How To Make Extra Money – 6 Passive Income Ideas

The already topical issue of additional earnings becomes even more pressing in times of restrictions. We suggest that you remember what you can do and start making money today. Passive earning is not only a backup option for earning money in the event of a sudden layoff. It is also a way to earn money on the realization of long-standing desires without significant time and financial costs. In this article we will give you some ideas on how to eran passive income.

1 – Real estate or car rental

The safest in this segment is the purchase of finished housing, office and retail space for further rental. Forbes also advices to invest in real eatate as a way to earn passive income. Equity participation in the early stages of construction has a high degree of risk, since in this case, the investor shares the risks with the developer. The downside is the high entry threshold when buying your own real estate.

Renting a car or renting a taxi service requires constant monitoring and knowledge of the nuances of the work of taxi companies and transport companies. You should take into account the wear and tear of the car, the cost of repairs, maintenance, insurance and other factors. The safest option is to use the car as an advertising medium. The amount of earnings depends on the ad space.

2 – Crypto trading

The crypto market is a highly profitable and high-risk investment instrument. It is important for beginners to obey the most important rule –  enter only with money, the loss of which will not cause problems. The number of existing cryptocurrencies and tokens has long exceeded one thousand. With each new ICO, another token appears. If you are just a novice trader, learn all the nuances of cryptocurrency trading and how to earn crypto interest. Use smart trading automation tools like https://zignaly.com/crypto-copy-trading.

3 – Bank deposit

The easiest way to invest funds, a kind of “financial cushion” that will bring the investor a guaranteed income. The depositor entrusts his funds to the bank, which, in turn, invests the received in various projects. With the stability of the bank, the investor can expect to receive a small but stable amount of income. Customer deposits are insured and are subject to return in the event of the financial insolvency of the banking institution.

4 – Shares, dividends, IPO

The basic foundation of the stock market. They account for the bulk of trading; they are used to calculate stock indices. These are equity securities that companies issue when creating authorized capital. Shares come into circulation, which the company exchanges for money, receiving additional capital injections. The investor, as a shareholder, receives the rights to a share of the profits and property. Buying shares in the primary market (IPO) allows you to become an investor in a company, receive shares at the best price and count on a higher percentage of profit

5 – Hobby monetization

If your hobby is tangible, you can sell products or provide services. For example, rent a garage and open a car tuning workshop. Hobby stories through social networks, forums, blogs can also become a source of earnings. Information about the hobby is presented in the form of texts, photos, graphs, diagrams and illustrations. When the main audience is formed, you will begin to receive offers for the placement of advertising content.

6 – Creating a YouTube channel

YouTube is an open platform with a large audience. You can limit yourself to promoting your own channel. But an integrated approach with attracting visitors to the site and promoting the channel on popular social networks will become more effective. To monetize, it is necessary to achieve certain results:

• subscription for more than 1000 people;
• minimum viewing time for the last year – from 4000 hours.

The amount of income depends on the topic of the channel and the content released. For every thousand views, the owner receives from $ 20 to $ 50. With increasing popularity, advertising on the channel will become more expensive, which creates passive income.

The bottom line

Passive income opens up great opportunities for investors who want to securely invest their funds. A well-chosen strategy is a key to success. Competent and thoughtful distribution of capital between financial instruments will allow you to maximally protect yourself from large losses and will become a guarantor of stable and long-term profit.