19 Best Passive Income Ideas (That Are Less Common!) | Clever Girl Finance

There are two basic ways to make money. The first is the traditional way: is going to work for it through a job. But the second way is by leveraging passive income ideas which once you’ve set up, will require little to no active effort from you.

So there are two basic ways to make money the first is a traditional way where you go to work and exchange your time for income and the second is by leveraging passive income ideas which once you have set up will require little to no active effort from you and when it comes to passive income ideas the most common ways are investing in the stock market and investing

In real estate however in this video i’m going to be going over some of the less common ways to create passive income it is important to keep in mind that when you are first establishing systems to create passive income it will require some active work from you to lay the foundation and it may also requires some capital so you might want to put some savings aside

That said let’s get into this video on 19 less common passive income ideas and before we jump in i would love to know if you have a passive income idea or business or strategy that you are currently working on and how it is working for you so share in the comments below hey everyone my name is bola i’m the founder and ceo of clever girl finance i’m also the author

Of the clever girl book series and the new book choosing to prosper welcome to clevergirl finance tv so in this video in no particular order we’re going to discuss 19 of some of the best but less common passive income ideas so let’s get into them number one own an atm or a vending machine we all see tons of atms and vending machines pretty much everywhere we

Go but have you ever stopped to wonder who owns them well it can be pretty lucrative to own an atm or vending machine especially when you have it in location that has a lot of heavy traffic you can choose to buy your own atm a vending machine or partner with someone who owns a property or space in a busy area when it comes to atms you make money from the fees that

Are charged when people take out their money and when it comes to vending machines you make money from the items that you sell and this can be lucrative especially when you’re buying items in bulk and then selling them individually for a higher cost number two flip domain names so domain names are basically real estate of the internet and while everyone might want

A domain name there are not all great domain names and they are limited because once a domain name has been taken that is it so you can spend some time finding some easy yet popular domain names that you can jump on and buy and then flip them for extra cash number three sublease to roommates so if you own a home one way that you can generate passive income is by

Renting out rooms in your house to roommates or if you are renting an apartment as long as your landlord does not have any issue with it you can also sublease part of your apartment one of the bedrooms if you have multiple bedrooms to a roommate this will allow you to generate passive income and also accelerate achieving your goals like paying down your mortgage or

Putting the money that you don’t use towards rent towards your other financial goals if you don’t want to have full-time roommates living in your home you can also choose to sublease through a platform like airbnb where you rent out rooms in your home during specific times of the month or the year so that you can again generate that passive income number four rent

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Out your car or parking space so if you are not actively using your car you can definitely rent it out using platforms like turo or a higher car to bring in some extra money and if you have a parking space that you’re not using or you have a parking space and you do not have a car you can also rent out your parking space or even your driveway to bring in extra income

If you live in a high traffic area a big city or even in a beach town this can be quite lucrative for you number five publish ebooks so once you’ve done the active work of writing an ebook you can actually list it for sale which becomes another passive way of earning income however you want to keep in mind that you want to implement strategies to help market your

Book by making people aware that you have a self-published book to sell of course when you self-publish there are costs but even if you are only earning a couple of dollars from each book sale keep in mind that that amount of money can add up to a big deal over time and a great platform to self-publish is amazon’s kindle direct publisher kdp no number six create

Your own apps or software to sell so have a tech background or your tech inclined and you have a great idea you can work on creating your own app or your own software and then making available in an app store for example for sale there’s little ongoing work for you to do aside from raking in those dollars and making the necessary occasional updates to your app or

Your software and keep in mind that even the most simplest apps can do really well especially apps around personal finances and productivity number seven sell stock photos a lot of content creators are looking for really great and unique images to use as part of their content so if you love digital photography or if you have a smartphone this is another great way

For you to create passive income you can upload your photos to platforms like shutterstock and adobe stock and while this is not going to make you rich selling stock photos it could be but you know the the income from stock photos is a little lower it is a good way to start putting money aside over time based on what you earn from your stock photography number eight

Earn credit card rewards with cashback so a lot of credit card companies offer cash back options when you use your credit card and this could be a great way to put that cash back you earn aside towards your savings and this is a great way to earn passive income if it is tied to money you already plan to spend if it is built into your budget it’s really important

To keep in mind that when it comes to leveraging credit cards as a way to leverage cash back for passive income you want to be mindful of what you are spending your money on and not go above and beyond what you actually already plan to spend in your budget so i would say approach this option with caution number nine rent out tools that you own so if you have a

Ton of tools in your garage or your shed why not let your neighbors know that you have tools for rent you can rent out big ticket items like lawnmowers or power tools and save that money that you earn from renting tools to your neighbors a lot of people do not own these big tools but they tend to rent them or borrow them from other people so you could turn this

Into a little business in your neighborhood by the way if you are enjoying this video i’d love for you to hit the subscribe button below and hit the like button as well tell all your best girlfriends about clever girl finance and stop by our website we update our blog every single day and we have over 30 plus completely free courses to help you with achieving your

