Making money without working? Wait, is that even possible?! Yes, it is, as long as you know how! These days, there are plenty of ways to earn extra money without having to work for it directly. This way of earning money without active involvement is called passive income.
Worried it’s gambling or something shady? Don’t worry; passive income can be earned legally without breaking any rules. Curious? Keep reading to find out more:
Passive income is a way of earning money without having to work directly for it. The opposite of passive income is active income, where you have to be continuously involved to generate income.
The simplest example of passive income is if your parents own a rental property. Even when they go to the office, the rent money from the property keeps coming in, right?
In today’s modern world, you don’t need to own rental properties to earn passive income. You can earn extra money in various ways, like receiving stock dividends, interest from bond investments, or even royalties from song copyrights.
There are plenty of benefits to having passive income! It helps diversify your sources of income, provides savings for the future, and helps you manage your salary more effectively. So, how can you start earning passive income? Keep reading to find out.
It’s not just Ghozali Everyday’s photos that can be sold. Aesthetic pictures of objects or your surroundings can also be sold on microstock websites like Canva, Pexels, Unsplash, and others. Not just photos, you can also sell designs or vector illustrations for users to download.
Typically, the income you make from these websites is based on how many people download your work. The more popular your content is, the more money you can earn.
Even though the legal regulations are still being developed, many Indonesian musicians know the importance of paying song royalties to the creators. Musicians can earn royalties when their songs are sung by other artists, used in commercial events, or played on digital platforms like YouTube or Spotify.
Got hiking gear like a puffer jacket, headlamp, or camping mat? Don’t let it sit unused! Rent out these items to hikers. It can generate a decent income. For example, if you rent out a puffer jacket for Rp40,000 a day, you could earn Rp80,000 since people usually rent hiking and camping gear for at least two days and one night.
Another way to earn passive income is by investing in the stock market. It doesn’t have to be expensive. With just Rp10,000, you can buy several units of mutual funds or even stocks (for stocks priced at Rp100 per share).
Nowadays, investing in the stock market is very easy. Download an investment app like Bibit, Stockbit, or IPOT, open an account, verify your identity, and you’re good to go! But remember, the more money you invest, the higher the risk.
Renting out assets or property you own is one of the classic ways to earn passive income. Got some land? Rent it out as a parking lot. Got a spare room? Rent it out as a boarding room or Airbnb. Got an empty house? Turn it into a rental property.
Any unused property can be rented out to others as long as it's well-maintained. Just make sure to set a fair price!
You can also earn passive income from monetized social media content. Once your content is eligible for monetization, it can continue to generate ad revenue as long as it stays online.
However, you’ll need the right equipment to produce quality social media content. From tripods to specialized podcast microphones, having the right tools is key to creating engaging content.
No need to stress over where to get the money for the tools you need to start generating passive income. With the Honest credit card app, you can easily access funds to get those tools. Honest is a credit card with a limit of up to Rp100 million, which you can manage entirely through your phone. Not only does it have a high limit, but the payments are flexible as long as you meet the minimum amount. You can even check the fees and interest rates before deciding how much to pay on your bill.
There are many ways to earn extra income, just like many roads leading to Rome. Your earning opportunities are endless as long as you’re creative and willing to hustle.
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