One of the most important lessons that many people learned in 2020 is that passive income is vital and one income source, is not just enough. Everyone needs to have additional sources of passive income besides just their day job. In 2020, we witnessed a downward slide in income. Many people lost their jobs as a result of the pandemic. Others had their working hours and wages slashed while so many organizations were not able to pay bonuses to their employees.
Even employees could not get their pay increases because most organizations could not afford to pay. At this point, those with other sources of income aside from their day jobs have been able to fare better than those without passive income. It has become clear to everyone that having additional sources of income is the way to go in 2021. But the question for so many is where to start looking from.
As a result of the quarantine, many individuals will not be too comfortable doing jobs that will require being around other people. They would rather prefer something they can do and earn extra income working remotely from the comfort of their homes. In this post, I will be sharing 9 income ideas that will help you earn passive income in 2021 all from the comfort of your home. If you are ready to earn some extra cash on the side, let’s dive in.
1. Airbnb Hosting Experience
You may be wondering what Airbnb is. Airbnb is a platform you can use to rent someone’s home so that you can stay overnight when you are visiting another state or Country. You can even rent a particular part of the house depending on what you want to use it for. Let’s say you are having a wedding, and the host has a nice backyard, you can rent that space for your wedding.
Airbnb also has an experience section. If you are traveling to another state or country, you can book a tour with a local on the Airbnb experience section to show you around. However, as a result of the quarantine, Airbnb online experiences have become quite popular. You can monetize your skill by taking on a group for an online experience where you teach them different things ranging from podcasting to cooking.
The last time I checked, you can charge on an average $29 for an individual while some go as high as four hundred dollars per person. If you know how to do something well and can teach such skills well, then you can consider earning some extra income using your skills on Airbnb experience. Click here to get started.
2. Sell Stock Photos
You do not have to be a professional photographer to thrive in this. If you have gifted eyes in picture taking, then you can make some extra cash selling stock photos. You can sell such photos for single-use or commercial purposes on Getty Images, Shutterstock, or Eyestock. All you need is to put the images on the sites and get paid each time they are sold. It’s that simple. You can check out the site here.
3. Fiverr
Fiverr is a freelancer hub where you can find a lot of people offering different services to clients who are looking for such services. Some of the services offered by sellers on Fiverr include content writing, graphics design, YouTube thumbnail creation, video and podcast editing, excel spreadsheet, and so many others. If you are creative and you can offer any of the services available on Fiverr, I suggest you start selling your services there. Check them out here.
4. Etsy
Contrary to what you may think, Etsy is not only for crafters or people who can knit or sew or make cool boards put up at weddings. If you know how to do things on a computer or create digital products, Etsy could be for you. On Etsy, you can create and sell products like digital planners, excel templates, or even budget workbooks. Digital product sellers on Etsy can make between $2 to $35 or more. The beautiful part of selling on Etsy is that you wouldn’t have to bother about inventory or mailing of products because what you offer are digital products. Check them out here.
5. Sell Your Issh
That’s right. Look around your house and find those things you have that are in good condition but you don’t need anymore and sell them. It could be clothes, appliances, jewelry, or shoes. The list is endless. Wondering where to get buyers? You can do so on Facebook marketplace, Poshmark, or even Thredup. Thredup makes selling these things pretty easy. If you have something to sell on Thredup, they will email you a box. All you have to do is fill up the box and send it back to them and they will take care of the rest from taking photos, writing a description, and even mailing it to buyers. Easy right?
6. Become an Online Tutor
Tutoring has become far better than it was years back with the popularity of online tutoring. You no longer have to visit students at a designated place to teach them when you can do that from anywhere once you have an internet connection. There are quite a lot of tutoring companies out there you can register with and start tutoring. Some of the popular ones are Chegg Tutor and Tutor with Preply. As a tutor with Preply, you can make an average of $550 a week. This amount of course depends on the subjects you are tutoring as well as the number of hours you are available. If you are book smart, go ahead and check out any of these tutoring companies and start making money.
7. YouTube
Making a passive income on YouTube is pretty much simple and you don’t need a special skill to start. All you have to do is upload videos that people would want to watch on your channel and monetize it. You get paid as people watch the videos. If you are just starting on youtube, it may take some time before you can monetize your channel. To monetize your YouTube channel, you need to have up to 1000 subscribers and 4000 watch hours. You can also make money on YouTube by putting up sponsored videos on your page. A company in your niche can reach out to you and pay for you to upload their videos on your page.
8. Affiliate Marketing
Even if you don’t have a channel with a lot of subscribers, you can still put affiliate links into your videos. When people buy products using your link, the company pays you a certain percentage for recommending their products. If you are looking for opportunities to do affiliate marketing, you can try flexoffers.com or impact.com.
9. Dividend Stocks
A dividend is a price per share a company will pay you just for owning stock in their company. Let’s say a company offers $1 per share to its dividend stockholders every quarter. If you have 350 shares, what it means is that at the end of the year, you would have been paid $1,400. You can decide to reinvest this sum and buy more shares.
Final Thoughts
Passive income is the way to go in 2021. The Ideas given in this post may not be the only ways to earn passive income but they can give you a good head start so go ahead and try any of them.
