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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 that you earn from passive income will undoubtedly get you well on your way to achieving your financial goals and that 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 in a time when nine-to-five jobs 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 creativity and guts to get out of the comfort zones of the full time job 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 denotes the inflow of money from 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 at all times.

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It simply refers to the socio-economic system that's rooted in the notion 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 needs only the provision or production of goods and services that are actually needed and possess an existing demand.

Feel free to try any one of them if you like. Here they are:Exotic Income Idea #1: Share a space or homeThe planet is getting smaller and smaller by the minute. Fifty decades back, it is an uncommon 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's 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 houses for rent. In case you have an empty and unused room, or a vacation home that's ideal for large rooms, you may put them in the advertisements or enroll in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool to workMore and more people are becoming aware of the environmental impacts of the increased gas emissions by automobiles.

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 with your carpool an amount enough to pay for the extra gas needed and also a bit extra for you 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 own artDo you have artwork that is located in the rear of your stock room Or a painting up on the wall untouched for years Why not sell 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 for sale.

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Due to recent events involving environmental problems and labour standards, some now choose to purchase second-hand or pre-loved products. In case you have clothes 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 make an online platform on EBay or Quicksales where you can find 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 purchased by different users for their own usage. Your target market here is essentially everyone who's into design and advertising, which is a fairly big market.Passive Income Idea #6: Publish an e-book  In a recent analysis, Murdoch University Australias Margaret Merga discussed that 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 Find Out More you do not have the resources to publish 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 further editing. Comparable to stock photos, designers and photo editors typically search for these types of substance for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a somewhat traditional idea, but it still works.