Passive Income Ideas: Different Ways to Make Extra Money In 2023

Updated 03/08/2023

Choosing the right passive income can give you the autonomy to make extra money while you sleep. Importantly, you may just put in a few hours per week to your side business, which allows you to make extra money coming to your bank.

In case, your side hustle can blossom by generating a real income to cover your living expenses, then you may consider escaping the 9-5 job, which gives you much greater autonomy and flexible working hours.

For your consideration, here is the list of passive side hustle ideas that may help you to make extra money, with one condition, you must deliver hard work and commitment to the project in the long run.

1. Make money online by creating an online course

2. Start a blog

3. Sell products online

4. Rent out your car

5. Rent your space on Airbnb

6. Earn money online by flipping websites

7. Write an Ebook

8. Create a Youtube channel to make extra money

9. Certificate of Deposit ( CD Savings)

10. Make money by investing in Dividend Stocks

11. earn cash back

Key Takeaways

• Smart passive income ideas allow earning money online or at home.
• There are several ways to make money online, which you could consider a passive income.
• Determine your skill and talents, before choosing the right side hustle idea to create passive income.

The top 10+ smart passive income ideas to make extra cash.

The following are 10+ passive income ideas to earn you additional cash in your pocket. If you are committed to creating several smart passive incomes and continued to put effort and hard work to achieve the long-term goals. The chance you will earn unlimited income while you are sleeping is highly likely.

1. Earn money online by creating an online course

With the advancement of technology, it’s not difficult to find an online course for learning something new in your free time. There are many ways to search for the most qualified online course.

You could either receive a recommendation from a friend, or relative, or at least search on the internet to find out the right course, which helps you to learn new skills and be able to pursue your dreams in the future.

By updating with the trend, you could consider launching an online course to help people learn a new skill or improve their knowledge. Instead of taking live lessons, you could organize and compile all the necessary course materials by recording video lessons, writing model answers, and creating spreadsheets, just to name a few.

After compiling all these learning lessons on a file, then you can offer to sell an online course to help others solve their own problem. When you deliver value to the community, it means they are happy to pay you remuneration for their hard work and creativity.

•  Udemy is one of the trusted online money-making sites when it comes to creating online courses. The platform has more than 183,000 online courses with over 40 million students from all over the world. You almost can learn anything, such as data science, marketing, and web design, to name a few.
• Thinkific is another big player in the market for selling online courses. The platform has helped thousands to create online courses while earning additional passive income.

2. Start a blog

The second best side hustle idea is to “ Start a Blog” due to the fact that it helps to create regular recurring income in your pocket if you are committed to sticking with the blogging project in the long run.

With a little investment upfront to cover Web hosting and purchase a domain name. You may consider several cheap and reliable web hosting providers like Cloudways or Hostinger. These two affordable web-hosting providers offer relatively inexpensive shared web hosting plans, with 24 customer support that can help to accelerate your blogging business.

It gives you the choice to live the life you desire in terms of financial aspects and the freedom to pick your working hours and locations.

Specifically, running a blog can open the door to multiple income streams, and you may do your research to find different sources of revenue that you would like to implement on your blog. 

Here is the list of proven ways to make money online blogging for beginners

• Open an e-commerce store.
• Monetize your blog’s content by using the following great earning sites besides Google Adsense.

1. Propellerads – Easy to set up and almost get instant approval from Propellerads. Publishers will have a range of advertising options and campaigns available such as push ads, pop-up links, and banners, which ensure that you can maximize your site earnings with them (Google Adsense alternatives).

2. Ezoic Access Now– is another great platform to provide content monetization solutions for websites besides Google AdSense. Notes, it is an official partner of Google AdSense, and, you can easily change to displace ads with Ezoic with just one click on the google account. Then, Google will send you a confirmation email for your wish to change to Ezoic.

