In the digital age, earning money without exerting much effort has never been easier. Thanks to many passive income apps, you can make extra cash while you sleep, work, or even travel. Here are some top inactive income apps to consider if you want to boost your income with minimal time investment.
1. Acorns Overview
Acorns round up your everyday purchases to the nearest dollar and invest the change. For those unfamiliar with investing, it’s a great way to start without deep market knowledge.
How it works: Link your credit card or bank account, purchase, and watch your spare change get invested in a diversified portfolio.
Potential earnings: Depends on the market, but many users report decent returns.
2. Honeygain Overview
Honeygain allows you to share unused internet bandwidth in exchange for cash.
How it works: Install the app on your devices, let it run in the background, and earn passive income.
Potential earnings: Up to $30 per month, depending on your internet connection and the amount of traffic.
3. Turo Overview
Think of Turo as the Airbnb for cars. Rent out your vehicle when you’re not using it.
How it works: List your car on Turo, set your price and availability, and earn when someone rents it.
Potential earnings: Variable, depending on car type and rental frequency. Some users earn over $500 per month.
4. Cashback Apps (Rakuten, Dosh, Drop) Overview
These apps offer cash back for purchases made at partner stores.
How it works: Shop normally at your favorite stores and earn a percentage of your purchase as cash or rewards.
Potential earnings: Varies depending on purchases but can add up over time.
5. Slidejoy Overview
Slidejoy turns your smartphone’s lock screen into an advertising space.
How it works: By displaying ads on your lock screen, you earn ‘carats,’ which can be redeemed for cash.
Potential earnings: Around $5 to $15 per month.
6. Outschool Overview
Outschool lets you create and teach classes to eager learners if you have expertise in a particular subject.
How it works: Create a class, set your price, and teach when you want. It’s not 100% passive but requires less time than a regular job.
Potential earnings: Teachers report earning anywhere from $30 to $100+ per hour.
7. Real Estate Crowdfunding (Fundrise, RealtyMogul) Overview
Crowdfunding apps allow you to invest in real estate without buying property.
How it works: Invest money into a pool, and this pool gets used to fund real estate projects. Earn returns based on the success of these projects.
Potential earnings: Varies based on investment and market conditions, but many platforms boast 8-12% annual returns.
8. Helium (HNT) Mining Overview
Helium’s unique approach lets you earn cryptocurrency by building a decentralized wireless network.
How it works: Purchase a Helium hotspot, set it up, and earn HNT as it provides wireless coverage.
Potential earnings: Varies depending on location and network demand, but some users report over $100 per month.
9. Robinhood
It has revolutionized the investment landscape by offering free stock trades to its users. This user-friendly platform democratizes finance by eliminating trading fees and welcomes newcomers with an enticing incentive: a free stock upon sign-up. This generous gesture ensures that every new user begins their investment journey with tangible assets in their portfolio. Whether you’re a seasoned trader or a beginner exploring the stock market, Robinhood’s intuitive design and cost-effective approach make it a preferred choice for many aiming to grow their wealth.
10. PeerStreet
PeerStreet stands as a beacon for those interested in diversifying their investment portfolios. It offers a unique avenue, focusing on real estate-backed loan investments. Instead of directly investing in properties, users invest in loans secured by real estate, combining the stability of the property market with the flexibility of loan investments.
This platform allows investors to tap into the lucrative world of real estate without the complexities of property management. PeerStreet allows investors to earn passive income by channeling funds into real estate loans while benefiting from the underlying asset’s security.
11. Fluz: The Next Level of Cash Back Rewards
Fluz is not just another cash-back app; it brings an innovative twist to reward systems. While users receive cash back for their direct purchases, what sets Fluz apart is its referral program. Every time someone you’ve referred makes a purchase, you also earn a portion of the cashback. This dual-reward mechanism incentivizes users to shop and spread the word about Fluz, creating a cascading effect of benefits. It’s a win-win for all: savings on purchases and additional earnings from your referrals’ shopping endeavors.
12. HealthyWage
HealthyWage offers an innovative approach to weight loss motivation. Instead of relying solely on willpower, the platform allows you to place a monetary bet on your weight loss goals. As you work towards achieving your set targets, you get closer to your desired physique and stand a chance to win the bet and earn money.
This unique blend of financial incentives and personal health objectives transforms the weight loss journey into a thrilling challenge. By merging the excitement of a wager with the benefits of improved health, HealthyWage ensures that your path to fitness is both rewarding and lucrative.
13. Rover: Turn Your Love for Pets into Earnings
Pet lovers, rejoice! With Rover, transforming your affinity for animals into a steady income stream is now easier than ever. You can find regular bookings with needy pet owners by offering pet-sitting services through this platform. Once established, this can become a consistent and rewarding source of passive income.
As demand for trustworthy pet sitters grows, securing repeat clients becomes seamless. Rover provides an opportunity to monetize your passion and ensures you regularly have a joyous and furry companion by your side, all while your bank balance grows.
14. Udemy: A Platform for Knowledge Sharing
Online education has become a cornerstone for skill acquisition in today’s digital era. Udemy is a premier platform where experts and enthusiasts can create and sell their bespoke courses. By transforming personal expertise into comprehensive online courses, instructors not only share their knowledge with eager learners worldwide but also generate a potential source of income. For learners, Udemy offers a vast repository of topics, ensuring that regardless of their interest, there’s a course tailored for them, making learning accessible and flexible.
15. Skillshare: Monetize Your Expertise
Skillshare offers a platform where expertise meets opportunity. By crafting tutorial videos on subjects you’re passionate about, you can reach an eager audience keen on learning. Each view translates to earnings, making it not just a platform for sharing knowledge but also a source of passive income. Whether you’re a seasoned professional or a hobbyist, Skillshare provides the tools and the audience to turn your skills into valuable educational content. As viewers tune into your tutorials, you establish your authority in the field and earn every time your insights are accessed.
