The College Investor https://thecollegeinvestor.com Navigating Money And Education Mon, 25 Nov 2024 17:17:54 +0000 en-US hourly 1 https://thecollegeinvestor.com/wp-content/uploads/2020/08/cropped-facicon-cap-32x32.png The College Investor https://thecollegeinvestor.com 32 32 Your Next Side Hustle: Rideshare Driving For Women By Women https://thecollegeinvestor.com/48255/rideshare-driving-for-women-by-women/ https://thecollegeinvestor.com/48255/rideshare-driving-for-women-by-women/#respond Mon, 25 Nov 2024 14:15:00 +0000 https://thecollegeinvestor.com/?p=48255 Are you a woman interested in a rideshare side hustle but concerned about potential safety issues? Find out how Lyft's new feature, Women+ Connect can help.

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Rideshare for women | Source: The College Investor

Source: The College Investor

When you consider your side hustle options, driving with a rideshare service might come to mind. For drivers with extra time, the ability to earn at any time can really help increase your income. 

For women and nonbinary individuals considering rideshare driving, Lyft’s Women+ Connect feature will definitely be of interest. Women+ Connect is designed to help women and nonbinary drivers feel more comfortable driving with the rideshare company. 

In partnership with Lyft, let’s explore what this new feature is and how it might open the door for more rideshare drivers. If you're curious to get started, sign up for Lyft here >>

What Is Women+ Connect?

Women+ Connect is Lyft’s latest user-friendly feature. Essentially, it matches women and nonbinary drivers with women and nonbinary riders more often. The hope is that the Women+ Connect feature will allow more women to drive with Lyft with confidence.

“Women+ Connect is all about providing more women and nonbinary people the opportunity to earn money on their terms and giving riders more choice,” said Lyft CEO David Risher in a recent blog post. “We hope this gives millions of drivers and riders another reason to choose Lyft.”

How It Works

Any woman or nonbinary driver can turn on Women+ Connect. After opting in, you’ll be more likely to match with women and nonbinary riders. 

It’s important to note that the Women+ Connect feature indicates a preference within your Lyft account. However, opting into this feature doesn’t guarantee that you’ll only be paired with women and nonbinary passengers.

If you change your mind about opting into this feature, you can turn off Women+ Connect through your Lyft app.

Sign Up For Lyft Here. >>

Benefits Of Driving With Lyft

As you weigh your side hustle options, consider the following additional benefits of driving with Lyft:

  • Earn extra income. Most of us can appreciate the opportunity for supplemental earnings.
  • Flexibility. As a rideshare driver, you can work on your own schedule.  
  • Bonuses. Lyft offers drivers extra incentives in the form of various bonus opportunities that can boost your rideshare earnings.

Building an extra stream of income in the form of a side hustle can completely transform your financial situation. You can use the extra funds to pay off debt, save for emergencies, build wealth for retirement, and even splurge on lifestyle purchases.

The Bottom Line

Lyft’s Women+ Connect feature has the potential to help more women and nonbinary sidehustlers take the rideshare leap. Although starting a side hustle of any kind can be challenging, flexibility helps make this extra income stream worthwhile.

Get started with Lyft's Women+ Connect here >>

Editor: Colin Graves Reviewed by: Robert Farrington

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14 Ways To Get Paid To Write As A Side Hustle https://thecollegeinvestor.com/16898/the-ultimate-side-hustle-14-ways-to-get-paid-to-write/ https://thecollegeinvestor.com/16898/the-ultimate-side-hustle-14-ways-to-get-paid-to-write/#comments Sun, 24 Nov 2024 12:15:00 +0000 https://thecollegeinvestor.com/?p=16898 Interested in turning your words into dollars? Here are fourteen lucrative ways you can get paid to write from blog writing to magazine writing.

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Get Paid To Write | Source: The College Investor

Source: The College Investor

Freelance writing is the ultimate side hustle - you get paid to write! It’s flexible, it pays well, and it’s enjoyable.

In fact, freelance blogging helped me go from earning $1,600 per month to earning more than $5,500 per month. This profession was my golden ticket to bigger and better opportunities.

The flexibility and sheer amount of opportunity that comes along with freelance writing makes it a fantastic side hustle for anyone who enjoys to write. It can be worked into any college student’s schedule and can be a great side income for everyone looking to accelerate student loan pay-off.

If you want to get your foot in the door and start earning some extra cash here are 14 ways to get paid to write.

Trending Article Right Now
Side Hustle Ideas

20 Best Side Hustles In 2024

  • Find the best side hustles that you can actually start earning money with right now.
  • See a balance of each gig, looking at schedule, income potential, and growth.

Blogs That Will Pay for Your Tips and Stories

If you love sharing your tips and stories and are looking for some one-off ways to get paid for your words, writing for blogs can be a very lucrative endeavor.

The benefit of this side hustle is that you can get paid well but have no commitment to submit articles on a recurring basis. If you have a great idea just pitch it to one of these blogs to get paid!

ACHS – American College of Healthcare Science is look for posts that are 600-1,000 words long related to your favorite topic on holistic health and wellness. They pay $50 per post.

Income Diary – Income Diary is a blog about making money online. If you’re a marketer or successful entrepreneur this could be a good fit for you. They pay anywhere from $50-$200 per post payable via PayPal.

Great Escape Publishing – This outlet is looking for articles about travel. They pay anywhere from $50-$200, depending on the type of assignment you take on.

iWorkWell – iWork Well is a website for businesses covering a broad range of topics. This site will pay you up to $200 per post.

Breaking Into Magazine Writing

One high-paying writing niche that’s a little tougher to break into is magazine writing.

Writing for a magazine can net you anywhere for $0.10-$2 per word. That can add up to a lot of money. If you’re successful in this niche you can make a lot more versus freelance blogging. The only downside is that your work may be a little less consistent.

If you want to break into magazine writing one of the best places to begin your search is the Writer's Market. This book contains hundreds of different publications that will pay you for your words. Not only that, but the Writer's Market has the name of editors to pitch as well submission guidelines and pay.

This is one book I’ve had on my shelf for a couple of years now and is a wealth of information.

Getting Jobs Off of Popular Job Boards

When I first embarked upon my freelance writing journey job boards were my go-to. I scoured my favorite job boards daily applying to as many writing jobs as I could.

You can find jobs like blog post writing, resume writing, and more on job boards.

Problogger Job Board | Source: The College Investor

Problogger Job Board. Screenshot by The College Investor.

Here are a couple of my favorites:

Problogger Job Board – The Problogger Job Board has many opportunities in many different niches on a weekly basis. Scour this job board daily and apply to anything that seems like a good fit to you.

Freelance Writing Gigs – Freelance Writing Gigs is a blog that scours the web and curates all the best new job offers on a daily basis.

You can find a list of other freelance writing job board sites here.

*Tip* When applying to job boards it’s extremely important that you’re only applying for jobs that you have specific knowledge in. Job Boards can be extremely competitive so the more you can position yourself as the “expert” the higher your chances of snagging that job will be.

Finding Unique Gigs on Craigslist

Another one of my go-to places when I was a beginner freelance writer was Craigslist.

Craigslist is a place you can find unique opportunities. There’s also the possibility of getting scammed on Craigslist so it’s important to do your due diligence and sign a contract before performing any work.

To find writing gigs on Craigslist simply search big cities (like New York or L.A. for example) and then go to the “Jobs” section and click “writing/editing.”

From here you’ll be able to look through the listings and find the work from home opportunities.

find writing jobs on craigslist | Source: The College Investor

Craiglist Job Board. Screenshot by The College Investor.

My favorite job from Craigslist was writing business descriptions for directories. I would write 100 word descriptions of various business (everything from AstroTurf companies to high-end hotels) which would be submitted to directories. I only received $2 per description, but since they were fairly easy to write the money added up quickly.

I usually netted at least $300 a week doing this in my spare time.

Cold Pitch to Find Your Own Clients

After going the job board and Craigslist route for months I finally transitioned to finding my own clients. I found this method to be the absolute best for creating a steady stream of clients who I actually enjoyed working with.

