Many years ago when I was in college, a friend of mine made a bet with me that he would never shave again. The bet was, if I remember it right, about $1.66 or $1.76. I don't quite remember, but that is what he owed me for spotting him when we were out to eat, and he only had a $10, and I covered the rest. The details are sketchy, but the bottom line was I told him that he could pay be back, or he could never shave again. He said "In that case I choose to never shave again." At the time I regarded this as a joke, and I think it was at first, but then, after a few weeks, it became obvious that he was planning to take me up on it.
And to the best of my knowledge he did. I lost track of him, but would occasionally bump into him, and his beard was always longer, fuller, and more outrageous.
So thats how you can make money by not shaving. Or, in his case, how you can save yourself some change when you go out to eat.
There is no reason this can't be taken to another level. For example, you could bet two people that you would never shave again. Get one dollar from them, and promise to send it back if you ever shave. Most people, if they are friends with you, will not really mind giving up a dollar on a bet like this. All you have to do is not shave, which is actually easier than shaving, so its win-win for you. Now, to take it to a much deeper level, there is no reason you couldn't broaden this into a world-wide internet phenomenon. Just post a series of youtube videos in which you explain what you are doing, set up a paypal account, and let people donate money to you for not shaving. I imagine that this could accumulate one million people relatively quickly, since its the internet. Once you have the money in hand, just shut down your youtube account and shave whenever you want to.
You could probably do a variety of things. Shaving is just one idea.