Advertising Disclosure: TheSimpleDollar.com has an advertising relationship with some of the offers included on this page. However, the rankings and listings of our reviews, tools and all other content are based on objective analysis. The Simple Dollar does not include all card/financial services companies or all card/financial services offers available in the marketplace. For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheSimpleDollar.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products are presented without warranty.
Here's a far easier way to receive passive income: Use cash-back or rewards credit cards. (If you're carrying a lot of debt or don't have the discipline to use credit cards responsibly, you're best off not using this income-generation method.) You can collect flat-rate cash-back percentages up to about 2% with lots of cards, while some cards offer more focused rewards or cash back based on certain kinds of spending or certain retailers.
Tenants sometimes damage properties, and depending on local laws, they may be hard to get rid of. You'll be the one they call in the middle of the night if the roof is leaking, and you'll have to clean and perhaps freshen up the property between tenants. You can outsource much of this to a property management company, but it will take a cut of your income, often about 10%.
If you have more internet bandwidth than you know what to do with offer to share with your neighbor for a small fee. Label your SSID (the name of your WiFi network) something like “Visit apartment 207 for internet.” If you have fiber optic internet at 50 to 100 mbps you could possibly rent up to 15 people easily and still have lots of bandwidth. This is a great way to earn money fast.
There are five ways to monetize your Twitch channel: selling products, brand sponsorships, fan donations, subscriptions and Twitch ads. As a Twitch streamer, you’ll want to focus on tapping into all five monetization methods to ensure the highest financial gains. You could potentially make more on Twitch than YouTube making it the one of the best money making ideas for video creators.
Hold a yard sale. If you have a yard or garage and plenty of items to sell, you can have a yard sale as early as tomorrow. By advertising your sale on local Facebook pages and Craigslist, you can also skip the paid newspaper ad and keep all of the profits for yourself. If you don’t have time to price everything, try asking patrons to “make an offer” or grouping similar items on tables with an advertised price (e.g. everything on this table is $5).
Become a moving advertisement. “Wrap” your car in an advertisement, go about your usual commute, and get paid monthly to do it. (Some car-wrappers in San Francisco make as much as $400 a month doing this, but of course this varies depending on how big a city you live in and when / how often you make your commute.) You can also get paid to wear a company’s logo t-shirt around (particularly if you wear it someplace conspicuous, like at your school; see ShirtsInSchools.com as one example).
The pay is .25 per minute of talk time. Agents typically make anywhere from $7-$14 per hour. As for the hours, they are totally flexible. You can choose which shifts you want to work each week and the shifts are broken down into half hour increments giving you optimal flexibility. You can even log in and work if you are not scheduled for some impromptu cash.”
Salvage and resell. Do you love antiques or have a knack for finding valuables at flea markets or yard sales? If you do, it might be time to consider salvaging items for resale – or even scouting out antiques to sell for a profit. While you’ll need to spend quite a bit of time searching for prospects and spend some money buying upfront, you could easily turn a profit if you know what you’re doing.
Sell plasma. After passing an initial screening, you can usually sell your plasma for anywhere from $25 to $50 per donation. To qualify, you’ll have to stand in a long line or show up early, be willing to fill out a very personal questionnaire, and endure a painful needle prick or two. Still, selling plasma is a great way to raise money fast – if you can stand the hassle.
Do you do a ton of shopping but don't always keep track of prices after the fact? Did you know that prices online change all the time, and most merchants have a price guarantee program? Paribus is a service that lets you find out if stores you’ve shopped at online owe you a refund. It’s free to sign up. Paribus connects to your email account and checks your receipts. If they find out a retailer has dropped their price they file a price adjustment claim for you.
Recognize that time is money. This critical piece of advice is attributed to Benjamin Franklin, who was an accomplished American inventor, journalist, printer, diplomat, and statesman--the ultimate multitasker. Your ability to manage your time (and stop procrastinating) is a critical ingredient in your ability to make money. Whether you have a job or are self-employed, keep track of what you're spending your time on. Ask yourself "Which of these activities make the most money, and which of them are a waste of time?" Do more of the former and less of the latter, simple as that. When you're focusing on high-priority tasks, get the job done well, and get the job done fast. By working efficiently, you're giving your employer or clients more time, and they'll appreciate you for it. Remember that time is a limited resource that you're always investing. Will your investments pay off?
It depends on where you live. Many public places will require you to have a permit for sales. However, in a nice, family-friendly neighborhood as a kid, it would likely be fine. If you plan on selling street-crafts for a living, find out what the local regulations are and look into the costs of a stall, half shipping container or other form of suitable "pop-up shop" because you will be out there in all sorts of weather and you'll need to protect the crafts.
If you’re looking to make money now, affiliate marketing is a great way to do just that. What is affiliate marketing? In affiliate marketing, you make a commission for every product you sell. While you can make more money dropshipping using Oberlo as you set your own prices, affiliate marketing can be a worthwhile avenue for those looking to sell information products. You can earn money online by signing up to be an affiliate marketer on platforms like ClickBank, CJ Affiliate, Envato and ShareASale.
Know the difference between an asset and a liability. The dividing line is whether it puts money in your pocket, or takes it out. As much as you love your home, for instance, it is a liability rather than an asset because you put more money into it than you get out of it (unless you're flipping it or renting it out). Whatever money you save, invest it in assets such as stocks, mutual funds, patents, copyrighted works--anything that generates interest or royalties. Eventually, you might get to the point where your assets are doing the work for you, and all you have to do is sit there and make money!
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.