Are you looking for a side hustle that can make enough money to supplement your income as a teacher? In this article, we shall be looking at some passive income ideas to help you do just that.
Passive income is a type of income that can be generated with minimal work, which means that it wouldn’t interfere with your full-time job teaching (unless you’re thinking about switching careers).
It’s one of the best ways to make money in this age. This article will go over 22 passive income side hustles for teachers.
22 Passive Income Side Hustles for Teachers
1. Publish an e-book
This is one of the best side hustles to create passive income for a lifetime. You can write your e-book on any topic that you’re knowledgeable in. Just make sure to first do some research using tools like Google Trends and Keyword Planner to ensure that there is actually demand for it online.
Once you’ve written the book, you can publish it via Kindle Direct Publishing, which gives you access to millions of Amazon customers. Every time you make a sale, Amazon takes a small commission and then pays you the rest.
2. Invest in stocks
Stocks can be a great way to make passive income. For regular cash payouts, you could purchase high-dividend stocks based on company earnings. You can also keep your ordinary low-dividend stocks, and let them increase in value until they are ready to be sold at a profit.
You can also buy shares in REITs (real estate investment trusts) with as little as $100 and you’ll get a portion of the income the real estate projects generate.
3. Invest in crowdfunded real estate projects
Although REITs, as mentioned above, are an easy way to get into real estate on a budget, they don’t allow you to pick specific properties to invest in.
With crowdfunded real estate, you can purchase a stake in real estate projects through programs such as Fundrise or RealtyMogul from the comfort of your sofa and get a share of the income they generate.
4. Purchase bonds and/or CDs
Two very low-risk passive income streams are bonds and CDs ( certificate of deposit). Although they are a very secure investment type, the downside is that the returns are not as attractive as some of the other side hustle ideas discussed in this article.
You can typically earn around 2% on a 1-year CD. If you withdraw cash too early, there is usually a penalty.
6. Get into affiliate marketing
Affiliate marketing is a fantastic side hustle that requires minimal effort. All you need to do is to find affiliate products that you can promote to an audience. Every time somebody makes a purchase through your link, you get paid a commission from the sale.
7. Sell stock photos
Selling stock photos is one of the best side hustles for teachers. If you’re like most people and you enjoy taking photos using your smartphone, you can start selling them on stock photo websites like Shutterstock.
8. Flip domain names
Domain names are like real estate on the internet. Everyone wants a great one, but there is a limited supply.
A good way to make passive income is to buy domain names that you believe could be lucrative and in-demand, then list them for sale. This can be done relatively inexpensively, but the risk is that you could end up paying for domains that don’t sell.
The potential reward, on the other hand, is that you could make thousands from just a single sale. A few years ago the domain “carinsurance.com” was sold for $49 million.
9. Sublease to your home
Renting to roommates can dramatically increase passive income if you own an apartment or house.
You can add hundreds to your monthly income by sharing a spare bedroom for the price of renting one. This is called ” house hacking“, which basically cancels your mortgage payments and generates rental income.
If you aren’t looking for a long-term roommate but live in a desirable area, you could list your room on Airbnb.
You can also rent out your driveway or designated curb parking if you live near a major tourist area like a city, beach, or other urban centers.
10. Use cash-back apps
You can use apps such as Dosh to earn passive cash-back whenever you spend at a restaurant or store that is eligible.
11. Online shopping cashback
If you’re addicted to online shopping, you can also create an account on Rakuten and get up to 8% cashback on your purchases.
Rakuten’s program has thousands of participating retailers, including Macy’s, Priceline, Microsoft, etc.
12. Rent out your tools
If you have tools lying around your home such as lawnmowers and carpet cleaners, you can rent them out to other people through sites like Sparetoolz.
13. Peer to peer lending
This is another great side hustle if you have liquid funds you are able to lend for a time. There are many P2P lending websites that allow you to do this with contracts and personal verification methods. This will ensure that both borrowers and lenders are genuine.
Remember that there is still the possibility that a borrower could default on a loan. So don’t try to put all your eggs in this one basket.
14. Get a high-yield savings account
High-yield savings accounts offer a safe place to store your money. The downside is that the earning potential from the interest is not something you will be able to live off (unless your investment is substantial).
You can sometimes get as high as 5-6% on certain amounts at credit unions and other special accounts such as Netspend.
You can expect to receive 1-2% on your regular online savings accounts. These rates are partly determined by the Federal Reserve’s target interest rate. They can change from time to time.
15. Buy a blog
You can purchase an existing blog that is already making income through sites like Flippa. To scale it even further, you’ll have to consistently publish more articles. You can either write them yourself or outsource them to freelancers.
Blogs usually make money through ads, affiliate marketing, and charging for sponsored posts. The more traffic your blog has, the more money you’ll likely make.
16. Create an online course
Similar to writing an e-book, you can create an online course on any topics you specialize in, and then upload them to platforms like Teachable, where people will be able to enroll and pay your fees.
This is such a fantastic side hustle idea for teachers. You’re probably already experienced in creating structured courses that are easy for students to follow. The only difference will be that you have to record and upload them online.
17. Start a YouTube Channel
If you’re comfortable speaking in front of a camera, then you should consider starting a YouTube channel. The average YouTuber earns over $50,000 per year, making it one of the best side hustles for teachers.
There are many ways to make passive income and monetize a YouTube channel. Advertising, affiliate links and sponsorships are just a few examples.
18. Print on Demand
This is a fantastic side hustle idea if you’re great at graphic design. Print-on-demand platforms like Printify allow you to open your own online shop and sell custom designs without having to stock inventory. You could sell things such as custom t-shirts, sweaters, coffee mugs, journals, stickers, etc.
19. Rent out unused storage space
Do you have some unutilized space in your garage or basement? You can rent it out to other people through Neighbor.com.
20. Advertise with your vehicle
This is one of the easiest ways to make money as a teacher. All you need to do is sign up on platforms like Carvertise, find advertising campaigns in your region and then enlist your car.
Your car will then get wrapped with ad banners for the campaign, and all you have to do is drive around like you normally would. According to Carvertise, you can make up to $1,500 per campaign.
21. Answer survey questions
Swagbucks allows you to respond to survey questions and participate in several other activities such as watching videos or even playing games, and get paid for your time.
22. Redeem credit card points
It’s hard to imagine anyone not wanting to make money from their regular spending. Many credit cards offer sign up bonuses and a percentage of cashback depending on the purchase category. This is a great way to save credit card points and earn extra cash.
This passive income option has one drawback: You need to be very careful about your spending. It should be treated as a debit card. Don’t spend more money than you have in your bank account.
