3 Passive Income Ideas for 2023

In unpredictable economic times and A recession is likely in 2023Many Americans are looking for any edge they can get.

Combine that with extra spending during the holiday season and it can quickly become imperative to find another source of income. While working long hours, taking advantage of overtime opportunities, and getting a second job are reliable options, many people don’t have the time or ability to work much more than they already have.

enter Passive income strategy. While not usually something that will make anyone rich, passive income will do just that: passively generate income for you with minimal effort on your part.

“Passive activities include trade or business activities in which you do not materially participate. You materially participate in an activity if you engage in conducting the activity on a regular, continuous and substantial basis,” The IRS explains on its website.

3 Passive Income Ideas for 2023

Would you benefit from getting some extra cash? Not enough time to get another gig? Here are three passive income ideas to explore now.

Payment survey

This option is exactly what it sounds like: get paid to take surveys online

“You won’t get rich doing surveys and it’s not meant to take up a full-time job, but it can supplement your income and give you a little extra flexibility in your budget,” market research site Survey Junkie says. explains. “Complete three surveys a day and earn as much as $40 a month. Share more, earn more and make it worth your time.”

“Most Swagbucks members should be able to earn $1 to $5 a day (or $365 to $1,825 a year). There are some offers that pay $50 to $250, but on a typical day, earnings can average $1 to $5,” Swagbucks, a paid survey agency, States on its website.

Would you be able to get a new car or buy a fancy item with the money you take a paid survey? That is unlikely. But only if there is a goal Make some extra cash To pay off debt or make some minimal purchases, then taking the surveys offered can be a good way to go.

It’s easy to get started. Set up an account online and start earning money now.

Become a virtual assistant

The COVID-19 pandemic has changed the way millions of Americans work, with a huge shift to working online.

It implies, then, that remote help is needed.

Become a virtual assistant with the Like website Indeed (just search for “remote virtual assistant”), you can work for a business as needed from the comfort of your home office. Job requirements vary – from social media management to traditional accounting to writing – so search for something that fits your skills and background. You might be surprised at what you can find and how much money you can get for working remotely.

Buy and sell domain names

Consider buying and selling domain names (for the right price, of course). Sites like GoDaddy.com can help complete the sale through an online auction

You can also buy names that you think might be interesting in the future. Think about upcoming entertainment, sports and political events to start with. You can then put your contact information on those URLs and offer to sell them to anyone who wants to buy

This option requires little time or investment, but it can pay off if you buy a desirable domain name.

Bottom line

A simple Google search will turn up dozens of passive income ideas and strategies for those interested in making extra cash. If you want to get started right away, paid surveys may be an option worth pursuing, especially if you want to start making money quickly. Start taking paid surveys now!