- How do I produce a passive income if I have no time? Am I the
only person who needs to sleep? I get so frustrated hearing about
side hustles and passive incomes and feeling like there's no way
to join the movement because I don't have hours to spare. - Beverly
Hi Beverly - First of all, I very much empathize. Everyone
talks about all the ways to earn money without acknowledging the
time it takes, and that can be pretty annoying. Here are some things
that can potentially generate income without requiring too much
time or effort.
something out. The first thing people think about is a spare
room, and that's a great option. If you have a room in your apartment
or a guest house, that's a good way to make money without taking
on a part-time job. If you don't have living space available,
there are other things that can be rented. People offer the use
of their cameras, sound equipment, video game consoles for parties,
and all sorts of other things people want but don't have the money
to buy. If you don't have things like this in your possession,
you can still consider making the investment. Just make sure there's
a rental market for whatever you're considering buying.
2. Online surveys and services. If the reason you don't
have time is that you're already stuck at a desk 40 hours a week,
you might be able to multitask and start your side hustle while
at your main hustle. You won't get rich, but there are dozens
of companies that will pay you in cash and rewards points for
completing surveys online. Lots of people try these out and then
give up after a month or two because the gains aren't significant,
but if you're looking to pad your wallet just a bit, easy surveys
are a real option. You can also start working on freelance writing
and copyediting. While it takes years to become a full-time writer,
it's not impossible to find companies that outsource small projects
that will pay you anywhere from $5-$100.
3. Turn a hobby into money. Do you love baking or drawing
or knitting or organizing? Start an Etsy page and sell things
you make, or advertise your services as a professional home organizer
and see if people will book you for an hour on a weekend when
you're available. If you're searching for a way to make money,
you probably aren't going to find something that's tailor-made
for your abilities. Instead, you should see if you can create
the opportunity that fits your schedule and skill set.
| The thing I
love most about searching for passive income and side hustles is how
often these efforts lead to more fulfilling careers. Time might seem
like an insurmountable hurdle, but where there's a will there's a
way. Good luck, Beverly!
© Taylor Kovar
September 28, 2018
More "Go Far With Kovar"
Disclosure: Information presented is for educational
purposes only and is not an offer or solicitation for the sale or
purchase of any specific securities, investments, or investment strategies.
Investments involve risk and, unless otherwise stated, are not guaranteed.
Be sure to first consult with a qualified financial adviser and/or
tax professional before implementing any strategy discussed herein.
Past performance is not indicative of future performance. To submit
a question to be answered in this column, please send it via email
or via regular mail to Lessons on Wealth, 106 E Lufkin Ave., Lufkin,