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TEMPO.CO, Jakarta - Being a student can be expensive nowadays. Between tuition fees, textbooks and the mandatory iced latte, it can often feel like your short on cash. But not to worry we’ve got you covered. These passive income streams will have you earning money in your sleep!
Unlike a regular 9-5, passive income allows you to make money while you sleep. You don’t need a ton of time or experience to make money with the methods we have here.
So, if you’re a student looking to make a little extra cash and has some creativity and time, here are some money-making methods, as recommended by Forbes, Indeed and Amber Student.
- House or Pet Sitting
If you love animals or enjoy the peace and quiet of an empty house, pet sitting or house sitting can be an effortless way to make some money. This method is straight forward and doesn’t require any significant skills.
With pet sitting, your primary responsibility is to care for a pet and make sure its fed and played with. Pretty simple right.
With house sitting it gets even easier; you get to chill in someone’s empty house and ensure its safe. You could spend time there studying for your upcoming exams or just enjoying some alone time.
- Create an Online Course
This next one requires you to have a skill people want to learn. Are you good at math? What about using a difficult software? Or even playing a videogame? You can turn that knowledge into some cash by creating an online course.
Record a couple of lessons and upload them to websites dedicated to learning. Whenever someone buys your course, you get paid for that! See mum, playing Fortnite everyday can make me money!
- Sell Digital Products
Perhaps you’re into graphic design or creating planners, leverage your hobby by selling digital products. You can sell spreadsheet templates for various purposes, such as budgeting or even habit tracking.
Create engaging designs through Canva or utilize artificial intelligence (AI)-powered tools, such as DALL-E, to generate stunning digital artwork in no time. After that, sell those AI-generated products on platforms like Etsy or other online marketplaces.
- Sell Stock Photos and Videos
Shutterbugs can turn your hobby into a new income stream by selling stock photos and videos. With a decent camera or even a smartphone equipped with a high-resolution camera, you’re ready to take tons of creative shots, upload them to iStock and Shutterstock, and watch the money roll in.
- Create an App
This next passive income idea is suitable for students studying IT and related topics. Utilize your knowledge in programming and coding to build an app. It doesn’t have to be the next TikTok or Instagram; even a budgeting tool, study planner, habit tracker, or simple game can attract users.
- Become a Translator
Mastering another language may help you communicate with locals when traveling abroad. But your linguistic ability can also unlock an opportunity to generate passive income!
You can translate e-books, documents, or subtitles for videos, or find websites and companies that specialize in hiring translators.
- Become a Virtual Assistant
Certain businesses may outsource some of their basic administrative tasks to remote workers. This role generally involves responding to emails, managing social media content, or data entry.
- Fill Out Online Surveys
If you want something less labour-intensive that won’t disrupt your studies, this passive income idea is for you. You can sign up on platforms like YouGov, Survey Junkie, or Dscout, and start filling out the provided surveys to earn up to US$10.
Some surveys even offer referral programs, meaning you can receive extra cash when your friends sign up, too.
- Buy Dividend Stocks
Buying dividend stocks is another attractive way to establish passive income, it has the potential to bring in large amounts of cash. As per Forbes, websites like CubeSmart offer a 5 percent dividend, meaning if you invest US$1,000, you will receive a return of US$1,050 a year from now. In that case, the earlier you start, the more you can earn over time.
- Write a Book
You don’t have to be a bestselling author to make money from writing. If you have a passion for storytelling or expertise in a subject, consider self-publishing a book or an e-book, fiction or non-fiction. Platforms like Amazon Kindle Direct Publishing let you sell e-books to a wider market with minimal effort.
All these ideas are great for anyone a little short on cash, not just students. Because let’s face it, who doesn’t like a little extra coin. See our other article on some side hustle ideas that you can start today and make money from the comfort of your own home.
Awab Elbashir contributed to the writing of this article.
Editor's Choice: 6 Passive Income Ideas with ChatGPT Prompts
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