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10 Creative Ideas to Make Residual Income with NO Money

The notion that money brings in money is not entirely true. Multiplying your income does not require you to make a hefty investment, rather, you can easily proliferate your earnings by taking an astute approach to money management.

Employing an intelligent approach to money management can enable you to generate a larger sum of residual income. Residual income is a calculation that reveals the amount of money you have left remaining after your financial responsibilities have been paid off. For this reason, residual income is sometimes referred to as “disposable income”.

The terms residual income and passive income are often used interchangeably. However, there is a vast difference between the two. Passive income is the amount of money you bring in, without having a primary role in generating it. For instance, the money earned through stocks, dividends and real estate can be considered as passive income.

While passive income requires investments, residual income can be increased simply by creative thinking. Essentially, a high residual income does not only employ you with the liberty to live your best life, but it also reflects well on your mortgage and loan applications. When you apply for a loan, lending authorities examine your profile to calculate your residual income. If your residual income is high, you are considered as a reliable candidate, thus increasing your chances for approval.

Keeping that in mind, it is essential to start ruminating over different ways to expand your residual income. The key element is finding the things you are good at and making a profit off of them. Additionally, you can consider the ensuing ideas to increase your residual income, without making an investment.

Earn Advertisement Revenue on YouTube / Vimeo by creating content using Creative Commons Videos

Creative Commons licences are offered on YouTube and Vimeo, to encourage the community to reuse and edit the video content. With a Creative Commons license, the originality of the work is marked, therefore, if you desire to use the individual’s work, they would have to abide by the terms and conditions of the Creative Commons license.

However, to become eligible to use a Creative Commons licensed video, you must meet the standard criteria. Your content must abide by the regulations of the CC license and it should be free from any Content ID claim (copyright protected material). If you reuse a video without giving copyright credits, you may have to pay a serious penalty.

You can generate a residual income from this by reusing the videos uploaded under the CC license. Slightly alter the content, or reuse the same video, to earn revenue through advertisements. In order to monetise from YouTube, you need to meet the platform’s criteria. Some of these restrictions include having at least 10,000 views on your channel, having an AdSense account, and turning on the monetisation settings for your channel. Once the process is authorised, you can generate an income from running advertisements on your channel.

The criteria for the revenue generated by advertisements is 45:55, thus suggesting that Google retains 45% of the earnings, while you can keep the remaining 55%. The amount of money you generate depends on the number of times the advertisement is viewed. YouTube offers different advertising options, such as:

  • Display ads: You earn every time a user clicks on or view the ads
  • Overlay ads: This is a small ad that features on the bottom of the video. You can only earn through this if the user clicks on it.
  • Skippable video ads: These advertisements can be skipped by the user, after five seconds. However, you are only paid if the user watches the entire advertisement, or at least thirty seconds (if the duration is longer).
  • Non-skippable video ads: YouTube users are restricted from skipping these advertisements. Therefore, every time the user watches the complete ad, you can get paid.
  • Midroll ads: The midroll advertisements segregate longer videos. To make a profit, the user must watch the entire ad, or at least thirty seconds, depending on the duration.

On the other hand, if you are looking to monetise from Vimeo, you may not be able to generate an income through advertisements on videos. However, you can benefit from the tip jar (users can tip your content), along with Vimeo’s pay-to-view service.

Take great pictures and sell them as Stock Images

Your talent for taking outstanding pictures can help you generate residual income. If you are good at photography, you can earn a good amount of money by selling your work as Stock images. In order to achieve this objective, you must keep two factors in mind.

  • What type of images are in-demand?
  • Which platforms can you sell on?

What type of images are in-demand?

When you are selling photographs on the internet, you need to know who your audience is. When it comes to stock photos, the largest consumers include bloggers and medium-sized businesses. Stock photos are usually featured on the websites, blogs, and other pages, to break the continuity of the content. With the insertion of relevant images, the website becomes easy to look at. Considering this, you can take the following photos, which can be sold online.

