We’d all like to earn money while we sleep, right? Well, unfortunately I haven’t quite figured that out yet BUT there are several ways that you can earn passive income and I thought it might be a topic to start off the year with! Here are a few ways to earn passive income in 2020:
CREATING TEMPLATES, ONLINE CLASSES IN OTHER DIGITAL PRODUCTS
E-books and apps are just one of many digital products you can use to make money. If you have a skill to teach others, create an online class that people can pay to download or access online. If you write content or design websites, consider selling templates that you create for do-it-yourselfers. I believe Etsy is a great place to start!
MAKE MONEY WITH AN EMPTY ROOM
I would say this is probably the most common way to earn passive income. If you’re a lucky homeowner who has once invested in/inherited real estate or you’ve got ‘only’ a spare room in your apartment, you can quickly make a free listing on a platform such as Airbnb and it’s a GREAT way to earn a little extra income from time to time!
RENT OUT YOUR STORAGE ROOM
If you have a basement, a garage or a storage unit that you’re not taking advantage of consider renting it out to someone in need and make money off it! Spacer is a site which allows you can to make money with any space in a passive way. Spacer does not charge you anything for your listing and, even when making a contract with a lessee, you don’t need to pay. This means you get to keep 100% of all your earnings; the commission will be paid by the lessee, not by you. Win-win.
SELL BARELY USED ITEMS
Lately I’ve been doing a TON of “spring” cleaning and getting rid of so much stuff and well, most of it is items I’ve barely (or never) used! Whether it’s clothing, tools, supplies or unused electronic equipment think about selling it online! One of my favorite app for clothing is Poshmark – it’s so easy to list items and I’ve sold a ton on there!
IF YOU HAVE A WEBSITE, USE REFERRAL LINKS
Whatever kind of website you may have consider using referral and affiliate 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.
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