15 Passive Income Ideas for Beginners in 2024

This post may contain affiliate links, which means I may receive a small commission, at no extra cost to you. This helps keep the website running and is greatly appreciated!

Want to make money while you sleep? Here is an ultimate guide of beginner passive income ideas to help you make more money quickly.

Do you have a full-time job, but want to start a side hustle to earn some extra income? You're in the right place! I've spent the time to pull together a roundup of the best ways to make money from home in your spare time.

As a full-time employee myself, I have several different side hustles that allow me to bring in extra income, this blog included! In fact, many of the ones on this list are things I have tried myself and can successfully say they work!

Having different streams of income is a great idea for many reasons. You can use the additional income as spending money, investing money, passive income potential, or as a cushion in case of job loss. In any case, it's ALWAYS a good idea to pick up a side hustle and start earning additional income today.

This post is all about the best ways to make passive income as a beginner.

DISCLOSURE: THIS POST MAY CONTAIN AFFILIATE LINKS, MEANING THAT AS AN AMAZON ASSOCIATE, I MAY GET A SMALL COMMISSION AT NO COST TO YOU IF YOU DECIDE TO MAKE A QUALIFYING PURCHASE THROUGH MY LINKS. ALL REVIEWS AND OPINIONS ARE 100% MY OWN.

15 Best Ways to Make Passive Income

1. Start a Blog

A blog is super easy to set up and extremely cheap! However, it's not a get-rich-quick scheme. It's a long-term venture. With that being said, people can make a lot of money with a blog.

I know people that have been doing it for years that make $100,000 a month! Insane, right? Now, it takes time so don't expect that your first year, but you can start earning income rather quickly if you make an effort to learn.

In fact, I made $758 on only my 3rd month in with absolutely no experience in websites, SEO, or writing! That's actually really good as most people don't make money for a year! However, the longer you do it, the more you'll make.

Here's exactly what to do to start a money-making blog. In addition, here are all the blogging tools I use and recommend spending the least amount of money.

2. Get a Roommate

This is actually my FAVORITE way to get extra cash quickly. Get a roommate!

When I first moved into my home, my girlfriend lived with me for $1500 a month. I loved having her and it helped me pay my mortgage. What a win-win!

If you have an extra room in your house, it's a great way to earn extra income. It's not weird in big cities! In fact, it's actually weird when people don't have roommates in big cities, so don't feel awkward about it.

It's actually awesome! I miss those days!

3. Invest in REITs

REITS, aka real estate investment trusts, allow you to invest in diversified real estate.

You can purchase REITs on the New York Stock Exchange like you would a normal stock. However, REITs own income-producing real estate so they often offer you a cut of the profits for investing in the company.

It's a unique way to own real estate as many of them own apartments, condos, storage sheds, shopping malls, hotels, etc.

4. Invest in Real Estate through Fundrise

This is an endorsement in partnership with Fundrise. We earn a commission from partner links on thefinancialcookbook.com. All opinions are my own.

Fundrise is a new concept, but it allows any person to invest in real estate with essentially any amount of money, assuming you meet the minimum threshold for the specified project.

I actually quite love the concept and am looking at a few projects as we speak.

If you can only afford $1,000 and the project is seeking $100,000, then you will own 1% of the project and receive 1% of the profits. There are additional fees to it, etc, but it gives any person the opportunity to invest in real estate!

5. Invest in the Stock Market

*Warning, the stock market is volatile and is not guaranteed income. However, with good research and patience, over time, it has proven to steadily increase.*

The biggest billionaires in the world are huge investors. There's a big reason for that. Investing in the stock market can make people very rich.

I know teachers that are multi millionaires due to investing in the stock market.

Here are the books I'd recommend to get you started: The 5 Best Financial Books that Will Change Your Life.

My TikTok, Pinterest and Instagram all have daily tips on how to invest in the stock market, things to know about finances, etc. Come find me! Let's be friends!

To get started in investing, feel free to visit my step by step free guide: Robinhood Stock Trading Beginner’s Guide (Get a FREE Stock)

You'll also enjoy these related articles on investing:

6. Rent Out Your Assets

Do you have a car, a tool, a piece of equipment, a bike, a paddleboard, clothing, a snowboard, a drone, a camera or anything else that someone may want to rent?

You can actually rent out your assets by advertising on Craigslist or through websites designed for that specific purpose!

