How To Make Passive Income With $0

How To Make Passive Income With $0

Wouldn’t it be nice to make money while you sleep? I mean, wouldn’t you love to wake up with an influx of cash in your bank account?  I know this concept sounds crazy, but passive income is more than a fantasy.

Let’s face it. Growing up, we were taught to go to school, make good grades so we can have a good job.  However, after a few years in the workforce (and for some it only a few days), sitting at a desk for 40 hours a week just isn’t as luxurious as they made it out to be.

Just think – you could be earning an income while you sleep! If you build up your passive income streams big enough, you could quit your job. To spend more time building your own business, spending with your family, and chasing your own dreams. 

You spend 8 hours building someone else’s dream while forsaking your own.  I begin to spend more time building my dreams because I want to spend more time with my wife than with my boss.

Here are 5 passive income ideas that can help build up some cash in your account to help propel you towards your dreams.

#1- Promote Products and Earn Affiliate Income

If you have a blog, you can make money by becoming an affiliate and promoting products to your readership. Basically, when they click through to the website using your unique link, you will receive a commission on their purchase. This is how many bloggers have grown their income month to month.

#2- Neighbor

Don’t want to make the jump to renting out your home to strangers?  Consider making money off storing people’s “stuff”.  A company called Neighbor proclaims itself to be the AirBnB of storage.

You can turn your basement, garage, spare room, even closet, into passive income and a great side hustle earning up to several hundred dollars a month. In New York City, neighbors  estimate a spare basement rental to generate almost $10,000 per year!

What’s even better is both the renter and host are protected. Hosts are protected up to $1,000,000 for personal liability and renters are eligible for up to $25,000 in case items are damaged during storage.

#3- Invest in Stocks

When you invest in stocks, you become a stakeholder in that company. That entitles you to a share of their profits. Investing in stocks has been a popular way to earn a passive income for years, and thanks to the internet, it’s easier than ever to research and invest in stocks on your own.

Keep in mind that the stocks you invest in can change throughout the various stages of life.  But no one ever gets hurt on a rollercoaster not unless they continue to jump off.

#4- Rent Out Your Car with Turo

Have you ever considered renting out your car?  Share your car whenever you’re not using it and earn an average of $706 per month.  You actually don’t have to do anything, well besides cleaning it. You simply list your car when you are not using it and make money from it with Turo. You’re protected with $1 million in liability insurance, and your car is covered against theft and physical damage.

This is how it work: 

1)List your car (for free)

2)Set your price and rules

3)Welcome your guest

4) Sit back and earn.  You will get to keep 65-85% of the earnings.  That’s depending on the vehicle and the protection plan you choose.

#5- Get Paid to Sleep

Believe it or not, there are companies that will pay you to sleep. The most common ways to earn money this way are to take part in sleep studies or to test mattresses and bedding.  Participating in a sleep study, you can walk out of some of these studies with several thousand dollars in your bank account. Great resources to get started are ClinicalTrials.gov.

For more ways to save, make money, and enjoy life on a budget check out more of the videos on your screen, and I will see you in the next post.

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