Easy Ways to Make $5k a Month in Passive Income
Easy Ways to Make $5k a Month in Passive Income
Pick one, try all, but it's time to earn extra cash.
Jen “Odd” Glantz here! I wanted to share something a little different today. Rather than pass along odd jobs you can apply for or start on your own, I wanted to share ways you can make passive income - because that’s seriously the best way to earn money from a side hustle/odd job/or business.
Keep reading for ways you can make over $5k a month in passive income, through a variety of ways. Some are easier than others. But I’ve tried them all and decided to share an open and transparent view into how I make money every single month.
PS. I have (2) open spots for 1:1 coaching next month. These go fast so if you ever wanted to work together on a life-career-side hustle strategy, I’ve got your back.
Today’s newsletter is sponsored by an awesome tool - Sunsama
At the end of the month, all the things I procrastinated on come back around and haunt me and my to-do list. I find myself working late, unable to enjoy date nights, and staying up past my bedtime to rush to get things done.
This month was the first time, in a long time, that didn’t happen. Here’s why - I used Sunsama. They’re the only “planning assistant” that’ll act as your friend in need if you want to prevent burnout and establish a sustainable routine. It pulls your emails, calendar events, and tasks from your favorite apps into one focused view for just today and hand-holds you towards work-life balance.
Guess what? You don’t even have to put your card in to try it: Plan your day in Sunsama.
Easy Ways to Make $5k a Month in Passive Income
In 2015, at age 26, I was laid off from my six-figure job as a copywriter. It felt like a major setback at the time. But looking back, it was the motivation I needed to become my own boss.
Immediately after my layoff, I was asked to be a bridesmaid for two weddings. But rather than feeling stressed, I saw an opportunity. I had been a bridesmaid almost a dozen times before, and not only did I enjoy it, I was also good at it.
So I posted a bridesmaid service ad on Craigslist — and received over 300 inquiries. Some people had close friends who couldn’t make their wedding day, others didn’t need a full-service wedding planner, but wanted some help planning logistics.
That’s how Bridesmaid for Hire was born in 2015. After serving more than 125 weddings, I’ve been able to use my brand to create three passive income streams that generate more than $5,100 a month.
Here’s a closer look at each of the income streams:
1. Sharing products I love
Passive income earnings: $3,000 a month
I have been blogging about wedding planning since 2011. I love sharing behind-the-scenes looks at my life and business with my 100,000 social media followers and 40,000 newsletter subscribers.
Last year, after talking to some influencer friends, I started a new income stream making money as a brand affiliate through platforms like Amazon Affiliate Program and RewardStyle.
How it works is that I share products — jewelry, dresses, shoes, purses, makeup and beauty products — that I would wear to a wedding on social media, my website and weekly newsletters. Each time someone clicks on the link and makes a purchase, I earn a percentage of the sales.
I spend about 20 minutes each week searching for products and creating content around them. I keep a running list of items I actually use and enjoy.
3. Creating online courses
Passive income earnings: $2,000 a month
In 2017, I created my first course to teach people how to start a wedding business. During the pandemic, I released other courses on personal branding, public speaking and how to get unstuck in your career. Now I offer a total of five online courses.
When developing a new course, I think about the areas that I am an expert in, and I ask my audience what they are most interested in. I typically do this by sending them surveys and polls, either on social media or through my newsletter.
Putting together the framework of the course can take anywhere from a few weeks to a few months, depending on how in-depth I go. I use iMovie or CapCut on my phone to film and edit the course videos.
I also use an email marketing platform called FloDesk and a hosting platform called Thinkific.
3. Writing eBooks
Monthly passive income earnings: $100 a month
I have written three books. My first, “All My Friends Are Engaged,” is about what inspired my business. “Always a Bridesmaid for Hire” is about my experience growing my company, and “Finally the Bride,” is about what I learned from planning my own wedding.
“All My Friends Are Engaged,” was released through an online publisher. I worked with a traditional publishing company in 2018 for “Always a Bridesmaid for Hire,” which paid me a flat fee to write it, and I don’t earn royalties from any sales.
With “Finally the Bride,” I wanted to take more ownership of the process. I released a new chapter every month (a traditional publisher wouldn’t have been able to support that), and I get to keep 100% of the profits.
I use a free platform like Reedsy to format the book, and Canva to design the cover. I set the price below $10 to make sure it’s affordable and accessible to everyone.
As my business continues to grow, I’m always searching for new and innovative ways to make more passive income. That way, I can minimize how many hours a week I work and maximize how much money I bring in every month.
*This was originally published as a CNBC article here*
The Odd List of Random Things
Add to your life:
Books & Stuff:
A fun little list of all the things that I adore the most in this world - from books to oddities for your desk.
Tools: Here are some of my go-to platforms to use.
Time management and to-do list management tool I use daily
Random: These things are always good to keep handy
The most delicious healthy pick-me-up soda. I love the root beer, cola, and cream soda flavors the most.
When I need a good gift for someone, I send them a wine subscription or a treat from this site. If they are engaged, this is the ultimate gift to send.
Other newsletters to enjoy: Monday Pick-Me-Up, The Gist (if you love sports), Morning Brew (all your news in one spot).
Work With Jen Glantz:
Let’s work together, whether 1:1, through a course, or even for a company workshop.