Here are some rentable websites that allow you to rent out your items:

FatLlama– You can rent out anything you'd like and you even set your own price!
Loanables– Rent anything you'd like!
Rent My Wardrobe– Rent out your clothing.
Store At My House– Rent out storage space in your home.
Getaround– Rent out your car.
Turo- Another website you can rent your car.
Spot Hero– Rent out a parking spot.
Swimply– Rent out your pool.

7. Write a Book or Make a Journal

Did you know you can write an eBook and then sell it on Amazon?

It's true! Write a book about something you're passionate about, something you know a lot about, or something entertaining. Post it on Amazon KDP and then do some marketing on social media to promote it!

No cost to start. Just your beautiful mind and creativity!

In fact, there's actually a tool you can use that will take you through this process automatically, format it, help you design it, and then help you upload it! It makes it completely automated and quick!

You can sign up for that Amazon KDP Tool here to make the journal/book-making process extremely simple!

8. Dropshipping

Learn how to do dropshipping!

People are making millions dropshipping these days. It's really not that hard actually but could take some time to get set up and advertise. However, once it's rocking and rolling, you're good to go!

Here are the steps to take to start your own dropshipping business:

Design a saying, logo, or graphic.
Find a company that will print your logo or graphic. There are tons! Just google search “dropshipping company”.
Start a website by following these steps or open a Etsy account.
Connect your site to Shopify (if setting up your own site) (Skip if doing Etsy).
Market your products on social media for free.
When a customer purchases, just order that product with the design they chose on the dropshipping website.
The product will ship directly to the customer.
Done!

9. Start an Online Clothing Boutique

Starting an online clothing boutique is easier than ever before!

Get your business license, find wholesale clothing and items to sell (there are hundreds of websites), start advertising on social media, give your products to influencers for free advertising, and then sell!

Ok, I made it sound really easy there. It's a bit harder than that, but honestly, anyone can do it.

Watch some YouTube Channels that give you step by step to get up and running in no time!

10. Make a Course

Online courses are doing really well right now. Make a course about something you are passionate about and know a lot about. Post it and market it on social media to make money on it!

Make sure you have good content to share with the world and you'll be successful!

11. Sell a Journal

Are you creative and like designing graphics? This may be the side hustle for you!

There are many people who design journal covers to sell on Amazon. It's actually quite easy to do.

You will design a journal in Canva and then upload the graphic to Amazon. Amazon will post your journal cover online and when someone purchases it, they print the journal with lined pages inside and ship it to the customer.

You never hold inventory and never have to print anything yourself. Some people are making hundreds of thousands doing this!

12. Meet Your Weight Goals

Did you know you can get PAID for losing weight, based on your weight goals YOU DECIDE on?

Yep, it's true! I've actually done it myself 4 times!

I personally used the app DietBet. It's simple to use and I entered my own personal goals. You join a group challenge and everyone puts a certain amount of money in the pot and bets that they will lose their weight goal.

At the end of the challenge, the ones that meet their weight goal get to split the pot!

I did 4-week challenges and each time, I made about $45. Good luck!

13. Be a Photographer

These days, it's easier than ever to be a photographer. People love pictures and building memories. Cameras are so good these days and photo editing apps are free.

Get yourself a nice camera or start by offering photos with your smartphone and then work up to a larger camera. Photographers can make a lot of money.

This brings me to my next idea.

14. House Sit

Yes, people pay money for others to house sit their homes! This sounds like a dream job to me! You can sign up to be a house sitter by going to Trusted House Sitters.

The rate you are paid is based on the homeowner's decision, wants, and needs.

15. Do a Home Exchange

This is something I actually do! I exchange my home with others from around the world. They stay in my home while I stay in their home. This is a great hack to save money on vacations!

So how do you make money?

Well, instead of trading with others, you can simply allow someone to stay in your home in exchange for Guest Points. These guest points can be redeemed for vacations in other people's homes.

So while the money can only be used for staying in other people's homes, it's a great way to make money for your future vacations!

You get 250 guest points (equivalent to $250) by signing up using my code lisa-50a80.

The Best Ways to Make Passive Income

Making extra income can be fun and LUCRATIVE, as you can see. Find a few things you can start today to start earning additional income on the side!

If you try one of these things, let me know in the comments below or tag me on social media @financialcookbook! I'd love to celebrate your success with you!

This post was all about ways to make passive income for beginners.

This website is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.

Comments

Jon Sterling says

at

My favorite one on this list is house sitting. You can do a lot more with your money if you eliminate your housing expenses! I know there are official companies that organize such things, and others have had luck just asking around wealthy second home communities (where the owners are usually away).