While finding your own clients is probably ideal, there are a few things you’ll need to do to make this work:

Choose a Writing Niche – Pinpoint exactly what you want to write about.

To get jobs you need to establish that you have expertise in a particular subject. Choose a topic that you enjoy writing about but also are very knowledgeable in.

Build a Freelancer’s Websites or Blog – The next step is to make your own little “home” on the internet. If you already have a blog in the niche you want to write in you can simply add a “hire-me” page to your blog.

If you don’t have a blog then create a freelancers website with the domain as your first and last name. You can then add an about me page, a services page, and also be sure to list contact information.

Collect a Few Writing Samples – If you have published work in the niche you want to break into then you’re in good shape! Simply link to those pieces from your writer’s website.

If you have no previous work then you’re going to need to find a blog or business you can submit a couple of articles to for free.

Start Pitching – The next step is to narrow down business and blogs that use freelance writers and pitch them. Be sure to make your pitches customized for each particular business or blog.

Rinse and repeat!

Cold pitching companies can sound a little overwhelming at first but once you get the process down it becomes very simple. If you’re serious about making a living freelance writing this is one of the absolute best ways to get a steady stream of paying clients, I promise!

If you want to start a freelance writing business (especially for bloggers), check out this course: Freelance Writing For Bloggers. It will teach you everything you need to know about how to start writing for online publications.

Get Paid to Write

If you’re interested in earning some extra income by writing I hope that one of the ideas above has inspired you to take action!

Freelance writing can be a fantastic way to earn money and can even lead to full-time income if you can consistently produce quality work.

Do you have any questions about earning money through freelance writing?

Editor: Robert Farrington Reviewed by: Colin Graves

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20 Best Side Hustles That Earn The Most Money https://thecollegeinvestor.com/23078/best-side-hustles/ https://thecollegeinvestor.com/23078/best-side-hustles/#comments Sat, 23 Nov 2024 16:16:03 +0000 https://thecollegeinvestor.com/?p=23078 There are a lot of ways to make extra money online and offline, but what are the best side hustles to make it happen? We break it down.

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Best Side Hustles | Source: The College Investor

Source: The College Investor

It can be challenging to find a side hustle that's worthwhile. The best side hustles allow you to make the most money, while also balancing your time and growth potential.

Side hustling can allow you to earn that little bit of extra money that can help you achieve your financial goals faster - whether it's paying off student loans or saving for retirement. But finding the best side hustle can be tough - you don't want to waste your time or money - you want to start earning!

There are a lot of side hustle ideas out there (here's our list of 50+ Side Hustle Ideas). I'm a huge fan of earning more money, and I think everyone should have a side hustle. My goal today is to show you the best side hustles you can start AND why. 

I have three main criteria for side hustles, which I talk about below.

  1. Earning Potential
  2. Scheduling
  3. Growth

Each one of the ideas below strikes a good balance of these. Let's break it down. 

Best Side Hustles Infographic | Source: The College Investor

Source: The College Investor

More Information About The Best Side Hustle Table

Want an HTML version? See below:

Side Hustle

Earning Potential

Scheduling

Growth

Deliver Food And Groceries

$600/mo

8/10

3/10

Ridesharing

$1,000/mo

10/10

3/10

Start A Blog

$1,000/mo

10/10

10/10

Tutoring As As Side Hustle

$400/mo

4/10

4/10

Online Freelancing

$5,000/mo

7/10

8/10

Online Surveys

$50/mo

10/10

1/10

Rent Your Car

$600/mo

10/10

3/10

Deliver For Amazon

$600/mo

2/10

2/10

List Your Home Or Room For Rent

$1,000/mo

6/10

4/10

Rent Space In Your House

$250/mo

10/10

3/10

Resell Stuff

$1,000/mo

10/10

5/10

Create Stuff To Sell

$600/mo

10/10

8/10

Help People Move

$300/mo

4/10

3/10

Be A Handyman

$500/mo

4/10

3/10

Babysitting

$500/mo

4/10

3/10

Dogsitting or Dogwalking

$500/mo

4/10

3/10

Become A Mobile Notary

$500/mo

4/10

3/10

Start Streaming

$150/mo

3/10

8/10

Work Odd Gigs

$300/mo

3/10

1/10

Sign Up For Freebies

$50/mo

10/10

1/10

Our Picks Of The Best Side Hustles

Here's our list of the best side hustles that you can do today to start earning more money.

1. Deliver Food And Groceries

Right behind ridesharing is delivering food and groceries. This has become one of the fastest growing trends nationwide, and as such, it's also one of the best side hustles. If you don't like people in your car, but still want to make extra money on your own terms, this is a great way to do it.

The only drawbacks are you can't do it all the time (restaurants aren't usually open at 2am), and you may make less that traditional ridesharing. However, it's still a great way to earn extra cash!

How To Start:

  • UberEats - The original food delivery platform still has one of the largest selections and is a great side hustle.
  • DoorDash - Currently the fastest platform, expanding in many cities. Check out the DoorDash review here.

Earning Potential: $600 per month

Schedule: 8/10

Growth Potential: 3/10

2. Ridesharing

Harry Campbell | Source: Harry Campbell

Yes, everyone talks about ridesharing - some people love it and some people despise it. However, it's our #2 pick for the best side hustle because it's one of the few side hustle jobs that you can literally do anytime, anywhere. Want to earn some extra money at 2am? You can do it? Don't want a set schedule? That's fine! 

With ridesharing, you can earn when you want, on your terms. It's one of the only side hustles that is truly anytime, anywhere. 

Harry Campbell is The Rideshare Guy, and he built his entire business around driving for rideshare. Now he helps drivers get started. Check out The Rideshare Guy here if you're interested in this side hustle.

How To Start:

Earning Potential: $1,000 per month

Schedule: 10/10

Growth Potential: 3/10

3. Start A Blog

This is my favorite side hustle (this blog was started as a side hustle), but it's not an immediately income-producing opportunity. Starting and growing a blog does take time, but I estimate you can start earning at least $1,000 per month at the 12 month mark - if you do it consistently (e.g. 3x per week). 

But, it does start slow, and it's a lot of work. However, the growth potential of a blog is nearly limitless! So, if you're looking for a long term side hustle, this could be it!

This was one of my earliest side hustles. I started several websites, some of which I still operate (like this one), and others which I've sold. Here's my story of how I built a blog and sold it for $11,000 in my spare time. Basically, if you commit the time to creating the content, you can create a lot of potential for yourself.

How To Start:

Earning Potential: $1,000 per month with 12 months

Schedule: 10/10

Growth Potential: 10/10

4. Tutoring As A Side Hustle

If you're a teacher, or really anyone with a college degree, you can get paid to tutor kids online. One of the hottest growing areas of demand right now is teaching English as a second language online to children overseas. But you can also tutor students in almost any area imaginable! And the demand has never been higher - growing at a rate of 14% per year!

One of the benefits of this is time zone differences. Our nighttime here in the United States is typically the day in other counties - meaning that this is the perfect side hustle if you're looking for something you can do at home, on your computer, at night. 

These companies require you be a teacher or have at least a bachelor's degree. You should also be comfortable teaching over webcam at home - so lights, good camera and mic, and some technical computer skills. 

Remember, you can also tutor any subject offline by finding students in your area. This could be a great way to start a side hustle in an area you're strong at!

How To Start:

  • Tutor.com - One of the largest platforms to connect tutors and students.
  • Skooli - A fast upcoming platform that is growing and hiring teachers to tutor students.

Earning Potential: $400 per month

Schedule: 4/10

Growth Potential: 4/10

5. Online Freelancing

Adrian Brambila | Source: Adrian Brambila

There are so many ways to make money online freelancing. If you can read, write, program, make videos, or are open to learning a variety of skills, you can make money freelancing online. You could even do bookkeeping for other businesses online!

Some areas that are easy to start a side hustle with are online transcription work (think of all the podcasts that need thins), online virtual assistant services, bookkeeping for other businesses and even online social media management.

Adrian Brambila (pictured) has created over a dozen different side hustle income streams using tactics that he shares in his course below. Today, he's a 7-figure online business owner, but it all started with teaching people to dance online. 