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Own financial goals okay let’s get back to these 19 best passive income ideas number 10 lend money on peer-to-peer lending platforms so if you have some liquid cast sitting around one way to generate passive income in the form of interest earned on your money is by lending money on peer-to-peer networks this is where you can lend money to people over the internet

Based on specific contracts and verifications that are done by the peer-to-peer network however you want to keep in mind that when it comes to peer-to-peer lending there is an element of risk and you may lose your money especially if that person is not able to pay so you want to keep that in mind and be sure to use a reliable platform number 11 build a niche or

Affiliate blog or website so if you love creating content and you love to write you can actually start your own blog or website and then create affiliate links by partnering with brands and products and sharing those products with your audience and then earning a commission however when it comes to earning passive income this way you have to build up an audience

In order to convert them into those affiliate products and services that you’re trying to sell so one thing you want to try to do while you’re thinking about starting a blog is learn how search engine optimization works this way you can start to build a steady flow of traffic that can come to your site passively and also help you generate this passive income based

On their conversions to your affiliate links that that you want to sell number 12 buy an established blog or website so if you’re not interested in starting from scratch and again you have some local capital there are tons of websites where you can buy established blogs or websites that already have a passive income strategy set up through affiliate links and so

You want to do your research to understand the traffic that comes to these websites the conversion percentages the types of products and services that they have affiliate links to and run those numbers to see if it’ll make sense for you in terms of number one recouping your investment and number two being able to earn a profit after all your maintenance costs on

The site number 13 sell a course so if you you have skills around coding you are an amazing cake decorator you know how to organize like no man’s business you know how to play an instrument you have other technical backgrounds and skills you can create a course based on your knowledge and sell it of course it’s going to require a level of time and commitment to

Building out your course but once your course is completed you can put it on a course platform and then passively sell your course and see those big bucks rolling in because course creators make a lot of money especially in the passive income space number 14 start a vlog so did you know that the average youtuber makes over fifty thousand dollars a year and these

Are the consistent youtubers that have established channels well that could be you too so if you enjoy sharing the behind the scenes of your life or you have a key topic that you enjoy talking about you can leverage a platform like youtube to start a vlog channel and then monetize it with ads and brand partnerships and generate a really decent passive income for

Yourself once those videos have been created and uploaded onto the platform number 15 rent out your designer items so if you’re someone who loves luxury fashion like handbags or jewelry you can definitely rent out these high ticket items to other people to bring in some money so if you have certain pieces that you have fallen out of love with as opposed to selling

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Them for a one-time payment you can rent them out multiple times and earn even more money than you paid for that item and there are some really great sites where you can rent your designer items out for example rent my wardrobe and designer wardrobe number 16 sell custom products with print on demand so did you know that you can have your own retail store and not

Have any inventory well with platforms like shopify printify and lulu’s you can actually design products like clothing stationery accessories and then have them printed on demand each time somebody wants to buy them them so you don’t have to hold on to any inventory all you have to do is make sure that the designs are are created and listed for sale and that is

Another way to generate passive income because once you have that storefront up basically your job is just to let people know that you have this business going and they buy at their own pace and you can earn money passively number 17 rent out storage space so do you have extra rooms in your house do you have a big massive empty basement do you have a garage that

Has spare a spare corner you can definitely rent out space to friends family neighbors and charge them a fee and earn passive income that way number 18 license your music so if you’re a musically talented and you love creating new sounds one way you can create passive income is by uploading your music to certain platforms and then monetizing by having people pay to

Use your music a ton of creators on social media on platforms like youtube and even course creators are looking for royalty-free music that they can license to promote their own courses or products and services or even their own youtube channels number 19 advertise on your car so did you know that your car is actually prime space for advertising local businesses

If you drive to and from work this could be an opportunity for you to work with a local business to have their banner or their logo or their business listed on the side of your car with a stick on decal that you can take on and off as you please and while this is not for everybody this would definitely be worthwhile especially if you can work with negotiating with

One of the small businesses in your town a good payment and this is essentially another way to make passive income because all you have to do is drive where you would typically drive to and let the advertising on your car do its job there are so many ways to make passive income that are easy and also lucrative you just need to start with one and if you enjoy it

You can build up or add more income streams from there as i i mentioned a lot of these income streams require initial active work before they can become truly passive but it is certainly worthwhile to pursue passive income streams we’ve all heard that the average millionaire has seven passive income streams and so why not you of course the stock market and real

Estate are great ways to start investing passively but there are other ideas that you can explore as well so start with one of these 19 today to start building out your own passive income streams if you have enjoyed watching this video please hit the like button below subscribe to this channel tell all your best girlfriends about clevero finance and stop by our

Website and check out our 30 plus completely free courses i will talk to you next time

Transcribed from video
19 Best Passive Income Ideas (That Are Less Common!) | Clever Girl Finance By Clever Girl FinanceliveBroadcastDetails{isLiveNowfalsestartTimestamp2022-10-16T140010+0000endTimestamp2022-10-16T141546+0000}