Carpon
Valued Contributor
As someone who is earning actively tye question comes to mind of the why of making another passive income and if yes passive income is needed how will passive income be generated or what are possible ways that someone can follow to make passive income.
First and foremost the reasons why passive income is necessary is because:
1. It requires minimal labour and therefore lack of it is like allowing a money making opportunity pass right in your face without grabbing it like you will grab a fly. If you refuse to make passive income you are doing nothing but harm to yourself that is if the media or way of making passive income is cheaply available and you refuse to engage it and make the most of it.
2. It is an extra source of income which can be used to augment you actual active income and therefore can be used basically as funds channelled for savings. The income that comes passively is better and we'll utilized when it is saved and allowed to accumulate over time and used when the need comes.
Then what are ways that one can earn passively?
There are many things you can do that brings passive income.
You can decide to rent out any extra room or apartment you have or your cab your tools and equipment etc. You can also engage in trusted investments that can bring interest over time. These and many more are passive income sources that if properly utilized will give good amount of money and income.
First and foremost the reasons why passive income is necessary is because:
1. It requires minimal labour and therefore lack of it is like allowing a money making opportunity pass right in your face without grabbing it like you will grab a fly. If you refuse to make passive income you are doing nothing but harm to yourself that is if the media or way of making passive income is cheaply available and you refuse to engage it and make the most of it.
2. It is an extra source of income which can be used to augment you actual active income and therefore can be used basically as funds channelled for savings. The income that comes passively is better and we'll utilized when it is saved and allowed to accumulate over time and used when the need comes.
Then what are ways that one can earn passively?
There are many things you can do that brings passive income.
You can decide to rent out any extra room or apartment you have or your cab your tools and equipment etc. You can also engage in trusted investments that can bring interest over time. These and many more are passive income sources that if properly utilized will give good amount of money and income.
