to be a professional! If you can take decent photos, then you could sell them online. The most important thing is to pick a niche (e.g. portraits of people or animals) so that your photos stand out. Below are some stock-photo websites you could start with:

 

 

5. Sell preloved items

From books to clothing and even gadgets, selling gently used, quality items could make you some extra cash. Choose a weekend to go through all your stuff. Pick out what’s sellable and decide on a platform to get started. You could start a simple online store with:

 

 

For more finance and lifestyle tips, check out our blog.

 

The information in this article is for information purposes only and does not constitute professional advice.

 

References

 

https://sixads.net/blog/passive-income-ideas/

https://www.bankrate.com/investing/passive-income-ideas/

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