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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 that you earn from passive income will undoubtedly have you well on your way to achieving your financial objectives 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 demanding. We are in a time when nine-to-five jobs are not sufficient to finance our fundamental needs, more so our wants. To ensure our financial stability, we have to be resourceful. We have to have the creativity and guts to escape the comfort zones of the whole time occupation and put in something new to 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 from work once done but continues to yield profit. It is 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 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 is also known as peer-to-peer transaction or crowd economy. It is a sustainable business model since it needs 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 them if you like. They are:Passive Income Idea #1: Share a space or homeThe planet is getting smaller and smaller by the minute. Fifty years ago, it's an uncommon sight to see tourists flying outside 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, assembled its own business model to cater to such needs. One way to earn residual income would be to open your houses for rent. If you've got an empty and unused room, or a vacation house that is perfect for large rooms, then you might set them in the ads or enroll them in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool into workMore and more individuals are becoming aware of the environmental consequences of the increased gas emissions by cars.

You can help themwhile earning on the side, you can find out more 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 excess gas needed and also a bit extra for you to keep.Learn the way 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 art that lies at the rear of your inventory room Or a painting up on the wall untouched for years Why not market them The art community, while a comparatively smaller niche, is still a niche! Make 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 problems and labour standards, some now choose to purchase second-hand or pre-loved products. In case you have clothing 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 even Quicksales where you can find images of clothes for sale.Passive Income Idea #5: Promote your photosIf photography is your hobby, then this might be the one for you.

The idea is capturing pictures which might be purchased by different users to their own use. Your target market here is essentially everyone who's into design and advertising, that is a fairly 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 surely an advantage for you in the event that you do not have the tools to publish hardcopies.  Passive Income Idea #7: Design images, backgrounds, fontsAnother way to earn money is to produce generic images, backgrounds, and fonts, which different brands or persons can purchase for further editing. Comparable to stock photographs, designers and photo editors usually hunt 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 notion, but it still functions.