Passive Income Ideas for Stay-At-Home Moms

 

Being a mother is a full-time job, but it’s not one that can necessarily pay the bills. If you want to make money to cover your basic needs and to grow your savings, here’s some good news for you: there are plenty of ways you can generate money without even leaving your home. If you need some extra income on the side, here are some excellent passive income ideas to try out as a stay-at-home mom.

Invest in real estate

Got some cash to spare? Invest it in a condo unit or home that you can rent out. This will provide you with a steady income stream, and you won’t even need to lift a finger for it. The best kind of condo or house to invest in is one that’s in its pre-selling stage since you’ll not only get to pick the best unit, you’ll also get it at a premium price that’s much lower than what it goes for when it’s ready for occupancy. You can find an affordable condo unit or pre-selling house and lot anywhere in the country, from Tanza, Cavite to Tipolo, Mandaue — just be sure to do your due diligence so you can get your money’s worth.

Apply for a high-yield savings account

Make your savings work for you, rather than just leaving it to collect dust in your bank account. The best way to do this is to apply for a high-yield savings account which allows you to earn money just for setting aside cash for a rainy day. You might not earn enough to spend immediately, but it’s still an easy way to make some extra cash without having to do much, and it’s definitely much better than letting your savings just sit around.

Rent your car out

Since you’ll be at home all day, you can have someone else take your car out for a spin in exchange for cash. There are plenty of drivers from ride-hailing companies like Grab who can’t afford to buy their own car yet and are looking for a vehicle to rent. The only downside of this is that your car will take on some wear and tear from constant use, but it’s still worth it for the passive income. Most companies will insure your car in case it gets damaged. If you have a motorcycle or a bike, you can rent those out to ride-sharing and mobile food delivery drivers too. 

Earn from royalties

If you want to exercise your creative side, then you can make money by creating royalty-based content. All you have to do is write an eBook, compose a song, take photographs, or create visual assets that anyone can purchase. You’ll be earning a residual income from each sale you get. Although it involves a little work on your part in the beginning, once you’ve put it up on the web, it’ll just keep turning a profit until you decide to take it down.

If you’re a stay-at-home mom with little time on your hands, these passive income ideas are great opportunities to consider, whether you’re looking for an extra source of money or a dedicated income stream.