As the cost of living rises and rises but wages remain pretty stagnant, there are so many of us looking to earn passive income in the UK. Money poor, time poor…. does that sounds familiar? Obviously there are lots of different ways to make money but in my opinion nothing beats income that is earned without lifting a finger.
I signed up for two passive income programmes – Honeygain and Gener8 Ads – two weeks ago. These run in the background of your computer/phone and claim to earn you money or tokens that can be exchanged for goods and gift cards. Some of the earnings claims they make are quite bold, so I thought I would write a post detailing how I am getting on with them after a fortnight of usage. I will definitely be updating this post in the long term to update you all on my earnings.
Honeygain is available as an app on your phone and also on your Mac or PC. Follow this link to sign up to kick things off with a $5 (USD) bonus. How it works is that it is an application which runs in the background of your phone/computer and makes your device a gateway – essentially, it uses some of your unused data. It launches when your phone boots up or your computer is turned on so you are unaware of anything happening, so after you have signed up, it truly is passive income.
Honeygain claim to pay up to $50 a month but personally I think this is over optimistic. I tend to have my PC on for around 10 hours most days (which is a lot more than the average person, but remember, I work from home) and have found that in the two weeks I have had the app on my PC I have accrued around the equivalent of $0.50 a day (you earn $0.01 – 10 credits – for every 100MB of data that you share). This works out at $15 a month or $180 over the course of the year which isn’t too bad in my opinion for literally no effort. I can’t quite figure out how a person could earn $50 a month, though!
Once you reach the minimum payout of $20 USD you can request your earnings via Paypal.
Gener8 Ads isn’t an app, it’s actually a browser add on (available for Chrome and Firefox) – there is also a Gener8 Tabs browser add on, I have both installed.
Both add ons work by generating tokens. The Ads add on works by replacing banner ads (the ones that you see on the sides of websites) with Gener8‘s own advertising that has been tailored to you based on the preferences that you complete in your profile. However, at the time of writing they aren’t actually showing ads, they are showing images of pugs and other cute animals. So instead of seeing annoying adverts you see cute pugs and earn tokens whilst doing so… sounds good to me! If there is a more lovely way to earn passive income in the UK, I’m yet to discover it.
If you sign up via this link you get a welcome boost of 10 extra tokens which gets you off to a great start. Once you have signed up and started to earn tokens, you can spend them in the marketplace. Anyone can spend their tokens on charitable donations but once you invite 2 friends you can then gain access to more items, like Amazon vouchers and physical products. The reason why they want you to get two new users to sign up is so they can quickly grow their user base and then start working with advertising partners. Obviously it will be great for their business but I will miss my daily dose of pug!
To give you a quick idea of how much tokens are worth, 50 tokens gets you a £5 Amazon gift card. I am up to 60 tokens after two weeks but I just realised that I hadn’t yet filled in my ‘preferences’ which I believe has limited how many tokens I’ve been able to earn. I have fixed that now and will update how I am getting on when it comes to earning tokens soon.
Am I going to become a millionaire by letting these two programmes run in the background? No. But then again, both of them require zero effort from me and a rough calculation tells me that over the course of the year I should earn the equivalent of £300 or so by just letting them run in the background as I go about my daily work. Not bad, and would go some way towards paying for Christmas. If you are a casual computer user – say someone who logs on a few times a week to send emails or play a game – your earnings are going to be a lot less. But given that the only part that involves any effort is the sign up process, I would still definitely go for it.
Please let me know if you have any other ideas about earning passive income in the UK, a few little passive income streams here and there add up over the year so I would love to have more on the go!