How To Make Passive Income With Little Money

Have you ever wanted to make passive income but felt like you didn’t have the money it took to get started? Well, in this article I will share with you 7 passive income ideas that take little money to get started!

Idea #1: Leverage High Interest Bank Accounts

If you have money laying around in the bank and have never thought twice about it then more likely than not you are not maximizing the return on these funds. While using bank accounts to make passive income won’t make you rich overnight, moving your money into higher yielding accounts can help your money grow at a faster rate than you’ve normally been experiencing. And the best part is that most banks don’t require a minimum balance meaning that even if you don’t have much money to your name, you can start to gain a bit of extra interest on the money you do have.

You see, as of 2019, the average savings account interest rate was a measly 0.09% but what a lot of people don’t know is that there are a number of better options available. For instance, if you’re looking for a low-risk, high interest-earning cash account, Betterment Everyday, currently offers a 2.44% APY (NO LONGER OFFERED) which is more than 27 times the average and this account is fee-free meaning that the difference in interest you earn is yours to keep. Now, you’re…