Whenever we think about generating passive income, we always think about a rich person trying to invest wealth in any kind of business opportunity. This helps people to generate passive income. The more money you invest, the more you may be able to generate in return. However, what if you are a poor person and do not have money at all? What would you do under such kind of circumstances?
How To Generate Passive Income If You Are A Poor Person?
- Thread starter Passiveearner
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If you do not have enough capital to invest in something big to generate passive income, then you can go for something smaller. There are various things you could go into to make extra cash such as blogging, affiliate marketing and the likes.
A poor person may get into the passive income generating way by leveraging an otherwise unimportant or humble asset. For instance, if living in an urban setting, such individual could offer his/her wheelbarrow for hire. This strategy would earn the person a small amount of passive income.
Being a poor person one can't purchase a house and give it for rent to get passive income regularly. Poor person can make free website on blogger and orient it with the affiliate products link of Aliexpress and Alibaba and generate passive income.
- Thread starter
- #8
People may make money with money. In order to do that, they may get a high-paying job or they may start their own business and sell products that have a huge demand. They may need to save money if they are poor in order to invest and make money.
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- #12
Poor people are most likely to invest a really small sum of money and i think that this is a really great way to generate passive income and test the idea in the best manner. Testing any kind of investment opportunity is crucial, especially if you have a limited amount of money.
Earning passively or investing in a passive means of income does not mean someone has to have a huge amount of money to invest in for their other means which you can invest your little amount and be receiving your money passively which you can also use to increase the investment.
I would not advise any poor person to focus on earning passive income. The need to make money to pay your bills will never allow you focus on building wealth to generate passive income.
It's best to focus on being self sufficient, then rich, before passive income.
It's best to focus on being self sufficient, then rich, before passive income.
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- #15
Well, i think that the first thing a poor person must do is save at least some amount of money that could help him invest bit by bit. A time will come when such kind of person may have enough funds.
This is a rational proposal. Considering that the chances of getting into a huge sum of money are minimal for a poor person, the idea of saving the little cash that one obtains is feasible. As they say, 'little by little fills a jar'.
It's definetly not easy to generate passive income without any mo.ey maybe start with making money there are ways to make money if you don't live in top tier it's harder but even if it's little it's something you can start with
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- #19
This is why I emphasise so much on saving money as much as I can. This is quite important, especially if you have any kind of idea that may require you to invest a huge sum of money in order to invest and earn cash. Investing money is a difficult decision.
Most of those I have seen inviting me to affiliate marketing are always asking for a large sum which I can't afford and they said it's needed to buy the course and also for mentorship. These are what discourage me from learning that and I am not also sure if it will make profit.