10 Passive Income Ideas You Can Start Today
7 min readMake sure those extra dollars are rolling in, even when you're resting.
No one says no to more money, but there’s only so many hours we can work in a day before we need to take a break. If only there was a way to continue earning money even when you’re catching some Zzz's, right? But wait—there is! That’s the whole idea behind the concept of passive income.
Passive income is simply money you earn that doesn't include your employer. When done right, you’ll need to invest some energy and time to set it up at the beginning, but it should continue to generate income for you with little-to-no daily effort in the long run. Steady lah!
Here are some ideas to get you started:
1. Get paid to game
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“You everyday play game never study, next time how to find job?” is a common nagging refrain we always hear from our parents. Well, the tables have turned now, with millions of gamers earning money from livestreaming their gaming sessions on sites like Twitch!
Admittedly, it’s not that easy to find success as you have to be good (or entertaining) enough for people to enjoy watching you play, and those who like your content enough may donate Bits to you. These are the Twitch platform’s built-in currency, which can be converted to real money!
2. Create a digital course
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Over the years, you would have acquired a ton of skills and expertise from your job, or through your personal interests. Why not pass on that knowledge and make some money from it?
Using platforms like Udemy, SkillShare and Coursera, you can create an audio or video course, then kick back and collect the money when people sign up for it. It may require quite a bit of effort to design and create initially, but once it’s up and running, you literally don’t need to do anything else.
3. Sell your photos
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If you have an eye for photography and have amassed a great collection of photos, you may be sitting on a goldmine. Putting your photos on stock photography websites like Shutterstock, Getty Images and 123RF lets you earn money each time your photos are downloaded!
Whether you like to photograph people, buildings, or plants, there's someone out there who may find your images useful. You’ll only earn a small amount each time, but if you’re posting a considerable number of photos, it can add up.
4. Turn your designs into cash
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Got nifty design skills? Create a money-making machine by selling items with your artwork on them. And no, you don’t even have to produce them yourself!
Sites like CafePress and Zazzle allow you to submit your designs online for customers to browse. If they like your creation, they can purchase items like T-shirts, mugs, hats and more customised with your artwork.
5. Start a blog / YouTube channel
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Are you an expert on sneakers or a fitness guru? Whatever your passion, you can monetise it by creating a blog or YouTube channel on the subject. You’ll have to first build up engaging content to attract your audience, but it can create a steady income stream over time by running ads on your blog/channel.
The key is to choose an area of interest with a profitable audience—you may be extremely knowledgeable about pet iguanas, but there might not be many people who share your hobby! You won’t know for sure until you experiment, so start small and see what sticks.
6. Earn $$$ for your social media posts
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If you’re the type who likes to take pictures of your food and posts it on social media, think about it—that’s essentially an advertisement for the restaurant. Shouldn’t you be getting paid for it? The good news is, now you can!
Partipost is a digital marketing platform that pays you to post about brands on your social media accounts. And no, you don’t need to have a massive number of followers to join. Literally anyone with a social media profile can sign up on the Partipost app, which is free to download! You will be able to earn anything between S$2 to S$100 for your posts.
7. Receive commissions through affiliate marketing
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If you’re the lobang king or queen of your group and friends generally trust your product recommendations, affiliate marketing is another way to generate extra income from your social media following.
Essentially what you do is to promote a website’s products (e.g. Amazon) by posting a unique affiliate link on your social media. When someone buys through that unique link created for you, you’ll get a commission. It’s that simple! Popular affiliate programmes include those from Amazon, Shopee and Lazada.
8. Get into dropshipping
One of the more profitable passive income ideas that’s gaining in popularity is dropshipping. It involves creating a website, choosing an area of interest, and marketing products from a supplier. When a client places an order, you then purchase the item from the manufacturer and have them ship it directly to the customer. The beauty of dropshipping is that you don’t ever have to deal with the hassle of transporting or handling the goods!
You will need to assess what products are in demand, and secure a dependable supplier. You’ll also need digital marketing skills to push your products online.
9. Advertise on your car
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Driving a car in Singapore can be expensive, so here’s an idea to help manage the cost—rent out the space on your car to advertisers! Companies like MOVO will pay you up to S$300 to wrap your car with ads from their clients. All you need to do is drive your car around like usual and watch the extra money come rolling in.
10. Sell stuff you don't need
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Chances are, you’ve got a lot of stuff lying around the house that you don’t need anymore and are still in good condition. Instead of throwing them out, why not get some cash for it by selling it on sites like Carousell? After all, one man’s trash is another man’s treasure. There might just be someone out there who will gladly take your son’s used toys off you!
Get a boost for your financial goals
Passive income streams are a great way for you to get a leg up on your savings goals without putting in too much extra effort. Some can even tide you over should you lose your 9-5 job! This list is a good place to get started, but there are plenty of other passive income ideas out there too. Happy exploring!
The eldest of the Tng family. Smart, buff, responsible, and very single. Bobby works in IT in the civil service and is a loyal son, brother and friend. Like his father, he is always brewing with ideas and his greatest wish is to be an entrepreneur one day.