Yahoo Finance How To Earn $500 a Week in Passive Income During the Fall
You don’t need a second job to earn some extra cash. Passive income is a great way to help you generate income without requiring much time or effort to maintain. However, that doesn’t mean there’s no effort required at all.
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According to the Internal Revenue Service (IRS), passive income can come from rental property or a business in which one does not actively participate. But many passive income streams involve some type of upfront work or investment, and it’s definitely not a “get rich quick” strategy.
Here are some passive income ideas if you want to earn $500 a week this fall.
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Sell Digital Products
Develop digital products related to fall activities — holiday recipe eBooks, DIY craft guides, social media templates, phone wallpapers and designs — to sell online on platforms like Etsy, or your own website.
Digital products are generally cheaper to produce than physical products with lower overhead costs. Stock is also unlimited, so all you have to do is make it once.
According to Marmalead, some sellers make $50,000 per year, while others only make a couple thousand dollars. In an interview with Business Insider, Etsy seller Rachel Jimenez revealed that she makes $9,500 per month selling printable planners and seasonal templates. How much you make depends on how much effort you put in and the products you sell.
Rent Out Property
If you own property, consider listing it on Airbnb or VRBO as a short-term rental. Demand, property size, seasonal trends and amenities will dictate how much you earn. Tourist destinations may even have seasonal or year-round demand.
For example, New England is a popular destination for fall getaways. PureWow put together a list of the best Airbnbs for fall vacations based on guest reviews, amenities, fees, location, thoughtful extras and more. Some rentals were as much as $605 per night, but peak fees could increase in October due to demand.
Create a Blog
If you’re passionate about a certain topic, such as fall DIY crafts or activities, consider starting your own blog about that topic. According to finance blog Millennial Money, bloggers can make between $500 and $2,000 per month during their first year of blogging. It does take some upfront work, as you’ll need to build a website and create content.
Another option is to purchase a successful blog. Many full-time bloggers are able to make over $200,000 per year and work 10-30 hours per week, Millennial Money reported.
Start a YouTube Channel
If you prefer to create video content rather than blog content, consider starting a YouTube channel about your favorite fall crafts. According to Teachable, DIY and crafts are one of the most profitable YouTube niches.
The Sorry Girls, a Canadian group of women who create DIY and craft content, have over two million subscribers and their videos get around 200,000 views. Their estimated monthly earnings are between $1,100 and $18,000, Teachable reported.
Become an Affiliate Marketer
Do you already have a blog or YouTube channel? You can increase your passive income by becoming an affiliate marketer. This means you sell other people’s products on your website or channel and earn a percentage of the sales from those products.
To get started, sign up for programs like Amazon Associates and put a link to a product on your website, YouTube channel or social media. If someone clicks on your link and makes a purchase, you earn passive income from the sale.
License Your Photography
Photographers can license fall-themed photos to stock photography websites. When someone downloads the photo, you earn royalties. A popular website for stock images is iStock, and royalty rates for contributors range from 15% to 45% per file license, depending on the contributor agreement and type of file.
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This article originally appeared on GOBankingRates.com: How To Earn $500 a Week in Passive Income During the Fall
