Earning a side income, and preferably passive income at that, is something that many people would love to have.
But guess what, it’s something that many people already have. So if they can have it, why not you?
Earning additional income on the side is beneficial for many reasons. For one thing, it gives you extra money to fall back on if you lose your primary source of income. It also provides you with extra money to save, invest, or spend.
Needless to say, putting in the work and effort to generate a consistent and sizable income on the side is something that can really and quite literally pay off in the end.
Here are four ideas to earn a side income:
1 – Amazon Kindle Publishing
Amazon Kindle Publishing, or KDP for short, is without question one of the most effective ways to generate an income on the side, with the capability to earn a few hundred or even a few thousand dollars in passive income.
How KDP works is you’ll either write an eBook or have an eBook published, and then you’ll upload it to Amazon (along with a cover) after creating an account. You can price the eBook, set a 30% or 70% royalty (depending on the price that you choose), and then write a description and select popular search keywords to increase its exposure as well.
Not only will you earn a royalty for each sale you make, you’ll also earn money based on the number of pages read as well (usually around half a cent per page read).
2 – Rent Out Your RV
Do you have an RV that’s sitting in your driveway that you only use once or twice a year right now?
If so, rather than just let it sit and collect dust, you can also rent it out to other people to generate a passive income on the side. Many people who do this will earn thousands of extra dollars a year in passive income, and all for just letting other people use your RV.
Since you’re going to need to compete against the larger dealers and renters, your best bet to gain exposure will be to really advertise yourself across town, keep your RV as cleaned and well maintained as possible, take at least twenty high quality photos of the inside and out of your RV, and price your rent at below the average.
According to Outdoorsy, “the average RV rental price in San Francisco, CA is $189.95 a night.” If you could price yourself below the average where you live, along with following the other above tips, you’ll stand a good chance of attracting interested customers.
3 – Start A Blog
Starting a blog is hardly a get rich quick scheme. With millions of blogs on the internet already, it’s going to take a lot of work in order to stand out.
But something that’s really cool about blogging is the fact that it can potentially generate multiple sources of income for you at once, so long as you really commit to it.
For instance, you can make money from ad revenue and from running affiliate links. You can also link your blog to a YouTube channel and begin making money from ads on your YouTube as well (and use both to advertise the other).
But as was noted previously, starting a blog really requires intense commitment. You need to consistently create high quality content that provides value to readers (whether it be through entertainment or information, or both) and you will need to upload at least two to three times a week initially.
4 – Get Into Crowdfunded Real Estate
It may seem like a cliche to say at this point, but investing in real estate truly is an excellent way to earn money on the side.
At the same time, real estate investing is also known for being an expensive investment options because it requires a significant amount of money up front, but there are cheaper investment options to pursue as well if you don’t have that kind of capital.
For example, you can pursue crowdfunding real estate investment opportunities where you’ll only need $500 to $1,000 in order to get started.
Earning A Side Income
These are just four examples of ways that you can earn an additional income on the side. But take note that none of these methods will earn you money overnight. They each will require an investment of time and money in order to turn into a reality.
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