Your Smartphone, Your ATM: 20 Genius Ways to Make Money While You Sleep

Did you know 75% of Americans use their smartphones to make money? Your phone can earn cash for you even when you’re not using it. This guide will show you 20 smart ways to make money with your phone. You can start earning extra money easily.

Want to make more money or be financially free? Your phone can help. You can find jobs or earn money without much work. This article will help you use your phone to earn more and live your dream life.

What is Passive Income?

Passive income is money you make without much work. It helps you get richer even when you’re not working. You can make it by investing, creating digital stuff, or renting out places.

To get passive income, find ways to make money that don’t need much work. You can make money from:

• Rental properties
• Dividend-paying stocks
• Interest-bearing savings accounts
• Online courses and digital products
• Affiliate marketing
• Peer-to-peer lending

By finding different ways to make money, you can get closer to financial freedom. This helps you reach your wealth goals.

“Passive income is the holy grail of wealth creation.” – Robert Kiyosaki

With smart plans and hard work, you can start making money without much effort. This lets you earn while you sleep and grow your wealth without working hard.

Truly Passive Income Ideas

If you want to make money without much work, there are good options. These ideas need only one payment and little effort after that. They are easy ways to earn money without much work.

One idea is to invest in different things like real estate or lending to others. These options let you spread out your money and get returns with little work.

Another choice is to invest in real estate without the daily work. Real Estate Investment Trusts (REITs) let you own a piece of real estate without the daily tasks.

If you have more money, stocks that pay dividends are a good option. By picking stocks that pay out regularly, you can earn money without trading or managing your investments.

Lastly, think about a high-yield savings account or long-term index funds. These easy ways can help your money grow over time. They are great for making money without much effort.

“The key to building wealth is finding ways to earn passive income. These truly passive income ideas can help you make money while you sleep.” – [Your Name]

Invest in Alternative Assets

Are you tired of the ups and downs of stocks and low savings account rates? It’s time to look at alternative assets. These investments offer unique classes and returns.

Some popular choices include:

• Hedge funds: They mix money to aim for returns, focusing on risk.
• Private equity: It’s about investing in companies that are not public, aiming for growth.
• Crowdfunded real estate: It lets you invest in real estate projects with lower costs.
• Luxury collectibles like watches: These high-end items might grow in value over time.

Alternative investments can be attractive, but they come with risks. They are less liquid, complex, and may have higher fees. Always research, diversify, and invest wisely.

*Represents an annual net internal rate of return (IRR) for matured investments in portfolios, adjusted for subscriptions, distributions, management fees, and expenses.

“Annual interest,” “Annualized Return,” or “Target Returns” are projected annual interest rates or returns, which may differ from actual returns obtained by investors.

“Alternative investments should be part of a diversified portfolio, as they can provide exposure to unique asset classes and different sources of returns.”

Passive Real Estate Investing

Real estate investing has changed the game for passive income. Now, you can invest in properties without managing them yourself. DiversyFund is a great example. It lets you invest in real estate for just $500.

DiversyFund focuses on safe, multifamily properties. They use tech to find properties that need small fixes to increase value. This makes investing in real estate easy for more people.

DiversyFund is not alone in this trend. Other sites like Fundrise and Realty Mogul also offer similar chances. They let you build a real estate portfolio without the daily work of owning property.

This model is great because it combines real estate’s growth with ease. You get to enjoy the benefits of real estate without the daily work. Professional managers handle everything for you.

“Passive real estate investing offers the opportunity to build wealth through a hands-off approach to real estate, making it an attractive option for those seeking to grow their investments with minimal time and effort.”

But, remember, there are risks like market changes and managing properties from afar. Still, for those wanting an easy way into real estate, DiversyFund is a good choice.

Earn Passive Income With Lending Club

Looking for passive income? Peer-to-peer lending sites like Lending Club might be a good choice. They let you lend money to others and earn interest. It’s a chance to make money while you sleep.

Here’s how it works: You can start with just $25. Your money mixes with others to fund a loan. This way, you spread out the risk. When borrowers pay back, you get interest. You can take it out or put it back in.

