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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 everything worthwhile. The money you earn from passive income will undoubtedly have 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 extremely competitive and demanding. We're at a time when nine-to-five jobs are sometimes not sufficient to finance our fundamental needs, more so our wants. To ensure our financial stability, we have to be resourceful. We must have the creativity and courage to escape the comfort zones of the whole time job and put in something new to the table.

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

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It only refers to the socio-economic system that's rooted in the idea of sharing be it material assets or intellectual ones. The sharing economy is also known as peer-to-peer transaction or crowd 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.

Feel free to try any one of these if you like. They are:Exotic Income Idea #1: Share a space or homeThe planet is getting smaller and smaller by the minute. Fifty years ago, it is an uncommon sight to see tourists flying outside for vacation and leisure. As a result of advancement in air navigation and the opening of cost-friendly airlines, more people can now afford to travel.

Nowadays, it is pretty common to hear a tourist renting a home or room. Airbnb, as a matter of fact, built its own business model to cater to these needs. One way to earn residual income is to open your homes for rent. In case you have an empty and unused room, or even a vacation home that is ideal for large rooms, then you might put them in the advertisements or enroll in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool to workMore and more individuals are becoming conscious of the environmental consequences of the increased gas emissions by automobiles.

You can assist them, while earning on the side, by giving them a ride to work. You can charge a minimal fee to encourage them to join with your carpool an amount enough to pay for the extra gas needed and also a little extra for you to keep.Learn how you can declutter your home to make that income-generating space by reading our blog post.Passive Income Idea #3: Unleash your inner Picasso and market your own artDo you have art that is located in the back of your stock room Or a painting up on the wall untouched for many years Why not market them with the art community, while a comparatively smaller niche, is still a niche! Make a copy of your artwork, have it reprinted and framed, and set it up for sale.

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As a result of recent events involving environmental issues and labor standards, some now prefer to purchase second-hand or pre-loved products. In case you have clothes that are in good condition and are not being used, it's the best time to sell them. Do a garage sale or make an online platform on EBay or even Quicksales where you can post pictures of clothing for sale.Passive Income Idea #5: Sell your photosIf photography is your hobby, then this might be the one for you.

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

It's surely an advantage for you if you do not have the tools to publish hardcopies.  Passive Income Thought #7: Design graphics, backgrounds, fontsAnother way to earn money is to produce generic images, backgrounds, and fonts, which his response different brands or persons can purchase for more editing. Similar to stock photographs, designers and photo editors typically hunt for these kinds of substance for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer reviewed lending. This is a somewhat traditional idea, but it still functions.