8 Passive Income Ideas You Can Start Even If You’re Broke

Feeling strapped for cash but eager to start building wealth? Luckily, it turns out you don’t actually need money to make money.

Sure, having some capital can give you a head start, but it’s not the only way to build wealth. 

Here are some savvy strategies to set up passive income streams that don’t require any upfront investment – just your time, creativity and a bit of elbow grease.

Affiliate marketing is all about earning commissions by promoting someone else’s products. Better yet, you can start for free by signing up for affiliate programs like Amazon Associates or ShareASale.

All you have to do is share your unique affiliate links on a blog, YouTube channel and/or social media platform. That way when someone buys through your link, you earn a nice little commission.

The secret sauce? Only promote products you genuinely love. Your authenticity will shine through and attract more clicks.

Creating a YouTube channel can be a fun way to make passive income without spending a single cent. Focus on content you’re passionate about and use your smartphone camera to get started.

As your channel grows, you can make money through ad revenue, sponsorships and affiliate marketing. Remember, consistency and engagement with your audience are key to building a following.

If you have expertise or a compelling story, consider writing an eBook. With platforms like Amazon Kindle Direct Publishing, you can publish your book at no cost and earn up to 70% royalties on sales.

The effort is front-loaded — once your book is written and published, it can provide a steady income stream without further investment.

Digital products are a broad category that includes everything from courses to design templates to stock photos.

If you have a skill or knowledge in a particular area, you can create a digital product once and sell it repeatedly, without any ongoing costs. Platforms like Etsy for creative goods or Teachable for online courses are great places to start.

If you have a knack for writing, consider creating content for blogs, websites or digital magazines. Many platforms and publications offer opportunities for writers to contribute articles on a variety of topics.

While it may start as a more active income stream, over time, as you build a portfolio or potentially earn royalties on your pieces, it can transition into a passive income source.

Building a strong presence on social media can open doors to passive income through sponsored posts, affiliate marketing and even creating your own branded merchandise.

Choose platforms where your target audience hangs out and start creating content that resonates with them. The more followers you have, the more earning potential you’ll have as well.

If you have an extra room or a property, consider listing it on platforms like Airbnb.

You might think, “But I need a property for this,” yet sometimes, you don’t need to own it. With the property owner’s permission, you can manage listings for them, creating an income stream without owning the space directly.

Many companies offer referral programs that pay you to bring in new customers or users. This could be anything from a new app to a banking service.

If you have a wide social circle or a platform to share these referrals, you can start earning without any upfront investment.

Starting a passive income stream without any money might seem challenging, but it’s entirely possible with the right approach and a bit of creativity.

These ideas are just the beginning. The key is to start with one that aligns with your interests or skills and build from there.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.