When people ask me what I do for a living, I usually have to pause for a couple of seconds because it’s never a straightforward thing I can answer right away. I guess I’m a freelancer by default, but even the stuff I do as a home-based freelancer isn’t as cut and dried as, say, a graphic designer or a voice-over talent. What I actually do is, I have several clients I create content for on a contractual basis, but I also have some sources of income, like paid survey and GPT sites. The difference between the two - my passive income vs active income - is what I want to highlight in this new article.
But first, what is passive income? Basically, it’s a job that generates you income over and over again without you having to report to an employer or a contractor on a daily basis. A common example is if you’re renting out a place to tenants (whether it’s short or long-term). You don’t need to be actively on-site, but you’re earning money from renting it - pretty much as you sleep! Today, I am proud to say that I have several systems for passive income generation in place, which I want to share with you.
1) Take advantage of online referral systems
I think that in several of the reviews I’ve written for GPT and paid survey sites, I mentioned how the referral system is the best way to earn on these platforms, at least for me. Becoming a source of referrals is something you and I can relate to since a lot of us do that when we sign up for new GPT sites, and also in forums like this one. It’s like you can sit back, relax, and collect a portion of the earnings your referrals make. The invention of the percentage bonus is such an awesome one that it’s become one of the first things I look for before signing up to join a new site or program!
2) Put up an affiliate blog
If you already have a blog, why not monetize it so you can get a percentage of every sale of a product or service you pitch in your posts? I’m a fan of the Amazon Associate system because it’s so easy to use and the products I mention are actual stuff I use and love, and therefore want to share with others in turn. And the great thing about it is, even if your blog posts are already a few years old but if people keep clicking on your affiliate links in them, you will earn money no matter what!
3) Start a rental business online
How to create passive income with no money? Rent out stuff you already have! As with people who rent home, office, or commercial spaces (even garages and parking slots), there’s no reason why someone who needs something you already own won’t pay you to use it for a certain period. Of course, the earning potential varies with the kind of stuff you want to lease, but to give you a general idea, here are some articles in this forum discussing some of them at length:
- Rent Out Your Driveway or Garage! Here are 5 Sites to Do That
- Make Easy Money Renting Out Your Driveway
- Offset Your Car Payments by Renting it Out! Scam or Legit?
- Rent Out Your Room And Earn Cash: Top 4 Traveler Companies To Use Over The Internet
If you have writing skills, an area of expertise or passion like gardening, toy collecting, carpentry, etc. and want to make money from that WITHOUT the physical labor that typically goes with it - why not write an ebook? Ebooks, in my honest opinion, are the best example of creating something once then making money from it over and over again. They can make money for you via affiliate marketing (with other blogs or sites that have a similar content). A note of caution though: it needs research, time, and effort for it to be something people will take seriously and actually buy. Ebooks are a dime a dozen nowadays, so yours has to be unique and offer something that others can’t or won’t.
5) Do GPT site tasks
As I mentioned in the first item, generating passive income has become almost synonymous with a money-generating site that has a good referral system in place. But the system of a get-paid-to site is something that is the very essence of a passive income. Imagine doing tasks you will normally do online anyway, and get paid for it! Again, it won’t earn you the kind of money to pay all your bills or the rent or mortgage, but it’s better than spending time all day in front of the computer without generating income, right?
The verdict
There are so many ways to make passive income in your spare time, right in the comfort of your own home, without having to spend a lot of money to get started. Really, it’s almost criminal not to make some extra cash with all the resources and tools available to us in this day and age. If you want to start saving up for something you like or even pay off a loan right away, then these might be good ideas to consider.
Amazon Associate Screenshots
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Your turn
Apart from survey and GPT sites, what other kinds of passive income jobs have you done or are currently doing? Let’s discuss them below!
