5 Ways to Earn Passive Income in 2018

8 min read

5 Ways to Earn Passive Income in 2018,I t’s hard work trying to get by today. Rent is at an all-time high; mortgages are impossible to get hold off; and inflation is running ahead of wages.

A pretty bleak outlook when phrased bluntly. However, adversity has always been met by ingenuity and now there is a new way to make money alongside your day job: passive income.

This means making money through indirect means that involve minimal effort. It sounds a little inaccessible at first but here are 5 easy ways to make some passive income this year:

Rent your Stuff Out

Living in an over stimulated consumer economy we have all amassed far too much stuff.  As a result our homes are littered with expensive items that are barely used and just take up space. However our relationship with ‘stuff’ is changing.

That projector, or camera that sitting in the cupboard can now become a regular source of income, if you start renting it out on Fat Lama. Started back in 2016 this peer-to-peer rental platform allows you to rent your belongings out for a daily fee.

The website encompasses an array of different objects, from DSLRs to more household objects such as a power drill and operates out of your local area. This isn’t just a way to make a few extra quid either. Some users have been able to earn £3,700 per month, a sum far larger than most average incomes.

Rent Your Room Out

It’s strange that whilst most of us have used it whilst on holiday not many people actually consider listing a room themselves on Airbnb. If you haven’t then you’re missing a trick, as it has the potential to add an extra £4000 onto your yearly income. Not only is it a fantastic money making scheme but also can be a great way to meet new people and forge connections in other parts of the world It doesn’t have to be a full time commitment either, you can list just a few weeks of the year, or have your doors open the whole time.

Rent Your Office Out

This can be interpreted in both a private and professional sense. If you have a study in your home or you have extra space in your office block, then why not list in on Vrumi? Started as just simple scheme to rent spare rooms out to freelancers.

Vrumi is now a full on peer-to-peer platform for any professional space, whether that means a conference room, or simply your front room at home. The best bit about it is all the details are decided by you. There is no agency calling the shots, whilst twisting money out of you; you are both the provider and the benefactor.

Rent Your Car Out

It’s a constant source of discontent; how much simply owning a car costs. Road tax, parking, insurance and upkeep all amount to a hefty bill every month for a vehicle that, if you live in a city, sits in your drive 90% of the time.

The problem is that it’s pretty vital for that other 10%. The solution, you might have guessed by now, is to rent it out on Hiyacar. This scheme can fetch a handsome £1000 per month and requires very little from you in return.

With their QuickStart box installed in your car, you don’t even have to hand over the keys; just set your price and watch the money roll in.

Sell Your Old Stuff

A break from the status quo here but before you next decide to bin any furniture or any item for that matter, it’s worth sticking an ad up on Gumtree. More efficient than waiting for the bin-man and better for the environment, selling on your old stuff is a great money making technique.

Putting an ad up is pretty straightforward and even if it’s total junk you can still usually make a couple of quid. At the very least it’s less hassle to sell your chest of drawers than wait for the council to [never] come collect it from your front garden.

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