Why should you care about passive income apps? Well, if you want to make money while you sleep, then you should. Passive income is money earned with little daily effort on your part. You set up a money-making endeavor, and cash steadily flows into your account.
Passive income can be as little as a few dollars a month to thousands of dollars a month, depending on the source of income and the amount invested. Traditionally, passive income is earned from investments like real estate, buying stocks, interest paid on a savings account, and other traditional avenues.
Today, passive income apps have evolved from traditional passive income avenues and created new avenues.
Types of Passive Income Apps
The growth of passive income apps in the last 3-5 years is exponential. Different ways to make money are now available from your fingertips and with more apps coming out in the near future, comes more opportunity to make money while you sleep.
You will need to check out each app to see because each one is different. Here are some of them:
- Shopping apps; we all love to shop and how good can it get if you can earn money or rewards while you shop. More like, the more you shop, the more benefit it is for you. Just make sure that you watch your shopping habit closely. Remember to shop only for items that you will need and not solely for the rewards.
- Investment apps; this is the type of passive income apps that everyone should get involved with. For most of us, investing can be intimidating, but with investment apps, investing your hard-earned money makes it much easier. The sign-up process is very easy. Pick an app to use and start investing as you learn. You can either invest in stocks, bonds, real estate crowdfunding, rental properties, and other investment opportunities by simply using these apps.
- Money-Saving apps; nowadays, there is no shortage of money-saving apps. These apps are created to easily make you save money for just about any purpose such as a vacation, tuition, emergency fund, or a house downpayment.
If you are looking for ways to earn passive income online, we have compiled this list of the best passive income apps you can use.
20 Free to Join Passive Income Apps to Make Money
This is an app that adds a crowdfunding element into real estate investment. Fundrise is one of several real estate crowdfunding platforms that allow investors to dabble in lucrative real estate projects that would ordinarily be closed to them.
You can invest in properties that cost millions of dollars without breaking the bank. Fundrise offers a variety of carefully curated portfolios of real estate property that you can invest in and grow your net worth. You earn income from the dividends that are paid out by the platform, and you can even re-invest your earnings to enjoy the benefits of compound interest.
Peerstreet is another passive income app that allows you to invest in real estate. However, unlike Fundrise that lets you invest directly in property, this platform is a crowdfunding platform that raises loans for commercial real estate projects.
You get to invest in high-quality real estate loans, and you earn money from interest paid on the loans. The minimum contribution is $1000, and only accredited investors can sign up.
The passive income app helps you invest your money as you spend. Acorns is a micro-investing app that rounds-up any amount you spend on a purchase to a dollar and transfers the difference to your Acorn account.
For example, if you buy a bucket of chicken for $10.25, the app will round up the amount to $11 and transfer $75cent to your Acorns account. It will do this every time you make a purchase.
When your money gets to $5, the app automatically transfers it to the Acorns Robo-advisor, which will invest the cash for you.
The more you spend, the more the money that will be available for Acorns to invest on your behalf. The goal is to help you invest with minimal effort.
This app helps you make money in two ways. When you download the SavvyConnect app, it gathers data about you from your phone and uses that data to send surveys that are a perfect fit for your demographic to your phone. For every survey you complete, you make some money. That is the first way, and that requires a little bit of work on your part.
The second way the app helps you make money is through referrals. When you refer your friends, and they complete a task on the platform, you will earn between $5 to $15 for every job completed.
S’Mores Lockscreen App
This app helps you make money by simply swiping on your home screen. It is one of the easiest ways to make money with little to no effort on your part. Just download the Smores Lockscreen app, they will display content and ads on your lock screen, and you can make some money.
The app will pay you in points daily, which you can redeem as gift cards.
How about making money while you shop. Rakuten makes its money from affiliate marketing. When you shop on the platform, the stores registered on the platform pay Rakuten for connecting them with customers, and Rakuten will share that income with you.
All you need to do is shop online like you ordinarily would, and Rakuten will pay you cashback rewards. Getting paid to shop online is definitely possible nowadays.
This is a very similar app to the Rakuten app, except that Dosh pays you in hard cash. You earn as you shop.
Simply sign up to the platform, link your credit card, and earn some passive income through cashback that will be paid directly to your account or through PayPal.
