Are you still feeling your monthly salary is not enough for the current living style in the country? You can try find second source of income by taking weekend part-time jobs, but does that solve your money shortage issue? Well the idea of passive income can give you the financial freedom you have always wanted.
Passive income is a way to make extra and consistent monthly income that comes in many types and forms. You can make these funds through renting your house, forex trading, network marketing, blogging and affiliates, and so on. In simple term of definition, passive income is a way of earning money with very little effort. All this mentioned options to creating wealth require a common task which is either a chunk of capital money or a lot of your hard working time. Money from these sources are usually taxable.
Tell me more about Passive income ideas
The following are the most popular income based options people take on through out the world.
Property – Over the years, reports and statistics have proven how the renting business is eventually over-ruling the home ownership idea in many countries. The main reason people rent as compared to buying and owning properties is because they don’t qualify, make enough to afford the house. If you qualified to buy a property either through banks or other financial institutions, you can make money from the house by renting it out. Basically the house will remain yours and tenants gives your a regular monthly income you have always wanted to change your lifestyle.
Online Platforms – There are many ways people are making money over the internet these days. You can sell that book you just wrote, blog about pretty much anything, sell stock photos, create video content on youtube and sell ads, and so on. Affiliate marketing has become the most popular used option world-wide. Basically you will partner with credible companies such as Google for their Adsense programme and other content driven affilliates for blogging.
Network Marketing / Multi-Level marketing – Companies such as Amway, Avon, AdvoCae, Tupperware and so, have seen a great deal of growth after more and more people started understanding the concept ot the business. You can build teams of enthusiastic individuals looking to better their lives, put them underneath you through an existing tracking system and which in the long run, as the team is also growing will give the joy of commission of life.
Start B Business – We all know that starting your own business is no child’s play, you are going to be required to put in a lot of effort. However that will not be for long, if you do it right at the beginning, it should pay you regular income each month without you even being once at the office. Some of the business ideas you may use are storage rentals, laundromat, flee markets, etc.
Please note, you are not limited to only the above mentioned passive income ideas, you can do more research to find out what works for you best. There are tons of ideas out there, I’m thinking of more ideas as i’m writing this article, you can do the same.