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Launching a side business or figuring out how to invest your money when youre strapped for time isnt easy, but the payoff makes it all worthwhile. The money you earn from passive income will undoubtedly get you well on your way to achieving your financial goals and much closer to true financial freedom.

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Resources: Reit.com Investopedia Dividend.com Well Kept Wallet Money Done Right The College Investor

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The world we live in today is highly aggressive and demanding. We're at a time when nine-to-five jobs are not sufficient to finance our basic needs, more so our wants. To ensure our financial stability, we must be resourceful. We have to have the imagination and guts to escape the comfort zones of the full time job and add something new to the table.

All these are guaranteed low-risk business ideas that can help you pump up your bank account.What is Passive IncomePassive income denotes the inflow of cash out of work once done but continues to yield earnings. It is also known as residual income. It differs from a traditional business set up in the sense that the latter necessitates continuous and meticulous supervision and management at all times.

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It only describes the socio-economic system that is rooted in the idea of sharing be it material resources or intellectual ones. The sharing economy is also known as peer-to-peer transaction or audience economy. It is a sustainable business model since it requires only the provision or production of goods and services that are actually needed and possess an existing demand.

Don't hesitate to try out any one of them if you like. Here they are:Passive Income Idea #1: Share a space or homeThe world is getting smaller and smaller by the minute. Fifty years ago, it is a rare sight to see tourists flying out for vacation and leisure. Due to the advancement in air navigation and the opening of cost-friendly airlines, more people can now afford to travel.

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Nowadays, it's pretty common to hear a tourist renting a house or room. Airbnb, as a matter of fact, assembled its own business model to cater to these needs. One way to earn residual income would be to open your homes for rent. If you have an empty and unused space, or even a vacation home that's ideal for large rooms, you may set them in the ads or enroll them in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool into workMore and more people are becoming conscious of the environmental consequences of the increased gas emissions by cars.

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You can help them, while earning on the negative, by giving them a ride to work. You can charge a minimal fee to encourage them to join your carpool an amount enough to cover the excess gas needed and a little extra for you to keep.Learn how you can declutter your home to create that income-generating distance by reading our blog post.Passive Income Idea #3: Unleash your inner Picasso and market your artDo you have art that is located at the rear additional info of your stock room Or a painting up on the wall untouched for years Why not market them with the art community, while a comparatively smaller niche, remains a niche! Create a copy of your artwork, have it reprinted and framed, and put it up for sale.

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Due to recent events involving environmental issues and labor standards, some now choose to purchase second-hand or pre-loved items. In case you have clothes that are in good condition and are not being properly used, it is the perfect time to sell them. Do a garage sale or create an online platform on EBay or Quicksales where you can post pictures of clothing for sale.Passive Income Idea #5: Promote your photosIf photography is your hobby, then this may be the one for you.

The notion is capturing pictures which might be purchased by different users to their own use. Your target audience here is essentially everyone who's into design and advertising, that is a fairly large market.Passive Income Idea #6: Publish an e-book  In a recent analysis, Murdoch University Australias Margaret Merga mentioned Australian adolescents are more inclined to read an e-book than a paper publication.

It's definitely an advantage for you if you do not have the tools to print hardcopies.  Passive Income Thought #7: Design graphics, backgrounds, fontsAnother way to earn money is to produce generic pictures, backgrounds, and fonts, which different brands or persons can purchase for more editing. Comparable to stock photos, designers and photo editors usually hunt for these kinds of material for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer reviewed lending. This is a somewhat traditional notion, but it still works.

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