The bottom line is that the potential is limitless if you are even a little tech savvy or have writing skills. 

How To Start:

  • The Brambila Method8 days of online training, plus 4 online side hustle ideas you can launch right away, this is perhaps the best course in general online freelancing anywhere!
  • Proofread Launchpad - Learn how to get paid to be a professional proofreader
  • Transcribe Anywhere - Learn how to transcribe audio and get paid online
  • Facebook Side Hustle Course - Learn how to dominate social media for small businesses
  • $10k VA - Learn how to become a high paid virtual assistant
  • Bookkeepers - Learn how to become a bookkeeper and help businesses with accounting online

Earning Potential: $5,000 per month within 12 months

Schedule: 7/10

Growth Potential: 8/10

6. Take Online Surveys

I had to include this on here because there are definitely places that you can make money online. And this is a really low paying opportunity, but one that you can do in your spare time - any time.

In fact, I used to take these surveys when I was in class in college - so I was getting an education and getting paid. Basically, if you can turn on your computer, you can be earning a little bit of money. 

But, the income potential with this is very low with this side hustle. Seriously - very low. But if you're looking to kill time while watching TV, filling out surveys can suddenly become very rewarding.

How To Start:

Check out our full list of paid surveys here.

Earning Potential: $50 per month (sometimes paid via gift card)

Schedule: 10/10

Growth Potential: 1/10

7. Rent Your Car

One of the coolest new ways to build side hustle income is to rent out your car. If you have a car that you don't use often - maybe you're in school or work at home - you can rent it out to others! In fact, I have a friend who bought 3 cars just to rent via these services - and she makes back her payment and more each month!

Just read this story from my friends Heather and Joe. They make a great side hustle income from renting their cars.

These services allow you to list your car for rent on your terms. You set the price and availability - so if you want to drive it, you don't have to worry. Plus, they cover insurance as well! And if you're willing to offer upsells like airport delivery, you can earn even more!

How To Start:

  • Turo - The original car rental service, and one of the largest platforms
  • Getaround - A new competitor that also allows you to rent your car

Earning Potential: $600 per month

Schedule: 10/10

Growth Potential: 3/10

8. Deliver For Amazon

best side hustle: Amazon Flex

Have you noticed those Amazon deliveries that come from people in their own cars? This is called Amazon Flex. With the huge need for delivery drivers to deliver packages, food, and more, Amazon Flex is more in demand than ever.

Unlike other delivery apps, Amazon pays an hourly rate of $18 to $25 per hour. Once you're accepted into the program, you can select two hour windows in which you'll be available - and then you'll start receiving tasks during that time.

Related: 10 Other Ways That You Can Get Paid For Driving

How To Start:

Earning Potential: $600 per month

Schedule: 2/10

Growth Potential: 2/10

9. List Your House Or Room For Rent

Similar to listing your car, you can also list your house, or room, or garage, or any other space you might have where someone could stay. I've even seen people listing their backyard for camping locations! The possibilities are limitless.

It all depends on the property that you're renting how much you can make. I have a friend with a lake house in Michigan that can cover all their expenses and make a small profit in just three months every year. However, I have another friend who just sold their property in Indiana as it wasn't working financially. 

You just need to put in a little effort to make your house or space friendly for potential people to come over, but otherwise, everything can be handled online! Check out our comparison of the top two companies - Airbnb vs Booking.com

How To Start:

  • Airbnb - The original space sharing platform, and one of the largest to let you list your space
  • Booking.com - A huge travel site that allows individual listings

Earning Potential: $1,000 per month

Schedule: 6/10

Growth Potential: 4/10

10. Rent Out Space In Your House

Do you have empty space in your house or yard that you always wondered "could I do something with that?" Well, you can! Rent it out to others who could use it.

For example, do you have a side yard that could store an RV? You could easily rent that space out. Do you have a basement or shed that someone could store their stuff in? Rent that space out! Here's an example of our neighbor's property where they are renting our two RV spots!

Side Hustle: Rent Your Space For RV Storage | Source: Google Streetview

Google Streetview of RV Storage.

There are companies out there that will allow you to rent your space, and you can profit! 

Side note: this is one of my favorite side hustle ideas!

How To Start:

Earning Potential: $250 per month

Schedule: 10/10

Growth Potential: 3/10

11. Buy And Resell Stuff

This was one of the first side hustles I ever did. I would go to garage and estate sales and then start selling the items on eBay or Amazon. And that was after I sold all of my own stuff (you can see my eBay seller account that I start way back in 2002).

Today, the technology has improved so much that there are a lot of people who make this their full time job. Search for flippers on Instagram and you'll see all kinds of people who are hustling and reselling stuff (or even doing online arbitrage). And even better deal - search Craigslist Free Stuff and go get free things to resell. It's possible!

Check out this list of Craigslist alternatives to sell your stuff as well.

How To Start:

Earning Potential: $1,000 per month

Schedule: 10/10

Growth Potential: 5/10

12. Create Stuff To Sell

Julie Berninger sells printables on Etsy as a side hustle | Source: Julie Berninger

Maybe you're not into scavenging for things to sell, but you have the skills to craft things to sell. If so, you can sell your own crafts and products online.

From creating stationary and unique gifts, to household items, to printables or downloadables, the potential for selling your own stuff is limitless. The amazing thing about printables is that you're simply creating a document and you get paid when people download it!

Julie Berninger sells Etsy printables to the tune of $1,000s of dollars per month - and she created an E-Printables course to show you how to do it as well!

How To Start:

Earning Potential: $600 per month

Schedule: 10/10

Growth Potential: 8/10

13. Help People Move

If you have the ability to help people move, you can easily make money in your spare time. Maybe you have a truck, or are strong and can lift heavy furniture.

There are people all over that pay for help moving - from moving their own houses, to when they buy furniture and need someone to help get it home. 

If you're just the muscle, you won't earn as much, but if you have a truck too, you can really earn a lot. 

I've personally used the service to have people help me move, and it's great. You can hire one or two people, and request a vehicle if needed. You can also tip in the app (and if you're the mover, the tip is all yours).

How To Start:

Earning Potential: $300 per month

Schedule: 4/10

Growth Potential: 3/10

14. Be A Handyman

Are you handy around the house? Can you mount pictures or a TV? Can you assemble furniture, or setup a smart home device? If so, you can get paid for doing it for people near you.

If you have the skills, there are people out there looking for help. In fact, this is another service I've used to help me assemble massive amounts of Ikea furniture. The time saving on my end was well worth the cost - and the handyman was great.

If you have even basic handyman skills, this can be a great way to make money side hustling. 

How To Start:

Earning Potential: $500 per month

Schedule: 4/10

Growth Potential: 3/10

15. Babysitting

Do you love kids? Would you enjoy making some extra money babysitting in your spare time? But maybe you don't know anyone who would pay you?

Now there's apps that allow you to connect online with people looking for your services. This makes it easy to be found, and also has a trust factor involved. 

If you have the time and want to do these gigs, they are usually good pay for the work involved. 

How To Start:

  • Sitter City - A platform and app for both babysitting and dog sitting.
  • Care - A huge platform that connects caregivers and those seeking help

Earning Potential: $500 per month

Schedule: 4/10

Growth Potential: 3/10

16. Dogsitting or Dogwalking 

Let's reverse the above - do you love dogs? Would you enjoy making some extra money dog sitting or dog walking in your spare time? But maybe you don't know anyone who would pay you? 

Now there's apps that allow you to connect online with people looking for your services.

In fact, my sister has used both of these apps to book a lot of services for her pup. From finding dog walkers, to dog trainers, to boarding. If you offer these services or have the potential to, they can be a great way to make extra money. 

How To Start:

Earning Potential: $500 per month

Schedule: 4/10

Growth Potential: 3/10

17. Become A Mobile Notary

There is a huge market out there for people that need things notarized. From bank forms, to loan documents, people need things notarized - and they're willing to pay for you to come to them.

Becoming a mobile notary is a basic entry to getting paid for your time and signature. If you want to take it up a notch, you can become a loan signing agent - where you help people sign all those documents required by lenders.

