Who doesn’t want to find a way to make passive income that you can make through your mobile apps? We all dream of making extra money while we sleep. Warren Buffet once said, “if you don’t make money while you sleep, you will be forced to work the rest of your life.”
In the past, we had to own businesses or invest in investment stocks from banks to make passive income. Now, thanks to smartphones and mobile apps, that dream is a reality.
In this article, I will share 10 of the best passive income apps you can download to start making money. They will be ranked based on difficulty, time spent, potential, enjoyment, and level of risk.
10 Income-Paying Apps to Download Today!
These apps may differ based on which country you originate so do also do your research.
Gift cards
Got old Christmas gift cards from Amazon, Starbucks, or Target? If you aren’t quite sure whether to redeem it and it ends up in the drawer. I get that!
In a survey from Bankrate survey, they found that 50% of American consumers have gift cards and store credits that they don’t use. Yet only 8% of those adults have ever sold a gift card. The average value of these unused gift cards and credits is worth $167 per person. We’re leaving a lot of money on the table—or, in this case, in our desk drawers.
Companies like Raise and CardCash let you sell gift cards for as much as 92% cashback. Although you may not be able to get the full sum, you get to use the cash given to you to spend on other things.
Heck, you can even use it later on another money-making income-paying app later as you read along.
Investment Brokerage apps
Investing used to be for the big boys! The Wall Street investors and bankers all ruled the investing world. But not anymore thanks to investment apps such as Webull and Tiger Broker. You can set up a brokerage account through your phone thanks to that!
They have recently gained more users thanks to their low-cost fees and ease of use. The platform welcome bonus gets users 1 Apple share(worth over $100) for depositing $2,000 and making 5 trades. Users not only get to invest but also get rewarded as a result. Who wouldn’t want that?
I invest some of my money in dividend stocks, they pay investors like me passive income per quarter. I get about a dollar every year for owning the stock without including capital gains.
If owning stocks is not your thing, you can invest your money in the total stock market index fund VOO. This index fund has a track record of providing 10% growth per annum. That is as passive as it gets.
Robo-Investing
Like investing through a brokerage account. Robo-investing takes passive investing to a whole other level. By sending in money from your bank account. A robo-investing app will help you invest your money based on how much risk you are willing to take. Best of all, robo-investing aims to beat the index fund by moving around your funds to make more money.
If you are looking to invest your money without looking at your investment. You can download Stashaway or EndowUs.
Surveys
The Internet is always looking to get better. There are a ton of online surveys you can sign up for and get started. They are easy to get started and don’t need capital to get started. All they need is for you to answer some questions they are looking for.
Although most online surveys don’t pay its user well enough. I’ve found that Google Surveys and Swagbucks are the only ones that are paying its user well. With a Google survey, you can use the online money made to buy anything from the app stall.
Pet Boarding Apps
Taking care of pets while making money is one of the most exciting and interesting ways to be making money. Remote working become popular. It’s no wonder pet boarding service provider has been increasing.
Here are the average rates for the services I provide:
- Pet walk~ $20/hr
- Pet sitting~ $50/session
- Pet Daycare~ $40/session
- Pet Boarding~ $55/day
I would have at least 1 or 2 pets at my home every day which makes me around $80~110 per day or $2,400 per month. Not bad for a side hustle if you ask me but not a full-time income.
If you are good enough or have experience in taking care of pets. Experienced pet carers charge way higher prices for their service.
Here are the potential upwards earnings you can make:
- Pet walk~ $50/hr
- Pet sitting~ $110/session
- Pet Daycare~ $80/session
- Pet Boarding~ $200/day
Based on that amount, a full month’s worth of pet boarding service is equal to $6,000 earning a month for 1 pet a day. Experience users on the platform would even start a small business and hire employees to help manage the pet. And the job of the seller is to link up with dog owners. What a great passive income!
If you think you have what it takes, be sure to sign up with Petbacker.
Freelancing Apps
Freelancing services are also on the rise thanks to remote working becoming trendy. Apps such as Fiverr, Upwork, and Freelancer allow sellers to sell their online services to the user. Many of them provide content writing services, software development, or ad-hoc jobs.
I recommend starting out on Fiverr given how easy it is to find your first customer. To get started, I recommend checking out some Youtube videos or online expertise here.
Writing Platforms
Do you like to read and write? Apart from setting up a blogging website which you have to pay upfront for. Writing platforms such as Quora, Substack, and Medium is a great ways to get started writing.
I recommend starting out on Medium. To join the MPP(Medium Partner Program) and get paid. Writers need to have at least 100 followers and 1 article posted. It’s pretty easy as I myself got 100 followers in 5 days on the platform.
Medium writers are paid based on what Medium members read. So if you are looking to learn more about making money through Medium. I recommend joining the membership there!
The more you write, the more you are being paid. The best part of all these is an article that is months or even a year old can still pay you dividends for your writing.
Airbnb
If you have an extra space or bought an investment property that you want to make money of off. Airbnb is the better solution!
By setting up an Airbnb, the property owners can expect to make 2 or even 3 to 4 times what they would be earning from a tenant. Given that Airbnb users stay for 1~3 days, owners can expect a high turnover rate and charge a higher price for that.
Additionally, Airbnb hosts have a lot of flexibility. You can choose which days you wish to make available to possible visitors, and you are not forced to host. To make sure it coincides with your personal schedule. You can even integrate your listing with an existing calendar.
Space Rental
With homes getting smaller and renting out space from warehouses getting expensive. Buyers are now looking for individuals who are willing to rent out their space at home.
If you have space at your home, you can download the app Neighbor and rent out the empty spaces in your room. Buyers are being charged between $40 to $200 a month. That’s how Julz Maleno made $26,000 a month from renting out her unused space.
Why you need this type of Passive Income
Now that you know 10 ways you can make passive income from anywhere in the world. What’s stopping you from making this easy money?
