3 Passive Incomes You Can Start Now
Post By: Admin / USA Frugal Club
It’s easy to think of passive income as money earned while sitting on a bench drinking mojito, but there is a lot of work involved. However, passive income is great for rainy days and during the recession. Finding the right opportunity to tap into and make passive income out of it is not easy. That is why we have listed 3 ways to make passive income. These are easy to do, and you can get started right now.
1. Rental Income
One of the easiest ways to make passive income is to rent out your unoccupied property. This might seem risky as tenants often dodge payments if your property is not close-by. However, have faith that your real estate investment will provide positive results. These businesses will take the responsibility of finding tenants and even collect payment on your behalf. All you have to do is give them a small percentage of it. It’s an easier solution compared to getting in trouble for rent collection.
2. Become A Passive Writer
If you have a flair for writing but are stuck at the wrong job, you don’t have to stress yourself. Write in your free time and upload your work on multiple websites where you can generate passive income through monetization. The best example of such sites is Medium.com. It is a place where writers worldwide post their content and get paid if a member reads them. Some people make between $500 to $2,000 a month from Medium. The best part about these websites is that you can upload your work and keep earning from it over time.
3. Launch Your Online Course
Everyone is good at something. Regardless of your skillset, there are always people willing to learn what you have to offer. If you are a successful salesman, make an online lesson on how to get clients or sales tactics 101. Run social media ads on your course and sell your lessons at your price. The best part about this passive income is that you only have to take your courses once. Each time there will be a new buyer who will find your course appealing.
How Many Sources Of Income Should You Have?
There is no one-size-fits-all advice for income streams. It depends on your current financial situation and your financial goals for the future. However, having more than two income streams keeps you on the safe side of the economy. When you start making passive income, other income streams will automatically present themselves. It’s all about getting started, and then things start to shape up themselves.