I know, I know, the burning question is what is passive income?
Passive income is a term used to describe income that you earn without actively being involved. This doesn’t mean you don’t work at all, it can simply mean you do all the work upfront. It can also be a term that involves cash investment such as rental property.
I have read passive income described as assets. Assets that are bought with money or through hard work and effort.
For the purpose of this blog I consider passive income to be assets you can create or start with smaller amounts of money. I’m not talking about investments in property or stocks and shares – if we had enough money to buy large assets I doubt we would be looking into passive income ideas and setting up side hustles.
Why am I writing about passive income?
As a self-employed freelancer I struggle with the fact that if I’m not working I don’t earn. I don’t get paid sickness or holiday from my work so if I take time off with the kids I don’t earn. So finding a way to do all the work upfront and get paid without doing anything more was very attractive to me.
The first passive income stream I tried was Amazon FBA. I have been an Amazon FBA Seller since 2016 and still get very excited when a sale shows up in the app. This has sparked an interest into finding more ways to earn passively. Ways that I want to share with others as it doesn’t always involve cash investment.