7 Easy Ways To Make Money While You Sleep
Imagine waking up in the morning, rolling over to check your smart phone to find out you’ve made money while you were sleeping. The ability to make money with minimal effort is the cherry on top of financial freedom. This is called passive income, and even for the common person, there are several ways to make money while you sleep.
Investing
There are always businesses making money, and if you can grab onto their coat tails, you can make money too. With a sound investment strategy, and the discipline to set aside some funds each month to invest in your future, seeing how much money you make is as easy as checking the newspaper or a financial website. What you do is get a brokerage account and buy shares in companies that pay solid dividends, or buy shares in mutual or index funds that also have strong payouts.
A really solid app for this is Robinhood. Its got over 20 million users and a solid tech stack. Plus, they’ll give you a bit of free stock for signing up. You can find them here.
Peer To Peer Lending
Peer to Peer lending is really just a specialized form of investing. You pick your risk level, and the amount you want to contribute to help funding a loan to someone. When the loan is paid, you get your money back with interest. This takes zero effort from you, the loan holder could make payments anytime of the day, which means you could make money while you sleep!
Rental Property
This one will take money up front to secure some property. Then, you rent the property to someone else, charging more than your payment (assuming you have one) plus maintenance costs. There will be periodic work that needs to be done, but much of the time when the rent check show up each month you simply watch your net worth grow! Rental real estate has been great for some people – such as the crew over at DINKs finance, they managed to book $11,000 from actively managing their real estate – in just five weeks.
Stock Photography
If you’re good behind a lens, you can sell your pictures on sites like ShutterStock to people (like blog owners!) that are looking for stock photos. People from all over the world can view and pay money to use your pictures. Selling pictures you might already have saved away on your phone or computer is a great way to make money while you sleep!
Start or Buy A Blog
When I’m searching around on the internet, I commonly end up on sites that have advertisements. If I click on an ad and end up making a purchase, I just made someone money. By having your own little space on the web with affiliate ads, you could have people clicking money into your bank account while you’re dreaming about your next vacation.
Sell Your Spare Bandwidth And Browsing History
The reality is that your personal data has some modest economic value for marketers. There are a number of apps that will help you sell your data. These are Nielsen Opinion Rewards, Savvy Connect, Reklaim, Datacy, Kaden and Earn App. I’ve used all of these and have found the most reliable ones are Earn App, Savvy Connect and Nielsen Opinion Rewards.
Rewards Credit Cards
The most lucrative passive income channels are ones in which you get paid to do activities you normally do anyway. We all buy things to get through life; groceries, gasoline, clothes, etc. Why not earn some money back simply by paying with a credit card
How about you Clever Friends, how else can you make money while you sleep?
Lastly, if you are a student and you want to make some extra money, consider checking out Young Finance’s article on ways to make money for college students. It’s a nice little piece of you want to make extra money in your spare time.
Brought to you courtesy of Brock
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Brock is a software engineer by day and personal finance blogger at night. He is a fitness junkie and enjoys grilling and smoking meat. Married with two children, Brock strives to improve his skills as a husband and father, and is always on the lookout to stretch his family’s budget as far as he can.
Polaris Portfolios is a great new robo advisor too for investing!
You can try to find a sponsor for the blogs that tend to attract the biggest number of visitors. The column can be branded or an ad can appear inside a visible open space of the article. Another way is to sell commercial products online. You can put up a page and promote it or Sell your own information product.