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Making Extra Money AND Extra Time With Passive Income

Of course we all want to make extra money, right? But what is even more valuable than extra money? Extra time. Why not shoot for both?

When thinking about your plans to earn extra money also think about the extra time you want to gain. After all, what use is extra money if you don’t have time to spend it because you are always working?

When most people want or need extra money they automatically think Part Time Job such as security guard or waiter\waitress. That may get you what you need in the short term but you are now “chained” to this job if you want to keep the extra money flowing in.

The best income of all is passive income – income that you receive without having to be somewhere to earn it. Amazon receives passive income through the company’s web site sales. Jeff Bezos, the owner of Amazon earns income while he sleeps!

Stock dividends are another form of passive income. You earn the dividend without physically doing anything (besides buying the stock) and without physically having to be anywhere.

There are many ways to earn passive income. Most ways require work up front to set things up but then as you get your systems set up and make your tweaks the money can start flowing passively. If you have things set just right you can sit back and enjoy your time AND your new income. Of course you should look in on your new income stream from time to time to make sure everything is running smoothly but this should require just a few hours per week instead of the usual 40 hours per week that a “typical” job requires.

Of course these passive income streams are not easy to create. However, by putting in the time, thought and energy up front you can find what works for you. You would have put the time, thought and energy into the part-time job anyway, right? Why not make it work for you in the long run?

In the next few weeks I will be posting some ideas that can make you passive income. Stay Tuned!