Working smarter and not harder has been one of my goals for a long time. As the children get older and I have more “time” (it’s not true BTW you don’t!) I want to spend it doing things I love, having adventures with my family and friends not working more! David and I have been talking and researching more into passive income and side hustles, many ideas you might be doing already without even realising or maybe you haven’t realised it was something you could do.
What Is Passive Income?
Passive income is an activity that requires minimal labour to earn money and maintain. Examples include;
- Property Rentals
- Survey Sites
- Affiliate Marketing
- Dividend Stocks
5 Passive Income Ideas For The Hustlers Out There:
- Affiliate Marketing (and Google Adsense): Placing live links or banners onto your website is the easiest way to start creating a passive income. When readers/followers/subscribers click through and purchase products you earn a commission. I use Affiliate Window, Amazon Affiliates and Google AdSense, most of your favourite brands have affiliate schemes in one way or another. There is a lot of information, tricks, tips and hints out there on how to maximise your sales via affiliate marketing. For example, just moving Google Adsense into the main header and adding a plugin that automatically creates ads to well-performing posts increased my monthly earnings with little effort on my end. If you share links on social media you should always state that the links are affiliates and you need to declare this in your blog Disclosure Policy too.
- Earning Interest On Cryptocurrency: This is a great savings alternative using AQRU a simple app that helps you to buy, invest and earn interest on your crypto assets. Your annual interest is paid daily and tracked to the second plus you don’t even have to deposit with crypto, you can deposit normal currency to start earning a yield.
- Selling Stuff: Starting an online side hustle could be easier than you think. We just integrated a print on demand shop with our Travel Blog where we designed mugs and water bottles using our logo, however, you can create all manner of products, including t-shirts, bags and hats. We are able to streamline and integrate with your current eCommerce platform, so it looks just like your brand. We hold no stock, send out no products everything is fulfilled by the print on demand distributor. Selling online is 24 hours a day 7 days a week, online shops never sleep.
- Micropayments: PayPal.me, Ko-Fi or Buy Me A Coffee style micropayment platforms enable readers/followers/subscribers to send you small payments or donations, usually around the price of a coffee so £3/£4 to show their appreciation for your work.
- Cashback Sites: There are lots of sites out there and apps where you can earn a commission simply by making your usual purchases. I personally use TopCashback which offers cashback on over 5,000 retailers. I like to save my earnings up for a Christmas payout or towards a holiday it’s basically free money.
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