So what is passive income? How do you define passive income? Can we say earning money with online paid surveys is passive income?

No, we can’t! earning money with online paid surveys is not a passive income idea because it takes the same effort each time to make same money.

So by definition, passive income means “Source of income that needs minimal effort and resources to maintain while it keeps on generating same or increased revenue“.

In short, passive income resources should free you from your work commitments and make your time free for activities you want to do while sustaining your finances. Writing books, investing in dividend stocks are examples of passive income sources.

Everyone should aim to create multiple streams of income for financial independence.

I will not say I will give you some magic way to earn passive income in 7 days or a month. I will help you in finding the best passive income ideas so that you can become financially independent.

You need to take the first step today so that you can enjoy your life while you keep earning money without putting in more effort.

First of all, find what you have to sell, what you can offer for money? For example, do you have knowledge that people would want to buy?

Then the next step is how you are going to exchange that for money: If you have knowledge then how you are going to sell so that it becomes a passive source of income.

If you offer counseling or one-on-one help then it will not be a passive source of income, as you will need to work every time the same amount for that money.

If you can create a book or a video tutorial by putting in one-time effort upfront, then it will be a passive income source for you.

Here, I have put up a list of the best passive income ideas for beginners that will generate money.

Millions of people make passive income online with multiple income streams. There is no reason you can not do it. There are different approaches on how to make passive income. The types of passive income streams have been divided into the following categories:

A. Passive Income from Money You Already have

This type of passive income is based on where you let your money earn you more money. You have to invest your money in the right places so as it earns you more money. Have you heard “rich people tend to get richer”?. That’s because they know how to make passive income with money. Let’s learn how to make passive income with your money.

B. By Creating Resources for Passive Income

If you are starting your financial journey or otherwise are not able to create enough money yet, you can always create resources that will generate passive income for you in years to come. This option takes more work because creating any income-generating asset takes hard work. But if you follow the ideas in this post, after putting in initial hard work you will have passive income assets in hand.

C. Passive Income by Saving Money

I truly believe in the idea that every dollar saved is equal to a dollar earned. If you can cut your unwanted expenses which do not affect your lifestyle then your financials will be much healthier. Saving money is in the passive income list because these listed methods work on auto mode and you don’t need to invest time to save money.

D. Other Innovative Ideas for Passive Income Streams

Then there are other different passive income strategies where you can leverage different things to create passive income. You can rent your stuff such as your empty room or backyard. These ways create money resources from things which you don’t need.

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