I came across two great articles yesterday on other blogs that fit with my overall long term goals in generating as much passive income as possible to become financially independent. The first article was posted on Moolanomy where Pinyo offers a guide to earning extra income. The post describes different sources and types of income that are available. It goes on to say that people should focus on building multiple income streams as a career instead of focusing only on a job as a career. I would highly recommend reading this article as there are several other links to other good stuff on this site that discuss alternative income and passive income.
The second post that I came across yesterday with a similar theme was posted on Frugal Dad which discussed how to make your income more passive. It also covers the importance of making your income as passive as possible. Both these articles are the reason why I started PFI and motivated me to put together a list of alternative income streams that I am currently receiving income from, working on, or am thinking about.
Income Streams currently earning money
The following list of alternative income streams are currently earning some sort of income for me and my family.
- Stock Dividends
- Prosper Interest
- CD Interest
- Savings Account Interest
- Deep In the Money Option Calls
- Selling Covered Call Option Contracts
- Sale of Stock
- Credit Card Rewards
Income Streams in process
I am currently working on developing the following list of alternative income streams and in some cases have earned money but not received a payment yet.
- Ebates
- MySurvey
- CashCrate
- Kontera
- SocialSpark
- Pepperjam Network
- Adding a Roommate
- Creating a Niche Blog(s)
- Create a Keyword Blog(s)
- Shop at Pharmacy’s and make money
- Domain Parking
- PayPerPost
Income Streams that I am thinking about
The following list of alternative income streams are ones that I am currently researching or considering creating in the next 12 months.
- Big Crumbs
- eBay
- Amazon Affiliates
- Craiglist
- Tax Liens
- eHow
- Buy/Sell Coupons on eBay???
- Purchase rental property
The 3 different lists above is a brainstorm of where my income is coming from or that I am thinking about creating that are other than my day-to-day job. Over time, I hope to make as many of these income streams or new ones as passive as I can. Once an income stream has been established and is successfully bringing in income, I can focus on reducing the time I spend on it to make it as passive as possible.
What types of alternative or passive income streams do you have?
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Those are great lists!
Right now my list includes:
savings account interest
various blog advertising (Adsense, text links)
eHow
I’m really focused on eHow right now. I’m also considering some things that are on your list so I’ll be watching to see what you choose to focus on and how it does for you!
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Great post!
Mine include:
Active:
Savings interest
Amazon/Half/eBay Sales
Rental (apartment)
Working on:
eBates
Pepperjam & other referral income
mysurvey
Rental (one stall garage storage space)
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CEO – I hope to write individual posts on my experience with each of the items on my list. I noticed you are very focused on eHow on your site. That will probably be my next area of focus after I get done working on some of my other blog domains (niche sites).
Dawn – Is your garage rental space in your house? That is interesting. How do you find MySurvey?
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My income streams include:
Dividends
Blog Income ( very active) – TLA, Adsense, Kontera, Other
Interest from CD, Prosper, Rewards Checking
I have tried devising a strategy where I could simply sell the calls or puts without them being exercised, but haven’t been successful yet.
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Great post!
Mine include:
> Save money online shopping with http://www.savingswatch.com (They offer a much higher cashback! I have earned over $230 total since I have joined them)
> rent out a room
> Sell my handmade products on Etsy
> Enter contests and giveaways (using Google Alerts) and sell the prizes
> Sell used books on Amazon.com
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I’m glad you mentioned Frugal Dad as I really enjoy reading his posts too.
I’m currently making passive income through the following:
Stock Dividends
ING Savings
Prosper
Big Crumbs
adsense
squidoo
Researching:
pay per post
reviewme
bans
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Dividend Growth Investor – Yeah, I am trying to focus on a strategy for selling the covered calls. I ended up losing my BAC shares back last month because of my CC Contract. I was fortunate enough to pick back up the shares on a dip.
Susan – Thanks for the visit. What type of products do you sell on Etsy? I will check out the other items you mentioned as I am always looking for new ideas!
Scott – I am not qualified for any posts on Pay Per Post right now and ReviewMe denied my application. Let me know what you think about bans.
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Here’s my addition: ViSalus Sciences. Starting your own side business requires a difficult balance – you want all the freedom of being your own boss but it is extremely difficult to build something from the ground up! I’ve recently found a compromise for my own life: I joined this internet marketing company called ViSalus Sciences which has given me a business plan but flexibility to do it my own way. I could go on for a while with excitement since ViSalus seems to have provided the perfect solution for my side business, but since my enthusiasm might be misunderstood as an advertisement, why don’t you email me at annagilbert.ia@live.com and we talk one on one about this exciting opportunity!
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