Economists say that human needs are insatiable. This means that even if you make $100 monthly, you’ll always find reasons to make more - If you add one more zero, and make $1,000, you’d still find reasons to double your hustle. This is because humans are wired to always want more income, more freedom, more flexibility, and more everything.
When it comes to finances, one of the best ways to get “more” is by increasing your income streams. Having only one source of income may get periodical, and never enough sometimes.
What is Passive income?
Passive income is money that does not require much active input for profitability - the type you can get even while sleeping. As the name implies - “passive” - You don’t work for money; money works for you.
Almost nobody today doesn’t want some extra cash on the side. Not only does it boost your financial portfolio, it also gives you peace of mind. However, to get here, passive income is the way.
How then do you make passive income?
To build a financially comforting future, understanding how money works is key. Money is simply a tool. Finding how to harness that tool (money) for wealth generation while engaging in other things is the definition of passive income. So, how do you make passive income?
Create an online course
Selling a course online was determined to be among the best ways to make passive income in 2021. It’s a rather interesting source of making money because now, more than ever, people are online. Creating a course that people need would solve their knowledge gap and fix your pocket lag.
Although not everybody can create a great online course due to the knowledge required, it is a very functional way of value addition and income generation.
Invest in Real estate
Investment in assets is very lucrative and one that can be honed in building a healthy income hive. Many real estate options can be invested in, including purchasing and renting assets and commercialising properties.
Real estate is a great passive income generator and an ideal income flow for individuals who can afford the money required to buy the assets required.
Automate your investment with Accrue.
Among the best ways to make passive income is financial investments in crypto & stocks. The cherry on this cake is being able to automate these investments while minimizing your risk. At Accrue, we have made this possible. We have created the No 1. investment app for beginners - where users can automate their investment, manage risks, and build their financial portfolio with ease.
We have created a platform that allows you to earn passive income, even without actively monitoring it. We also have investment plans and collections that allow you to select your preferred asset for investment.