One thing that separates successful people and those who are not in an organization when it comes to how they mange their finances is the fact that those who have a good management of their finances are having a passive source of income which enables them to save and invest in bigger things with their main source of income which would therefore increase the streams of incomes they have.
Do you have a passive income source?
- Thread starter Blessed19
- Start date
Many people may never have a passive income source. However, they can create one. It is very important to assess and analyse the right kind of investment opportunity in order to make money. This involves analysing different kinds of projects that may be worthwhile.
I have multiple passive income. Most of my passive income comes through blogging activities. I am earning money from the blog sites I have created 4-5 years ago. I also earn passive income through selling digital products.
Most people invest in offline income sources like bank deposits though the returns are lowers. The risk of losing money offline is also lower. Online advertising revenues have reduced to a large extent , though mining is paying well.
There are so many ways to earn money passively, one of which is to purchase an apartment and give it for rent. Although its not so easy but once you succeeded then you will get money passively on monthly basis and the cost of your apartment will increase day by day
Well, I did plan to start a blog a few years ago. However, the fact of the matter remains that I was not that successful like many other bloggers. You need to market your website and write exceptionally high-quality content which is worth selling. Only then you can earn money through a blog.
I am trying as much as possible to create a channel that will generate passive income for me. In reality, it is what each and every individual should always strive at.
I want a blog and a YouTube channel. All I need for the blog now are the articles and design, but I'm yet to create a new YouTube channel. It's hard to focus on other things if you have to sacrifice your time for money to pay your bills.
Currently, my source of passive income is the dividends I receive from the stocks I bought. I also own some shares in a start up. This company has grown a lot and is making profits. I receive dividends from the company from time to time.
I make some money online passively, yet the amount is very less compared to the amount of time and money which I have invested online . It is far easier to make money offline, due to dishonest greedy tech and internet companies.
Right now, I don't have a passive source of income but I plan on building them as soon as I start earning well. For now, I am striving to get a stable income source. Then I can start investing from there.
