Making money while you sleep...now that's the life. Some passive income ideas require a little upfront work and other don't . Either way it's worth it. Take the extra money to pay off debt or save.
You don't need a ton of money to start.Maximize the assets you have to serve as your baseline investment.Instead of putting money in a savings account, put it somewhere it can grow.
Look at things like real estate, crowdfunding, wine, geeky collectibles, or luxury watches. Did you know a $10K investment at LuxeStreet pays 12% throughout the year? Not too shabby.
Banks are loaning people money and making a profit. Why not you? Peer-to-peer lending platforms are growing. Consider loaning your money in return for interest.
You really can't go wrong with good old fashion dividend stocks. There a nice return on investment. It's a proven income stream with more than 100 years of heritage.
High risk = high rewardQuestion: "Who would invest in a startup company with no track record, no customer base, and no surefire path to revenue growth?” Answer: only an angel.
Utilize the real estate in your home could bring in some extra income without having to do much for it. Note: Be sure you're allowed to rent it and have the tenant sign a contract.