The amazing thing is that you could get paid anywhere from $75 to $200 per hour doing this, once you're experienced.

How To Start:

Earning Potential: $500 per month

Schedule: 4/10

Growth Potential: 3/10

18. Start Streaming

Are you into online gaming? Do you like to play and chat with other players? Are you willing to consistently put in the time and effort to get online everyday at the same time?

If so, then starting a Twitch channel (and related YouTube and Discord) could be a great way to start side hustling this year.

Twitch has a $100 payout minimum to use the platform, and reports are that of those regularly earning from streaming on Twitch, they are making $25 to $130 per month. But if you build a following, there is huge growth potential. Plus, hopefully you love to play video games anyway!

How To Start:

Earning Potential: $150 per month

Schedule: 4/10

Growth Potential: 8/10

19. Work Odd Gigs

This is one of my favorite ways to make money if you really have no idea what you want to do. Have you ever noticed people doing odd gigs around town - maybe working an event, or helping at a fair, or something that's just a one-off.

Well, you can find these gigs online and get paid to do 1 or 2 day random events. If you go to Craigslist -> Gigs, there are a bunch of listing for people looking for help with a random event.

It's not consistent work, but it's quick and easy to get paid. 

How To Start:

Earning Potential: $300 per month

Schedule: 3/10

Growth Potential: 1/10

20. Sign Up For Freebies

Here's another fun side hustle that doesn't have a huge amount of earnings potential, but definitely is a way to put extra money in your pocket. There's a huge list of companies that give away money just for signing up for their product or service!

Check out our full list of places to find free money, but here's a short version of the easiest options below. 

Once again, not an amazing long term side hustle, but if you want to make a little money right now, do it!

How To Start:

Also, check out these lists of bonus offers:

Earning Potential: $50

Schedule: 10/10

Growth Potential: 1/10

What To Look For In Earning Potential

Whenever you're assessing the best side hustle, earning potential is probably going to be your number one priority. However, it will also likely be in relationship to scheduling.

For example, driving and delivering packages has a good earning potential with totally flexible scheduling. If you were going to compare this to working a second job, there is low earning potential and poor scheduling.

Earning potential also depends on your time horizon. If you have the time to invest in your side hustle, you can likely grow your earning potential over time. However, if you need immediate income today, you likely won't have huge growth potential.

For our rating, we share the dollar amount you can potentially earn each month.

Best Side Hustles: How Much Can You Really Make?

Let's be honest - how much can you really make side hustling? With the best side hustles we list above, the amount is truly limitless. 

I can tell you from my own personal experience, I've made thousands side hustling. Here's a couple of my own stories:

Selling on eBay: When I was buying and reselling collectables to sell online, I was able to net up to $2,000 per month after fees and expenses (like shipping, packing, etc.). It took about 20 hours per month to earn that. That time was spent going to garage sales, listing items online, and then packing and shipping.

Freelance Writing: When I was freelancing writing, I was able to earn about $10,000 per year working about 5-10 hours per month. The amazing thing about freelance writing was I could scale up as needed. While most months I would earn about $500 (writing 5 articles or so), some months I would ramp that up to $1,500 by writing more. It's more work, but more income as well.

How To Find Flexible Scheduling

A key factor in side hustles is flexibility. If flexibility didn't matter, you would just go get a job. But the reason most people are looking for a side hustle is because they are trying to easily accommodate extra income on the side of whatever they are doing during the day. 

Best Online Side Hustles

The most flexible jobs are all online based (or app based, like ride sharing and delivering). That's why the bulk of this list has online opportunities. By using your computer, the internet, or an app on your phone, you can unlock a lot of side income potential.

However, you can still do many of these jobs offline - especially tutoring. And there is good flexibility and earning potential there as well. But without access to a marketplace, it could be hard to find work (and get paid). 

For our rating, we use a 1 through 10 scale, with 1 being the least flexible, and 10 being the most flexible. To be a 10, this means you can do the side hustle at any time, 24 hours per day, whenever you want.

Related: 80 Ways To Make Money From Home

How To Assess Growth Potential

If you want your side hustle to grow over time, you need to think about growth potential as well. Some of these jobs have no growth potential. Others, like starting a blog, have huge growth potential.

This is really a personal question about where you want your side gig to go. Some people might just want some extra money for Christmas. Other people may want to try and scale their side hustle into their full time job. 

There is no right or wrong answer here, but you should realize the future potential when you get started. 

For our rating of growth potential, we use a 1 through 10 scale, with 1 being no growth potential, and 10 being unlimited growth potential. For example, we consider filling out surveys to be a 1, because no matter what, you're really not going to have any potential to earn more money here.

What About Taxes?

One of the biggest "what ifs" I hear about doing a side hustle is "what about paying taxes on your side hustle earnings". The short answer is yes - you will pay taxes on your earnings. But as a side hustle, your earnings are technically "self employment earnings". This means that you'll only pay taxes on your net earnings.

What are net earnings? This is your profit from side hustling after expenses. For example, if you drive for ridesharing, you'll have mileage you get to deduct. The 2024 mileage rate is $0.67 per mile, according to the IRS.

So, if you drive 100 miles, you might earn $95 for those rides. However, you get to deduct the mileage - $6.70. So, you'll only pay taxes on $88.30.

Final Thoughts

Hopefully these give you some good insights into what I think makes a good side hustle. Plus, this list of the best side hustles goes a long way to making things happen.

Remember, the key to the best side hustles are balancing both your earning ability with scheduling and growth potential.

If you're still on the fence and want other ideas, check out these articles:

Editor: Colin Graves Reviewed by: Ashley Barnett

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10 “Easy” Ways To Make An Extra $100 Per Month https://thecollegeinvestor.com/12664/10-ways-make-extra-100-month/ https://thecollegeinvestor.com/12664/10-ways-make-extra-100-month/#comments Sat, 16 Nov 2024 16:51:15 +0000 https://thecollegeinvestor.com/?p=12664 When you're working toward your financial goals every little bit of money counts. Here are 10 ways to make an extra $100 per month.

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Make An Extra $100 Per Month | Source: The College Investor

Source: The College Investor

Are you strapped for cash? Looking for ways to make an extra $100 a month or more?

I know you care about your personal finances or else you wouldn’t be reading this blog.

But if you’re like me there are times when you feel a slight ping of envy that others are able to save and invest so much money. They just make it look so easy!

Luckily, when it comes to saving, paying off debt, and investing, an extra $100 a month can really add up fast!

That's why we're big believers that it's not just about saving money each month, but solid financial plans should also focus on earning more money each month.

If you’re looking for ways to make a little bit of easy cash here are 10 ways to make an extra $100 per month.

# 1 – Tutor

If you’re in college chances are you’ve got in demand knowledge on particular subjects. A great way to profit from your knowledge is tutor high school aged kids who are struggling.

Parents of struggling high school and elementary aged students would love to have a college student tutor their children. Advertise your services in places that are sure to catch the eye of parents.

Check out our guide on how to get started tutoring in college (and you can do it online as well).

# 2 - Driving With Uber Or Lyft

Driving with Uber or Lyft is one of the most convenient ways to earn extra money, especially if you enjoy driving and want the freedom to choose your hours. With ridesharing more popular than ever, drivers can make a solid income by putting in consistent effort.

For women and non-binary drivers considering ridesharing, Lyft’s Women+ Connect feature offers an additional layer of comfort and control. This option allows women and nonbinary drivers to match more often with women and nonbinary riders, making the driving experience feel more welcoming. Women+ Connect can be enabled in the Lyft Driver app and turned on or off as needed, adding flexibility to the already customizable nature of rideshare driving.

If you’re interested, you can sign up to drive with Lyft and see what bonuses they’re currently offering for new drivers. 

Prefer to deliver food instead? UberEATS provides an option for those who’d rather deliver meals than take passengers. For Lyft, signing up can also bring in extra earnings, and you’ll have the chance to explore Women+ Connect, adding another level of ease to your driving experience.

# 3 – Babysit Or Dogsit

If you have patience and a place where you can babysit you can earn extra cash from the comfort of your home.

