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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 have you well on your way to achieving your financial goals and much closer to true financial freedom.

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

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The world we are living in today is highly competitive and tough. We are at a time when nine-to-five tasks are sometimes not sufficient to finance our basic needs, more so our wants. To ensure our financial stability, we have to be resourceful. We must have the imagination and courage to get out of the comfort zones of our full time occupation and put in something new to the table.

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 money from work once done but continues to yield profit. It's 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 simply 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 have an existing demand.

Don't hesitate 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 decades 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.

Nowadays, it is pretty common to hear a tourist renting a house or room. Airbnb, as a matter of fact, built 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've got an empty and unused space, or even a vacation home that's ideal for large rooms, you might put them in the advertisements or enroll them in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool to workMore and more people are becoming aware of the environmental consequences of the increased gas emissions by cars.

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 with your carpool an amount enough to cover the extra gas needed and also a bit extra for one to keep.Learn the way you can declutter your home to create that income-generating distance by reading our website post.Passive Income Idea #3: Unleash your inner Picasso and market your artDo you have artwork that lies at the back of your inventory room Or a painting up on the wall untouched for many years Why not sell them The art community, while a look at these guys comparatively smaller niche, is still a niche! Make a copy of your art, have it reprinted and framed, and put it up for sale.

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As a result of recent events involving environmental problems and labour standards, some now prefer to buy second-hand or pre-loved products. In case you have clothing which are in good condition and therefore 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 might be the one for you.

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

It's definitely an advantage for you in the event that you do not have the tools to print hardcopies.  Passive Income Idea #7: Design images, backgrounds, fontsAnother way to earn money is to create generic images, backgrounds, and fonts, which different brands or persons can purchase for more editing. Comparable to stock photographs, designers and photo editors typically hunt for these types of material for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a somewhat traditional notion, but it still functions.