3 Passive Income Streams For Smart Savers

 | 
September 30, 2022
UPDATED: 
September 30, 2022
3 Passive Income Streams For Smart Savers

Money is a hot topic right now, with as many as 40% of US households struggling with serious financial problems

That number looks set to rise in the future, as many of us continue to face rising prices and stagnating wages. 

It can be hard to contemplate taking on another job or significantly reducing your spending, so you’ll be happy to hear that there are alternatives.

One great way to earn extra cash is to find sources of passive income or ways to earn more money with minimal effort.

All you need to do is buy an appreciating asset or do the things you love while signing up for the right money-making platforms.

In this article, we’ll share a brief selection of some of the easiest ways you can earn a passive income and boost your savings with a minimum of effort. 

Invest In Bitcoin 

Bitcoin is one of the most well-known cryptocurrencies out there, and for a good reason. The currency is a great way to make extra income simply by holding it, as it appreciates in value regularly. There are also many other ways to earn using Bitcoin. If you’re new to cryptocurrency, then find out how to make money with Bitcoin using guides from the experts at Paxful. They can help you to find innovative ways to earn more cash through savvy Bitcoin investments. 

Rent Out A Spare Room

If you have a spare room in your home, then renting it out is an easy way to make some extra cash and enjoy some company. While a short-term rental option, such as Airbnb, might seem like an easy way to make money, changing tenants regularly can lead to more work for you. That’s because you’ll have to clean the room more often and spend more time on admin for each guest. If you rent the room out for a longer period of time, then you could find that you reduce your effort and find it easier to bond with your new housemate. 

Sign Up For Online Schemes

Many apps out there will pay users for everything from data to a small amount of time taking a short survey. So, it’s worth checking these out to see how you could make some extra cash just by doing the things you like online. Some of these apps even let you earn money just by playing games. Whatever you like doing online, there’s an app out there that will allow you to do it and get paid. Check out the passive income apps that are currently available to find the one that suits your needs and helps you boost your savings while you browse the internet. 

Taking on one or more sources of passive income is a great way to make your money work for you and earn extra cash without taking on more jobs. This list includes a range of innovative ways to make money quickly and easily- in many cases, without having to leave the comfort of your home. 

Author

  • Chuck is Score LA’s Executive Director of Events and Marketing. He aims to help business owners and would-be entrepreneurs in Los Angeles improve their business practices.

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