Passive income can be a great way to help you generate extra cash flow, whether you’re running a side hustle or just trying to get a little extra dough each month, especially as inflation rages throughout the economy. Passive income can help you earn more during the good times and tide you over if you suddenly become unemployed, if you voluntarily take time away from work or if inflation keeps chipping away at your purchasing power.
With passive income, you can have money coming in even as you pursue your primary job, or if you’re able to build up a solid stream of passive income, you might want to kick back a little. Either way, a passive income gives you extra security.
And if you’re worried about being able to save enough of your earnings to meet your retirement goals, building wealth through passive income is a strategy that might appeal to you, too.
1. Sell an online course
2. Rent out your car
3. Sell an e-book
4. Sell an online course
5. Start a Youtube channel
6. Start a Podcast
7. Create an app
8. Put adds on your car
9. Rent out useful household items
10. Sell products on Amazon or eBay
11. Open a drop-shipping store
12. Run subscription service
13. Sell stock photos
14. Sell designs online
15. Rent out your home or a room you don't use for short-term
Disclaimer: This article is for general informational purposes only and is not intended to be and should not be taken as psychological, legal, investment, financial, accounting, or tax advice.
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