5 Passive Income Ideas for a Little Extra Cash this Summer

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Summer is the perfect time of year for a spontaneous day trip with the family, but with lunch out, transport, and fun activities the cost can add up. If you’d like to make a little extra cash this summer there are a few passive income ideas you can try. There are few ways you can make money with investing much time or effort. Always remember passive income should support your main job, and may not be a continuing source of cash flow. You can make a few extra quid, however, and use this to treat the family. Here are a few ideas to get you started.

Rent out your driveway

If you are going away this summer in the car, or simply don’t drive, you can rent out your driveway using apps such as JustPark. There are many people desperate for a parking space that don’t want to pay the extortionate prices in town. If you live in a convenient location for officer workers and the like but aren’t using your driveway why not offer it for a reasonable price? It’s a win-win situation and requires very little effort on your part.

Rent out a room

Another option is to rent out a room. You can do this temporarily on sites such as Airbnb. This is convenient for those who are looking for a low-cost place to stay on holiday or while they are temporarily between homes. You could also rent out your place while you’re on holiday or consider a house exchange as a cost-effective accommodation option.

Invest online

You could set aside money to invest online. Robo advisors can help you find a lucrative investment and you can start with a small amount. You could try Cryptocurrency exchange with low fees and learn to buy, sell, and trade bitcoin, for example. Do a bit of research and find out your options.

Pet sitting

If you’re an animal lover then pet sitting is a fun and easy way to make some extra cash this summer. You can register with one of the many pet sitting apps to ensure everything is secure and above board. You might end up walking one of your neighbour’s dogs or popping round to check in on their cat. It’s easy money if you’ve got a bit of spare time and you can even take the kids with you.

Sell your stuff

Another way to make money online is to sell your stuff. Summer is a great time of year for a big clear out. If you find unused items in good condition you could sell them on sites such as Facebook Marketplace or eBay. Creating an ad takes minutes to do and you can wait for potential customers to bid. If you have a pair of designer trainers you’ve never worn or duplicate furniture you might be able to get a good price for these. Get creative this summer and look for simple ways to make a little extra cash to have fun with.

Thanks for reading jade x

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