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20 Money Making Ideas You Should Know

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The following are 20 ways to earn passive income and live a financially sweet live.

PEER TO PEER LENDING

This is a way of rendering a helping hand for a financial gain. Using platforms like Lending Club and Prosper, you can help out others who need a loan but don’t want to use conventional means. When investing in peer-to-peer lending companies there’s a chance of default, meaning the person who took out the loan stopped making payments. As with any investment, there is risk involved in peer-to-peer lending. Fortunately, many platforms have strict underwriting standards that decrease the likelihood of defaults.

Affiliate Marketing

This is one of the oldest method of making money online and it refers to earning a commission for marketing the products of another person or company. You promote the product to others, and you earn a commission when they buy from you through a special link given to you called affiliate link. One of the most common type of affiliate marketing today involves being an “influencer,” which are those social media stars who promote a product on their posts and get paid when a follower clicks. But you don’t have to be a celebrity to succeed in affiliate marketing.

Renting Your House On Airbnb

You can rent your house out even for a short period like weekend and make Money. You can rent it out via sites like Airbnb. Many travelers these days prefer staying in a home instead of a hotel. So, it makes sense to create passive income that can pay for your vacation. And if there’s a big event going on in your area such as a festival or college football game, you could purposely leave (even stay with a neighbor) in order to make your home available and earn big bucks that can finance your next vacation or make a dent in your mortgage.

Crowdfunding Real Estate

If you don’t have much money but want to invest in real estate, you can check out Fundrise, a fintech platform that allows you to make a minimum investment of $500 to $1,000 (along with some required fees) in one of four portfolios. They then invest the pooled assets into commercial and residential properties and offer a return based on performance.

Using Google AdSense

This is also one of the oldest and famous way to make money online. Therefore, if you have your own website, you can become a Google AdSense partner. This means they place ads on your website for you, and you’re compensated every time someone clicks on your ad. The reason this particular program is a great option is because Google selects the ads for you and makes sure they are relevant to your site. That way, they’re more likely to be of interest to your visitors.

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High-Yield Savings Accounts

This is also a good way to make money because you’re literally making money by doing nothing except having your money sitting in the bank. The right bank, that is, as in one that offers a high-yield account. The amount of passive income will depend on the rate of return they offer and how much money you’re able to park in the account.

Real Estate Investing

This infant is one of the traditional ways to make Money. Many people have used it from generation to generation. Do you know that owning your own home is technically real estate investing. Also, flipping houses (buying houses for a cheap price and fixing them up to sell at a profit) and having tenants is another form of real estate investment. With real estate investing, the goal is to earn residual income, which is the income you receive after you’ve deducted your personal debts and paid your expenses.

REITs (Real Estate Investment Trust)

REITs are another way to invest in real estate. These entail investing in a group of real estate assets. You’ll own shares of commercial properties such as office buildings, apartments or malls in the same way you’d own shares of a company’s stock.

Blogging

This post you are reading is part of blogging investment. Blogging is a way of sharing your experience and knowledge about something to people through a web page.Having a well-trafficked or visited blog opens up a host of passive income opportunities including affiliate links, AdSense ads and other ad types such as CPC ( cost per click) or CPM (cost per 1,000 impressions, based on how many people see your ad).

Cash-back

Get paid just to use an app or a credit card? Sign us up! With some of these programs, signing up is literally all you have to do. For example, when you shop through Ebates, you make a cash-back reward for purchasing items you were planning to buy anyway. In addition, you can make your restaurant reservations in select markets through Seated to earn gift cards. And of course, credit card rewards points can be a bonanza. Just make sure you pay off your bill each month or you could rack up more in interest.

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Podcasts

This is like sharing your knowledge with words that are spoken rather than written. Podcasts are gaining popularity right now. You can make passive income with a podcast in many of the same ways as bloggers do – by offering affiliate links and advertising. 

Online Courses

If you have a special skill, there’s probably someone who will pay to learn it. Creating an online course allows you to generate the information once and then earn repeated money from it. This will give you a lot better return than teaching a class in person or tutoring, both of which require your participation each time. Some ideas for online courses are computer skills or DIY skills. A good way to figure out if you’d be a good candidate to create an online course is to think about what people ask you about all the time. There’s your superpower that would translate well to a course.

Dividend Stocks

This means buying a share of a company. With many stocks, you only make money when you sell them, hopefully at an appreciated price. But with a dividend stock, the company takes part of its earnings and sends them to investors each year in the form of a “dividend.” In “up” years, it’s like being paid just to own the stock.

Peer-To-Peer (P2P) Lending

We already drive our peers places and let them use our homes – lending them money was just a matter of time. Using platforms like Lending Club and Prosper, you can help out others who need a loan but don’t want to use conventional means. When investing in peer-to-peer lending companies there’s a chance of default, meaning the person who took out the loan stopped making payments. As with any investment, there is risk involved in peer-to-peer lending. Fortunately, many platforms have strict underwriting standards that decrease the likelihood of defaults.

YouTube Channel

Many people are making money through YouTube now and why can’t you. If you have something you want to share with the world inform of videos then you too might be able to earn money from a YouTube channel just like all the famous YouTubers you’ve heard of. Once you get a certain number of subscribers and hours of video available, you can look into the YouTube Partner Program to find out the steps to monetize your channel.

Put Advert on Your Car

You can really make money from this stuff as many companies are ready to pay you to let them put an ad on your car that will be visible as you drive around.

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Vending Machines

Yes, you’d have to occasionally visit the machine to restock it (and – the good part – empty out the money!), but this passive income stream can otherwise be very low maintenance as you make money off of snackers.

Website Flipping

You can be building websites for sales. You can work on it from start for like six months and sell it off. Many people are making money from that. Websites that are receiving lots of traffic can regularly generate revenue off ads, online courses, products, affiliates and more. And instead of spending countless hours building a website from the ground up, you can buy a pre-existing site that’s already producing income. Using online marketplaces like Flippa.com you can select from hundreds of websites for sale and choose the ones that match your needs. A newly purchased site can generate passive income for you as-is, or you can improve the site with your own content for a greater potential profit.

Landlording

This is one of the popular way to make money. And when people start making money this is the kind of investment they usually target because is consistent and long-lasting. Landlording is a popular passive income stream as it provides predictable returns and can be very fulfilling.

Selling Raw Land

Buying and selling raw Land is a good way to make money and this is what some people are doing. Raw Land start appreciating immediately you bought them. In my area a land that was bought for N100000 was sold for N10,000,000 after ten years. If you have enough money you can buy hectares of land in bushy or undeveloped area and plan to sell it a higher rate later in the future.

E-commerce

This a way of having an online store where you sell your own products or affiliate products. For instance, I used my site Letgoonline.com.ng as e-commerce site to sell affiliate products.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
http://www.money247.com.ng

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