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Launching a negative 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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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're at a time when nine-to-five tasks are not sufficient to finance our basic needs, more so our wants. To ensure our financial stability, we must be resourceful. We must have the imagination and guts to escape the comfort zones of our full time occupation 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 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 only describes the socio-economic system that's 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's a sustainable business model since it requires only the provision or production of products and services that are actually needed and have an existing demand.

Feel free to try out any one of them if you prefer. They are:Passive Income Idea #1: Share a room or homeThe planet is getting smaller and smaller by the minute. Fifty decades back, it's an uncommon sight to see tourists flying out for vacation and leisure. As a result of advancement in air navigation and also the opening of cost-friendly airlines, more people can now afford to travel.

Nowadays, it's 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. If you have an empty and unused room, or a vacation house that's ideal for large rooms, you might set them in the ads 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 themwhile 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 pay for the extra gas needed and also a little extra for one to keep.Learn how you can declutter your house to make that income-generating distance by reading our blog post.Passive Income Idea #3: Unleash your inner Picasso and market your artDo you have artwork that is located at the back of your inventory room Or a painting up on the wall untouched for years Why not sell them The art community, while a relatively smaller niche, check these guys out is still a niche! Create a copy of your art, have it reprinted and framed, and set it up available.

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Due to recent events involving environmental issues and labour standards, some now choose to buy second-hand or pre-loved products. 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: 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 to their own usage. Your target audience here is basically everyone who's into design and advertising, that is a pretty large market.Passive Income Idea #6: Publish an e-book  In a recent analysis, Murdoch University Australias Margaret Merga mentioned that Australian adolescents are more inclined to read an e-book than a paper publication.

It is definitely an advantage for you in the event that you do not have the tools to print hardcopies.  Passive Income Thought #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 further editing. Comparable to stock photos, designers and photo editors typically hunt for these types of substance for their photograph manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a somewhat traditional idea, but it still functions.