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Earning money while you’re sleeping is incredibly appealing!
Passive income can be earned automatically with little to no work to continue making money.
What is the difference between Active and Passive Income?
Active income is money earned in exchange for time or service performed such as hourly wages, salary, commissions, or services.
Take stock of what you have available to you in terms of time and money to invest. Look at what skills or resources you have to offer. Make a list and jump in.
Having knowledge or skills about a specific topic, sites like Udemy or Skillshare make it incredibly easy to create, host, and sell your knowledge.
Enjoy making video content? Consider starting a youtube channel. You can earn passive money via video display ads once you meet the threshold of viewers and watch time.
If you have a home or even just a room in your home, you can list your space available for rent on Airbnb.
Rental properties are a great way to build passive income. While managing a rental property isn’t entirely passive, you might want to hire a property manager.
Etsy, Shopify, and WooCommerce have made it easy to start your own small online business.
Passive income is a great way to diversify your income. While there is some upfront investment to be made, you can have a viable way to build extra wealth!