Simply defined, passive income is about making easy money while not feeling dedicated to the actual cause. It is well-liked among college students.
Passive income is money that comes in at regular periods without requiring a significant amount of time and effort.
If you’re among those college students who are brainstorming for income ideas but have not come up with something substantial yet, then read on! You might just find your ‘go-to’ income source in the coming lines.
#1 Publishing an eBook
One of the most unique ideas to monetize your thoughts is eBook writing.
If you have a flair for writing (and reading too, of course), then this might just be your cup of tea.
Writing an ebook is not just about lengthy stories but also about giving people advice. It may be in the form of inspiration, time-hacks, or help regarding a variety of different fields from everyday life to specific stand-alone topics.
We recommend starting from something that you already know. Grow out from there as you gain feedback and experience. Search what sells best and adjust yourself accordingly. There are plenty of webs, ahem, room out there for everyone.
#2 Renting Out a Parking Space
This idea, though a little unique, is worth capitalizing on once you fulfill the criteria. Simply put, if you live in an area where there is a high demand for parking and you have extra space to spare, then you are in for some major cash.
Why is it worth it? That’s because, in many areas, parking spaces are not for sale along with the housing. You have to spend the extra buck for it. Hence the demand!
Do you know that you can make around $250 a month by renting your parking space?
That’s where you can jump in, but make sure to check your local laws before proceeding, as different regions have different rules.
#3 Renting Out a Property
If you have room to spare, why not share? Another great idea to earn passively is to rent out your unused room like a dormitory to other students. Charge them for using your facilities, for example, your pool-side, garden or kitchen.
All the spaces that you find are not being utilized by you can be turned into rentals. All you have to do is place an ad in the local yellow pages or online listings, with a good picture of your space, and voila! Start earning smoothly.
#4 Using Your Car For Advertising Space
You can turn your car into a mobile billboard and earn money while doing so (also known as “Car-wrap advertising” or “Carvertising”).
Several companies now pay drivers to use their automobiles as advertising space rather than having their own fleet. This is a unique method to make money by selling advertising space on your car.
One can easily make up to $200 to $300 a month with carvertising.
Before doing so, make sure you meet the basic requirements, like proper registration documents, a driving license, and car insurance. Some companies might also require your daily commute routes, how many hours you drive per day, areas you frequent, and so on.
#5 Selling a Course On Udemy
If you are proficient in teaching, this gig might just be the best earner for you.
Udemy is an internet platform that makes money by selling your courses online. As long as you are knowledgeable, you can start recording courses in your preferred field and post them on Udemy. Not only will you be getting students, but you will also be able to promote your expertise as a teacher.
Follow the guide on their website to learn how to start publishing lectures right away.
I have created a complete guide on how to start using Clickbank in 2022 — Check it out!
#6 Promoting Products On ClickBank
Another way of earning can be through ClickBank as an affiliate marketer.
Over there, an affiliate marketer (someone that makes money by promoting products professionally for others) may find several profitable deals to promote.
ClickBank has been around since 1998, when affiliate marketing was in its infancy, hence a giant, legit platform with history.
Why use Clickbank? Because it provides high commissions, has a wide reach in over 200 countries, and showcases lots of products to choose from.
You don’t need to shy away from it, even if you’re a newbie.
#7 Selling a Product On Amazon
As a college student, if you want to join the wave of e-commerce, then Amazon is one of the best starting places you can get.
Following are some of the ways to earn through Amazon:
- Selling wholesale products: find the products that are available near you, based on those products, do your market research and start selling!
- Publish books on Kindle Direct Publishing (KDP) through Amazon and earn almost up to $40,000 per month (as per JungleScout.com)
- Write a blog about an Amazon product: act as an affiliate and earn while you write.
#8 Display Advertising
A direct and popular way of earning extra income is through displaying advertisements. They can be displayed on your website, your app, your blog, or your private channel.
The more ads you display, the more you will earn.
Some popular ad services out there are:
- Google AdSense: best Pay-per-Click (PPC) method of earning money out there
- WordAds: if you are a WordPress user, then this is a tool tailored for your use.
#9 Peer-2-Peer Lending
Also known as social lending or crowd-lending, as the name suggests, this is lending from one person to another. People can get loans directly from other people, escaping the financial institution as a middleman.
How do you earn from this: Each time the loan is paid back, a portion of the payment is returned to the loan investors. You can either reinvest the proceeds in additional loans or cash them out.
#10 Starting a YouTube Channel
YouTube is a fantastic way to make money if you’re a college student. On YouTube, you can build a large following and become well-known in a short time. All you need is a YouTube account and the ability to produce high-quality content.
The more authentic and engaging your videos are, the more following you will gain—hence more earnings.
#11 Creating Mobile Apps
In today’s mobile-driven market, one of the best ways to earn money is to make mobile apps.
Of course, you have to make sure that the content you develop is worth the user’s attention, as your earnings will directly be proportional to the number of times your app is downloaded and is in active use.
Earning via apps is possible by In-app advertising, subscription to your app services, affiliate earnings, selling merchandise in your apps, and in-app purchases.
#12 Investing In Bonds
Another option for passive income is to invest in bonds. Bond investments can be profitable in two ways. The first alternative is to hold the bonds until they mature and start earning interest. Bond interest is usually paid twice a year.
The second way to profit from bonds is to sell them for more than you paid for them.
