What is your idea about passive income? For most people, passive income provides an opportunity for freedom and independence. It gives an escape from our 9-5 jobs that occupy most of our week.
There are different ways to generate income while you are “sleeping”, here are just some of them:
START A BLOG
If playing with words comes naturally to you, you may find passion in writing. Establishing your own blog is quick and easy to do. Simply purchase your own domain or create your own website at no-cost thru website builders such as Wix.
Equipped with your glistening blog, you can either sell your stuff or share your expertise to earn some legitimate cash on the side.
CONSIDER P2P LENDING
Let’s face it! Banks do not lend money out of sheer kindness. They do it because it is profitable. Get a taste of the action by joining P2P websites, which allow companies from around the world to loan money from private people.
P2P Lending is highly attractive to both the borrowers and the lenders. Firstly, P2P Lending loan qualifications are more relaxed than that of given by the banks. On the flip-side, lenders can reap the benefits of up to 20% per annum.
INVEST YOUR MONEY
If you have money to spare, consider investing your funds to grow your nest. Let the company work for you as you receive dividends from them. Directly owning a stock in a company or through a fund enables you to receive dividends. A dividend is a cut of a portion from a company’s profits.
The amount of money you receive depends on how much stock you own and how much profit there is to divide. Ultimately, the rewards that you will receive are decided by the board of directors. Do prior research before committing to a company.