Being unemployed is not particularly conducive to generating passive income streams. But sometimes life happens. Sometimes even though you’re a good employee or doing the right thing, you and your employer can’t see eye to eye on something, and it becomes time to part ways. When that happens, your bills of course do not stop. There are still some things you need to spend money on in order to meet your basic needs, and to satisfy them you’ll have to figure out some ways to make money without a job really fast!
Looking for Ways to Make Money Without a Job:
Fortunately you’re not alone. Lots of famous people have been let go or laid off from work not only to succeed but in some cases become even more successful than they were before. Even though the effort may be more taxing, especially in the beginning, I’m sure that you’ll that once you start to see that you can build up some stable income on your own, you’ll feel more confident in your abilities to scale it upward even further.
Here are a few of my ideas for ways to make money without a job:
Start Your Own Business:
Who says you can’t be your own boss? If you can’t find a job, then create one for yourself. This is not to be confused with renting out an office somewhere or having a professional sign in your front yard. Lots of people start their own LLC’s (limited liability corporations) for around $100 and then begin down a path of self-employment. A buddy of mine actually just did this with his ability to create technical drawings using CAD (computer aided drafting). And he’s doing it with nothing more than his knowledge, a laptop, and a cell phone.
Starting a website is another of the great ways to make money with a job. With a website you can sell advertising, participate in affiliate programs, and sell your own products (like eBooks, training courses, etc). Every month you could be pulling in over $1,000 from just the simple ads that Google or Media.net place on your site. Just check out any of the income reports from the popular website Smart Passive Income. In September 2013 alone he had almost $26,100 in income from promoting the web hosting company Bluehost. That should get your attention!
Sell or Rent Your Stuff:
Though it’s not a sustainable way to create income, most of us probably have a few things in our basement or garage that we could sell to help us raise money if we weren’t working. Usually Ebay or Craig’s List are the go-to places to unload these items at a decent price. But if you have something very specific or valuable, you may find it better to visit a forum where people who would have a particular interest in that item would find it valuable.
Maybe you’ve got a tool or something that is in high demand but you don’t necessarily want to sell it? Why not lease it out for a fee? People lease out rooms in their house or trailers all the time when they need the extra cash. If you’re not using it, why not make a little return on it?
That type of thing also extends to intangible things that you probably aren’t thinking about. Do you ever record music? Take photos? You could upload both to a site like istockphoto.com and allow people to license them for a fee.
A lot of people don’t realize it until they are older, but your investments can actually reach the point where they generate enough money to replace your employment income given enough time. Say for example you save up a balance of $250,000 over time in a stock market fund. If you’re earning 4% returns on the investment, that means you’ll get paid $10,000 per year from the stocks.
Don’t have enough money to invest? Fortunately there are plenty of small investment ideas you can make that take less than one thousand dollars.
Take on Odd Jobs:
When you’ve got time on your side, there’s plenty of things you can do for other people that will add up. These can be odd jobs like repairs, electrical work, landscaping, babysitting, etc. Any time you’re good at something and can help someone out with a temporary need, you can name your price and decide when you want to work on the project. Working part time is not only one of the classic ways to make money without a job , but it can often lead to a lot of other opportunities with people you wouldn’t have met otherwise.
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