7 Low Cost Passive Income Ideas You Can Start With $500 or Less

1. Rent Out Stuff

There are many ways to generate passive income from stuff you already own. What’s great about these strategies is that they are 100% free, and you can keep it as low-key as you want.

2. Peer to Peer Lending

The next strategy is peer-to-peer lending. You only need $25 to open up an account, so it’s a really accessible option. If you don’t know what peer-to-peer lending is, it’s where you lend money to various borrowers through an online platform.

3. Blogging

If you have a knack for writing, you can start a blog. You can write about any topics that you have some expertise in or that interest you. The topic you write about is often referred to as a “niche.”

4. Real Estate Crowdfunding

Owning rental properties is one of my favorite ways to make passive income. But buying properties can be expensive. Luckily there are ways to invest in real estate without buying actual properties and managing them.

5. eBooks

If you like writing, but blogging is not for you, you can write an eBook and get royalties from selling it online. Amazon KDP is a great place to do so.

6. Cash Back Credit Cards

Ok, you won’t become a millionaire using this strategy, but it 100% works. Depending on how much you use the credit card, you can generate hundreds or even thousands of dollars per year.

7. YouTube

If you prefer making videos instead of writing, you can start a YouTube channel. As with blogging, you will start to earn passive income through ad revenue once you get enough watch hours and subscribers.

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Bernard Okoth

Bernard Okoth

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