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If you’ve ever wanted to earn some extra money without actually having to work, there are options. Whatever you choose, just know that you’ll typically need to do some initial work up front to get started. However, once you do, these side gigs could earn you hundreds or even thousands of dollars a month.
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Not only can these passive money earners be a great way to supplement your income, but some of them could even make you enough to achieve other financial goals like paying off debt or saving up for a down payment on a house. Here are seven ways to make at least $500 every weekend — without actually “working” for it.
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Blogging and Affiliate Marketing
If you have a subject you’re passionate about or have a lot of in-depth knowledge in, you could create a blog centered around that topic. The potential to earn money from blogging and affiliate marketing varies widely based on factors like your blog’s age and your audience size.
According to Millennial Money, many bloggers earn between $500 and $2,000 a month in their first year of blogging — a number that only increases with time and consistent growth. Many successful bloggers end up working between 10 and 30 hours a week. If you’re just starting out and you commit to blogging for around five hours a day on the weekend, you could begin earning money passively, too.
“One of my favorite ways to earn money passively is from my blog, GoodFinancialCents.com, where the journey of weaving financial wisdom has also become a source of income,” said Jeff Rose, CFP and founder of GoodFinancialCents.com. “Diving into the world of affiliate marketing, I recommend products or services and earn a commission on sales made through my referral links, ensuring they align with my audience’s interests and needs.”
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Product Creation
If you have a knack for sales and a potentially lucrative idea, you could create a product and sell it on platforms like Etsy, Facebook or your own website. If you have an existing audience, marketing your products is even easier.
What’s great about this idea is that you’re really only limited by your imagination and what you’re willing to commit your time to. “Think about stuff you love or are good at,” said Rose. “Can you turn it into a product, like an eBook, art, or a cool new app?”
Even by spending a few hours every weekend on your idea, you can start bringing it to life. And once you’ve got a solid product in order, you can then sell it to make money.
Stock Market Investing
Finding things to invest in can not only help you prepare for long-term financial goals like retirement, but it can also earn you some extra cash each month in dividends. You can invest as actively or passively as you want, making this a solid option for earning money without working. Just remember, you will need to do your due diligence on whatever you’re investing in to ensure it fits with your budget and other financial goals.
“If investing is more your jam, consider starting small with something like a robo-advisor, which does the heavy lifting for you in the stock market,” said Rose. “Or explore real estate investment platforms that let you chip in on big property investments with other folks.”
Vending Machines
Chances are, you’ve seen vending machines located around your city. But did you know that you could purchase one and set it up yourself as a way to earn money?
“Getting into vending machines is a great way to earn passive income over the weekend because they only require restocking every 1 to 2 weeks,” said Nathan Brunner, CEO at Salarship.
“Starting a vending machine business requires an initial effort to finance the machines and find suitable locations,” added Brunner. “However, once the machines are in place, they become a real source of passive income that will allow you to maintain your full-time job or pursue other interests.”
Real Estate Investing (Via Syndication)
If you’ve ever thought about investing in real estate, but don’t want the responsibility of owning your own commercial properties, you could become a passive investor by putting some money in a real estate syndication. This is essentially when you and other individual investors put your money together to purchase a piece of property together.
“In a syndication, a passive investor contributes capital towards the purchase, renovation, and/or development of a large property — such as an apartment complex or self-storage facility — that is managed by a real estate professional,” said Michael Margarella of Next Play Investments.
“The passive investor is not involved in the day-to-day operations of the property and does not share any of the responsibilities of real estate management, but still receives equity in the property and a share of the profits generated by the property,” added Margarella. “This results in passive income and tax benefits.”
Online Course Creation
“If you’ve got some skills or knowledge that people might pay to learn, online courses could be your ticket,” said Rose.
Online course creators can earn hundreds or thousands of dollars a month off of just one course. Of course, you’ll need to create the course in the first place, as well as market it to the right audience. But once it’s out there, you can sit back and let the money come in — just be sure to update it every now and then.
YouTube Channel
“Passive income ideas like investing in dividend stocks or using a high-yield savings accounts are examples of ways anyone can begin generating passive income immediately,” said Tom Blake, founder of This Online World. “But if you want to diversify your income further, my advice is to start a business that has the potential to generate long-term passive income.”
When it comes to earning passive income from a business, you have several options.
“For example, creating a YouTube channel or starting a blog are two business models that are possible to start during your time off or with a bit of weekend work,” said Blake. “With consistent content creation and time, both businesses can begin generating income from sources like advertisements and selling your own products. And once these businesses have an established audience, they can make money around the clock and don’t require constant time and attention.”
Other small business ideas include setting up an Etsy shop and selling your products there or selling stock photos.
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This article originally appeared on GOBankingRates.com: 7 Ways To Make an Extra $500 (or More) Every Week — Without Actually Working