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G’day and welcome! If you are a fellow Australian who is looking for passive income ideas and strategies you would have no doubt found yourself endlessly clicking through irrelevant links to Pinterest boards and companies that only operate in the USA or elsewhere. Well, I’m here to say your search is over. Try some of these local strategies for yourself and begin your path to financial freedom!
Blogging and Affiliate Marketing
While not entirely passive to begin with, blogging can potentially earn you significant income.
If you love sharing your knowledge and passion for a particular area then a blog is the perfect place to build an audience of like minded people. You can share ideas and resources and if you have a large enough following, make money from advertising or offering your expertise. I host all my different blogs and websites using Bluehost because they are easy to use and cheap! Sign up using my unique link to get a free domain and 24/7 support for just $5.77 AUD a month.
Once you have an established blog, The Australian version of Amazon Associates is a great way to monetise all your hard work. You can sign up for the program above and direct your readers to products you enjoy using while making a percentage of each sale. So for example if you are a technology blogger and review the latest Macbook or iPad and a reader follows your advice and buys one, you will get a percentage of each sale with no additional cost to the purchaser. It’s a win – win scenario!
If you have consistent traffic you can make money for doing absolutely nothing!
If you like taking photos then there is money to be made. Upload your photos to a service such as EyeEm or iStockPhoto set your price and wait for the cash to start coming in. Remember that you will need a DSLR camera that can produce good quality shots like this tried and tested Canon EOS 800D or Nikon D3500.
Airbnb is another passive strategy to generate income. If you have a spare room, or travel frequently then you have square footage that is just waiting to make money for you. You can be as involved in letting your space as you would like – whether you want to meet your guests and show them around or offer a self check-in service, it’s totally up to you! Sign up to host you space here.
There are a huge amount of work from home opportunities for those that are interested in improving search engine results and machine learning. Companies such as Australian owned Appen rely on people who want to work a few hours from home every week to help improve these services. There are lots of different work choices depending on your needs with pay to match. Some simple search reviews pay a couple of dollars per task while others can pay up to $70 AUD an hour. Typical tasks include transcription and query responses for map, audio and social media search engines. You will also feel proud knowing you are making the Internet a more useable place for everyone.
So there you have it my fellow Aussies! Try out a few of these passive income ideas and remember to let me know how you go in the comments section below.