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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 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 tough. We're at 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 must be resourceful. We have to have the creativity and guts to get out of the comfort zones of the full time job and add 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 money from work once done but continues to yield profit. It's also known as residual income. It differs from a traditional business set up in the sense that the latter necessitates 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 can also be known as peer-to-peer transaction or audience economy. It's 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.

Feel free to try out any one of these if you like. Here they are:Exotic Income Thought #1: Share a room or homeThe planet is getting smaller and smaller by the minute. Fifty years back, it is an uncommon sight to see tourists flying outside for vacation and leisure. As a result of advancement in air navigation and the opening of cost-friendly airlines, more people can now afford to travel.

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Nowadays, it is 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 homes for rent. If you've got an empty and unused space, or even a vacation home that is perfect for large rooms, you may set them in the ads or enroll them in Airbnb, Booking, and Traveloka, among others.Passive Income Idea #2: Carpool into workMore and more people are becoming aware of the environmental consequences of the increased gas emissions by automobiles.

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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 pay for the excess gas needed and 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 is located at the rear of your stock room Or a painting up on the wall untouched for many years Why not market them The art community, while a relatively smaller niche, remains a niche! Make 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 issues and labor standards, some now prefer to purchase second-hand or pre-loved items. 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 make an online platform on EBay or even Quicksales where you can post images of clothing for sale.Passive Income Idea #5: Promote your photosIf photography is your hobby, then this may be the one for you.

The notion is capturing pictures that might be bought by different users for their own use. Your target audience here is basically everyone who is into design and advertising, that is a fairly large market.Passive Income Idea #6: Publish an e-book  In a recent analysis, find out 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 if you do not have the tools to print hardcopies.  Passive Income Thought #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 photos, designers and photo editors typically hunt for these kinds of substance for their photo manipulation needs.Passive Income Idea #8: Engage in peer to peer lending. This is a rather traditional idea, but it still works.

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