Whether you’re looking to make just a few bucks or enough money to completely replace your employment paycheck, these are all great ideas that you can put to work and build your passive income streams!
If you’ve never heard of the term “passive income”, then read on. Passive income can be thought of as money you earn passively, meaning that it only requires a little bit of effort on your part to earn that revenue. There will dozens of examples of this below:
Owning a rental house and collecting a monthly rental check
Owning a website and collecting monthly advertising revenue
Owing a dividend stock and collecting the dividend payments
I wasn’t necessarily sure if this was possible when I first heard about it. But then I started making my own websites and after two years was able to take in an extra five figures in annual income! Not bad for a part-time hobby!
So it doesn’t matter whether you’re looking to add $100 or $100,000 to your monthly income or have one to 40 hours a week to dedicate: You just have to try out a few of these ideas and see what will work for you. Trust me – you’ll be glad you did!