Here’s how you can start earning passive income and Manage it with BillClap!
Active Income is when you are working for the money. Your salaried job is a prime example. You work continuously for it every week/month/quarter or year. Passive Income is when the money is working for you. For example, a high-paying website or a youtube channel is the best example.
When you are earning passive income, you can make money even when you are chilling out with your friends at a hill station. The best thing about passive income is it will take very little effort to maintain and it will compound big enough for you to relax and have a nice life.
Here’s how you can earn Passive Income:
1. Write, Publish and Sell a Book: This is literally the best way to earn passive income. If you have knowledge about a particular topic or writing is your passion then this is the best way to showcase your skill and earn from it. Go ahead and write a book on a topic that interests you or you think would sell like hotcakes! If not a book you try starting a website, a blog, or just go on to the virtual readers to show your writeups!
2. Invest: If you have extra money to spare then there are plenty of options to invest your money. Gone are the days where the best financial advice you received was saving money in a bank. The current trend is to invest it, be it on the Share Market, Mutual Funds, or buying and selling of securities. Just gain some knowledge about investing and start your journey to earn passive income.
3. Create Value: This is another advice or method as you call it where you can earn passive income. The idea is to make content for your audience. Pick up any skill you are good at. It can be singing, dancing, or just becoming a motivational speaker. The idea is to create something that can either entertain people or just solve a lot of problems faced by a lot of people.
Now that you understand what passive income really is and how you can start earning your own passive income. Now comes the tough part which is managing your money. We all know and realize how managing money can be so overwhelming since there are a lot of jargon involved related to Finance. For example, Income tax is itself a very complex area and no person can know it all. On the other side every year we have a budget and it gets difficult for a common person to understand how to manage the money one is earning.
Here’s the solution, it is BILLCLAP! At BillClap, you don’t have to do anything, we will manage the money for you so that you can just sit back and enjoy spending it on your near and dear ones and you can earn even more by investing it further.
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