Although nine-to-five jobs are relatively stable, relying on one source of income can be risky. It may be prudent to have other incoming revenue in case you ever lose your job.
In addition to financial security, the extra money can help boost your bank account, cover unexpected expenses, and increase your discretionary funds for travel or hobbies.
Here are 15 easy ways to earn a passive income with little risk and no startup costs or ongoing maintenance.
Earn money online by taking surveys
$55,000 might sound crazy … but with a company called Survey Junkie, it’s possible to get your share of it every day by taking their surveys in your extra time.
Follow these simple steps to start earning:
- Sign up for an account with Survey Junkie here.
- Take surveys.
- Repeat daily and get paid for sharing your opinion!
P.S.: You can cash out with as little as $5 through PayPal or bank transfer, or transfer to gift cards from a number of stores.
Start a blog
![hands typing on laptop keyboard](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/hands_typing_on_laptop_keyboard.jpg)
Starting a blog has low startup costs, and you can monetize it through affiliate marketing, advertising, or selling digital products.
Choose a niche you’re passionate about or have expertise in. Then, create high-quality content and attract traffic via social media, email marketing, and search engine optimization (SEO).
The more visitors you have, the higher the chance you'll earn extra income.
Invest in CDs
![certificate of deposit document on table](https://cdn.financebuzz.com/filters:quality(75)/images/2023/10/31/certificate-of-deposit-document-on-table.jpeg)
A certificate of deposit (CD) is an account that you deposit money in and leave for a set time while earning interest.
Interest rates are often higher on CDs than other accounts because there are typically penalties for withdrawing early.
You can use CD laddering to stagger multiple CDs with varying maturity dates. This way, you receive regular interest income as you cash them out.
Rent out your garage
![home garage interior](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/home_garage_interior.jpg)
If you don't use your garage often, you may want to consider renting it out to someone who needs extra storage space or a place to park their vehicle.
It requires minimal effort compared to other passive income sources, such as rental properties. Once you find a reliable tenant, you won't need to worry about daily management, repairs, or renovations.
Stop overpaying when you shop online
Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.
Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, it'll scour the internet for coupon codes to help you save cash. And before you check out at 25+ major retailers, Capital One Shopping will notify you with a friendly pop-up if the item you're buying is available cheaper somewhere else.
Capital One Shopping is free to use and won't show you ads. Add it today and stop overpaying!1
Rent out a parking space
![parking lot with foliage wall](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/parking_lot_with_foliage_wall.jpg)
With increased population and limited parking in urban areas, you can earn a steady income by renting out a parking space. It's a relatively low-maintenance passive income stream.
According to SpotHero, a parking space in New York City can cost anywhere between $400 to $800 per month.
Create an online course
![young woman with learning language during online courses using netbook](https://cdn.financebuzz.com/filters:quality(75)/images/2022/04/03/young_woman_with_learning_language_during_online_courses_using_netbook.jpg)
Creating an online course can allow you to share your expertise and knowledge about a particular subject. You can sell the course on your blog, YouTube channel, or a platform like SkillShare or Udemy.
Your course can generate passive income indefinitely as long as it remains relevant and valuable to people.
Write and publish an ebook
![woman using tablet](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/woman_using_tablet.jpg)
Writing and publishing an ebook requires minimal upfront costs compared to traditional publishing methods. There are various self-publishing platforms available, such as Amazon Kindle Direct Publishing (KDP) and Smashwords.
You don't need to worry about printing physical copies or distribution logistics, which makes it an easy, cost-effective way to generate passive income.
Start a YouTube channel
![upload video to youtube](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/upload_video_to_youtube.jpg)
With a YouTube channel, you can build an audience by sharing engaging videos and then monetize your channel through ads, sponsorships, and merchandise sales.
Although it often requires more upfront work, once your videos are uploaded, they can provide you with passive income in perpetuity.
Depending on the type of channel you start, it requires a low investment to get started and has a high earning potential.
