And the best part, you have not worked hard to earn that $2000. That's called a passive income.
In other words, an income that is earned without putting active efforts or with a little effort is called passive income.
A very simple example is rental income on a property. You just buy a property once and get a tenant. You will have a monthly income as rent from that property. You are not actively working to generate that income.
You must be thinking, it is not that easy to buy a property at skyrocketing prices of homes.
That's true, you need to invest a lot of money to generate that kind of income. But my point is, there are a lot more ways to make that passive income without investing a ton of money.
Let's take a closer look at how
1. Start a blog
2. Affiliate marketing
3. Start an Etsy shop
4. Create online courses
5. Buy dividend stocks
6. Invest in REITs
7. Open a high-interest saving account
8. Payoff your high-interest debt
9. Start a Youtube channel
10. Rent your spare room at Airbnb
11. Write an ebook and sell on Kindle
12. Develop a mobile app
13. Sell your stuff on the internet
14. Credit card cashback and rewards
15. Doing an online survey
16. Sell your photographs
17. Invest in Index funds
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