Master List of Passive Income and Residual Income Ideas

When it comes to generating multiple streams of income, passive and residual income ideas are the cornerstone of a long-term financial plan. Making money while you sleep lets you pursue other ideas and goals, and if you can set up a bunch of different effortless moneymakers, you don’t have to work ever again.

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Moneymaking for Introverts:11 Great Gigs that Don’t Require Personal Interactions

When you’re introverted, finding a gig that suits your personality can be difficult. But there are actually quite a few great gigs for introverts that don’t require interacting with the public. Here are some of the best introvert side jobs we’ve found:

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Master List of Mobile Apps You Can Use to Earn Money and Merchandise on the Go

Master List of Moneymaking AppsYou spend a lot of time on your cell phone, and you probably take it everywhere with you. But have you ever considered using it to make money?

Nowadays, you can actually fund your everyday activities or earn points toward merchandise you really want by downloading mobile apps and doing certain activities online using your phone. Here are some of the best ways you can earn money or free stuff using your smartphone and the apps you need to get started.

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Create Craft Tutorial Videos to Make Extra Cash

Handpainted Shoes by
Handpainted Shoes by Kilgast
If you make crafts and sell them online on sites like Etsy or at local markets and fairs, you might make even more money teaching others how to make their own crafts. Whether you create custom decorated shoes or make jewelry, someone out there probably wants to learn how to do it too.

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Ten Ways to Make Money with Music

start a band
Make money with your music
Jobs in the music business can be exciting, fun, and rewarding, but they’re also tough to get. When your soul cries out for song, though, a music gig might be just the thing you need to create a satisfying career or side moneymaking business. Here are 10 of the best jobs for musicians and those who love music.
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Starting a Band to Make Extra Cash

Starting a band can earn you extra cash. Image by Ghost of Kuji
Starting a band can earn you extra cash. Image by Ghost of Kuji
Starting a band is one of those lifelong dream kinda things, but that doesn’t mean it’s out of your reach. In truth, the likelihood that you’ll hit it big and become the kind of international superstar who performs to sell-out crowds around the globe is really, really low. But if you’re simply looking for a way to get a little extra cash and have some fun, starting a band that plays at weddings, local events and small venues in your region is a real moneymaking possibility. Keep in mind that small bands playing a specific subset of music may end up in more demand than a generic band that tries to play everything- so try to keep a balance between being a generalist and specialist. Think outside the box to find your ideal band- it may be a small chamber music orchestra or a zydeco band or a mariachi band or a tribute band that focuses on music by a small subset of groups from the late 80s. There’s room for all kinds of bands out there, and your community may be particularly lacking in a specific type, leaving a niche you can profitably fill.
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Selling Your Old Stuff on Craigslist

Whether you’re looking to make some quick cash or trying to simplify your life (while trying to make quick cash)- Craigslist is a simple and lucrative way to turn the stuff you own into a bit of extra money. This isn’t a long-term gig (unless you want to turn it into a gig selling OTHER people’s stuff for money- but that’s a similar-yet-different kind of plan)…it IS a way to garner fast cash when you really, really need it, though.

The Practical Part of Selling on Craigslist

The process is pretty straightforward- you pull up your local Craigslist page, click on the category of item you’re selling and follow the directions to list it. It’s a good idea to create an account so you get alerts about your sales and can repost them easily if something doesn’t sell on the first try.

The Advantages and Disadvantages of Craigslist

The big advantage is- duh- selling your stuff quickly and getting cash in hand when you need it most (along with getting rid of some clutter.) The disadvantages are that it can be inconvenient to make appointments for people to come pick up stuff and give you the cash, and some things may never sell at all.

Pricing Your Craigslist Items

Pricing might seem like a huge mystery when it comes to Craigslist, but it doesn’t have to be. Search for similar used items in your area or on sites like eBay and price yours about the same. Expect that people will bargain, and plan to get about 10-25% less than the price you ask for.

Finding Items to Sell

The biggest sellers on Craigslist tend to be things like electronics, baby accessories (such as baby swings, monitors, etc.) and camera gear. Things like clothing and books are unlikely to sell because people have plenty of options to get those on the cheap already. Specialty items, such as antiques and collectibles, might do better on a national or international site, such as eBay, because there may not be a huge pool of interested buyers in your town.

Tips for Selling Your Stuff on Craigslist

You’ll get more interest and have better chance of selling at or near your asking price if you make an ad that looks professional. Take a nice photo to post of your item and make sure grammar and spelling in your ad are perfect before you put the ad online. Communicate with potential buyers by email and phone before agreeing to meet them to exchange goods and money- and arrange to meet at a public location (like a coffee shop) if you don’t feel comfortable inviting them to your home.

Tutoring for Cash

Photo by Prime Education
Photo by Prime Education

Take advantage of your expert status or your extensive knowledge about a subject, to make money teaching others one-on-one. Getting work as a private tutor is fairly easy, and there’s plenty of work to be had. Here’s the scoop on tutoring for cash.

What Tutoring Involves

Tutors teach a subject one-on-one to someone who wants to learn it. Tutors can make anywhere from $20 to $100 or more per hour, depending on the subject and local demand. High school or college math tutors are almost always in demand, while tutors for elementary school subjects are less needed because more people have the skills to teach those subjects. Tutoring is an especially lucrative side gig for teachers and for anyone with a college degree in an in-demand subject (such as math, computer science, chemistry, or a foreign language.)

Advantages of Getting Paid to Tutor Kids and Adults

One of the biggest advantages of tutoring as a side job is the flexibility. Tutors set their own hours, and you can schedule tutoring sessions whenever you want. You can also opt to tutor in your home or go to the client’s home- or even schedule a session at the school library or in a local coffeeshop. You can even find tutoring gigs on the web, through online tutoring agencies, or you can opt to tutor through a specialized tutoring center that finds clients for you.

Disadvantages of Tutoring as a Gig

The biggest disadvantage to tutoring as a gig is the lack of reliability (a common trait of side gigs in general.) Students might cancel a scheduled session without giving you advance warning, or they might suddenly quit altogether after months of reliable sessions. Holidays and summers are typically slow because students aren’t in school and spend time with their families instead of studying.  Another disadvantage is that you might have to spend time traveling to each student’s house, which cuts into your hourly rate.

Finding Tutoring Gigs

If you want to succeed at finding tutoring gigs on your own, you’ll need a professional-looking website. Use online sites like Craigslist to find potential clients, providing a link to your website in your ad so interested students can see you’re a professional. You can also bring an informational brochure about your services to local schools to let them spread the word among students who might need some extra help in the subject you tutor.

Tips for Making Money Tutoring

The best tutors- the ones who get recommended to friends of their students- are people who are really good at explaining their subject to people who just don’t get it. Try finding multiple ways to explain the same concept, and learn about the different kinds of learners and how to reach them. Someone who is an auditory learner might need to hear you repeat the concept multiple times, while a visual learner will do better if you write or sketch out the idea on paper for them.