What is passive income? Passive income Definition

What is passive income? Passive income Definition

Passive income is a type of job which you can do besides your active job.In this digital communication based society you utterly should have some source of income besides your main job.For example if you are a student your main job is to study but you should have another source of income which can help you to bear your own expenses, let's imagine you miserably fail in your final exam and you can only participate in the exam once, So what will you do? You must have a backup plan which can support you in your hard times and that is passive income.The definition of passive income is earnings from a rental property, limited partnership, or other business in which a person is not actively involved.

For example if you are a student you can make a youtube channel besides your study so the ad revenue you generate from that youtube channel can help you to bear your very own personal expenses.Some sorts of passive incomes are youtube channel,blogging,free-lancing,lemonade stalls,part-time working,baby sitting e.t.c .In this modern era you can't actually certainly think of what will happened to you as everything around is uncertain.So it is wise to keep a backup earning plan which can help you when you face hard times. Cryptocurrency is booming in this decade so investing in crypto for future can also lead you to secure a very stable financial life. Affiliate marketing can also be helpful when you are facing hustles to find a passive income source.