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Wednesday, February 28, 2024

7 Easy Ways to Make Money While You Sleep

Imagine waking up in the morning and turning over to check your smartphone to discover that you made money while you slept. The ability to make money with minimal effort is the icing on the cake of financial freedom. This is called passive income and even for the common person there are several ways to make money while you sleep.

To invest

There are always companies making money, and if you can grab their coattails, you can make money too. With a good investment strategy and the discipline to put some money aside every month to invest in your future, seeing how much money you’re making is as easy as checking the newspaper or a financial website. Platforms such as Personal Capital And Improvement have both been successful in providing brokerage and advisory services to hundreds of thousands of clients.

Peer-to-peer lending

Peer-to-peer lending is really just a matter of doing it specialized form of investing. You choose your risk level and the amount you want to contribute to help finance a loan to someone. When the loan is paid off, you get your money back with interest. This takes no effort on your part, the loan holder can make repayments at any time of the day, meaning you can make money while you sleep!

Rental property

This will require money in advance to secure some property. You then rent the property to someone else, charging more than your payment (assuming you have one) plus maintenance fees. There will be periodic work that needs to be done, but the majority of the time when the rent check comes out each month you will simply see your assets grow! Rental properties have been great for some people – like the team at DINKs Finance, they managed to book $11,000 from actively managing their properties – in just five weeks.

Stock photography

If you’re good behind a lens, you can sell your photos on sites like ShutterStock to people (like blog owners!) looking for stock photos. People from all over the world can view your photos and pay to use them. Selling photos that you may already have saved on your phone or computer is a great way to make money while you sleep!

Multi-level marketing

If you’ve ever attended a home party where products were being sold, you are exposed to multi-level marketing. The representative certainly makes money from the purchases made, but he also makes money by signing up others as a representative. People in MLMs typically get a percentage of the sales of the people they bring into the business. You might wake up in the morning and find out that one of the people you signed up with had a huge sale the night before, which means more money for you!

Credit card rewards

The most lucrative passive income channels are those where you get paid for activities you normally do anyway. We all buy things to get through life; groceries, gas, clothes, etc. Why not earn some money back by simply paying with a credit card. Making money with minimal effort is an ultimate financial goal, freeing up time for other things you enjoy. Making money while you sleep may sound like a dream, but it can become a reality!

What about you Clever Friends, how else can you make money while you sleep?

Finally, if you have a smartphone and want to make some extra money, consider reading Wealth of Geek’s article on Apps that pay to game. It’s a nice thing that you want to earn extra money in your spare time.

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