The babysitter I use charges $20 per day per kid. This is actually a pretty low price so you may be able to get much more money for your services.

Just don’t take on too many kids at once. Babysitting is definitely a job that can be frustrating at times depending on the ages of the kids you’re watching. Keep that in mind.

And you don't just have to watch kids... you can watch people's other type of kids - dogs. Dog walkers and dog sitters are in high demand. Check out Rover and see if you can snag a gig.

# 4 – Write

There are all kinds of ways you can earn money from freelance writing.

You can write for blogs, magazines, content mills, or local businesses. Your first step in finding a writing job is deciding what kind of writing you want to do.

By writing for magazines you can earn as much as $500 an article – but this is a harder field to break into. If you choose to write for blogs you can average $20 - $25 per blog post when first starting out. Or, if you’re looking for the really easy route you can write for a content mill. Just be aware that content mills will pay the least amount of money.

If you want to get started, check this out: How To Get Paid To Write.

# 5 - Sell Your Junk

If you’ve been holding on to too much stuff for a while why not de clutter and make money while you’re at it?

You can sell clothes, shoes, and home décor fairly well on Facebook Yardsales. For items like DVDs, CDs, college textbooks, and video games give Amazon a try. For large items Craigslist will do the trick.

Here's 10 crazy ways to earn $10,000 - and a lot of it involves selling junk.

# 6 - Sell Other Peoples Junk

If you’re good at selling your own stuff you can take it a step farther and sell other peoples unwanted items.

To do this you’ll need to draw up a contract which states you get a commission for successfully selling an item. You can try doing this with your friends and family first and if it works good advertise your services to others.

Then, take their junk and sell it online. This online arbitrage can be a lucrative way to make some extra money.

# 7 – Sell Photos

Stock photos are in demand. If you’re a photographer or just enjoy taking photos you can actually make money by selling them.

The cool thing is that you can sell the same photo over and over again. All you do is create an account with a place like shutterstock.com and every time someone buys one of your photos you’ll receive a commission.

If you build up a large portfolio of photos you can enjoy repeat passive income.

# 8 – Join a Focus Group

Businesses use focus groups to help perfect their product or service. When you attend a focus group you’ll be giving your opinions and reviews on a certain product or service. The best part is that you get paid for doing this!

There are focus groups in all types of areas. Some focus groups are conducted online while others are conducted in person. To find a focus group to participate in just perform a Google search for “focus groups in your area.”

There are also online focus groups and surveys that you can take to earn money. Here's a couple of our favorites:

# 9 – Clean Houses

There are many people who either hate cleaning their house or just don’t have time for it. If you enjoy cleaning or can at least put up with it to earn some extra cash, this can be an easy solution for you.

You can charge around $50 per house meaning you’ll only have to clean two houses per month to earn your extra $100!

# 10 – Become a Mystery Shopper

Mystery shopping is one of those side gigs that feels too good to be true: you get paid to buy things!

Many companies will offer you money to go in and buy a certain product and review the service you get. Other jobs will be based on service only. For instance you’ll have to test drive a car and rate the service you received at a dealership.

Either way you can easily earn an extra $100 a month by becoming a mystery shopper. You can find mystery shopping jobs at bestmark.com

Other Ways to Make an Extra $100 a Month

Here are some more ways you can make an extra $100 a month.

  • Become a Search Engine Evaluator
  • Offer Painting Services
  • Detail Cars
  • Blog
  • Become an Affiliate
  • Participate in Medical Research
  • Do Independent Sales

If you’re in need of some extra cash but are strapped for time give one of these ideas a try. You never know you might enjoy your new side hustle and bring in an extra $1,000 a month!

What are some other ways to make an extra $100 a month?

Editor: Colin Graves Reviewed by: Ashley Barnett

The post 10 “Easy” Ways To Make An Extra $100 Per Month appeared first on The College Investor.

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30 Passive Income Ideas To Build Wealth https://thecollegeinvestor.com/16399/20-passive-income-ideas/ https://thecollegeinvestor.com/16399/20-passive-income-ideas/#comments Fri, 15 Nov 2024 13:00:00 +0000 https://thecollegeinvestor.com/?p=16399 Looking to start earning some passive income? Here are thirty passive income ideas to choose from. Some require a monetary investment while others require time. Which one is your favorite?

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Passive Income Ideas | Source: The College Investor

Source: The College Investor

If you're looking for passive income ideas, you may think the whole concept is a myth - there's no way that you can earn money by doing nothing. It's why passive income is highly sought after, yet often misunderstood.

The truth is, passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time and hard work these income streams start to build and are able to maintain themselves, bringing you consistent revenue without much effort on your part.

Speaking from personal experience, adding passive income streams to your portfolio can help you increase your earnings and accelerate your financial goals in tremendous ways. For example, starting a savings account and earning interest, or investing in dividend paying stocks can all start adding income to your life without having to work! Your money is working for you!

For example, you can use passive income streams to help you get out of debt or achieve financial independence sooner. 

Let's get to the passive income ideas!

What is Passive Income?

Passive income is unearned income derived from investments. This investment is typically a monetary investment, but it could also include an upfront time investment.

Passive income is different than active income: your job. The goal is to not have to work directly for the money you earn. Read our full guide to What Is Passive Income?

What It Takes To Earn Passive Income

Before we get into the passive income ideas I think it’s a good idea to first clear up a couple of misconceptions. Although the word “passive” makes it sound like you have to do nothing to bring in the income this just isn’t true. All passive income streams will require at least one of the following two elements:

1) An upfront monetary investment, or

2) An upfront time investment

You can’t earn residual income without being willing to provide at least one of these two. Because it's important to remember what passive income is NOT. Passive income is not your job, it's not freelancing, or working online. Passive income is doing something once, then earning rewards from it into the future.

Here's a good example of how I view passive income and how it fits into your portfolio of assets:

Buckets Of Investing Infographic | Source: The College Investor

Source: The College Investor

Today, I have a big list of passive income ideas you can try regardless of the category you fall in.

Check out this list of passive income ideas here:

Passive Income Ideas Infographic | Source: The College Investor

Source: The College Investor

Passive Income Ideas Requiring an Upfront Monetary Investment

These types of passive income require you to invest money up front to generate the passive income later. Don't be alarmed though - you can start with as little as $5 with some of these ideas, so it's achievable for everyone. For most people creating a passive income strategy, putting a little money in investments or savings is the best place to start.

1. Dividend Stocks

Are Dividend Stocks Worth It?

  • Requires Up Front Money
  • Very Passive
  • Huge Income Potential

Investment income is my favorite type of passive income.

Dividend stocks are tried and true way to earn passive income. You will have to do plenty of research to find good stocks and invest a significant amount of money to receive large dividend checks. However, if you consistently invest money into dividend stocks you can amass a nice residual income over time. 

For any of these investment opportunities, make sure you open an account at the best online brokerage, and get rewards while doing it. 

One of our favorite places to invest is Charles Schwab. You might not have heard of Schwab, but it's a FREE investing platform that allows you to build a portfolio, and invest in it for free.

Since the platform is commission-free, you can invest in dividend stocks with no trading costs. That's amazing. Want to reinvest your dividends? That's free too! This is why Schwab was voted one of the best brokerage firms of 2024
.

Read our full experience with Charles Schwab here.

How To Choose The Right Dividend Stocks

  • Look for companies with a history of consistent dividend payments
  • Research dividend yield and payout ratios
  • Diversify your portfolio to minimize risk

If you're uncertain about choosing individual stocks, look for high dividend paying ETFs or mutual funds.

passive income: charles schwab dividend stocks

2. Single-Family Rental Properties

Are Single Family 

Rentals Worth It?

  • Requires Up Front Time and Money
  • Semi-Passive
  • Large Income Potential

A cash flowing rental property is a fantastic way to bring in a monthly income. To make this truly passive you can outsource the running of the properties to a management company.

However, the internet has made investing in rental properties easier than ever before. There are a lot of ways you can invest in rental properties depending on what your goals and interests are. You can be a limited partner in large residential or commercial properties, or you can buy homes and be a landlord - all online!

