King bell
VIP Contributor
If you are a newbie to the world of passive income, you might be asking , "What is passive income ?" That's a fair question and one that has many answers .
Passive income is simply the money generated from working hard on your business - without actually having to work on it day in and day out . It may come from renting out properties you don't live in or a small business with low maintenance needs , for example .
One way you can earn money passively is by using residual income .
Residual income is money you make from your business after all the costs of running it are covered . If you have a small business with simple expenses, such as buying supplies, there's no doubt that you will keep more money coming into your bank account than going out. As a result, you will have residual income .
Passive income is simply the money generated from working hard on your business - without actually having to work on it day in and day out . It may come from renting out properties you don't live in or a small business with low maintenance needs , for example .
One way you can earn money passively is by using residual income .
Residual income is money you make from your business after all the costs of running it are covered . If you have a small business with simple expenses, such as buying supplies, there's no doubt that you will keep more money coming into your bank account than going out. As a result, you will have residual income .
