![]() That’s because we’re earning passive income and our money is working for us, rather than the other way around. Today we only work around 15 hours per week on our businesses, so our hourly wage is much higher than it ever could’ve been in Canada. While others simply put in the time and energy, without investing any money.ĭariece and I didn’t have a lot of extra money when we first started searching for passive income ideas, so we knew we’d have to work upfront, but that in the long run, it would be a lot better than trading dollars for hours in our traditional jobs. Some people who want to earn passive money already have a considerable amount of money in the bank and don’t mind spending some money to make some. Put in the time and work up front, then reap the benefits later. ![]() To earn passive income you basically have two options. For every 10 tries, only one idea might stick, but once one does it’s worth all of the trouble along the way. The key is to find an idea that works, and then try to repeat it as much as possible. Sound too good to be true? It’s not! We have found a few great passive income ideas that earn us thousands each month. Step 4: Sit back and watch your bank account grow. Step 3: A/B test, tinker with and adjust the passive income model to try to optimize your revenue Step 2: Work hard on your new passive income idea for a few weeks to set up the automation Step 1: Come up with a passive income idea Here’s How Passive Income Generally Works You need to try as many different passive income strategies as you can and hopefully one will stick. ![]() ![]() Thanks to the internet, there are more passive income ideas today than there ever have been in the past and earning money while you sleep has never been easier.īut that doesn’t mean you’re going to hit the jackpot and figure out how to make money fast on the first try. While no money is 100% passive, it is possible to set up a deferred income stream wherein you put in a considerable amount of work upfront to get a system in place that can continuously pay you dividends with little or no effort on your part. “ Passive income is income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.” Before we get started, I think it’s best that we explain exactly what is passive income. ![]()
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