Passive income Ideas
From investing to running an online business - get the money rolling in with these 20 passive income ideas.
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What are the best ways to make passive income in Australia?
We've broken down the most popular ways to earn passive income into categories:
Investing is perhaps the most hands-off way to earn passive income. All you have to do is deposit some money into an interest-bearing account and leave it there while the cash starts rolling in. Of course, your income will depend on the level of interest the account offers, will how much you put into the investment and how long you leave it there.
Here are some passive income investment ideas:
You always hear stories about people striking it rich in real estate. That's because it is a tried and tested way of bringing in some extra cash. Not only does the price of your assets tend to go up in the long term, but you can also earn rental income along the way.
These days, affording a rental property is out of many people's reach especially in Australia's big cities. But buying rental property is not the only way to get into the real estate game. Here are some other ways to invest in real estate:
Online businesses were tailor made for passive income since you can automate much of the work, and there are numerous ways to do it. Here are just a few:
Brick and mortar businesses
There are a couple of brick and mortar businesses that fly under the radar, and which can bring you in a decent level of passive income:
Rent out your stuff
There are many opportunities out there to make money renting out the stuff you own. Cars are the most popular choice, but similar services exist for other items as well. If you have a lot of nice stuff you don't use, it might make sense to rent it out rather than sell it.
Here are some examples:
Listen: A beginner's guide to passive income on the Pocket Money podcast
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