Whether you’re looking to save for that next big college fund or snag some extra money, passive income is a great way to generate a steady cash flow without wasting time.
The good news is that there are several opportunities for students to earn passive income online. Some are more traditional, like real estate investing, while others are less well-known but much easier to start with.
Creating and selling ebooks is one of the best ways to generate passive income. You can do it by writing an ebook about something you are an expert in or a topic people want to learn more about.
Once you have the idea for an ebook, research your market. Find out if there is an existing market for the information you provide and what people are willing to pay for it.
You can write the ebook, edit it a few times, get a good cover, and publish it. Once you’ve done that, it should sell well enough to make you a decent amount of money.
Renting textbooks is a cheap and convenient way to save money on college expenses. For example, a student could save up to $1,600-$2,000 per year by renting her textbooks instead of buying them.
Another advantage of renting is that it allows you to get a copy of the book well before the start of the semester. This can help you prepare for the course and make notes.
Textbook rental sites usually offer session, quarter, and semester rental periods. They also provide free return shipping and price match guarantees.
Cashback & Rewards Apps
Rewards apps are a simple way to earn cash back from everyday purchases. There are various options, so finding one that works best for your situation is important.
Some apps are free to download, while others require a monthly or one-time subscription fee. The rewards you earn can be redeemed for gift cards or deposited into a bank or online savings account.
Vlogging has become a popular way for content creators to earn a passive income online. However, it’s also a great way to engage with your audience and help others.
Creating a vlog is easy, and many people find it fun to express themselves. However, you can make money from your vlog in a few different ways, including affiliate marketing and sponsored content.
In addition to these methods, you can sell digital products like courses or ebooks. You can even create a vlogger kit, a collection of elements you use in your videos that you can sell on your website or Sellfy.
Renting Items & Equipment
Whether you need tools for a new business or a home improvement project, renting is a great way to get the necessary equipment without investing. Moreover, rental companies often have a wide selection of items and offer flexible payment options.
Equipment rentals are also a good option for businesses that need more cash to buy new equipment but need it frequently. Unlike buying, maintenance costs aren’t a factor when renting. In addition, if you decide to upgrade, you can trade in your rental for a newer model.