3 Passive Income Ideas to Make Money Online in 2024

Americans are being priced out of the real estate market. Most young professionals aren’t able to afford their first home, a recent Fortune study found, and when they finally move in, they’re locked in and unable to move to a bigger or better property.

The US Bureau of Labor Statistics has finally released new data on the average earnings of full-time and hourly workers in the United States, showing that the average weekly salary is $1,165, or $60,580 per year. But to even be able to afford a median-priced entry-level home, you need to make at least $80,000 a year to cover the cost of the house and, most importantly, rising interest rates.

This results in most workers being unable to afford to purchase their first (or next) home and being forced to seek help by either living with their parents, sharing accommodation with friends or relatives, asking for financial assistance or Look for a financial buffer through part-time alternatives and generate passive income.

If you’re in a financial deficit and worried that despite working hard, you still can’t make enough money to cover everyday living and housing costs (plus extra costs for a bad day), check out these three passive income options of ideas:

1. Rent a spot on Swimply

You’ve heard of Airbnb, but you might not be as familiar with Swimply. Swimply is an app that allows you to rent out the space on your property and make money in the process.

If you already own your first home and are looking for ways to make extra money to cover the interest payments on your mortgage or are hoping to save a little more to move into a larger property, you can start where you are , and earn passive income by renting out rooms within your home or the entire home, like you would on Airbnb. The areas Swimply prioritizes are swimming pools and tennis, pickleball and basketball courts/courts.

2. Offer services through LinkedIn services

Another fantastic way to build passive income is to add a section called “Services,” also known as a Services Marketplace, to your LinkedIn profile. LinkedIn’s Services feature allows professionals to connect around a common need or solution when a company or individual has a need. If you provide a service, you offer the service and can accept requests and get paid for it .

While this isn’t completely passive (let’s be honest, there’s no such thing as completely passive income as there’s always some level of marketing and proactivity involved), it does help reduce the stress of finding clients as people will recommend you and recommended if you are looking for services such as graphic design, consulting, coaching or writing services – or other knowledge-based skills.

You can receive a large number of inquiries straight to your inbox and even redirect them to your website, where everything should already be automated for them to book and pay you. For this to work, you need to make sure your profile is relevant, complete, and actively engaged in your industry.

3. Sell stock photos online

If you’re an enthusiastic photographer (even if you’re not a professional), why not try turning your hobby or skills into a permanent source of income and sell your royalty-free photos to stock photo websites? You may have stunning images in your camera and don’t realize how much potential it has until you try to sell it. You can try sites like Alamy, Shutterstock, Getty Images, iStock.com or even try selling on Etsy.

You don’t have to feel stuck. Where you are, you’ll find the tools and resources to get out of your financial rut and make money – from your skills to the space in your home to your camera and laptop.