Who doesn’t like a bit of extra cash? If you are feeling a little light in the pocket or simply want to put away a bit of extra cash, there are lots of ways you can make some extra money which don’t require too much effort on your part.
If you can do it, generating passive income is the holy grail – what’s better than a reliable source of income which doesn’t require you to lift a finger? We’re not talking life-changing amounts, but an extra few hundred here or there can make a huge difference, especially when you get it each month.
#1: Start Up a Blog
This is one of the easiest methods of generating side-income, but many people give up on it because it takes some time to get going. Although there’ll be no income in the beginning, once you have built up your own audience, then money will start flowing in.
Running a blog doesn’t take a whole lot of effort either, especially when you blog about something you have a love or passion for. There are some blogging markets which make more money, and these tend to be fitness blogs, money-related blogs and dating or relationship blogs.
#2: Write an eBook
Carrying on with the writing-related income earners, if you have something you are passionate about or are creative then why not create an e-book? They are super easy to publish when they are completed and over time they can be nice little income earners.
And who knows, your simple e-book project could take off and become the next best seller!
#3: Start Trading
If you have an interest in finance and the stock markets, you might want to look into trading. This can be done from home; all you need is a computer with an internet connection and a bit of cash to get started. While it does help to have an interest in the financial markets, you can also look into copy trading until you find your feet. If you want to get started with trading, you can simply check out InvestinGoal.com for a list of the best social trading options and copy professional traders until you build your knowledge and confidence. It’s not a guaranteed income but it can be lucrative if you know what you’re doing.
#4: Rent Out a Spare Room
If you’re a social person and have a spare room in your house, you can rent it out on AirBnB and other websites for a bit of spare income. Although it’s not passive income, if you live in a major city and can offer a competitive rate, you can make a nice side income from it.
Although renting a room does require you to put some work in, it’s usually not much.
#5: Turn Your Hobby into a Business
If you are creative and crafty and like to make things, then why not turn this into a money-making business? There are several websites where you can sell your crafts and creations. Whether you knit scarves, design greetings cards or make furniture, the likes of Etsy, Thortful and even eBay are all viable marketplaces.
If it takes off, you could even launch your own site.
If you need some extra cash, there are lots of ways you can go about doing this and the above five are simple and easy to get going with.