Invest In Single Family Homes

If you're looking for a more traditional path to real estate investment, check out Arrived Homes. This company allows you to buy cash-flow positive single family rentals - online! You can sign up and start searching properties today. Check out Arrived here.

The great thing about using a platform versus doing it yourself is that the income is even more passive. Check out our full experience with Arrived here.

Tips For Successful Rental Property Investing

  • Choose properties in high-demand areas
  • Ensure positive cash flow
  • Consider using a property management company
passive income idea: arrived homes rental property

3. Larger Real Estate Developments

Is Real Estate Investing

Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

Do you not want to be a landlord, but still want real estate exposure and income? Then consider being a limited partner in a large development. With these options, you can invest in multi-family or commercial properties. You get the income and tax treatment just like regular real estate ownership, but you don't do any of the work!

Our favorite platform for this is RealtyMogul because you get the flexibility to invest as little as $1,000, but can also participate in REITs and private placements – typically not offered to the public. Investors can fund real estate loans to gain passive income or buy an equity share in a property for potential appreciation. Their platform is open to both accredited and non-accredited investors.

Read our full experience using RealtyMogul here.

Benefits of Crowdfunded Real Estate

  • Access to real estate investments with lower capital requirements
  • Diversification across multiple properties
  • Professional management of investments
Best passive income ideas: invest in real estate developments with RealtyMogul

For Accredited Investors

One of my favorite ways to get started with rental properties is through EquityMultiple. Similar to LendingClub, you can start investing in real estate for as little as $5,000 at platforms like EquityMultiple.

This platform has a nice mix of smaller residential to mixed use residential and commercial properties. Read our full EquityMultiple review here.

passive income ideas for accredited investors: invest in real estate at Equity Multiple

4. Invest In Farmland

Is Farmland Investing 

Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

Farmland isn't sexy, but it has a lot going for it when it comes to real estate investing. It's slow, steady, pays consistent rent, and everyone needs to eat. Plus, compared to other types of real estate its much less volatile.  There's two major companies that allow you to invest in farmland. FarmTogether and AcreTrader.

We recently did a behind the scenes review of our own AcreTrader investment, and you can watch the AcreTrader review video on YouTube.

Check out our reviews and get started:

Benefits of Leasing Farmland

  • Steady rental income
  • Land appreciation potential
  • Minimal management responsibilities
passive income ideas: invest in farmland with Acretrader

5. High Yield Savings Accounts And Money Market Funds

Are Savings Accounts 

Worth It?

  • Requires Up Front Money
  • Very Passive
  • Low Income Potential

If you don't want to think much about your money, but want it to work for you, a basic place to put it is in a high yield savings account or money market fund.

The difference is in the account type and where it's located. Typically, high yield savings accounts are located at banks, and are FDIC insured. Money market funds can be located at both banks and investment companies, and are only sometimes FDIC insured.

Interest rates have been rising, so putting more money into a savings account can generate a safe passive income stream.

Western Alliance Bank currently offers a solid yield at 4.46% APY with just a $500 minimum to open! Check out Western Alliance Bank here >>

Characteristics of High-Yield Savings Accounts

  • Federally insured up to FDIC Limits
  • Accessible and liquid
  • Low-risk investment

If you want the most up to date rates on high yield savings accounts and money markets, check out these lists that we update the rates daily on:

Western Alliance Bank

6. Crypto Passive Income Opportunities

Is Crypto Worth It?

  • Requires Up Front Money
  • Semi-Passive
  • Moderate Income Potential

Over the last several years, crypto savings accounts have become very popular - simply because they provide the opportunity for higher rates of return on your money. It's important to note that these aren't really "savings accounts". These are investment and lending accounts that allow you to earn a high yield on your crypto "easily". But they're not without risk!

Some popular options are Uphold and Nexo (only available outside the United States). You can earn upwards of 25% APY on your crypto at these companies, but there are risks. Check out our full guide to Crypto Savings Accounts here.

You can also look at staking your crypto, lending your crypto, and even buying NFTs. There are a lot of opportunities to earn passive income with crypto - we put together a full guide here: How To Make Passive Income With Crypto.

Popular Cryptocurrencies for Staking

passive income ideas: uphold crypto staking

7. CD Ladders

Are CDs Worth It?

  • Requires Up Front Money
  • Very Passive
  • Low Income Potential

Building a CD Ladder requires buying CDs (certificates of deposits) from banks in certain increments so that you can earn a higher return on your money. CDs are offered by banks and since they are a low risk investment they also yield a low return. This is a good option for the risk averse to build passive income streams.

For example, what you do if you want a five-year CD ladder is you do the following. Look how the rates rise over different time periods (these are estimated):

  • 1 Year CD - 4.00%
  • 2 Year CD - 4.250%
  • 3 Year CD - 4.50%
  • 4 Year CD - 5.00%
  • 5 Year CD - 5.25%

If building a CD Ladder sounds complicated, you can also stick to a traditional high yield savings account or money market fund. While the returns aren't as amazing as other things on this list, it's better than nothing, and it's truly passive income!

We recommend building a CD Ladder at CIT Bank because they have one of the best CD products available. High rates and even a penalty-free CD option (which currently earns 3.50% APY). Check out CIT Bank here.

You can also look at CD alternatives like Save. Save is a hybrid product that potentially allows you to earn way above market returns, but keeps your principal safe in an FDIC-insured bank account. Check out Save here >>

Check out these great deals on the best high yield CDs on our full list of the best CD rates that get updated daily.

Benefits of CD Ladders

  • Higher interest rates compared to savings accounts (usually)
  • Regular access to funds
  • Reduced risk of interest rate fluctuations since you've locked in a rate
passive income ideas: setup a CD Ladder at CIT Bank

8. Annuities

Are Annuities Worth It?

  • Requires Up Front Money
  • Very Passive
  • Low Income Potential

Annuities are an insurance product that you pay for but can then provide you passive income for life in the form of monthly payments. The terms with annuities vary and are not always a great deal so it’s best to talk to a trusted financial advisor if you’re interested in purchasing an annuity.

These investments aren't for everyone - they can come with high fees, and not be worth it. But if you have zero risk tolerance for loss, and are looking for a passive income stream, this could be a good potential idea for you your portfolio.

Check out Blueprint Income for a marketplace for personal annuities.

Types of Annuities

  • Fixed annuities
  • Variable annuities
  • Indexed annuities
passive income via annuities

9. Invest Automatically In The Stock Market

Are Robo-Advisors Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

If you're not interested in picking dividend paying stocks (and I can understand that), there are still ways to invest passively in the stock market. You can automatically invest in various ways through what's called a robo-advisor.

A robo-advisor is just like what it sounds like - a robotic financial advisor. You spend about 10 minutes answering a few questions and setting up your account, and the system will take it from there.

The most popular robo-advisor is Wealthfront - which you can setup to automatically invest in and they will handle the rest for you. What's great about Wealthfront is that they charge one of the lowest fees in the robo-advisor industry, and they make it really easy to invest automatically. 

Plus, Wealthfront was recently named one of our top picks for the Best Robo-Advisors For 2024. They offer a great service plus you can get advice from a real human, which is awesome. Read our full experience with Wealthfront here.

Sign up for Wealthfront here and get started investing for a passive income! 

passive income ideas: wealthfront roboadvisor

10. Invest In A REIT (Real Estate Investment Trust)

Are REITs Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

If you're concerned about investing directly in real estate, or maybe you're not yet an accredited investor, that's okay. You can still take advantage of real estate in your investments through REITs - Real Estate Investment Trusts.

These are investment vehicles that hold property within them - and you as the owner get to benefit from the gains, refinances, sale, income (or loss) on the property.

Our favorite platform to invest in a REIT is Fundrise¹. They only have a $500 minimum to get started and offer a variety of options we love as well! 

Check out our full experience and review of Fundrise here.

ideas for passive income: invest in a REIT at Fundrise
The College Investor is a non-client promoter of Fundrise. The College Investor receives compensation if you open an account at Fundrise after clicking through a link on this page.The College Investor is a non-client promoter of Fundrise. The College Investor receives compensation if you open an account at Fundrise after clicking through a link on this page.

