Earning passive income as a side hustle can be a great way to supplement your regular income and achieve financial goals. Here are some ways you can earn passive income as a side hustle:
1. Rental Properties: Owning rental properties can be a good way to generate passive income. You can earn rental income every month without having to do much work once the property is rented out. However, it requires upfront investment and some effort to maintain the property.
2. Dividend Investing: You can earn passive income by investing in dividend-paying stocks. Dividends are a portion of a company’s profits that are paid out to shareholders, and they can provide a steady income stream.
3. Peer-to-Peer Lending: Peer-to-peer lending is a type of lending where you lend money to individuals or businesses through an online platform. You earn interest on the loan, and the platform takes care of the rest. It’s a good way to earn passive income, but it comes with some risk.
4. Affiliate Marketing: Affiliate marketing involves promoting other people’s products and earning a commission on any sales made through your unique affiliate link. You can do this by starting a blog, creating YouTube videos or using social media to promote the products.
5. Create Digital Products: You can create digital products such as ebooks, courses, and printables that can be sold online. Once the product is created, it can be sold repeatedly, providing a passive income stream.
6. Peer-to-Peer Car Sharing: Peer-to-peer car sharing platforms like Turo allow you to rent out your car to others and earn passive income. This is a good option if you don’t use your car often and it’s just sitting idle.
7. Create an App: If you have coding skills, you can create an app and earn money through ads or in-app purchases. Once the app is created, it can generate a passive income stream.
Remember, earning passive income requires some upfront investment, effort and time to set up. However, once it’s set up, it can provide a steady income stream without much ongoing work.