Photos of people

Images of people are always in high demand. You do not need to stick to a certain demographic of people, rather, you can build a diverse portfolio by photographing individuals of different ages, culture, races and genders. However, if you are using people in your photos, it is essential to take their consent and inform them about your intentions of selling the image.

Work Images

The images of people working are always in high demand. You can add diversity by capturing images of people performing their jobs in different professions. For instance, you can take pictures of a teacher, construction worker, corporate office and lawyers.

Food Pictures

Food images aren’t just for Instagram anymore. If social media has trained you to take outstanding pictures of food, you can use this skill to earn money.


Landscapes, whether of cities or nature, are still widely popular in stock photos. If your niche is capturing striking images of a city or countryside, you can earn a decent amount.

However, while taking these pictures, it is essential to think outside the box, so your images would demand attention. Do not go for mediocrity, rather, you should strive for excellence and creativity.

Which platforms can you sell on?

After you have built a strong portfolio, you can sell your work on the ensuing platforms.

  • Create your own website on WordPress
  • Adobe Stock
  • Shutter Stock
  • Alamy
  • Fotomoto
  • Crestock
  • 500px
  • Snapped4u
  • PhotoShelter
  • TourPhotos

Create amazing Music and License it!

A career in performance arts, particularly in the creation of music, always comes with grave risk. However, if your passion for creating music is still ignited, you can use it to generate your residual income.

The internet has made it possible for you to sell your melody, without having to sign up with recording agencies. You can follow the three simple steps to generate income through music.

Step 1: Unleash your Creativity

Essentially, the first step to earning a residual income, through music, is allowing your creative talents to resurface. Your music does not have to be restricted to a certain genre, rather you can experiment with different styles until you find your niche.

Once your songs are composed, you can get them patented and sell them to music streaming platforms yourself, or you can further simplify the process by taking the subsequent step.

However, if you are choosing to self-promote, it is crucial to get your music licenced. This way, you can earn money every time your song is played.

Step 2: Collaborate with a music selling service

Working with a music selling service can make the process extremely convenient, once you have composed the song, you can upload it to a music publishing service, such as TuneCore. This platform would send your songs to online music stores, including Spotify, Apple Music, Amazon Music, iTunes, TikTok, YouTube and other platforms.  These services handle the copyrights and ensure that your songs are featured on popular online stores. With this approach, you can generate an income each time your song is streamed or downloaded. However, the amount of money varies from platform to platform.

With that said, digital musical publishing services do charge a fee. For instance, TuneCore has a one-time setup fee and it charges 15% commissions and 20% sync commissions.

Step 3: Promote your own music on social media platforms

Once your music is released to the world, it is up to you to brand yourself. Promote your songs by asking friends and family to share it with others, through their social media. Create fan pages on Facebook, Instagram, TikTok, and YouTube, and live record yourself playing the song. This will encourage you to interact with your fans, and understand their likes and dislikes. With the feedback, you can polish your art to generate more income in the future.

Rent out a Spare Room

If you have an extra bedroom in your house, you can simply increase your residual income. A spare bedroom would allow you to rent the living space to lodgers, who can be university students, renters and tourists.

The renting processes

The renting process falls in the hospitality industry. Hence, to instate the process, you are required to find lodgers, narrowing down your list of potential candidates, and create a hospitable environment for them to stay at. While renting your room, take the following tips into consideration.

  • Feature advertisements on online platforms (such as Spareroom.co.uk), newspapers and your own personal social media platforms.
  • Once you find a lodger, make sure to interview or at lease speak to them thoroughly, before making a decision.
  • If your room is furnished, keep an inventory list of items you have included in the room. This is to avoid potential theft.
  • You must also encourage your clients to sign a formal agreement that elicits the time duration for lending, the price, along with discussing the ground rules that they need to follow.
  • As per the regulations of the law, you must provide your lodger with kitchen and restroom facilities.

