3 Low Effort, Low Cost Ways to Earn Passive Income

A good side hustle can be hard to find. The best would be to generate continuous passive income with the least amount of effort.

A great passive income stream can double your total income for the year. If not, then two or three working together can add up.

Whether you employed or not, here are three passive income ideas to consider.

Rent your driveway

The average American driver spent 17 hours annually looking for a parking space and spending $345 annually for parking. Americans collectively spend almost $73 billion annually on parking.

And even then, Americans still waste $20 billion by overpaying for parking.

If you have a personal parking space or a driveway you don’t use and are situated in an area where public parking is at a premium, you can rent out your parking space,

On websites such as Neighbor.com or Spacer.com, you can rent out your personal parking space for $50 to $200 monthly depending on local parking demand.

Car wrap advertising

Car wrap advertising is the advertising practice of wrapping your car in vinyl advertising to promote local advertising campaigns.

A local business, politician, or entertainment venue may hire a third-party vetting company to hire drivers to drive around in a vinyl advertisement-wrapped car.

Your job is to strategically pick driving routes where large public crowds are bound to see your advertisement-wrapped vehicle. You may be paid a pre-set set price per mile driven or by the amount of publicity generated afterward.

You could make potentially make $200 monthly. If you drive your car wrapped vehicle while making deliveries or ride-share pickups and drop-offs part-time, then you can augment your income with this passive income idea.

Social media channel or blog

You don’t have to become a social influencer to monetize your expertise on YouTube, Facebook, and other social media websites.

For example, there are people who produce simple videos of themselves playing the latest video games on Twitch. Thousands of people on YouTube review comic books and comic book-related entertainment.

Whatever your skill or expertise, travel expert, language instruction, music instruction, and so on, you can monetize simple videos produced yourself with viewer donations, ads, or sponsors.

How much money you make depends on how many viewers you can convince to regularly watch your new videos, donate, or visit the websites of your sponsors.