Lending Club might give you more money than a regular savings account. They say you could make about 10.58% a year. But remember, there are risks, and your earnings might not always be the same.

To start with Lending Club, sign up and fill out the form. After you’re approved, you can pick loans that fit your risk level. They also have auto-invest options for easy diversification.

Keep in mind, Lending Club has risks. Always do your homework before investing. But if you want to try peer-to-peer lending, Lending Club is a good place to start.

Invest in Dividend Stocks

Companies pay out profits to their shareholders as dividends. These dividends can be a steady passive income from stocks if you have a big portfolio. Dividend stocks give you income and can also grow in value as the company does.

The S&P 500 index tracks the top 500 U.S. companies. It has a dividend yield of about 1.5%. This means a $1 million investment could earn around $15,000 a year. Some stocks in the S&P 500 can yield up to 9.7%, but high yields can mean higher risks.

For steady equity income, look at the S&P Dividend Aristocrats index. It has companies that have raised their dividends for 25 years. These stocks yield about 2.5% on average. Investing in dividend stocks for the long term can give you a steady income.

Open a High-Interest Savings Account

Putting your money in a high-yield savings account is a smart way to earn money while you sleep. Online banks give much better interest rates, up to 4.65% a year. This is way more than the 0.08% from old-fashioned banks.

High-interest savings accounts are safe and easy to use. They help your savings grow slowly but surely.

When picking a high-yield savings account, look at the interest rate, fees, and how much you need to start. The best accounts for 2024 have rates from 3.00% to 5.30%. Some, like Synchrony Bank, offer 4.65% APY and let you make up to 6 free withdrawals or transfers each month.

High-yield savings accounts have many good points. They are insured by FDIC, have low fees, and let you withdraw money up to 6 times a month. Even though you have to pay taxes on the interest, they are a safe way to grow your money.

To get the most from your high-yield savings, keep an eye on the market, set savings goals, and use automatic savings tools. By using these accounts, you can build wealth and reach your savings goals easily.

Long-Term Index Fund Investing

Index fund investing is great for a long-term portfolio. It’s good for retirement or other big goals. Unlike other funds, index funds follow a market index like the S&P 500. This gives you a wide range of stocks at a low cost.

Now, almost half of U.S. fund assets are in passive index funds. People see their benefits. Over 80% of active funds have not done as well as their indexes in 15 years. This is because they cost more and take away from your money.

Index funds, however, are very cheap. Their fees can be as low as 0.04%. They also don’t make you pay as much in taxes. This makes them perfect for growing your money over time.

Investing in a Fidelity ZERO Large Cap Index fund or a Vanguard S&P 500 ETF can help you grow your wealth. These funds offer steady returns that match the market. This is a strong way to secure your financial future.

“Over the long term, many index funds have outperformed actively managed funds, especially when considering fees and expenses.”

Choosing index fund investing can help you build a diversified portfolio. It meets your long-term financial goals. It’s a simple and cost-effective way to grow your money over time.

Become an “Angel” Investor

Angel investing is exciting and risky. It means giving money to new startups in exchange for a share. If the startup does well, the rewards can be big. This way of investing offers chances to see things not found in stocks or real estate.

There are almost 330,000 active angel investors. They have put over $25 billion into startups in many fields. They give money from $10,000 to $2 million to very new companies.

But, angel investing is risky. About 50% or more of new startups fail. They might not have the right product, enough money, or make sales. Also, getting money back can take 5 to 10 years, unlike stocks.

To do well, learn from others, make good connections, and do your homework. Helping founders can also help you. One investor said, “It takes 7 to 10 years to see how your investments do,” so be patient.

The rewards can be huge, though. Angel investors can make up to 100 times their money back. But, 75% to 90% of startups might fail, so pick wisely.

If you want to be an angel investor, know it’s a big risk. But, with patience and learning, you can find great opportunities in startups.

Angel investing is both risky and rewarding. It needs patience and a good understanding of startups. By choosing wisely and learning from others, you can find great chances in angel investing.

making money from your phone

In today’s world, our phones are more than just for calls. They can also make us money. There are many ways to use your phone to earn cash, even when you’re sleeping.

