Passive Income Ideas for Making Money in 2023

The 2020s are all about motivating yourself and gaining personal fulfillment. If you’re not satisfied with how your life is going, it’s always great to pick up a new hobby or interest. But why not pick up a hobby that can help you gain a few bucks? Capitalizing off of creative or business ideas is the ultimate way to achieve big money moves all year long. If you’re looking for ways to make extra money, here are some passive income ideas for making money in 2023.

Become a Social Media Influencer

It’s much easier these days to get a star on the Hollywood Walk of Fame than it is to obtain a Ph.D. Becoming a social media influencer for a niche topic and interest is always an option to gain more income in 2023.

With TikTok becoming the most popular social media app, try uploading a few videos about cooking, working out, fashion, gaming, or any other niche topic to help gain your audience and make a few bucks from views and sponsorships.

Sell Stock Photos Online

Every company needs photos to bring its website, social media, and sometimes storefronts to life. If you’re good with a camera, selling stock photos online is a great option to gain a couple of extra bucks in 2023. Sell your pictures to websites like Shutterstock, Pexels, or iStock to allow others to view and buy your pictures. Businesses can use your photos for blogging sites or stand-in photos until the official images come in. Either way, you’re getting paid!

Buy Rental Property

Investing in real estate is one of the oldest ways to generate passive income and build long-term wealth. However, don’t worry if you don’t have enough in your bank account to buy property. There are various loan options for first-time home buyers to set you up for success. It’s important to know that owning rental properties takes time and hard work. But it’s all worth it when your profits increase.

Teach an Online Course

Another way to gain passive income in 2023 is by teaching an online course. You don’t have to be a professor at a university to teach your skills and give genuine advice to aspiring professionals. The key to making a successful online course is by being highly specific with your target audience.

For example, don’t just think about “creating lower thirds,” but instead think about “creating lower thirds for college productions.” This way, your course will reach your target audience—students in college for TV production. You want your course to be as niche as possible so that it’s easy to find among the other courses.

Rent Out Old College Textbooks

Whether you graduated last month or five years ago, someone out there could use the textbook in your home that’s collecting dust. It’s no secret that textbooks are expensive, and thousands of college students search for books for cheap. Renting out your textbooks is a great way to gain a few bucks over 4–8 months.