How Do Passive Income Apps Work?
When I was young, my family grew a garden every summer and sold the produce in our front yard. Although we were firmly entrenched in suburbia, I planted, weeded and harvested tomatoes like a little farm girl entrepreneur, and sold them at the staggering rate of five for fifty cents to the neighbors. Bug bites, sunburn, and sore muscles were all part of the gig. I don’t know about you, but there are easier ways to make a buck.
Could there ever be a better form of income than making a paycheck that rolls in while you are sitting on the couch? Too bad I was born too late. Unlike me and my sunburned legs in the tomato patch, passive income apps allow you to make money with very little leg work, or by doing things you would already do, like shopping and gaming.
The Top 5 Best Passive Income Apps Reviewed
There are many apps that pay you to shop in stores you would shop in anyway, but currently Rakuten is one of the hottest. Formerly known as ebates, this shopping app boasts over 2500 stores, with such favorites as Nike, Walmart, Nordstrom, Kohls, Dicks, and Office Max. New shoes, office supplies, clothes AND cash back? Sounds a lot easier than weeding a garden. And since you would be buying printer cartridges and new ties anyway, there is basically zero extra effort involved. Also, these are all quality stores, places you would head to anyway.
Rakuten also takes the phrase “one stop shopping” very seriously. Instead of going to the individual stores, you go to Rakuten’s website and shop online through them. There are daily deals for particular stores, like 10 bucks off spending 40 at Kohls, and most of the cash back is at least 2% off of your purchase. They even give you a 10 dollar signing bonus to get started!
This is a great way to make the most of the home you already own. Many of today’s travelers are looking for a more personalized experience than hotels can provide, and your home or condo might be just what weary travelers are looking for! airbnb is the most well-known peer-to-peer rental, so if guests are booking a personal home, they will book through this company.
My cousin owns a duplex in Malibu and rents it out to airbnb guests. Not only has he made money, but also new friends along the way. And you don’t have to live on the beach to capitalize. Signing up on the airbnb app is easy: take some quality photos to upload and you can list your home, RV, boat, igloo, or even tree house on the airbnb, and wait for the offers to roll in. If you want to make this job even more passive, hire a cleaning service in between guests.
Swagbucks is an easy way to earn money by taking surveys and using their search engine. Swagbucks is one of the most popular survey engines around today, and looking for information from very specific groups of people. Signing up is simple, and you will fill out a brief survey about who you are. Soon after, whether it is an hour or a day, a survey will be sent. Using their search engine, powered by Yahoo, will also net you Swagbucks. Playing online games like Wheel of Fortune can also earn you money.
Another way you can earn Swagbucks is shopping online. And I’m not talking about some dinky store you’ve never heard of, but big name retailers like Target. One definite perk is that if you invite a friend to join, you will receive 10% of what they earn. The fastest way to get your money is in the form of gift cards; waiting for money to appear in your Paypal account will be much slower. You can also use your Swagbucks in their own store, and you can buy a wide variety of goods!
4. Inbox Dollars
Do you want to live in a world where you get paid to watch movies? Then Inbox Dollars is for you. Watching short videos on your phone about sports, entertainment, or news will net you cold hard cash. This is so much easier than weeding a garden full of pricker bushes! Besides watching short videos, Inbox app users like you are also paid to take surveys, play games online, and you can even make money to simply read emails. The amount of money you make taking surveys can really add up.
If you qualify for the demographics, you can earn up to 20 bucks for some surveys! Unlike many other apps that pay in rewards or gift cards, one definite advantage to Inbox Dollars is that you receive a check in the mail or a Paypal deposit. Getting an actual check in the mail is a definite perk! Each short video pays between .05 and .25 cents to watch, but it all adds up. You can also get paid for taking surveys or doing web searches. There is a five dollar bonus just for signing up.
If you like the idea of surfing the couch while other people make money on your behalf, then Fundrise is for you. Fundrise is an app that takes your money and invests in real estate. Created in 2010 in Washington DC, Fundrise is earmarked as the first successful crowd fund real estate venture, and they are still going strong. While you couldn’t normally invest in a million dollar mansion by yourself, especially while sitting on your couch, by joining a portfolio created by trained investors, you can invest in real estate without getting your own hands dirty.
The minimum investment is 500 dollars, and one definite perk is that you don’t have to be an accredited investor to participate. You will choose the amount of money to invest, and choose whether you want to focus on income, growth, or a balance of both of them. The investments are very diversified and flexible, and the precise computer software really reduces the normal investment fees.