What is passive income all about? Why do you want it? How do you get it? I will give you simple and easy to understand explanations in the content below.
Sleep Money – Yeah, I Love Sleep Money
As a kid, I always wanted to figure out how to make money even while I was sleeping. I didn’t know there were already ways to make money passively and I had never heard of the term passive income, but once I started making it by blogging, I was hooked.
What Passive Income Is
“Passive income is generally defined as a stream of income earned with little effort, And it is referred to as progressive passive income meaning there is little effort needed from the individual receiving the passive income in order to grow the stream of income.” – Wikipedia
What Is Passive Income All About? – How to Generate Passive Income
There are quite a few ways to generate passive income, but a couple of my favorites are from investments (getting paid dividends) and affiliate marketing.
Affiliate marketing is basically selling a product that is someone else’s and you get a commission.
When you start a blog and have affiliate products on the blog, you make commissions when people click through and visit the product to buy, you get paid commissions.
The reason it is passive is because you can set it and forget it. You might need to do a little upkeep, but you are able to earn pretty passively.
When you earn passive income, you are able to take that money and invest in more passive income machines. The more that you have, the more that you earn from either investing or creating more blogs and getting traffic to them.
What are some ways that you earn passive income or are working on earning passive income? Share in the comments below.
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