When I discovered passive income apps and earning methods, my earnings increased significantly! I think readers of Side Money Guide will be able to benefit from these earning methods, which is why I’ll be listing them down in this blog post.
What is Passive Income?
But before I tell you about you all my favorite passive income apps, I think we need first to define what passive income really means. A common definition I see in forums and online communities is that passive income is a lazy person’s earning method. Basically, all you have to do is kick your feet on your desk, and let the earnings flow into your PayPal account.
While it’s understandable while people might see passive income that way, that is not exactly accurate. Passive income still requires some degree of set-up or action. Some forms of passive income, like managing rental properties (which is a bit too next-level for this blog post) requires quite a bit of effort to make profitable. So passive does not mean lazy.
But with that said, with passive income you do not need to do anything on the day to day. For a certain period of time, the passive income method will take care of itself. Eventually, you will have to go back to it to make the necessary adjustments, but there’s usually no need to manage it on the day to day.
Once you’ve exerted effort setting it up, you can move on to other, more active earning methods like, I dunno, a regular job. So you’ve effectively doubled your earning methods for a given amount of time. I call this the “stacked” earning method. Basically, under the stacked system of earning, you utilize a mix of passive and active earning methods at the same time – you “stack” them one on top of the other.
But this blog post isn’t about active earning methods. This time, it’s all about the passive income!
Apps for Passive Income
With that intro out of the way, it’s time to show you all my favorite methods for earning passive income. Most of these include apps, but I will also include some non-app methods for earning passive income. Read on!
Swipe Ads on Your Phone’s Lock Screen
As far as passive money apps go, SlideJoy is positively brainless – and that’s why we’ll start the list with this app. When you install SlideJoy on your phone, the app will run in the background and serve ads to your phone’s lock screen. You can then choose to swipe it away or “engage” with the ad. You then earn the requisite amount of rewards. Super easy to do when you’re waiting on the kids, or stuck in the grocery check out line!
Install a Browsing Tracker
Nielsen Mobile is an app that will run in the background of your phone. It will “record” your online browsing behavior for market research purposes. You don’t have to do anything aside from browsing the internet as you normally would. But the earnings are pretty sweet. You could earn as much as $50 a year running this app on your phone!
Okay, this might make you feel a little uncomfortable, but there’s really no reason to worry. Nielsen is a trusted name in market research. Plus, all the data they harvest from your phone is completely anonymized. And passwords are not taken, of course.
Rent Out Your Space on Airbnb
To say Airbnb is one of my favorite passive money making apps would be an understatement. Airbnb has opened up a whole world of passive income for me! Airbnb is part of the so-called sharing economy. Using this app, you can rent out your property to travelers. The cool part is that you can also rent out just your spare room, if you can’t rent out your entire home.
I know a few people who are lucky (and wealthy) enough to have a few “spare” apartments that they have dedicated to renting out on Airbnb. They put in a lot of money and effort into making these units look super enticing to potential renters and travelers. So much so that these apartments look more like hotels.
Like I mentioned a while ago, they put in a lot of money into these apartments. But on Airbnb, you get what you put into it. So their investment was definitely worth it.
But if you’re like me and you don’t have a spare house, you can rent out a spare room instead. The thing that surprised me was that there are a lot of travelers (usually budget-conscious ones) who actually prefer rooms to entire apartments! But just because you’re renting out “just” a room, that doesn’t mean you can let it get dirty or unkempt. You still have to make sure your guests are comfortable staying in it.
Turning Your Car into a Rolling Advertisement
If you drive around a lot, you can make some good money by letting companies – such as Carvertise – install a vinyl wrap decal on your car containing an ad for certain products. The design of these ads are usually pretty tasteful, and don’t negatively affect the looks of your car at all – I happen to like them a lot; they make my car look like a sports car!
Once you sign up for this, you will have to agree to a certain route and drive that route for the prescribed period of time. Some companies will add a GPS tracker to your car to ensure that you stick to the agreed-upon route.
And don’t worry about the vinyl wrap – these are semi-permanent, and relatively easy to remove without damaging your car. Some companies will even include vinyl wrap removal as part of your contract!
Install Media Insiders
If you prefer truly passive income making apps like Nielsen, you can also try Media Insiders. This app also runs in the background and tracks your online browsing habits. You can even have it track your TV viewing habits for extra earnings!