3. Infolinks– Best for in-text ads and safe to run both Infolinks ads and other ad platforms at the same time. In particular, it has a range of ad types such as in-text ads ( directly attach and link the highlight words in articles), in-frame, and banner ads.

4. Sun ad network– This is an ideal solution for content monetization by using pay-per-click (PPC), and costs per action (CPA), your blog or website will be able to generate extra income by displacing ads on the content.

5. Amazon Associate Program-Best for an affiliate program by displacing links for earning commission on your site.

• Affiliate marketing program: ClickBank, commission junctions.
• Sell Sponsored Blog Posts.
• Run an online course. 
• Sell online courses.
• Sell Digital Products on your Blog.
• Coaching one on one.

3. Sell products on Etsy

Etsy is an online marketplace, which allows people to sell their own products and service on the platform. Most people use Etsy’s online marketplace to sell their own handcraft, and vintage products to potential buyers.

By creating your own products to sell on Etsy, it can be considered a fun passive income to earn money online. However, you must have good creative skills to design a better product that attracts a number of clients.

Related reading: how to earn money online without investment ( surveys for money)

4. Rent out your car

Renting out your car is another great way to make extra money, which allows you to earn passive income. Instead of letting your car park inside the garage, you may consider leasing it out for creating an additional passive income source.

Indeed, it may be an ideal passive income for those who don’t often use their car more than 5 times a week. For this reason, leasing out your car will help to cover part of your living expenses including mortgage, car loan, and others.

And, you may have a chance to make extra money, around $500 a month for renting your car. There are two options you could consider to earn extra money.

• Rent out your car privately.
• Go through third-party car rental companies to rent out your car for earning an additional income.

HyreCar is an online marketplace, which allows you to list your car for earning money. The process is quite simple as you only need to list your car on the platform, then HyreCar will do its job by finding a suitable renter.

One thing to keep in mind is that your car will be rented out to those who are going to drive for Uber, Lyft, and other delivery services. The fee is quite transparent as they take a commission between 15-25%, which depends on how much you are willing to pay for the rental protection plan.

5. Rent your space

Airbnb is well known for its global image in relation to the rental space for tourism, vacation, and work purposes. This online marketplace allows the member to post their vacant apartments or empty rooms online to make extra money.

It’s one of the best passive income ideas over the years, where people use their space to make extra money while helping other tourists or professional employees save their money.

One thing I should remind that you have to do the following jobs as a homeowner to ensure your site is making money on Airbnb.

• Provide good service in terms of making the room clean.
• You also need to answer customers’ inquiries about rental information.
• Clean and change towels, mop the floor and ensure the customer are happy with the facility.

In case, you have more than 4 or 5 apartments to rent out on Airbnb, then you may consider hiring a property manager to manage and handle all the jobs. Thus, it could be one of the smart passive income ideas to make extra money.

Alternatively, using Neighbor is another way to make money through passive income by renting out unused space to local users, who will pay you a recurring monthly income for car storage, self-storage, etc.

6. Earn money online by flipping websites

Flipping websites is another stunning way to earn money online so that you can create a passive income for your side business. In particular, you may consider using Flippa as an option to buy and sell websites online for making a profit.

In addition, if you are an expert in web design and know-how to add quality content to your site, then you should select this as one of the passive income ideas to make extra money.

In particular, you buy a quality website with quality content and regular traffic, then make a change to ensure your site can increase revenue, which you can resell back for a higher price.

7. Write an Ebook

One of the smart passive income ideas is to write and publish an Ebook, which helps to generate a regular income for at least the next 5 years. With one condition, your book must get a constant buyer in order to generate a decent income in the future.

If you commit to putting in all your hard work and diligently writing up a quality book, then you can publish an ebook on Amazon Kindle Direct Publishing or Wallmark to generate a passive income and earn money online.

Importantly, sell your ebook directly on your own website, which is considered the perfect way to create different sources of income from your blog business.

