Passive income is earnings that you get, when applying minimal force, such as the receipt of payment from landlords, but the digital age gives you even more ways to generate income in this way. Passive income can help you pay off loans, says Go Banking Rates.
Open a savings account
You can open a savings account in a Bank and obtain additional income through compound interest. Select the best conditions and soon will be able to repay the loans due to accrued interest.
Purchase of certificates of Deposit
Many financial institutions issue certificates of Deposit with a term of 20 years. When the period is increased, you get cash and additional interest that can be used for further investments or repay debt.
The purchase of securities
You can invest in securities that will help to increase passive income and use the profits to pay down debt. The main thing is not to invest in more risky high-yield bonds.
Become an investor, counting on dividends
Dividend shares are shares that produce such large companies as Coca-Cola, McDonald’s and AT&T, and return a portion of their profits to investors. Investors receive a profit depending on how you assess the paper.
Buy property that you can rent
Buying investment real estate is not a simple process, but it can bring great passive income.
Donate a room to rent
If you can not buy property for renting, but you have empty room, you can rent it and earn additional money. To rent a room through SpareRoom and Cozy to find a good neighbor.
Use investment real estate Fund
If you are not able to rent a house or room, you can invest in real estate investment Fund. REIT are traded on the open market and can be purchased as well as shares in the company. REIT must distribute at least 90% of taxable profits as dividends to investors.
Invest in real estate Crowdfunding
Real estate Crowdfunding offers a good passive income with less volatility than the stock market. Sites like RealtyShares and FundRise allows investors to contribute small amounts which later can be used for the purchase of real estate.
This method of lending money in any way unrelated individuals, or “equal sides” without involving a traditional financial intermediary — for example, a Bank or another conventional financial institution. The loans are available online on the websites of special credit institutions through a variety of platforms, lending instruments and credit check. Interest rates are set either by lenders (creditors), competing for the lowest bid under a reverse auction, or determined by the intermediary company on the results of the analysis of the borrower’s credit. The borrowers, the results of the evaluation are more likely to be using the default are assigned higher rates.
Invest in Storage Lockers
In the US, over 50 thousand storage spaces. Many of them are owned by large companies, they can invest on the principle of the REIT, receiving passive income.
Use the machine
You can earn hundreds of dollars per month to pay on loans, after handing over the car for advertising. The sites like Wrapify pair drivers work with large companies who are willing to pay money for the conversion of vehicles into moving billboards.
Turn car rental
You can use the site Turo, which leases cars to rent. You can register on the site, as the owner of the machine and rent it out, get passive income. The service provides insurance to the vehicles.
Buy or take a lease vending machine
The sites like Gumball.com help to rent vending machines. You can rent a machine to get income during the year.
Buy or rent ATM
Companies like ATM Money Machine can help you to buy your own ATM and help you to organize your own business.
Buy a Billboard
Advertisers pay good money to place their ads, and you can buy one of them. It is important to understand how the market works, and to ensure that all permits were in order.
Apply for a credit card with the cashback feature
You can get a credit card with a cashback feature, which will return the money after shopping. The main thing — time to recharge, and then you won’t pay a fee for the use of funds.
Sign up on the website that offer cash back
You can shop through Ebates and Swagbucks sites. For purchases you can get gifts, credits or refunds.
Create an application
Many free apps make money on ads. You can create your app and then sell advertising space.
Earn on YouTube
Stupid video with domestic cats and stunts of keyboardists or other viral videos spread across the Internet at light speed. You can also create a YouTube channel and monetize it through advertising or merchandising.
Start a blog
Running a blog can require a lot of work, but eventually bring passive income. The main thing — to choose a topic which you like to register a WordPress blog and fill it with fun, useful and engaging content. Income can be obtained through advertising and subscriptions.
Buy an existing blog
Blogging from scratch can be difficult, but websites such as WebsiteBroker.com allow to buy existing blogs that have already been created to monetize. For example, a single web site that earns $300 a month, sells for $99.
You can expand the scope to do blogging and operating websites of electronic Commerce. On the website Flippa to buy any sites from Dating to sales hours.
Instead of wasting your talent on photo posts in Instagram you can monetize a hobby and sell the photos to the effluent, for example, offer their services at Shutterstock.
Several competing companies offer writers the opportunity to publish their e-books. Service Amazon Kindle Direct Publishing allows authors to publish as a digital book and a paperback.
Acquisition of royalty
One of the advantages of rock stars is royalties, which are paid as long as the audience listens to their works. You can buy the intellectual property on Royalty Exchange and earn.
To write greeting cards
You can capitalize on their artistic inclinations – drawing, writing poems. Companies such as NobleWorks and Calypso, accept applications and pay for the best. Your words and illustrations can be on greeting cards.
Even if you think that all the good ideas have already been implemented, you still can capitalize on these ideas. Patent market gives people the opportunity to buy an existing patent and make this.
Publish and sell online courses
Perhaps you are well versed and can teach others. Platforms, such as Digital Chalk and Click4Course offer the tools necessary to sell your knowledge, helping you to develop and publish their own online course.
Rent your things
Perhaps you have a good camera that you rarely use, or a machine for playing pinball, and you can lease them. Use the PeerRenters website where you can put pictures of items and rent them out.
Rent a bike
Perhaps you have a bike that is gathering dust in the garage. Sign up on Spinlister and return your bike rental. Therefore, you can earn up to $500 per month.