Print-on-demand is a great way to start. You can sell cool stuff like t-shirts and phone cases. You don’t have to worry about storing or shipping anything.

Affiliate marketing is another good choice. If you’re good at social media, you can make money by sharing products. You get paid when someone buys something through your link.

• Dropshipping lets you sell products online without keeping any stock. It’s easy to do on your phone.
• Online surveys can also pay you. Sites like Swagbucks and Survey Junkie give you money for your opinions.
• Playing games on platforms like Twitch and YouTube can earn you money too. You can get paid from ads and sponsorships.

You can also make money by selling things you don’t need anymore. Sites like eBay and Poshmark are great for this. Testing apps and websites for money, or freelancing through apps like Fiverr and Upwork, are other smart ways to use your phone.

“I’ve been able to earn a couple of dollars an hour just by sharing my thoughts and opinions through online surveys.”

There are so many ways to make money with your phone. Whether you want to earn money easily or work hard, your phone can help. It’s a powerful tool for making more money and being financially free.

Earn Money by Watching Videos and Shopping

In today’s world, you can make money easily from your phone. There are apps and sites that pay you to watch videos, do surveys, and even shop online.

Swagbucks is one app that lets you earn points. You can get these points by watching videos, taking surveys, and shopping online. Then, you can trade these points for gift cards or cash.

InboxDollars pays you for watching short videos. Most videos pay between 5-25 cents. You can also earn by doing surveys and other online tasks.

Other sites like Nielsen Computer and Mobile pay you for sharing your device data. Apps like PrizeRebel, MyPoints, and Roz Dhan also offer rewards. You can earn by watching videos, trying offers, and referring friends.

By using these get paid to watch videos, earn cash for online shopping, and other passive income from online activities options, you can make money from your phone. This way, you can turn your free time into money with reward apps and platforms.

Turn Unused Space into Paid Storage

Do you want to make money from home? Rent out your unused space as storage! Use platforms like Neighbor to turn your spare room, basement, or garage into money makers.

Neighbor is a site that lets you rent out your space. You can make about $300 a month or up to $50,000 a year. It depends on how big your space is and where it’s located.

It’s easy to start: just list your space on Neighbor, set your prices, and wait for renters. Neighbor takes care of the money and insurance. You can also choose when you’re available and what rules to follow.

Many people make good money on Neighbor. Some earn hundreds of dollars each month. Others make up to $50,000 a year by renting out their space.

If you have unused space, why not rent it out? It’s a simple way to make money from home. You can use Neighbor to earn money from your extra space.

“Renting out my unused garage space through Neighbor has been a game-changer. It’s truly passive income that requires minimal effort on my part.”

Explore Side Hustles and Gig Work

Building passive income streams is great, but side hustles and gig work are even better. You can earn extra money on your own schedule. For example, you can deliver food with DoorDash, which is huge in the U.S. market.

Or, you can drive for Uber. These jobs use your smartphone to make extra money. It’s a great way to add to your main income.

Apps like Survey Junkie and Branded Surveys let you earn money from your phone. You can make $1-$3 per survey. You can also rent out space with Neighbor or sell items with Decluttr.

Walking dogs with Rover can earn you $15-$25 per walk. You can also get cash back on gas with Upside. Freelancing on Fiverr and Upwork can make you $500 to $5,000+ a month.

More than a third of American adults have a side hustle. They use the extra money for everyday things. The gig economy is huge, with over 60 million freelancers in 2022.

Side hustles can make you $686 a month on average. But, with the right hustle, you can earn much more.

Conclusion

This article showed many ways to make money with your smartphone while you sleep. You can invest in stocks, real estate, or start a side hustle. These ideas help you earn money with little effort.

Find what works best for you based on your skills and what you like. You could share your phone’s data, make content, or help others online. Starting these ideas can lead to a better financial future.

Building wealth with little effort is possible. Use your smartphone to make money and live a better life. Success might take time, but with hard work, you can make your smartphone a money-maker.