10 Passive Income Apps That Pay You While You Sleep
Imagine earning money while you sleep, travel, or simply relax. Sounds too good to be true? It’s not! With the rise of technology, there are now passive income apps that allow you to generate income with minimal effort. Whatever be the purpose, whether it is about increasing your salary, saving for a big purchase or achieving financial freedom, these apps can help you.
If you’re interested in other passive income ideas, check out this guide on how to build multiple income streams.
In this blog post, we will introduce you to the 10 passive income apps that pay you while you sleep. Whether you are using cashback apps or the investment platforms, these tools can help you earn a steady income.
Why Passive Income Apps Are a Game-Changer?
Passive income apps offer several benefits:
- Low Effort: Once set up, these apps require minimal maintenance.
- Flexibility: You can earn money from anywhere, at any time.
- Diverse Income Streams: Combine multiple apps to maximize your earnings.
- Financial Freedom: Build a safety net or achieve long-term financial goals.
Let us talk about the 10 best passive income apps first:
1. Rakuten (Cashback)
Rakuten is a cashback app that rewards you for shopping at your favorite stores. Simply shop through the app or website, and earn a percentage of your purchase back.
How It Works:
- Sign Up: Create a free account on Rakuten.
- Shop: Browse through thousands of partner stores.
- Earn Cashback: Receive a percentage of your purchase back.
Pro Tip: One should combine Rakuten with credit card rewards for even more savings.
2. Acorns (Investing)
Acorns is an investment app that rounds up your everyday purchases and invests the spare change.
How It Works:
- Link Your Cards: Connect your debit or credit cards.
- Round-Ups: Acorns rounds up your purchases to the nearest dollar and invests the difference.
- Grow Your Portfolio: Choose from pre-built portfolios based on your risk tolerance.
Pro Tip: You should enable recurring investments to grow your portfolio faster.
3. Honeygain (Data Sharing)
Honeygain pays you for sharing your unused internet bandwidth. It’s a simple way to earn passive income without any effort.
How It Works:
- Download the App: Install Honeygain on your devices.
- Share Bandwidth: The app uses your unused internet connection.
- Earn Money: Get paid based on the amount of data shared.
Pro Tip: One can use multiple devices to maximize their earnings.
4. Swagbucks (Surveys and Cashback)
Swagbucks is a versatile app that allows you to earn points (called SB) through surveys, shopping, and watching videos.
How It Works:
- Sign Up: Create a free account on Swagbucks.
- Complete Tasks: Earn SB by taking surveys, shopping, or watching videos.
- Redeem Points: Exchange SB for gift cards or PayPal cash.
Know about these best online surveys that actually pay well!
Pro Tip: Participate in daily polls and surveys for bonus SB.
5. Robinhood (Investing)
Robinhood is a commission-free investment app that allows you to invest in stocks, ETFs, and cryptocurrencies.
How It Works:
- Sign Up: Create an account and link your bank account.
- Invest: Buy and sell stocks, ETFs, or cryptocurrencies.
- Earn Dividends: Some stocks pay dividends, providing a steady income stream.
Pro Tip: Reinvest dividends to grow your portfolio faster.
6. Ibotta (Cashback)
Ibotta is a cashback app that rewards you for shopping at grocery stores, online retailers, and more.
How It Works:
- Download the App: Install Ibotta on your smartphone.
- Browse Offers: Check for cashback offers before shopping.
- Redeem Rewards: Upload your receipts and earn cashback.
Pro Tip: One can combine Ibotta with store loyalty programs for maximum savings.
7. Drop (Cashback)
Drop is a cashback app that rewards you for shopping at your favorite stores and brands.
How It Works:
- Sign Up: Create a free account on Drop.
- Link Your Cards: Connect your debit or credit cards.
- Earn Points: Shop at partner stores and earn points automatically.
Pro Tip: Use Drop for everyday purchases like groceries and gas.
8. Fundrise (Real Estate Investing)
Fundrise allows you to invest in real estate projects with as little as $500.
How It Works:
- Sign Up: Create an account on Fundrise.
- Choose a Plan: Select a portfolio based on your investment goals.
- Earn Returns: Receive quarterly dividends and potential appreciation.
Pro Tip: Reinvest dividends to grow your real estate portfolio.
9. M1 Finance (Investing)
M1 Finance is an investment app that allows you to create a customized portfolio and automate your investments.
How It Works:
- Sign Up: Create an account and link your bank account.
- Build a Portfolio: Choose from pre-built portfolios or create your own.
- Automate Investments: Set up recurring deposits and let M1 handle the rest.
Pro Tip: Use M1’s borrowing feature to access low-interest loans.
10. PaidViewpoint (Surveys)
PaidViewpoint is a survey app that pays you for sharing your opinions.
How It Works:
- Sign Up: Create a free account on PaidViewpoint.
- Complete Surveys: Earn points for each survey you complete.
- Redeem Earnings: Cash out via PayPal once you reach the minimum threshold.
Pro Tip: You should complete your profile to qualify for more surveys.
Tips for Maximizing Your Earnings:
- Combine Multiple Apps: You should use a mix of cashback, investing, and survey apps to diversify your income.
- Set It and Forget It: Automate your investments and cashback earnings for true passive income.
- Stay Consistent: Regularly check your apps for new opportunities and offers.
- Track Your Earnings: Use a spreadsheet or app to monitor your income streams.
What is the Final Conclusion?
Looking to build wealth or achieve financial freedom?
If your answer is yes, then you should try these 10 passive income apps.
These 10 apps can fetch you money even when you are sleeping, traveling or enjoying life.
Start small, stay committed, and watch your passive income grow over time.