License your photographs
![printed pictures of holidays](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/printed_pictures_of_holidays.jpg)
If you have a talent for photography, try uploading your images to stock photography websites for people to purchase and use on their websites, blogs, or advertisements.
This strategy allows you to repurpose and monetize your existing work rather than just leaving it in your archives.
Once your photographs are licensed, they continue to generate income, so you can earn money while working on new photography projects.
Create an app
![man using online virtual app](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/man_using_online_virtual_app.jpg)
As smartphone popularity grows, there is an increasing demand for mobile apps. You can create an app within a reasonable budget with the right skills or by hiring developers.
There are various monetization options for mobile apps, including advertisements, subscriptions, charging for additional features, and selling virtual items.
By implementing one or more of these strategies, you can generate revenue from your app without much ongoing effort.
Earn cash back on everyday purchases with this rare account
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!2
With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!
This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.
Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.
Create an online store
![online fashion store](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/online_fashion_store.jpg)
Creating an online store allows you to tap into a global customer base, unlike a physical store that's limited to its local customers.
You can sell products you make, like clothing, accessories, and handmade crafts, on Etsy or Shopify.
Another strategy is to find reduced-priced retail products and sell them on Amazon or eBay for more money than you paid.
Sell digital products online
![mobile phone and notebook](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/mobile_phone_and_notebook.jpg)
You can also sell digital products, like graphics, templates, or music, online through platforms like Sellfy or Shopify. There's no need for physical inventory, so startup costs will likely be low.
Once you create and establish your digital store, it can provide passive income and the freedom to work on your own terms.
Affiliate marketing
![affiliate marketing links for promotion](https://cdn.financebuzz.com/filters:quality(75)/images/2023/10/24/affiliate_marketing_links_for_promotion.jpg)
Affiliate marketing can be an easy, low-cost way to earn passive income. You can get commissions by promoting products and services through affiliate links on your social media accounts or blog.
Unlike creating and selling your own products, affiliate marketing doesn't require specialized knowledge. You can earn money from anywhere with an internet connection, whether from home or while traveling.
Rent out household items
![concrete cutter machinery](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/concrete_cutter_machinery.jpg)
If you have household items you don't use often, consider renting them out as a passive source of income. Some examples may be power washers, chainsaws, or leaf blowers.
Set competitive prices compared to equipment rental businesses in your area. Market through social media platforms, word-of-mouth referrals, and collaborations with businesses or professionals who might need the equipment.
Peer-to-peer lending
![peer to peer lending](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/peer_to_peer_lending.jpg)
Peer-to-peer lending (P2P lending) is a direct method of borrowing and lending between individuals without using traditional financial institutions, such as banks or credit unions.
Many P2P lending platforms allow you to lend to various borrowers with different risk profiles. These platforms often handle borrower verification, loan disbursement, and collection of repayments, allowing you to earn income without actively managing the investments.
Open a high-yield savings account
![high yield savings account](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/high_yield_savings_account.jpg)
The average interest rate for a savings account is 0.46%, according to February data from the FDIC. A high-yield savings account (HYSA) offers much higher rates than the national average, currently around 4.50%.
You can often find HYSAs at online banks; they don't have the expenses of a physical location, so they often offer more competitive rates and lower fees than brick-and-mortar banks.
Bottom line
![man using laptop at table](https://cdn.financebuzz.com/filters:quality(75)/images/2023/11/01/man_using_laptop_at_table.jpg)
Learning how to earn passive income is a smart strategy to ensure financial security if you ever lose your job. It can also help you get ahead financially and save for emergencies or larger purchases.
The extra money you earn can also help you contribute more to retirement savings to support the lifestyle you want after you stop working.
Even if you’re intimidated by stocks and real estate, there are many ways to earn passive income with low startup costs and maintenance needs. As you learn more, you can try for something bigger and explore ways to turn $10,000 into a steady passive income.
SurveyJunkie Benefits
- Over $55,000 paid to members daily
- Earn up to $130 a month taking 4 or more surveys daily
- $76 million paid out to date
- 20M+ lifetime members and BBB accreditation