Who wouldn’t want to earn an extra income without having to work as much? Pretty sure every one of us dreams of having to not worry about our financial responsibilities. This is why a lot of effort into improving their career, in growing their business, and are also continuously trying to look for other ways to earn a living.
Active Income vs Passive Income
Part of being a responsible adult is money management and the most important thing involved in money management is your income. Keep in mind that if you aim for financial success, the basic money management principle you must always live by is to make sure that you have more money coming in than you have going out.
Having to know where your money comes from is also important, this is why you have to understand the difference between an active and a passive income.
- Active Income – This is the income you earn out of doing your regular job. You earn your active income by putting in your time and active efforts to earn money. Furthermore, it can also come from having your business.
- Passive Income – This is the type of income wherein you put your money to work for you. At first, it may require you to put on some upfront time and effort but after a while, there will be no great need for that time and effort.
Generally speaking, a passive income can be categorized into three types:
- Rental – these are income gained from leasing a piece of property.
- Investment – This is done by apportioning some of your money into an asset, an item, or a business to generate an added income.
- Online – The rise to fame of e-commerce has also opened a lot of doors to different earning opportunities online.
Since this blog post is all about Passive Income and how you will be able to effectively accumulate it, we have listed some possible ways for you to earn a passive income this year, 2019.
Passive Income-Generating Ideas
INVEST IN REAL ESTATE
The cost of investing in real estate is relatively high. This is why a lot of individuals choose to buy properties or invest in REITs. Investing in real estate involves:
- Management rental or selling of the real estate for a profit, etc
LOAN MONEY VIA PEER-TO-PEER LENDING
In Peer to Peer Lending (P2P), you will be matched with a prospective borrower in return you will be earning out of the interest on the borrower’s repayment. As for Peer to peer-to-peer lending platforms, they serve as a middleman for pooling money from lenders and connecting them with borrowers.
Investing will open a lot of opportunities for you to increase your financial worth! Here at Vidalia Lending, we welcome every interested investor to be a part of our success! For your inquiries, you may visit our help center or message us on Facebook.
RENT YOUR HOME (OR ROOM) WITH AIRBNB
Whether you have a vacant room, a vacation house, or a property where you are not usually you can rent it out for an added income.
Let us help you build a secure future financially, with a minimum investment of P5,000 you are guaranteed fixed cash returns. Here’s how our Investment process works: All you need to do is apply online and not miss this great opportunity to start preparing and saving for your future!