How Passive Is Passive Income, Really?
Updated: Jul 23
What is the first thing that pops into your mind when you think about passive income? Let us guess: you see yourself lying in a hammock and slowly blinking in the bright sun with a fancy drink in your hand while your balance keeps growing on itself somewhere in a bank. Well, we’re sorry to break it to you… But it’s rarely ever this simple.
More often than not, there is work involved – and it’s neither quick nor easy. According to the Corporate Finance Institute®, passive income is any money ‘that does not require too much effort’ to earn – but what does too much mean? Let’s see how passive some of the most common passive income ideas actually are and where Honeygain fits in this puzzle!
Finding a way to earn effortlessly is not easy – and yet, it’s possible! With Honeygain, all you have to do is download the app and leave it running in the background as you go about your day.
🏠 Renting your place out on AirBnB – 5%
While it’s often included in various lists of passive income ideas, AirBnB is barely passive at all. Basically, the only thing you won’t need to do is buy real estate exclusively for renting. However, you might need to invest a little to make your place more attractive to potential guests – get a faster Wi-Fi plan, buy a hairdryer or a microwave.
In addition to that, you’ll need to create an attractive listing, take professional photos, and communicate with your guests – and that’s just online! You’ll also have to meet your guests to give them the keys and clean the place up once they leave. Many hosts also provide free toiletries and pantry staples (coffee, tea, etc.) – which adds shopping to your list of duties!
🎥 Creating an online course – 15%
Technically, once you have an online course on sale, you are earning passive income… Well, mainly passive, as you might still want to promote it or answer your students’ questions. Both of these are helpful but optional. The trouble is, there’s a ton of work involved in getting that course ready in the first place.
First, you need to choose a good topic, research it, plan and outline the course. Then, there’s video production. If you haven’t done this before, it will take multiple takes to get right – and once you’re done, you’ll probably need to edit the videos, too. You might need to create additional readings, tasks, or quizzes to improve your chances too!
📚 Writing an e-book – 25%
For most people, an e-book is easier to create than an online course: you can edit and rewrite text a million times, and there’s no taking your words back when you’re on camera! Plus, you don’t need to worry about video production or the content being educational. If you’re a creative bee, you can publish fiction, too, be it a thriller, a romance, or even fanfic.
Aside from coming up with a unique idea and writing the text, you will also need to worry about cover art, editing, proofreading, layout and page design. For some of these tasks, you might even have to hire professionals - and once the book is out there, you still need to promote it, perhaps even by offering a few copies for reviewers free of charge.
According to the Corporate Finance Institute®, passive income is any money ‘that does not require too much effort’ to earn – but what does too much mean?
📣 Affiliate marketing – 35%
Affiliate marketing means promoting a company or a product and collecting a small commission on every sale (or, in some cases, every sign-up) you attract. It’s also one of those passive income ideas that are easy to misjudge.
In theory, all you need to do is share your unique affiliate code or a link that includes it, and collect money once people use them to buy stuff. However, to have people clicking, you need to have a solid Internet presence and a fair amount of traffic to your website, blog, or social media account - and that takes a lot of time, effort, and even luck to build.
📦 Dropshipping – 50%
Dropshipping means running an e-store that offers goods you don’t actually have in storage. Confused? It’s easy: every order is sent to the manufacturer (or the wholesaler), and they send out the goods to the buyer directly. The owner of the e-store earns by collecting a commission from every sale.
The actual amount of work you might need to do depends on the size of your e-store and the number of manufacturers you’re working with – however, you don't need to worry about storage, packing, or postage. Your duties are basically limited to communication – which entails promotion, customer support, and keeping in touch with the manufacturers.
👕 Creating product designs – 65%
In the times of quarantine and working from home, the sales of comfortable clothes have skyrocketed. However, most of them aren’t that unique – and people love feeling special! If you have any artistic abilities, be it graphic design or watercolors, you can reuse your older works as designs for custom clothing or other items.
Once you upload them to a print-on-demand store like Redbubble, people can choose to get them printed on products like T-shirts, mugs, journals, or facemasks. To boost your chance to earn, look into the most popular themes and try to match the demand!
💸 Peer-to-Peer Lending – 80%
Some people prefer not to borrow from banks, and others simply don’t get their loan requests approved. That’s what Lending Club and others similar websites are for: anyone can lend their money to others and earn some interest (5–10%, typically) by doing so.
Obviously, you can only use this way to earn if you have extra money already, so it’s not really suitable for students or unemployed people. Lending comes with a certain risk, too, so you need to put some serious effort into evaluating requests carefully and scaling your investments to minimize potential losses!
🚗 Placing ads on your car – 90%
If you have a car and drive a lot, you can make passive income by allowing companies to advertise on its surface. Once you fill out the application on a website like MyFreeCar, your car and driving habits are evaluated, and you might get an offer from a sponsor that’s interested in promoting its services in your area (obviously, some locations are way more popular than others!).
If you agree to advertise the business, vinyl cast advertisements will be placed on your car by a certified installer. Now, all that’s left to do is drive around as usual, have your car ready for monthly inspections, and collect your payments!
🐝 Using Honeygain – 100%
As you can see, finding a way to earn effortlessly is not easy – and yet, it’s possible! With Honeygain, all you have to do is download the app to your Windows, macOS, Linux, or Android device and leave it running in the background as you go about your day: the app will automatically generate passive income by sharing your bandwidth.
You can put in a little more effort if you want to boost your earnings – install the app on more devices (up to 10 can be used on a single account!) or participate in Honeygain’s referral program, daily Lucky Pot, and social media contests. However, none of these is required or particularly time-consuming, so it’s quite a stretch to call that an effort!
Join the world’s largest crowdsourced web intelligence network now – become a Honeygainer by clicking the button below, get your first 🎁 $5 FOR FREE 🎁, download the app to your devices and start earning free money effortlessly right away! 👇