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Multiple income streams can be key to buildingwealth.
Opting for ventures that require you to purchase little-to-no materials can safeguard your earnings.
Heres a look at five inflation-proofpassive income streams to consider.
Rent Out a Parking Spot
Monetize your empty parking space by renting it out to neighbors.
List your spot on sites like Neighbor.com to easily connect with potential renters.
Specific rates vary by factors such as geographic location and whether your space is indoor or outdoor.
Setting it up will require considerable effort, but afterwards, you could collect earnings for years to come.
Theres no shortage of topics you’re free to teach.
For example, Udemy offers courses ranging from web development to pet care and yoga.
The average Udemy instructor earns $3,306 per year, according to analysis conducted bySellCoursesOnline.
However, 75% of Udemy instructors make less than $1,000 per year.
To maximize potential profits, conduct research before creating your course.
This could be your basement, attic, spare room oreven a garage.
Sites like StoreAtMyHouse.com allow you to list your space and connect with renters.
The average storage unit costs approximately $180 per month, according to a Move.comanalysis.
Sell Printables
Put your artistic side to work selling digital downloads on Etsy.
This requires no physical materials or shipping fees, keeping costs to a minimum.
In fact, you could use free design tools like Canva to create your content.
The average annual income of one rental car is $10,868 per year, according to the companys website.
However, you could step it up a notch and purchase cars specifically to rent out.
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