11. Invest In A Business

Are Business Loans Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

Another way to generate passive income is to invest and be a silent partner in a business. This is very risky, but with risk comes the potential for high returns. For example, several years ago both Lyft and Uber were looking for private investors to invest in their companies. Today, they are worth billions - but you as an investor would only reap that benefit if they go public via an IPO, or get acquired. So, it's risky.

But there are ways to reduce your risk. For example, you can invest small amounts in many companies through lending them money in small bonds.

There are now tools available where you can loan money to a business and get paid a solid return for doing it!

Small Business Loans

Percent is a company that allow you to lend money to businesses in various ways. They are a marketplace for lending, and they offer commercial loans, receivable loans, and more. You must be an accredited investor, but if you're looking for more risk and reward, it could be an option. Read our full experience and Percent review here.

passive income ideas: business loans

12. Invest In Student Income-Share Agreements

Are ISAs Worth It?

  • Requires Up Front Money
  • Very Passive
  • Moderate Income Potential

An Income-Share Agreement (ISA) is an alternative to student loans. By using an ISA, a student’s tuition is paid for in exchange for a percentage of their future income.

Who is funding these ISAs? Private investors and universities fund them. Investors basically take a bet on a student’s future.

You see these most commonly at coding academies and trade schools, but they are growing in popularity.

Edly is a company that allows you to invest in ISAs. They have two options - one you can invest directly in a note, and the other in a fund that they use for future notes. Depending on timing, there might not be any open notes available in to invest.

You must be an accredited investor to invest, and there is a $10,000 minimum. However, they are targeting 8-14% returns, which is awesome. Read our full Edly experience and review here.

passive income ideas: invest in student loans at edly

13. Peer to Peer Lending

Is Peer-To Peer Lending

Worth It?

  • Requires Up Front Money
  • Semi-Passive
  • Moderate Income Potential

P2P lending is the practice of loaning money to borrowers who typically don’t qualify for traditional loans. As the lender you have the ability to choose the borrowers and are able to spread your investment amount out to mitigate your risk.

Right now, Lenme is one of the last peer to peer lending platforms out there. But these loans are going to be used for personal reasons, so keep that in mind. Check out our full Lenme review here.

What's great about this is that you simply lend your money, and you get paid back principal and interest on that loan.

The median return on cash flow is 3% - which is better than some savings accounts you're going to find today. Check out other CD alternatives.

Lenme Logo

14. Hard Money Loans

Is Hard Money Lending

Worth It?

  • Requires Up Front Money
  • Semi-Passive
  • Moderate Income Potential

Similar to other types of peer to peer lending, hard money loans focus on a specific niche - real estate loans. These loans are typically used for fix and flip projects, or short term bridge loans.

Right now, Groundfloor is one of the oldest platforms in the space that has been creating a marketplace for hard money loans.

However, realize it's not without risk. According to Groundfloor, there was been a 1% loss ratio since they started with their marketplace.

If you're interested, you can get started on Groundfloor for as little as $10. See our full Groundfloor review here.

passive income idea: hard money loan at Groundfloor

15. Become An Angel Investor

Is Angel Investing

Worth It?

  • Requires Up Front Money
  • Semi-Passive
  • Moderate Income Potential

Have you ever watched the show Shark Tank, where the five investors listen to pitches from small companies and then make offers to invest? That's called angel investing - and for many investors, it doesn't look like the show Shark Tank at all!

Instead, most companies pitch their ideas online via email introductions, zoom meetings, and small presentations. And there are even some websites that "syndicate" deals together - where a bunch of people get to together to invest in a startup. And you can be a part of that too!

You have to remember that this is extremely high risk, high reward - but it's totally passive investing. Most startups do fail, and if the company you invest in fails, you could lose all your investment.

If you're looking to become an angel investor, check out AngelList or Propel(x). AngelList probably has the highest amount of deal flow available, while Propel(x) focuses on niche deals.

Tips for Investing in a Business

  • Choose a business with growth potential
  • Assess the management team's competence
  • Understand the exit potential and strategy
passive income idea: become an angel investor at propel

16. Lend Against NFTs

Is NFT Lending

Worth It?

  • Requires Up Front Money
  • Semi-Passive
  • Moderate Income Potential

If you're into the NFT-space, there is a really interesting way that you can make passive income by simply lending to others with NFTs as collateral. What this means in practice is that you create a smart contract with someone who owns an NFT, you agree on an amount to lend to them, a repayment period, and you both digitally sign this contract.

Remember that most NFT lending is done via Ethereum, so you provide the funds in ETH, and they repay you in ETH. If the borrower doesn't repay you in time (or at all), the smart contract will transfer you ownership of the collateral NFT.

Check out this list of platforms where you can do NFT lending.

17. Don't Forget Your Matching Contributions

Is 401k Matching

Worth It?

  • Requires Up Front Money
  • Very Passive
  • High Income Potential

This is one of my favorite passive income ideas, because it's so easy, yet so many people fail at it. It's simple - take advantage of matching contributions for your 401k or HSA.

That's literally free money for simply contributing to your own retirement accounts. By not taking advantage of the match, you're leaving free money on the table.

All you have to do is ensure that you're contributing enough to your 401k or HSA so that you get the full matching contribution. For your HSA, your employer also might require you to take action - like taking a health assessment or getting a physical. But all that free money can add up!

2024 401k Contribution Limits

Note: If you have old 401k from past jobs laying around, you should roll them over and make sure they're invested correctly. Services like Beagle and Capitalize can help.

Passive Income Ideas Requiring an Upfront Time Investment

The next section of passive income ideas require a time investment. Instead of using money, you need to put in sweat equity to make these happen. This is related to a side hustle. Our guide to the best side hustles can help you find ideas that require a time investment - which can then springboard you into a passive income stream. 

Almost all of these ideas require starting a personal blog or website. But the great thing about that is that it's incredibly cheap to do. We recommend using Bluehost to get started. You get a free domain name and hosting starts at just $2.95 per month - a deal that you won't find many other places online! You can afford that to start building a passive income stream.

18. Sell an eBook Online

Are eBooks Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Moderate Income Potential

Self Publishing is mainstream today. When you purchase an eBook off of Amazon there’s a pretty good chance you’re buying a self-published book. Self-publishing is also ridiculously easy. I tried this a few years ago and couldn’t believe how simple the process was.

To self-publish a book you’ll first need to write and edit it, create a cover, and then upload to a program such as Amazon’s Kindle Direct Publishing. Don’t expect instant success though. There will need to be a lot of upfront marketing before you can turn this into a passive income stream.

A similar option is to create printables that you can sell online. Printables aren't as in-depth as a full eBook, so they are easier to create and you can still earn a passive income on your sales! Learn how to create online items to sell on Fiverr and Etsy in your first day of this online course that teaches you what to do: The E-Printables Selling Course.

Tips for Successful eBook Publishing

  • Identify a profitable niche or topic
  • Create engaging, well-written content
  • Promote your book through various channels

19. Create an Online Course To Sell

Are Online Courses Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Moderate Income Potential

Udemy is an online platform that lets its user take video courses on a wide array of subjects. Instead of being a consumer on Udemy you can instead be a producer, create your own video course, and allow users to purchase it. This is a fantastic option if you are highly knowledgeable in a specific subject matter. This can also be a great way to turn traditional tutoring into a passive income stream!

Similar to Udemy, you can start a YouTube channel where you teach high demand subjects, and you can monetize via ads. You do the work up-front to create the videos, and then you enjoy the passive income steams from the ads for years to come!

Check out Udemy here to get started >>

Tips for Creating a Successful Online Course

  • Identify a high-demand subject
  • Create engaging and informative content
  • Market your course effectively

20. Selling Stock Photos

Is Selling Stock Photos

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Moderate Income Potential

Do you ever wonder where your favorite websites, blogs, and sometimes even magazines get their photos? These are normally bought from stock photo websites. If you enjoy photography you can submit your photos to stock photo sites and receive a commission every time someone purchases one of them.

One of the biggest marketplaces to sell stock photos is DepositPhotos. You can upload your photos are earn money whenever someone uses them.