Benefit from the Government’s Rent a Room Scheme

The Rent a Room scheme is a policy which allows you to earn £7,500 per year, tax-free. However, if you share your income with a partner, this amount is decreased to half of its value. In order to become eligible for this scheme, you would need to have a furnished living space that also extends a bed and breakfast. Additionally, you must also be resident on the property that you have rented out. However, this scheme is not applicable for homes that are converted into flats.

With Rent a Room scheme, you can earn a yearly income of £7,500, free from tax. However, if you are able to earn more, you would have to complete a tax return. Following this, you can sign yourself up for the scheme on your tax return.

However, you also have the option of not opting for this scheme and declaring your income on the property pages of your tax return.

Rent out your car

Parallel to renting out a spare room, renting your car can help you expand your residual income. With the increasing reliance on smartphone applications, renting your car has become easier than ever. There are several Peer-to-Peer car renting services, which allow you to place your car on rent so that hirers, within your close proximity, can rent your vehicle with a single tap of the screen.

Renting your car can bring in a good amount of money. However, there are certain factors at play, which can influence the amount you earn on a monthly basis. The monetary worth of your car is influenced by the manufacturer/brand, the model, the year of manufacture, its mileage, as well as your location. A car with a relatively newer model, in a busy city, is more likely to bring in an increased amount of residual income.

If you list your car, to rent it out on a Peer-to-Peer car-renting network, you can easily earn money, without having to go through the torture of making an effort. Taking the example of Hiyacar’s platform, you can attract all hirers near you, in a few simple steps.

To list your car, you would have to provide specific details about your car to determine if it meets the eligibility criteria. Once your car is listed, you would start receiving rental requests via a text message, app notification, as well as through an email. The speed at which you respond to these requests can affect user experience.

Essentially, to hand over the keys, you can either integrate QuickSmart technology in your car, which allows the application to create virtual keys. However, you can also opt-out of this option and physically hand over the keys to the hirer. The car would be returned to you in a similar fashion.

In Peer-to-Peer car-renting networks, the mutual responsibility of leaving a review is assigned to the owner, as well as the hirer. Therefore, it is essential to make sure that your car is in its optimal condition. Essentially, once the renting process is completed, you will earn your rental automatically.

Rent your parking space

Having a garage, or just space in your driveway can become your own personal treasury. Now, you can make an extra £1,539 per year, by leasing out your garage through a Peer-to-Peer parking sharing application.

Renting out a parking space can bring in variable income, depending on your location. For instance, if you live near a train station or a hospital, you can earn significantly more, in contrast to residing in areas which are not as densely populated. Additionally, your income can also depend on your city. For instance, renting a parking space is most expensive in Sheffield and the least expensive in Edinburgh.

Additionally, there are various platforms, at which you can rent your parking space. The charges, commission rate, the least amount to withdraw may vary. You can comprehensively research the ensuing platforms to choose the one that suits your needs. Some of the most popular pairing renting platforms are enumerated below.

Your Parking Space

Your Parking Space is one of the most ideal renting platforms, which enables you to rent out a parking space, as it does not charge you any fee. Essentially, the platform makes its money by charging the renter 20%, in addition to your renting charges.

Park On My Drive

Park On My Drive requires a yearly £20 fee, which is only charged if a booking is made. Additionally, if you rent your parking space on Park On My Drive, you can upload pictures of your parking space and receive a payment after the process is completed.


Gumtree enables you to list parking spaces via advertisements on the website. The website has different charges for placing an ad. You can research the rates prior to posting an ad.

Rent your attic as a Storage Facility

If you have learned anything from hoarding TV shows, it is that people have more things that they need. This clutter compels people to search for storage facilities, which enable them to keep their personal items in a safe place.

If you have an attic, you can rent it out as a storage facility. You can clean the area and make sure that the space is free from your personal belongings.  To add to the safety of your renter, you can add state-of-the-art locks to ensure that the space remains secure and theft-free. Once your attic is move-in ready, you can rent it on online platforms, such as stashbee.com.

With this website, you can rent out your attic space to function as a storage facility. To have your space approved, you must provide relevant details to the website, such as your location, photos of the space, as well as the dimensions of the facility. Based on this, the approximate price for renting can be determined.

