31 Smart Passive Income Ideas That Actually Work _ Ways to get money, Smart passive income, How to g
11. RENT OUT YOUR SPARE ROOM
INITIAL INVESTMENT: 4/10
RISK: 2/10
TIME: 5/10
MONEY GAIN: 6/10
What could be better than making money from home? Earning passive income from your home!
If you own your house and have a spare room or rent a place with some extra space, you can start earning money on websites like Airbnb.
If you are renting, check with your landlord first, as you need their permission to rent out the extra space.
How much you can make will depend on your home’s location, size, and condition, but this is a way of earning money from space that might just be sitting there empty.
Going away on holiday?
List your home while you are away, and you could earn more than your holiday costs you!
12. RENT OUT YOUR CAR
INITIAL INVESTMENT: 3/10
RISK: 2/10
TIME: 4/10
MONEY GAIN: 4/10
Got a car that you don’t drive all the time?
You should probably rent it out!
Like renting a property, this will require some maintenance and work, but you can earn some good money.
If you want to rent out your car while you are on holiday or while you are not using it, check out websites like:
These websites let you rent your car Airbnb-style.
With Turo, you’re protected with $1 million in liability insurance, and your car is covered against theft and physical damage. Your vehicle has to be from 2005 or newer, have a clean title, and have less than 130,000 miles on it.
Getaround has similar requirements: every trip includes $1,000,000 in insurance and 24/7 roadside assistance. Plus, it installs a device that lets people get into your car without the key.
Getaround says the average car owner makes $1,000 per year.
Not bad for very little effort!
13. RENT YOUR PARKING SPACE
INITIAL INVESTMENT: 3/10
RISK: 1/10
TIME: 2/10
MONEY GAIN: 3/10
If you have a free parking space, driveway, or empty garage, you can easily turn that into money. You could list the space yourself on Craiglist or reduce the hassle and use something like Stow It.
Stow It connects individuals and businesses with extra space for others that need vehicle storage.
It will also process all payments and ensure you get paid on time. Plus, listing your space is free, and you keep 95% of your earnings.
Other websites you can look into, depending on where you live
If you live in a major metropolitan area, you will be surprised by how much you can make for your spot!
14. RENT STORAGE SPACE
INITIAL INVESTMENT: 3/10
RISK: 1/10
TIME: 2/10
MONEY GAIN: 3/10
If you have some extra space and are happy for people to store their stuff there, you could simply rent it out without much hassle. Much easier than letting your spare room on Airbnb and dealing with potential guests daily.
By renting out your space as storage, you could earn some easy money by actually doing very little.
I suggest you use a peer-to-peer storage rental platform to find verified users.
Websites like:
Will charge you a small fee but will vet users, help collect payments, and insure your space.
15. RENT YOUR BIKE, SPORTS EQUIPMENT, OR ANYTHING ELSE YOU CAN THINK OF
INITIAL INVESTMENT: 1/10
RISK: 1/10
TIME: 3/10
MONEY GAIN: 3/10
Did you know you could earn cash with that bike you rarely ride or sports equipment you only use once or twice a year?
Websites like:
Let you make money by renting out all sorts of equipment: from bikes to cameras, tools, generators, paint sprayers, speakers, and more.
You can list all your equipment for free on both websites (Spinlister will only take bikes, snowboards, skis, and surfboards, while Friendswitha has more options).
Plus, you can insure your items against damage or theft. All you have to do is pay a low fee (from 6% to 17.5%) when you rent out your equipment.
16. RENT YOUR CLOTHES
INITIAL INVESTMENT: 1/10
RISK: 1/10
TIME: 4/10
MONEY GAIN: 4/10
You probably know that you can make money selling clothes. But did you know you can also make money renting them?
If you have some nice clothes in your wardrobe (or bags, shoes, and accessories) you rarely use, you could make money by renting them out.
While you can rent pretty much anything…designer brands like Alice and Oliva, Eliza J, or Chanel rent much more easily, while renting fast fashion (like Forever21, H&M) won’t make you much money.
Websites and apps to check if you want to rent your clothes:
These websites give you the option to insure your items if they get damaged or lost, but always check the fine print before you lend.
Get Paid For Things You Already Do
17. GET PAID TO SHOP
INITIAL INVESTMENT: 1/10
RISK: 1/10
TIME: 2/10
MONEY GAIN: 2/10
We all spend money shopping, no matter how frugal we are.
How about getting money back on everything you buy?
Using cashback apps and websites isn’t going to cost you anything other than a bit of time.
And you can get anything from 2 to 10% back on your money. If you spend $1,000 in a month, you could get $100 back! That’s a lot!
The best cash back apps:
Swagbucks: This app has over 1500 shops to pick from, including places you already shop from, like Starbucks, Amazon, and Target. You just need to select the shop you need, click on it, and earn cashback. You can then use the points you make to buy gift cards (from places like Amazon) or get paid via PayPal.
Rakuten: This website gives you cash back when you shop online. You just need to go to the website, download the app, select the store you need to shop from, and earn money! You’ll get a free $10 bonus when you sign up, and you’ll be able to see how much cashback you can make on each store when you select it.
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