Billionaire Warren Buffet once said, “if you don’t find a way to make money while you sleep, you will work until you die.” On the surface, it seems difficult to find a way to make money while in bed.
But in this age of stocks trading, crypto, YouTube tutorials, and passive income apps, everyone has a chance to make extra money online. There’s one catch, though. You need to figure out the best passive income opportunities for you.
In this article, we’ll explain some of the best ways to make extra money online. Let’s get started.
1. Install a Passive Income App
Passive income apps are all the rage in 2022. How do they work and how much money can you make from them? Every app works differently. And the amount of money you can make depends on the app and your hard work.
- Survey Junkie
This app pays you to complete short surveys. You have to qualify for a survey before you get involved. The app pays you in points you can redeem for cash. Each point is worth a cent. However, you need 1000 points to earn $10, which you can redeem for an Amazon gift card.
- Honeygain App
Honeygain app pays you to share extra bandwidth from your cellphone or computer. Confused? Put simply, this app wants you to earn free money online if you can share your Internet connection.
The company uses your bandwidth to complete tasks for their various customers, say digital marketers, advertisers, and programmers. As payment for your shared Internet bandwidth, you get paid credits you can redeem for cash or crypto. You need at least $20 before you can request a payout.
- Swagbucks
Swagbucks is an incredibly popular passive income app that pays you to do normal stuff: Shopping, watching YouTube videos, and filling out surveys. All you need is to join the app and choose an activity to complete.
Like many income apps, Swagbucks pays you in points. You can then redeem your points for cash paid through PayPal or Amazon gift cards. You might not earn a lot of money through the app. But it could help you pay for your Netflix subscriptions or buy groceries for the weekend.
2. Get Paid for your Skills
So, you are a student training to become a programmer? You don’t have to wait until you have your degree to make money. Hundreds of companies are constantly hiring remote programmers every month. And sometimes they pay you much more money than traditional jobs.
Now, you can earn money online for thousands of skills. Think of content writing, music editing, photo editing, web design, tutoring, transcription, and accounting. If you’re skilled at something you can do remotely, find a way to get paid for it online.
The beauty of selling your skills online is that there’s no limit to how much money you can make. If you need proof, join freelancing sites like Upwork, Craigslist (find out more about Craigslist and writing gigs), and Fiverr and research how much money the top earners have accumulated over time. Cue: some of them are millionaires.
3. Start a Blog
Before passive income apps came along, blogging was the standard way of earning money online. Blogging is still a good way to increase your monthly salary.
But it is not entirely passive. You see, a blog requires content to attract visitors. It also needs marketing, Search Engine Optimization, and staying in touch with your subscribers.
However, blogging helps you make passive income through adverts, affiliate marketing, and paid subscriptions. This allows you to make money even while you are on vacation, asleep, or working on your day job.
4. Make Money on YouTube
YouTube is the second most popular website after Google. That means it has millions of people willing to consume quality content every day. What is quality content?
It all comes down to your target audience. If you are targeting comedy fans, quality content is anything that can make people laugh. If you want to review cars, that means explaining the most important details about cars.
To make money on YouTube, you have an array of options:
- YouTube ads
- Affiliate Links
- Selling Merchandise
- Donations and subscriptions
- Sponsored Content
YouTube has terms you need to meet before you can monetize your channel. First, you need at least 1000 subscribers. Secondly, you need at least 4000 watch hours within the last year.
5. Flip Stuff Online
How do entrepreneurs make money? Simple—they buy goods low and sell them at a higher price. You can use the same concept online and earn extra income during your free time.
eBay is the best retailer for flipping goods. But it is not the only one. Craigslist, Amazon and Facebook also provide marketplaces for buying and selling products.
Although you can make a lot of money flipping products, it’s not an easy business. You need an entrepreneurial mindset to succeed. This involves knowing how to find quality products for cheap.
Also, you have to keep in tabs with what’s in tabs every week. That way, you don’t have to settle for small margins flipping shoes while you could buy and sell classic cars and electronics.
6. Buy Stocks and Crypto
Stocks and crypto provide truly passive ways to make money. Think about it. After you select and stock and invest in it, there’s nothing else you need to do. You can get back to your day job or business and wait for the stock to grow.
There’s a caveat, though. Stocks and cryptocurrencies don’t provide guaranteed returns. People who bought Bitcoin at its all-time high last year ($69,500) are now reeling in losses.
Worse, some cryptocurrencies soaring last year no longer exist. Luna is a good example. In other words, crypto and stocks carry the risk of losing money. So, be careful when choosing assets to invest in.
Your Turn
Everyone wants to increase their income. But not every person wants to take the steps necessary to make extra money. The Internet provides tons of ways to make passive income by completing surveys, selling your skills, or trading crypto. Compare these money-making opportunities and decide where to invest your time and money.