The renting process on these platforms is quite simple. You can list your renting space, free of cost. Once your space is visible for the users, they can send in requests, once they have been verified by the application. Essentially, once the attic space is booked and rented, you can receive automated, cashless payments.

Rent your personal equipment

Renting your unused items is the finest way to generate some residual income. If you are not using personal equipment, such as a camera, you can lease it online, in exchange for a small fee. You charge the renter on the basis of the equipment’s value, along with the number of days you are renting it.

However, if you are renting your expensive, yet less frequently used items, you must carry out the exchange on a reliable platform. For instance, Fat Lama is one such platform, which enables you to buy, sell and rent items to strangers online. As the website includes a policy that covers up to £25,000 worth of damages, the safety of your personal property will be guaranteed.

What items can you rent out?

The key to renting out your personal belongings is understanding your own frequency of use. If you have an item that was a huge investment, yet is not used by you, you can rent it out to someone who needs it urgently. If you are unsure about the type of equipment you need to rent out, get inspired from the ensuing list.

  • Cameras
  • Camera equipment
  • AV equipment
  • DJ equipment
  • Drones
  • Projectors
  • Speakers and sound systems
  • Musical instruments
  • Bikes
  • Camping equipment
  • Tents & Marquees
  • VW campervans
  • Ladders
  • Cement Mixtures
  • Construction tools
  • Motor homes

Write an eBook

Writing an eBook is a way to leave your legacy behind. With a published book, the things you have to say will still hold value, even after your death. However, writing an eBook is more than just leaving your mark on the world. In fact, writing, publishing and selling your eBook is a sure-fire way to generate a residual income.

In order to generate money from an eBook, it is essential to write on a topic that is not controversial, yet popular. You need to express your opinion, based on facts, on subject matters that are in-demand. Your purpose should be to educate the audience and enlighten them with updated knowledge. To discover your topic, you must explore some of the bestselling eBooks online. You can further study the reviews to see the negative remarks, and choose to fulfil this gap through your own writing.

Once your book is written, you can publish it on your own website, or on other online platforms which feature eBooks. Some of the most popular eBook selling platforms are Amazon’s Kindle Store, Google Play Books, Barnes & Noble’s Nook Store, and Apple’s iBook store.

Once you have decided the platform, you can set a date for publishing on the desired platform. For instance, if you have chosen Amazon Kindle, you would need to create an Amazon’s Kindle Direct Publishing (KDP) account. Once this account is set up, and your book is thoroughly edited, you can set a date of publication. Subsequent to the book launch, you can heavily promote your book on various social media platforms.

Earn Cashback from your Purchases

Your residual income can rise with cashback purchasing. Cashback applications and cards allow you to collect reward points on your purchases. This system is quite similar to that of couponing; however, cashback reward points are generated after you make the purchase.

Cashback purchasing is available in many forms. Download different applications that facilitate this process. In addition to this, you can also sign up to receive a cashback credit card to earn reward points, which could hold a high monetary value.

Cashback credit cards

With cashback credit cards, you can earn £100s’ worth of rewards. However, when using cashback credit cards, it is imperative to only make regular, everyday purchases. If you spend extra, with the intention of earning more points, you can end up with debt and potentially losing money if you have to pay interest on it.

Additionally, in order to actually benefit from these cards, you must set up a direct debit to monthly repay the full amount. It is further important to consider whether the reward points hold specific value for your individual needs. If the reward is not worth the cost, you can consider another rewards scheme.

Cashback Apps

If you are not comfortable with managing money using credit cards, you can choose to install cashback applications to earn rewards. Some of the generic applications can be used in a variety of supermarkets across the country. You can examine the following cashback applications, to assess if they hold any value for you:

  • TopCashback
  • MySupermarket
  • ClickSnap
  • Checkout Smart
  • Shopmium

With cashback purchases, you can reduce your total of essential monthly spending, which would allow you to increase your residual income.


There are a number of ways to make residual income. The question is which one would you choose from the list above?

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