Tips for Generating Passive Income

Why generate passive income?

If you have been following my blog, you see I often talk about ways to make more money. Many of my tips require a bit of work and don't always amount to the results I would like. Many blogs discuss setting things up like online businesses to generate income. While this may work for some, they often don't discuss how and even still they require a lot of work continuously. Virtually all passive income streams require something from you, even if they require no work after setting them up. Here I will discuss three legitimate ways you can make more money right now. 

Three Options for Passive Income

Passively Sell your Information

There are a few options to passively sell your information. This comes in a couple of different ways. First, you can passively sell your fitness activity. There are plenty of great options for this including Achievement and SweatCoin. You simply link your fitness and health apps and watch the money roll in. The other possibility is to sell your locations data. Apps like the PanelApp let you share your location and earn money as payment. 

Start an Investment Account and Invest for the Long-Term

Here you have to give up the money you invest. The great thing here is if you pick a good long-term fund you don't have to monitor your investments as much if at all. Personally, I like low-cost ETFs. There are many options out there, and I won't make any recommendations here, but I personally like funds that pay dividends so you can get some compounding. I also like tech stocks, and there are plenty of good tech ETFs. I personally use Stash Invest for my long-term passive investing. 

Earn Money for Things You do Anyway

There are many possibilities here. One thing I like to do is use sites like Swagbucks to earn money for searching the internet. The possibilities here are endless. You can earn money while you shop online. Get paid to watch short videos. Generate income playing games or listening to music. The only downside here is that you won't get paid much for them, but if you are doing it anyway who can complain.