2 Unique Ways to Earn Passive Income From Your Home
- 3rd December 2018
- Posted by: Loanable
- Category: Resources
With the economy slowing down, and inflation edging upwards, many of us are find our wages not going as far as they previously had. Some fear we are headed towards a recession of sorts, and with the Brexit still being sorted out, and the Bank of England looking to raise interest rates, it is easy to see the financial panic in some people’s eyes.
Part of this economical slowdown is being blamed on the Brexit, and our looking at leaving the EU, and also the increase in price in some products due to new tariffs that may be put into place once we fully leave the EU.
Many businesses and industries as a whole, such as the airline industry and banking, have grave concerns about their ability to continue doing business as they are and have been, once we fully leave the EU.
These are valid concerns, and from our standpoint, as just a worker doing their jobs each day, we also are concerned about how are wages are not going as far as they had, and how we can increase not just our buying power, but also our incomes.
There are many ways to bring in extra cash each month, getting a second job, selling unused items, but nothing is as good as passive income. Income we receive each month for doing almost nothing.
One way to receive this form of income is to invest, however, you need money to make money as the saying goes. Unless you have money to invest, and know where to invest it, this is not going to be an option for you.
However, many people do have their homes, and their homes can be a source of additional income for them.
Lodgers and Parking Spaces
This is not anything new, things like taking in a lodger (which needs to be well thought out), and also if you have an unused driveway, letting it out.
While not a new way to earn some extra cash, it seems to becoming more popular these days.
According to the web site YourParkingSpace.co.uk, their members on average earned £1,000 last year from renting out their unused driveways. In London the amount was well over £2,000 a year.
Parking in many towns and cities can be not just difficult to find, but expensive. If you live in a “commuter town” where people flock to for work, and have a driveway you are not using, you could make some extra cash.
The Managing Director of YourParkingSpace.co.uk, Harrison Woods stated, “These results demonstrate that there are potentially very lucrative money earning opportunities across the UK from renting a driveway, garage or secure parking space.”
“An increasing number of businesses with spare parking capacity are also registering on YourParkingSpace.co.uk. It’s very simple to do and unlocks a potentially significant revenue stream, in many cases just by being close to local amenities.”
And this is something you can do on your own, you do not necessarily need to use third parties or advertising web sites in order to let out a driveway.
One caveat is that you may wish to inquire with your local council about any issues or ramifications of letting out your driveway. Some councils take exception to this, however, many MP’s feel this is a good way for people to make extra income, and it is not in violation of any laws.
Putting Your Home in Films
The next time you watch a film, or TV programme, or even an advert, look at where it is being filmed, is there a particular room, or house in the film?
Not all films and shows are shot on sound stages, or huge warehouses used just to film, many movies, adverts, and TV shows are filmed on location, or at an actual site. Using an actual house, or flat, or just a real room in someone’s home.
That someone’s home could be yours. You can make money, get paid for allowing your home to be used in a programme, be a TV show, film, or advert.
How much can you earn, it depends, but it could be from a few hundred pounds, to a few thousand pounds.
Of course you have to be willing to allow film crews to be inside or outside your home.
There also may be some insurance issues you would want to look into as well.
So just a couple of unique ways to put your home to use to earn some extra income.