As debts gets higher than your salary, many of us turn to. passive or other external source of income. As we grow our needs grows as well, what if our salary doesn't?
Passive income streams can come from investing in mutual funds or real estate, selling products online, publishing online courses, or other side hustles in which the earner doesn't have to actively participate. The most popular form of passive income varies depending on a person's individual circumstances, interests, and skills. However, some common forms of passive income that are popular among people include:
Rental income: Earning money through renting out properties or real estate.
Dividend income: Earning money through stock ownership and receiving dividends from company profits.
Royalties: Earning money through creative work such as writing, music, or art, where you receive royalties for each sale or use of your work.
Interest income: Earning money through investments in bonds, certificates of deposit, or savings accounts.
Affiliate marketing: Earning a commission by promoting products or services through your blog, website, or social media channels.
It's worth noting that while passive income may require less active involvement than traditional forms of income, it usually involves significant upfront work and investment to set up. Additionally, it's important to do your research and carefully evaluate any potential passive income streams before investing time or money into them. Join effortsly.com as a freelancer to earn passive income.
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