7 Passive Money Ideas
Who wouldn’t love to make money while they sleep? As a busy mom, you probably think making an income is out of the question, but today there are many ways to make passive money. Check out my list of favorite ways to earn income with little work involved and find your favorite ways to make money.1. Affiliate Marketing
If you love to write – start a blog. Once you have a nice following, use affiliate marketing to bring money in. It’s simple, you advertise for companies that your audience would love. If they click on your link and make a purchase, you earn a small commission. 2. Sell digital files
If you’re a graphic design pro, create digital files and sell them on Etsy. Artistic prints, calendars, planners, invitations, cards, and labels are just the tip of the iceberg. Create your products once and sell them repeatedly, bringing in passive money while you sleep.3. Create a course
If you’re an expert at something (it could literally be anything today), create a course on sites like Udemy and Teachable. You leverage their incredible audience and market your course. Every time someone buys your course, you earn an income. The course platforms take a piece of the pie to cover their administrative costs, so price your course accordingly.4. Invest with a robo-advisor
If thinking about investing scares you, automate it. Platforms like Acorns make it easier than ever. Link your most used debit or credit card and Acorns rounds up each purchase to the nearest dollar. They sweep the ‘spare change’ into your Acorns account. Once you accumulate $5, they invest it.
It doesn’t sound like much, but every penny adds up, especially when it’s invested.5. Start a dropshipping store
If you love marketing but don’t want the hassle of inventory and running an actual store, open a dropshipping store. You create the website and market the products, but the dropshipper keeps the products, processes the orders, and ships the products. You pay wholesale prices for the products and charge retail prices, keeping the profits.6. Create sponsored posts
If you have a large following on Instagram or Facebook or you know how to get them, put your skills to good use. Choose a niche and get a following. Brands will ask you to sponsor their products or services, which means you promote them on your feed. Every time someone clicks on your link and buys something, you earn a commission.7. Rent out a property
If you don’t mind being a landlord, buy a property, fix it up and rent it out. You earn monthly cash flow after you pay the mortgage. While you have to maintain the property, it’s passive money because you aren’t actively working to earn it daily.
Passive money is a great way to grow your emergency fund, save for large expenses or save for retirement. With a little work up front, you can earn money moving forward with little to no effort on your part.