16. Patreon: Cultivating Consistent Support
In today’s digital age, content creators, artists, and influencers seek sustainable ways to monetize their crafts. Enter Patreon, a platform where passionate fans or followers can directly support their favorite creators through recurring financial contributions. Instead of relying on sporadic sales or unpredictable ad revenues, Patreon creators enjoy a steady income stream. This mutual arrangement empowers creators to produce quality content consistently while fans gain exclusive access or perks. Patreon is reshaping the landscape of creative financing, nurturing closer bonds between creators and their communities.
17. Podbean or Anchor
Podcasting has revolutionized the world of content creation, and with platforms like Podbean and Anchor, monetizing your voice and ideas has never been easier. Podbean offers many monetization options, from premium content subscriptions to patron programs, enabling podcasters to earn directly from their audience. On the other hand, Anchor, owned by Spotify, simplifies the monetization process by offering sponsored content opportunities, making it seamless for creators to integrate ads into their episodes. Both platforms pave the way for podcasters to turn their passion into profit, ensuring their hard work and dedication find both an audience and a rewarding income stream.
18. YouTube: A Platform for Content Monetization
With YouTube’s expansive reach, creators have multiple avenues to turn their content into a revenue stream. By enabling ads on videos, YouTubers can earn from every view, tapping into the platform’s vast advertisement network. But it doesn’t stop there. Creators can further boost their income through channel memberships, allowing loyal subscribers to pay a monthly fee for exclusive content or perks. Additionally, during live streams, the Super Chat feature lets viewers send highlighted messages in exchange for a fee, offering an interactive way to support their favorite channels. With these features, YouTube becomes a platform for sharing and earning.
19. Blogging Platforms
In digital content creation, two platforms have notably become prominent for bloggers: WordPress and Medium’s Partner Program. WordPress, a versatile and customizable CMS, offers myriad monetization avenues like affiliate marketing, sponsored posts, and ad integrations. On the other hand, Medium’s Partner Program presents a more streamlined approach. By producing quality content on Medium, writers can earn directly from the engagement their articles receive from paid subscribers. Both platforms cater to different blogging styles and objectives, yet each provides a unique avenue for writers to generate substantial income from their content potentially.
20. Shoptracker: Transform Your Shopping Habits into Rewards
In today’s digital age, consumer data is invaluable. Shoptracker presents an enticing opportunity for shoppers to benefit directly from this trend. By sharing your purchase data, not only do you contribute to a broader understanding of market trends, but you also earn tangible rewards in return. This platform respects user privacy and focuses solely on e-commerce shopping patterns, ensuring your sensitive information remains confidential. Join the wave, let your shopping habits pave the way for perks, and become an integral part of the future of market research with Shoptracker.
Tips for Using Passive Income Apps:
- Diversify: Just like any investment, it’s essential to diversify your passive income sources. Try multiple apps to see which ones work best for you.
- Consistency: The more consistent you are with using these apps, the more likely you’ll see significant earnings over time.
- Stay Updated: The digital landscape is always evolving. Stay updated with the latest apps and trends to maximize your passive income.
Frequently Asked Questions (FAQs)
1. Which passive income apps require the least effort to set up?
Answer: Among the passive income apps, Acorns, Robinhood, and Dosh stand out for their simple setup. Acorns round up your daily purchases and invest the spare change, Robinhood provides free stock trades and a bonus stock for new sign-ups, and Dosh offers cashback on purchases made through linked cards without needing manual coupon redemption. Once these apps are installed and accounts are linked, minimal ongoing intervention is required, allowing users to earn relatively easily.
2. How safe are passive income apps when it comes to user data?
Answer: The safety of passive income apps varies, but reputable platforms prioritize user data protection. They employ encryption, secure data handling practices, and two-factor authentication. Before using any app, it’s vital to check its privacy policy, user reviews, and security features. Established platforms like Acorns, Robinhood, and Rakuten have robust security protocols. Still, users should exercise caution, use strong, unique passwords, and periodically review app permissions.
3. How do passive income apps like Honeygain and MobileXpression work?
Answer: Honeygain and MobileXpression operate by leveraging a user’s internet connection. Honeygain shares a user’s unused net bandwidth with data scientists and businesses, compensating users for shared data. MobileXpression, on the other hand, monitors internet usage and collects data to understand trends and behaviors, rewarding users for their participation. While they provide passive income, potential users should be aware of the data they share and ensure they’re comfortable with the trade-off.
4. Can passive income apps replace a full-time income?
Answer: While passive income apps can supplement one’s earnings, they typically cannot replace a full-time income. These apps are designed to provide additional funds or save users money on purchases. Platforms like Acorns or Robinhood might yield significant returns if investments perform well, but the inherent risk is involved. Viewing these apps as tools for extra cash rather than primary income sources is beneficial.
5. How do cashback apps like Rakuten and Dosh generate revenue for users?
Answer: Cashback apps like Rakuten and Dosh partner with retailers and earn a commission for directing users to shop at these partner stores. When users make purchases, a portion of this commission is passed back to them as cashback. Essentially, these apps incentivize shopping through their platform by offering users a percentage of their earnings. Over time, consistent use can lead to substantial savings, making these apps attractive for frequent shoppers.
Conclusion
The allure of earning money without much effort has made passive income apps increasingly popular. Whether you’re looking to supplement your income or build a sizeable savings nest, these apps can provide a helpful boost to your financial goals. Always research and find the best apps that fit your lifestyle and economic aspirations.
Disclaimer: Earnings from passive income apps can vary based on numerous factors. Conducting your research before making any investments or decisions is essential.
