5 Ways to Make Passive Income Online

Inflation has reached record levels and while there are signs it may be easing, prices on just about everything remain high. Congress has acted, passing legislation to raise the federal minimum wage. However, as the economy adjusts to this new normal, many are looking for ways to earn passive income – Money that is guaranteed, with little or no effort on your part. 

You know what they say: all work and no play makes Jack a dull boy. So, let’s explore how you can make some extra cash online without any specific skill or training.

1. Start a blog

Blogs are a fantastic way to create passive income. Not only do you get to explore your interests, hobbies, and passions, you can also become an affiliate marketer, promoting products and services related to your blog. If someone clicks on an affiliate link and then makes a purchase after, you’ll earn a small commission.

To start, you’ll need a blog. It doesn’t have to be big or even particularly detailed, a simple, personal blog will do. Now, you must decide on a niche and theme for your blog. The key is to pick a topic that you have a passion for, something that makes you feel excited about writing. Once you’ve picked a niche and theme, you can begin setting up your blog. You can use a free blogging platform like Blogger or Medium to get started. From there, you can move to a premium platform like WordPress or Google Blogger to get a more advanced look. 

2. Start an online store

Online stores or e-commerce sites are another great way to make money online. You can either sell your own products, like physical goods or digital downloads, or you can choose to sell someone else’s products. 

If you decide to go with your own products, you will need to get started by creating a small shop on Etsy or another online marketplace. Etsy is a fantastic place to start as it’s one of the largest online marketplaces for everything from clothing to artwork to candy. Create a small store for yourself or your hobbies, like hand-made jewelry or clothing. With Etsy, you have the option to set your own prices and don’t have to worry about minimum sales volumes.

3. Start an online tutoring business

With the rise of tutoring platforms like LearnDash, Skillshare, and Tutor.com, it’s never been easier to set up a tutoring business. All you need is a computer, an Internet connection, and a little time to learn how to operate a successful tutoring business. 

An alternative to tutoring is to become an online English tutor. With most online learning platforms like PearLSchool, you can set your own tutoring hours and determine your rate. You will need to have a solid background in English to become a tutor, either through extensive reading or academic performance. You can also use sites like OneOpinion to get feedback from previous students about whether or not you are a good fit for the role.

4. Start an online survey company

Online survey companies like Survey Junkie and Swagbucks will pay you to take surveys about your lifestyle, shopping habits, and more. Just make sure you follow the instructions carefully and do some research before you get started. Even if you are just starting out, you can still make a few hundred dollars a month simply by taking online surveys. 

5. Start an online teaching business

If you’re looking to make money online, you can start an online teaching business. There are plenty of platforms like Teachable that will allow you to set your own hours and schedule as well as design your own courses. While certification is not required, many teachers prefer to get certified to have a steady stream of income. You will need to have a clear understanding of educational psychology and how to design effective lesson plans.

The great thing about these platforms is they allow you to design your own courses and pick and choose what teaching styles and methods you will use. You can even design multiple-choice quizzes and assignments, or provide detailed lessons that lead to a comprehensive exam at the end. 

If you’re looking for inspiration on how to make money online, be sure to check out these five ways to make passive income online.