How to Generate Passive Income Without Any Initial Investment: 5 Free Ideas
For many people looking for ways in how they can generate passive income, unfortunately passive income is something that requires an initial investment. And luckily, there are many of these options available – not only blogging. In this article, five business models for generating passive income will be reviewed where you will not need to pay even a single penny in the first hand.
How to Generate Passive Income Without Any Initial Investment
Let’s break down all these ideas one by one so that you can make a turn towards earning passive income.
- Rent Out Your Belongings
There are things that you always use and there are those which would re categorised as passive for example a spare room, formal clothes, sports equipment or occasionally even a car that is not used very frequently.
Why leave these assets idle while you can rent them out and make some extra dollars? This is a simple and low-stress way to earn side income without monopolizing too much of your time. Things like bicycles, sports equipment, spare camping gear, furniture and power tools are among the few things that can be easily rented out.
- Ride Sharing
Car owners can always ride with Uber or Lyft for some additional revenue. Typically, you should switch on the app whenever you are going to work and collect a client on your way. Such is the demand for easy means of earning passive income with no capital investment as the only requirements are a car and a smartphone.
One can then go and advertise products or services using their vehicles.
- Passive Income Apps
A plethora of passive income apps can be accessed, which serve different purposes. Some of them provide real passive income in that you pay some money or make some product or offer some service and sit back as the money comes in with minimal work required.
While others fall into the semi-passive category. This demands a lot of work at the beginning but in due course pays high returns with little work involved after that.
- Credit Card Rewards
There are a variety of benefits associated with the usage of the credit Cards,2 for example, there are Credit Cards where by usage of them, one does not make cash but makes points that can be converted into various gifts. You can redeem these points for gift cards, discounts on products and services, or even cash.
Though this is not my usual approach, if one has to use a credit card every month, why not make use of the perks. Only ensure that you are able to pay off the total due at the end of every month. In this case, one is only advised to do this when one does not intend to have a balance.
- Online Business / Blogging
Making an online business or blog is another great method to bring in passive income with zero starting capital. This is hard, but it can certainly be achieved – I have done it myself. All that is required is an idea and marketing well. You can eventually make money while you are in bed if you are willing to work for it.
As you can see for yourself, there are many different passive income strategies that one can implement with no money to begin with. Well, there is now an abundance of resources, which means getting down with the work and achieving the monetary goals.
How to Make Money To Invest To Make Passive Income
For anyone who is not satisfied with any of the ideas mentioned above or if you’re tired of thinking, then here’s how to make some easy fast cash to generate for more passive income.
The easiest strategy to begin earning passive income is to liquidate your surplus assets. This can be clothes, furniture, books or any electronics. They can be sold via eBay or Craiglist or moving out sale. Another option is to take up short-term assignments such as dog walking or babysitting to make some money. Or else, you might opt for the option of doing some internet-based freelance work like article writing, web designing or logo creation and graphics. By utilizing these quick money earning ideas, you will accumulate sufficient capital which you can use to venture that has more returns, for instance, stock and bond trading or peer to peer lending. It is quite possible to create a continuous source of passive income with no starting capital, if the steps are taken in the proper order. Related: How to Start a Business with No Money Q&A Section What’s the easiest way to start earning passive income? The easiest way to start passive income is through credit card rewards. Get a credit card, swipe it as you would any other, and when you are hooked, get cashback or reward points for the same and get paid.
Which passive income idea would hasten the process for me to earn $1,000 the quickest?
It is either the renting of your possessions or the taxi services that are providing a timely passive income. It takes just a few days to start earning with both ways.
Are there free manners in which one can generate passive income?
Yes! There are several free ways to generate passive income, such as renting out items, ride-sharing, using apps that pay you for viewing content, and blogging or starting an online business. All these options do not demand an investment up front.
Is it possible to be fully employed with passive incomes only?
Of course, yes it is possible to be under passive income throughout one’s life though it may take and call for utmost discipline and commitment especially for starters. One has to be innovative and persistent to come to a point where one earns an income even while in deep sleep. There is also the aspect of devoting time to developing a passive income which will be enough for living on.
I achieved this through three years of nocturnal and weekend work. I did not spend a whole lot in setting the business up, however salt this in a lot of time.
How can one realistically embark on passive income opportunities?
The starting point with passive income is to pick an option that works for you and then survey the steps of starting that business. Learn how people in your area of business have achieved success and formulate how you can implement similar activities. When you begin to make money, you must pour that money back into the business so that it helps develop over time.
Conclusion: Passive Income with No Funds?
Generating passive income does not require the availability of any funds at the outset; however it will require effort and hard work. There comes a period when you will have to be innovative and very committed to realizing your goal of achieving financial independence. Start with how to best approach such a situation in terms of the factors in your possession and do something. If done well, one will have an additional constant source of income which they do not have to work for on a daily basis months or even years down the road. Wish you all the best!