You can also earn on Dosh through referrals. The platform will pay you $3 for every friend you convince to shop on the platform.
How about getting refunds for your recent purchases. The Paribus app lets you earn rebates anytime whenever the price on your past purchases falls.
So, if you buy an item recently and a lower price of the product appears, Paribus will inform you of the difference in price and negotiate a refund on your behalf.
Identify a restaurant you like, make a reservation, and earn cashback that can be as much as 30%. It is that easy. Seated app is focused solely on restaurants, and it helps you earn cashback rewards just by making reservations and dining at any of the restaurants listed on the app.
You don’t need to shop or make restaurant reservations, all you need to do is download the Honeygain app to your phone, and you can start earning. There is even a $5 sign up bonus.
The app allows data scientists to access the internet by using your phone as a gateway. For every $10gb of data used, you earn $1. You can get up to $50 a month as a passive income from this app, and you will get paid through PayPal.
This app boosts your income by helping you save money. Asktrim app will help you negotiate your bills, identify money-saving opportunities in your budget, and at no cost to you.
This is one of the most famous brands today, and it has revolutionized the hospitality industry. With Airbnb you don’t need to own a Four Seasons Hotel, all you need is a well-kept extra room or even a tent, and you can start earning some extra passive income.
On this list, this is probably the most lucrative passive income apps for people who don’t meet the accredited account requirements of apps like Fundrise. You can make over $500 a month just by letting people stay in a spare room in your house.
If you can earn money by leasing out your room, why not do the same with your dormant recreational vehicle (RV). The truth is that you are not using your RV all the time. So, why don’t you use it as a source of passive income by leasing it out through a platform like Outdoorsy.
The passive income apps we have been looking at from the past two entries require that you own an asset that can be leased out and used to earn money, and Turo is no exception. This app lets you rent out your car when you are not using it. It primarily competes with car rental companies, and it charges a fraction of their fees, so there is always a demand for vehicles.
You choose when you want to make your car available, and you earn money for the time your vehicle is rented.
The WordPress Content Management System (CMS) powers over 30% of the web, and it helps many bloggers make thousands of dollars every month. This app requires initial investment of time and effort to create content that people will be interested in reading.
Once you get that out of the way, there are myriad ways you can earn money. You can make money through affiliate marketing, google ads, selling eBooks on your WordPress site, advertising on your website, online courses, and more.
This platform lets you make money by investing in startups, along with proven angel investors. This means you are putting your money into ventures backed by the biggest names in silicon valley. You can cash out when the startup is acquired, goes public, matures, and starts paying dividends, or by selling your shares.
The minimum amount you can invest is $100,000, so you need to be wealthy before you can use this avenue to earn passive income.
It is also a good idea to diversify your risk by investing in multiple startups. This will also boost your profit potential because the valuation of startups will differ from one another as they mature.
You can become a banker through this app. The app allows you to invest in loan funds and earn through interest paid on the loans. Each loan is broken down into small pieces called “notes,” and you can purchase each for $25 and build a portfolio of notes to spread your risk exposure.
LendingClub is one of the largest Peer-To-Peer (P2P) platforms out there, and it has been growing at a 150% clip year-on-year.
However, you must familiarize yourself with age, and income requirements and your state of residence must be one of the approved states on the platform.
All you need to do is to create a course, upload it to the platform, and watch your money roll in. With Udemy, everyone that subscribes to your course will pay you for it. This means a single course can continue to earn money for you with little additional effort on your part.
Your stunning photo collection of nature, the urban environment, people, and anything can be a source of passive income for you. if you download the Shutterstock app.
You upload your photos to the platform, and customers that download them will pay you royalties. A few images can become a source of a steady stream of income.
Beatstars is another platform that lets you convert your creative efforts into a source of passive income. If you have beat samples that you know people will be willing to pay for, you can upload them to the platform and watch the money roll in while you sleep.
Conclusion – Passive Income Apps
There’s no better time than now to look for ways of making money passively to supplement your income. Recent innovative technology and the ubiquitous smartphone has made it easy to earn cash without continuous toiling.
This list has some of the best apps that can help make you money without ongoing effort on your part. Although the income from these sources may not grant you billionaire status, they can go along way in helping you offset some bills, save more, and improve your financial security.