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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 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 highly competitive and tough. We are in 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 have to have the imagination and courage to escape the comfort zones of our whole 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 cash out of work once done but continues to yield earnings. 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 refers to the socio-economic system that is 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 crowd economy. It's a sustainable business model since it requires only the provision or production of products and services which are really needed and possess an existing demand.

Don't hesitate to try out any one of these if you prefer. They are:Passive Income Thought #1: Share a space or homeThe planet is getting smaller and smaller by the minute. Fifty years 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 very common to hear a tourist renting a home or room. Airbnb, as a matter of fact, assembled its own business model to cater to such 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 house that's ideal for large rooms, then 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 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 your carpool an amount enough to cover the extra gas needed and a little extra for one to keep.Learn how you can declutter your home to create that income-generating space by reading our blog post.Passive Income Idea #3: Unleash your inner Picasso and sell your own artDo you have artwork that is located in the back of your stock room Or a painting up on the wall untouched for years Why not market them The art community, while a relatively smaller niche, remains a niche! Create a copy of your artwork, have it reprinted and framed, and put it up available.

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As a result of recent events involving environmental issues and labor standards, some now choose to purchase second-hand or pre-loved products. In case you have clothing which are in good condition and are not being used, it's the perfect time to sell them. Do a garage sale or create 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 may be bought by different users for their own usage. Your target audience 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 go to these guys than a paper book.

It's surely 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 produce 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 types of material for their photograph manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a rather traditional idea, but it still works.