Ways to Make Passive Income Every Month
As a solopreneur, finding ways to generate passive income is crucial to financial stability and growth. One solopreneur shared their top five strategies for making over $2,500 in passive income every month.
1. Cash-back rewards: By using a cash-back credit card and cash-back websites like Rakuten and TopCashBack, this solopreneur earns around $30 to $50 a month in cash back from everyday purchases.
2. Investing in small businesses: By investing a small percentage of income in businesses that share future revenues, this solopreneur is able to support other entrepreneurs and earn passive income as their businesses grow.
3. Peer-to-peer lending: Diversifying their investment portfolio, this solopreneur lends capital to real estate borrowers through platforms like PeerStreet, earning monthly interest payments in return.
4. Print-on-demand merchandise: By selling print-on-demand merchandise on their website, this solopreneur generates passive income without the hassle of production and shipping.
5. Selling ads: Leveraging their platform and audience, this solopreneur sells ad space on their newsletter and podcast, earning close to $1,000 a month in passive income.
These strategies showcase the diverse ways solopreneurs can create multiple streams of passive income to support their financial goals and secure their financial future.
