How To Earn Passive Income For Social Workers In 2024
Last Updated on April 21, 2023 by John Cirelly
In this article, we’ll explore how to earn passive income for social workers. Whether you’re looking to earn a little extra cash or create a sustainable source of passive income, there’s a strategy that can work for you! 🙂
As a social worker, you likely have a passion for helping others and making a positive impact in your community. But like many people, you may also be looking for ways to earn some extra cash in your spare time. Here’s how you can get started!
Quick Note: Passive Income doesn’t mean you don’t have to do any work. It just means you can get paid outside of working hours. By building systems, you can continuously earn from them even after you’re done building.
5 Ways To Earn Passive Income As a Social Worker
1. Start a YouTube Channel
As a social worker, you have a unique perspective on social issues and a wealth of knowledge that you can share with others through video content. The beauty of YouTube is that it’s a search engine, so if your video ranks for a keyword, it will show up long after you hit publish.
Simply put, you can get paid for videos that you made years ago. Once you have a stockpile of videos you can slow down or simply stop posting and continue to make passive income.
You can create content on a variety of topics related to social work, such as mental health, addiction, poverty, and social justice. By sharing your experiences and expertise, you can help people understand these complex issues and provide them with valuable insights and resources.
The amount you can make from a YouTube channel will depend on a variety of factors, such as the size of your audience, the types of content you create, and the monetization strategies you use. However, some successful YouTube channels can earn tens of thousands of dollars per month from ad revenue and sponsorships.
2. Start a Blog
Starting a blog is a great way for social workers to earn passive income through ads, affiliate sales, and digital products. Through your blog, you can share your experiences, knowledge, and advice with those who need it most.
Your content could help aspiring social workers, or be centered around content for people that may need a social worker.
So how much can you expect to earn from blogging? Well, it really depends on several factors such as your niche, your audience, and your monetization strategy. Some bloggers make a few hundred dollars a month while others make six figures or more. But the good news is that with dedication, hard work, and the right strategy, anyone can make money from blogging.
3. Create a Course
Creating an online course is another fantastic way for social workers to earn passive income. As a social worker, you likely have a wealth of knowledge and experience that others would love to learn from. By creating a course and sharing your expertise, you can earn money while helping others.
For example, you could create a course to help aspiring social workers obtain their CFSW or ACSW. You could pick from any number of social worker certifications you have experience in and tailor a course to help students pass the first time.
The great part about online courses is that you can record it once and then earn passive income for each sale. While it can be helpful to do live Q&As for your students, a majority of your time will be free to do what you want.
4. Rent Your Parking Space
Renting out your parking space is a smart way for social workers to earn passive income, especially If you live in a city or near a popular event venue. This is a win-win situation as you can make money from an asset that would otherwise be sitting unused. If you work from home and don’t have to commute this might be an even better deal for you!
The best part about renting out your parking space is that it requires little to no effort on your part. Once you find a reliable renter, all you have to do is sit back and collect your passive income. Apps like Neighbor, Curbflip, and SpotHero are great places to list your space.
On average, you can expect to earn anywhere from $50 to $200 per month in passive income from renting out your parking space. It may not seem like much, but it’s an easy way to make some extra cash without doing much work.
5. Invest In Real Estate
Investing in real estate is a tried and true way to earn passive income. Real estate is a tangible asset that can appreciate in value over time, and renting out a property can provide a steady stream of passive income.
As a social worker, you may not have a lot of money to invest upfront, but there are still ways to get started in real estate investing. One option is to invest in a real estate investment trust (REIT), which allows you to invest in real estate without having to buy physical property. Another option is to consider house hacking, where you live in one unit of a multi-family property and rent out the other units to cover your mortgage and generate passive income.
How much you’ll earn can vary depending on rent price, location, and the details of your mortgage. Typically, real estate investors earn anywhere from $500 to $2,000 or more per month in passive income from renting out their properties.
6. Rent Your Spare Space
Did you know you can rent out space in your shed, garage, or home? This is a great source of passive income because you don’t have to deal with guests like on Airbnb. Platforms like Store At My House and Neighbor are great places to list your spare spaces.
Once you have a buyer, simply give them a copy of your key and have them move their stuff over. You can expect to earn anywhere between $25-$250 a month for your space. Large spaces and spaces with amenities like temperature control and power often fetch a higher price.
7. Rent Your Backyard
Renting out your backyard as a dog park is another unique way for social workers to earn passive income. Believe it or not, you can rent out your property to dog owners who are looking for a safe and private place for their furry friends to play and exercise. This works especially well in urban areas that lack dog parks and nature areas.
You can post your property on Sniffspot to get the word out there or leave fliers with local dog groomers and pet stores. Ideally, you’ll want a fenced-in area free of hazards, various water bowls, and some shaded spots for hot days.
Many dog park owners earn anywhere from $5 to $20 per dog, per hour. If you can attract a loyal following of dog owners, you could potentially earn several hundred dollars per week in passive income. It’s a great way to make some extra cash while providing a valuable service to your community’s pet owners.
8. Rent Out Your Vehicle
If you have a vehicle that is sitting idle for much of the day or week, you can rent it out on platforms like Turo or Getaround to people who need a temporary mode of transportation.
To rent out your vehicle, you’ll need to make sure it is in good condition and meets the platform’s requirements for age and mileage. You’ll also need to set a rental price and availability, and make sure you have the necessary insurance coverage.
Vehicle owners can earn anywhere from $30 to $100 per day in passive income. It’s a great way to make some extra cash from an asset that would otherwise be sitting unused, and it can even help offset the cost of owning and maintaining your vehicle.
9. Buy a Profitable Online Business
Buying a profitable online business is a smart way for social workers to earn passive income, but does require a bit of knowledge and startup capital. By purchasing an existing online business that generates consistent revenue, you can earn passive income without having to build a business from scratch.
A few examples of online businesses are eCommerce stores, Blogs, and YouTube channels. Platforms like Flippa and NicheInvestor are great places to invest in blogs that already generate revenue.
You should always do your due diligence before buying a business, and ideally have experience in that business’s operations and industry.
10. Start a Print on Demand Business
With a POD business, you can create and sell your own designs on products like t-shirts, mugs, and phone cases, without having to handle the manufacturing and shipping process yourself.
To start a POD business, you’ll need to choose a platform to sell your products, such as Redbubble or Teespring. Then, create your designs using graphic design software or streamline it with a tool like Vexels. Once your designs are complete, upload them to your chosen platform and start promoting them to your target audience.
Once you have a few dozen of designs, you should start seeing a few sales come in. With a massive portfolio of designs, you can kick back and start earning passive income from your merch shop.
11. Create Etsy Printables
Creating and selling printables on Etsy is another great way for social workers to earn passive income. Printables are digital files that customers can purchase and download, such as planner pages, wall art, and organizational templates.
To create printables, you’ll need to choose a niche that aligns with your skills and interests, and create designs that appeal to your target audience. Consider creating printables that other social workers might enjoy and relate to!
You can create your designs using graphic design software, or outsource to a freelancer if you don’t have design skills.
Etsy printable sellers can earn anywhere from a few hundred to a few thousand dollars per month in passive income. With the right marketing and branding strategy, you can build a loyal following and create a sustainable source of passive income.
Wrapping Up
By utilizing the strategies we’ve discussed in this article, such as blogging, creating courses, renting out spaces, and investing in real estate, you can start generating passive income as a social worker that can help you achieve financial freedom and make a positive impact in your community.
While each of these strategies requires some upfront work and investment, the potential for long-term income is significant. So why not take the first step today and start building your passive income streams?
