15 Ways to Make Money With Your Home – Passive Income Article

According to data from the Federal Reserve, consumers ended 2021 with debt totaling a staggering $15.6 trillion. In the fourth quarter alone this was a year-over-year jump of $333 billion. In addition to the biggest quarterly gain since 2007, the largest annual gain was recorded going back to 2003.

What was the largest debt-load increase? Well, it should come as no surprise that this comes from mortgages — which comprised 87% of consumer debt. By the end of 2021, balances skyrocketed by nearly $11 trillion, including $890 billion in the fourth quarter. Originations of mortgages reached a record high of more than $4.5 trillion for the year as well.

Since a majority of people in the U.S. own a home, 65.5% to be exact as of April 2022, this can be a huge financial burden. And, this is particularly true if you’re struggling to make ends meet or are short on cash because you had to cover an emergency.

The good news? You can actually make money with your home. In most cases, this can be a passive income, meaning that you don’t have to put in too much time, energy, or money. And, you can then use this extra income to pay down your debt or cover expenses like property taxes, utilities, or…