You can select a topic to write a book that is based on your blog niche. It will save you a lot of time to collect the information and gather other additional data for producing an ebook. Thus, you just need to copy the important information on your blog posts and start to develop the idea from there.

Additionally, publishers can refer to other online sources on how to publish an ebook, which allows you to take notes if necessary to publish a successful digital product.

The good thing about ebooks is that you keep selling the product over the year without any expiration. What you need to do is to update a better version of the same information in the book after 5 years.

8. Create a Youtube channel to make extra money

Become a Youtube is another great passive income stream to make money online for 2021, it gives you the option to decide the life you desire, once your youtube channel started to generate regular income. This is because popular Youtubers make thousands of dollars every month. And the secret is you have to keep up with the work and constantly post at least two videos a week.

Google will look at this and it will rank your site higher in the Google Search Engine because the content you create contributes overall value to the global community.

Depending on the niche, you can concentrate on posting regular videos about a particular topic such as food, travel,  car, finance, lifestyle, and so on.

Once your site meets Google minimum requirements: 4000 hours of watch and 1000 subscribers- then you are entitled to monetize traffic with youtube. In other words, Google will pay monthly salaries based on the number of views and clicks on ads.

Importantly, you must regularly create new content, properly one or two videos a week, and the video must have a high sound quality and look more professional to drive organic traffic and scale up the list of subscribers for your business. 

For this reason, we highly recommend using Filmora to make high-quality Youtube videos, the software allows users to create a professional video with tons of features, including audio effects, transitions, and sound quality, to name a few.

Warning: you are going to face stiff competition with other YouTubers because almost everyone has their own youtube channel and it makes it even harder to earn a real income.

For this reason, there is no secret to success with the Youtube journey:

• It requires constant posts.
• Genuine Content.
• Create value for the audience in terms of entertaining or solving problems.
• Share posts on social media
• Share video posts on another youtube channel.
• SEO: keyword search.

9. Certificate of Deposit ( CD Savings)

The certificate of deposit (CD) is considered beginner passive income as the only thing you need to do is to find a reliable financial institution that allows you to earn a high yield return of your money in terms of interest rates.

Obviously, CD savings won’t help you to receive a high return on the investment due to the fact that it’s a low-risk investment and you will receive initial investment money plus interest at the end of the saving term.

For this reason, CIT Bank is an ideal solution for creating and earning extra cash by opening a secured CD account with them. The bank offers a higher interest rate on one of its CDs products, which is around 0.30 to 0.5% APY.

10. Earn money online by investing in Dividend Stocks

Dividend stocks can earn you a recurring passive income over time if you get familiar with how to choose the right investment product. In particular, you must take time to do due diligence research to figure out the best evident stocks, which allow you to make extra money by receiving dividend payments.

It’s essential to select a useful research tool. It not only provides the financial information of each stock but also helps you to find the right investment product.

We recommend using TradingView or Yahoo Finance to conduct a stock analysis, which helps you to get familiar with stock charts and other important financial information.

There are two ways to make passive income with dividend stocks:

• Invest in individual high-yield dividend stocks.
• Alternatively, search for dividend mutual funds and ETFs, which may provide potential rewards in the future.

In addition, if you invest in dividend mutual funds or ETFs, then pay attention to management fees or service fees. Your dividend investment may get impacted if there is a high management fee.

One of the great investment platforms is M1 Finance, which allows you to build your investment portfolio over time. You can either use the super app or website to deposit money and earn a passive income source from it.

11. Best Cash back apps

Perhaps, earning cashback may not be considered one of the solid ideas for passive income because you need to spend to save money. However, it’s still better than nothing.

With the best cash-back apps, including Upside ( great for saving money on purchasing gasoline) and TopCashback ( best cashback for purchasing food, plane tickets, hotels, restaurant, beauty products, etc).

Indeed, you can claim the cashback via PayPal, e-gift cards, or even bank transfers.

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