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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 objectives 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 live in today is extremely aggressive and tough. We're at a time when nine-to-five jobs are not sufficient to finance our fundamental needs, more so our wants. To ensure our financial stability, we must be resourceful. We have to have the creativity and guts to get out of the comfort zones of the whole time job and put in 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 refers to the inflow of cash out of work once done but continues to yield earnings. It's also known as residual income. It differs from a traditional business set up in the sense that the latter requires continuous and meticulous supervision and management at all times.

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

Feel free to try out any one of these if you prefer. They are:Passive Income Idea #1: Share a space or homeThe planet is getting smaller and smaller by the minute. Fifty decades ago, it's a rare sight to see tourists flying out for vacation and leisure. Due to the advancement in air navigation and also 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 such needs. One way to earn residual income is to open your homes for rent. If you have an empty and unused room, or a vacation house that is perfect for large rooms, you may put them in the advertisements or enroll in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool into workMore and more individuals are becoming conscious of the environmental consequences of the increased gas emissions by automobiles.

You can help themwhile 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 you to keep.Learn the way 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 artDo you have art that is located at the rear of your stock room Or a painting up on the wall untouched for years Why not market them The art community, while a comparatively smaller niche, remains a niche! Make a copy of your art, have it reprinted and framed, and set it up for sale.

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As a result of recent events involving environmental problems and labor standards, some now prefer to buy second-hand or pre-loved items. In case you have clothing which are in good condition and therefore are not being properly 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 clothes 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 may be bought by different users for their own usage. 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 book.

It is definitely an advantage for you in the event that you do not have the tools to print hardcopies.  Passive Income Idea #7: Design graphics, 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 usually search for these kinds of substance for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This next is a somewhat traditional notion, but it still works.