The concept of passive income must now be considered

And ramping up with tax season Tax returns are already being accepted, millions of Americans are keeping a close eye on their incomes. While many people may be content with what they make in 2022 (and what they can make this year), millions of others are looking for new ways to earn cash. This could come in the form of a new job, an additional part-time job, or a Side rush To help finish

Fortunately, there are also multiple ways to generate passive income.

Passive income activities, defined by The IRS“Includes trade or business activities in which you do not materially participate. You materially participate in an activity if you engage in the conduct of the activity on a regular, continuous and substantial basis.”

With the shift to remote and hybrid work amid the pandemic, there are many ways to generate passive income, some of which don’t require you to leave the comfort of your home.

The concept of passive income must now be considered

If you could use the extra money to create a passive income stream, consider the following options.

Take paid surveys

While not as “passive” as the other options on this list, taking paid surveys can be a painless and easy way to earn extra cash. And you can take as little or as much as you want according to your time and your schedule.

“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.

“We reward our members with free gift cards and cash for the daily tasks they already do online,” explains Swagbucks, another paid survey company. their website.

As of the end of January 2023, Swagbucks says its members have earned more than $834,000 in rewards. So how much can you do?

“Every month, you can reasonably earn an extra $50 to $250,” they say “When it comes to (sic) paid surveys, you get what you put out of it. It helps to set small daily goals. If you want to make (e)xtra $100 a month, you need to earn $3.33 per day. This Very possible on a paid survey site.”

You can get a $10 bonus by signing up with Swagbucks now

Real estate rental

If you have the money to buy real estate and can afford to rent it out for a profit every month, it can be a good way to make a substantial amount of money without having to deal with the daily grind of another job.

If you can’t afford to buy real estate, but still want to go this route, consider some creative options. You could potentially rent out a bedroom in your basement, the apartment next to you in your two-family home, or on Airbnb. You can provide storage options for those who may be interested. For example, you can rent out your garage on a monthly basis as storage for people who need extra space for their cars or to keep their belongings safe.

purchase and Traditional real estate rentals This is a great option to pursue but if you can’t afford it, consider other ways to make money with the property you already have.

Download an app to your phone

You probably have dozens of apps installed on your phone. So why not add one more to the mix and pay in between? By downloading an app like Nielsen’s paid app, you can win prizes and “up to $60 in points toward gift cards.”

“By participating in Nielsen research, you can improve the products and services you use online today,” the company explains Its website. “The Nielsen computer and mobile panel combines your device usage with people like you to create a picture of consumer behavior.”

Yes, the app will track your activity but the amount of work you need to complete will be negligible. Just set it and forget it and earn passively every month.

Bottom line

There are several ways to create passive income This year and in the years to come. You can start increasing your income by just downloading an app or renting out a property you already own. Start by paying to take surveys online.