In fact, check out this awesome story of one of our scholarship contestants who turned photography into a stock photo business.

21. Licensing Music

Is Licensing Music

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Moderate Income Potential

Just like stock photos you can license and earn a royalty off of your music when someone chooses to use it. Music is often licensed for YouTube Videos, commercials, and more. 

With the amount of YouTube videos and podcasts that are being created, there is more demand than ever for music - and people are willing to pay for it.

The key way to do it is to get your music in a library that people can search. Check out this guide on how to license your music.

If you already have a license and want to sell it for cash, or if you're looking to buy music licenses to earn income, check out Royalty Exchange. This platform connects artists with those looking to build a royalty revenue steam. 

Popular Stock Audio Platforms

  • AudioJungle
  • Pond5
  • PremiumBeat

22. Affiliate Marketing

Is Affiliate Marketing

Worth It?

  • Requires Up Front And Money Time
  • Semi-Passive
  • Moderate Income Potential

Affiliate marketing is the practice of partnering with a company (becoming their affiliate) to receive a commission on a product. This method of generating income works the best for those with blogs and websites. Even then, it takes a long time to build up before it becomes passive.

Larry Ludwig is a 25 year expert on marketing and he built (and retired early) by creating websites that earned passive income with affiliate marketing. We're known Larry for a long time and definitely knows what he's talking about.

Larry Ludwig creates passive income

If you want to get started with affiliate marketing check out this course on affiliate marketing and how to become a full time blogger.

How to Succeed in Affiliate Marketing

  • Choose a niche with a strong audience
  • Promote products relevant to your audience
  • Build trust and credibility through quality content

23. Design T-Shirts

Is Selling T-Shirts

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Moderate Income Potential

Sites like Cafe Press allow users to custom design items like T-shirts. If your design becomes popular and makes sales you’ll be able to earn royalties. Plus, the passive income stream of this is that you can setup print on demand services so that you don't have to have any inventory and orders simply get fulfilled when customers order them.

Even Amazon has gotten into this business of print on demand. Amazon has a new service called Amazon Merch, where you simply upload your designs and Amazon takes care of the rest (making it, packing it, and shipping it). 

Popular Merchandise Platforms

  • Teespring
  • Redbubble
  • Zazzle

24. Sell Digital Files

Is Selling Digital Files

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Low Income Potential

I’ve been into home décor lately and I had to turn to Etsy to find exactly what I wanted. I ended up purchasing digital files of the artwork I wanted printed out! The seller had made a bunch of wall art, digitized, and listed it on Etsy for instant download. There are other popular digital files on Etsy as well such as monthly planners. If you’re into graphic design this could be an amazing passive income idea for you.

Adrian Brambilia is an online marketer that has developed a huge amount of passive income streams over the last few years. If this is something you're curious about, check out this course by Adrian Brambila that can help you get started.

Adrian Brambila earns passive income through a lot of online marketing tactics

In fact, we sell digital files too. I re-used my first resumes and cover letters as a digital product so that other college graduates could get a head start. Check out my professional resume templates here.

Popular Places To Sell Digital Files

  • Etsy
  • Teachers Helping Teachers
  • Gumroad

Semi-Passive Small Business Ideas

I call these semi-passive income because they are more like a business, less like the ideas above. They all also require a small combination of time and money investment. But once you invest, you can earn more income and typically do so passively. 

However, these all do require some ongoing time investment, so they aren't 100% passive like having a savings account.

25. List Your Place On Airbnb

Is Listing On Airbnb

Worth It?

  • Requires Up Front Time And Money
  • Semi-Passive
  • Moderate Income Potential

If you have a house, apartment, spare room, or even backyard, consider listing your property on AirBNB and start earning money when you get your place booked. Sign up your place today.

AirBNB is great because you can earn money on a space you already own. It does require a little work up front to prep your place, list it, and clean up after guests, but it's pretty passive otherwise.

All the ways to make money in real estate | Source: The College Investor

Source: The College Investor

26. Rent Out Your Space

Is Renting Your Property

Worth It?

  • Requires Up Front Time And Money
  • Semi-Passive
  • Moderate Income Potential

Maybe you don't have a room to spare, or a whole other house (who can afford it)? But maybe you have space that you can rent for people needing storage. That's where Neighbor comes in.

With Neighbor, you can rent space you're not using to others to store their stuff. Some common things that people rent are driveway space or parking space for car or RV storage, garage storage space, and business storage space.

Check out the Neighbor app here and start earning passive income from renting out random space you have. You can also check out our review and experience with Neighbor.

Tips for Renting Out Storage Space

  • Ensure a secure and clean storage environment
  • Set a competitive rental rate
  • Advertise your space on local platforms

27. Rent Out Your Car

Is Renting Your Car

Worth It?

  • Requires Up Front Time And Money
  • Semi-Passive
  • Moderate Income Potential

Similar to listing your place for rent, you can also list your car for rent. This can be truly passive because once you list your car, it can earn you income when you're not using it!

Our favorite partner to rent your car is Turo. Turo allows you to put your car out for rent, and when people rent it, Turo handles the rest!

The cool thing with Turo is that, depending on your location and what kind of car you have, you can make a decent passive income! 

Check out Turo here and get started earning passive income with your car! Check out our list of other ways to make money with your car as well (most of the others aren't passive though).

Popular Car-Sharing Platforms

  • Turo
  • Getaround
  • HyreCar

Easy Passive Income Ideas

Last on the list I wanted to point out a couple of easy passive income ideas. These require no money and no upfront work. While the earnings are menial you still can’t beat easy passive income!

28. Cashback Sites

Are Cashback Sites

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Low Income Potential

Just like cashback rewards cards you should opt to use a cashback site when shopping online. If you don’t you’re giving up free money that requires little to no work! We just compared the two most popular sites - Rakuten versus TopCashBack.

All you have to do is login to these sites before you make a purchase, click the link, and you'll earn the percentage cash-back the site offers.

If you want to know which sites are offering the highest cashback, check out Cashback Monitor - a free comparison site that finds you the best cashback deals out there.

29. Get Paid To Have An App On Your Phone

Are Phone Apps

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Low Income Potential

What if you could install an app on your phone, and get paid for it? Yes, this app tracks what you're doing and it sells your data - but what's more passive than that?

If you don't want to do anything out of the norm, check out Neilson Digital. You simply download the app and do what you normally do. The app runs in the background and you are entered to win rewards. Simple, easy way to get money for nothing! Download the app here.

Mobile Expression is a similar app for iPad. You can earn rewards for installing it and leaving it on your device for at least 90 days. And boom! You get paid!

Popular Market Research Platforms

30. Use Cashback Apps

Are Receipt Apps

Worth It?

  • Requires Up Front Time
  • Semi-Passive
  • Low Income Potential

Beyond credit cards and websites, there are also cashback apps that can help you get passive income from the shopping you're already doing.

Dosh, for example, works with 10,000 retailers and all you have to do is download the app and shop. Read our Dosh review here to learn more.

Honey is a browser extension that will find coupon codes and other discounts for any item you're buying. Read our full Honey review here.

How to Get Started

While it can be tempting to want to pick five passive income ideas to get started with I’d really encourage you to pick one in the beginning. You need time and the ability to focus to really a grow a passive income stream. Master one thing before moving on to the other.

It’s going to take a substantial amount of time or money in the beginning but I promise earning passive income is everything it’s cracked up to be! Pick an idea, make a plan, and dedicate yourself until that income stream comes to fruition.

Who Is This For?

Passive income is more than a sexy phrase you hear social media personalities talking about. Passive income is the key to building wealth over the long term. And there are a variety of ways to go about building passive income streams, depending on what your financial and "life" situation is.

Although passive income can take time to build, over time, the income streams you develop can end up sustaining all your income - allowing you to retire comfortably. And the earlier you start, the easier it is. But it takes momentum and consistency over time.

All of the passive income ideas we're talking about require either an up-front investment of time, or an up-front investment of money. And depending on where you're at in life, it might take more of one or other - or a combination. These ideas are designed to spark your desire to start building wealth!

What are some of your favorite passive income ideas?

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