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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 it all 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 extremely competitive and tough. We are 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 have to be resourceful. We must have the creativity and courage to get out of the comfort zones of our full time job and add something new into the table.

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 out of work once done but continues to yield profit. It's also known as residual income. It differs from a traditional business setup in the sense that the latter necessitates continuous and meticulous supervision and management in any way times.

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It only refers to the socio-economic system that's rooted in the idea of sharing be it material assets or intellectual ones. The sharing economy can also be known as peer-to-peer transaction or audience economy. It is a sustainable business model since it requires only the provision or production of goods and services which are actually needed and possess an existing demand.

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

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Nowadays, it is very 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 would be 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, then you may set them in the ads or enroll in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool into workMore and more individuals are becoming aware of the environmental impacts of the increased gas emissions by cars.

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You can help themwhile earning on the negative, 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 cover the extra gas needed and also a little extra for you to keep.Learn how you can declutter your house to make that income-generating space by reading our website post.Passive Income Idea #3: Unleash your inner Picasso and sell your artDo you have artwork that lies in the rear of your inventory room Or a painting up on the wall untouched for years Why not market them with the art community, while a relatively smaller niche, is still a niche! Create a copy of your artwork, have it reprinted and framed, and set 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. If you have clothing that are in good condition and are not being used, it's the best time to sell them. Do a garage sale or make an online platform on EBay or even Quicksales where you can find images 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 which may be bought by different users to their own usage. Your target market here is basically 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 mentioned Australian adolescents are more inclined to read an e-book than a paper book.

It's surely an advantage for you if you do not have the resources to publish hardcopies.  Passive Income Idea #7: Design graphics, backgrounds, fontsAnother way to earn money is to create internet generic pictures, backgrounds, and fonts, which different brands or persons can purchase for further editing. Comparable to stock photographs, designers and photo editors usually search for these kinds of material for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a somewhat traditional notion, but it still works.

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