Choose the best way that works for you. Don’t hesitate to seek help if you’re new and do not understand something.
#13 Renting Out Your Car
If you own a car and it mostly stands unused in your garage, then you might consider renting it out to make some extra cash.
People are often in need of rides, and you can provide services such as in-city or inter-city car rentals based on your own car availability.
You can also provide chauffeur services with your car rental if you want to make sure that no unnecessary damage comes to your car.
#14 Renting Out Household Items
Not everyone has everything — So put those unused items in your attic into good use by lending them out.
Be it the ever-handy tool-set or your multimedia projector; you can always advertise for it. Use your blog or social media page by publishing a list of items available to lend and earn some extra cash.
You can even use listing websites such as FatLlama, TapGoods, etc.
#15 Playing Video Games
You can make good passive income by just playing games online. Don’t believe me?
Most college students spend hours on mobile games — Little did they know that they can generate some extra money in those fun hours.
MISTPLAY is a great example of how you can earn valuable rewards (Amazon Gift Cards, Uber Cash, etc.) by just playing games.
#16 Sell Digital Downloads
It’s easy to see why selling digital stuff is more appealing than selling physical products.
Everything is managed online, so one doesn’t have to bother about warehousing products, shipping orders, or processing returns.
Once you know the right niche, you can start selling music, art, online courses, ebooks. Even tools, themes, or templates can be sold digitally.
Sell that which fits you best.
#17 Creating A Blog
Another great way of earning is through blogs. If you write creative and unique blogs, you will be earning very steadily through your readership.
- Use affiliate marketing on your blog to promote a business
- Add banner ads with material that resonates with your readers
- Occasionally write sponsored content
- Sell products on your blog that define your ideas or content.
Just make sure you don’t pick up a bad blogging niche for yourself and end up drowning in a lot of competition!
#18 Sell Stock Images
If you’re interested in photography, then you might want to consider selling stock images as a way to earn passively.
You can earn up to half a dollar by selling stock photos online.
Microstock is the most frequent way to make money from stock photography. Images can be purchased for as little as a few cents up to roughly $10 and up. The sales are made without any royalties. Photographers get compensated for each image downloaded monthly. Some popular stock photography platforms are Shutterstock, Getty Images, and Fotolia.
A podcast is an episode-based collection of digital audio recordings that may be downloaded and listened to on a personal device.
You can start earning from your podcasts:
- By looking for sponsors, usually related to your content
- By Affiliate marketing
- Recorded or displayed ads on your podcast page or stream
#20 Rent Out Your Rooms
Suppose you have a spare room, a second house, or an apartment to rent out while you’re away. Several online platforms make it simple to market your property and connect with people all over the world.
Popular among them include Airbnb, Vrbo, and Booking.com.
You can make around $900/month on Airbnb by renting out your rooms.
#21 Selling AdSpace On Your Website
Notice some extra space on your website? Have some corners that you think could be better utilized? If you want to earn money while correcting all this, then you might want to consider selling ad space on your website.
What Does “Selling Advertising Space” Mean?
It means designating blank or available areas of your website for ad hosting as the first step. You can sell adverts through bidding mechanisms or sell directly to advertisers. They come in a variety of formats, including banner adverts, sponsored content, and videos.
Choose which sounds best.
Dropshipping is when you sell items on your website but don’t actually hold the stock.
Instead, you contact the wholesaler or merchant and send the order along to them when an order is placed on your website.
You can take note of certain tips to pursue this successfully, like:
- Deciding on a suitable niche
- Establishing a brand
- Actively participate in e-commerce events to make your presence known
- Provide outstanding customer service as there is nothing better than word-of-mouth advertising.
#23 Vending Machine Business
Vending machines are best when you want an instant snack but do not want to make the long trip to the cafeteria. You can hence invest in vending machines on your campus as a way to earn money.
Make sure to research before actually buying one so that you know what the average student requires.
Place your vending machines at high-traffic locations. If there are dorms around your vending machine, you might want to stock them differently as compared to ones that are near lecture halls.
#24 Renting Out Garage Space
If you have a garage that is gathering dust with all the junk, then it’s time to convert that space into some green bucks.
Renting out your garages is an excellent way of earning easy money. There are lots of things you can do by getting it in shape and listing it out on your local classifieds as a:
- Parking space: one of the prime uses for your garage can be as a parking space. Lots of people are looking for spaces, especially in urban areas where parking is scarce and expensive.
- Media Studio: With so much vlogging and podcasting being done these days, people are on the lookout for places where they can peacefully record quality content yet be not expensive at the same time.
- Storage facility: people in e-commerce or small-time retail online business require storage space. The garage can come in handy as a perfect place for them to store their products before shipping.
#25 Become A Social Media Influencer
Since social media is all the rage these days, why not use it to make some money right? And what is better than making money without making much effort. Sounds like a real deal. What if I told you that you can do all that and more by becoming a social media influencer?
Here’s what you do: Pick a niche, then choose a platform you want to share content on and then start creating. Earning passive income through social media marketing is not a sprint, you have to work for it. Once you have gained considerable traction, you can earn money by running ads, affiliate marketing, etc.
It is advantageous to earn passively while in college. You may learn how to handle your money in a variety of ways while gaining active industry experience. Simultaneously, you can put money aside for a rainy day.
Therefore, if you are aiming towards financial security in the near future, there are a variety of options that you can choose from.
I wish you the very best of luck!