We’re nearing the end of our battle with the pandemic. As the country continues its vaccine rollout program, we may soon go back to normal. However, many of us will have to deal with the economic displacement brought upon by the global health crisis. In fact, a report on SpareRoom reveals that more than a quarter of people aged 18-40 had to consider refinancing options due to the pandemic. Not to mention, they were forced to put their financial goals on the back burner.
If this sounds like you, it’ll do you well to open up new streams for revenue through passive income. In this post, we’ll talk about five passive income ideas that’ll allow you to keep your day job, as well as support your lifestyle during these tough times.
Forex trading is one of the most viable passive income sources today. Simply put, you can make money on the forex market by buying and selling currency pairs. Forex is the most flexible market you can participate in — as it is open 24 hours a day, 5 days a week, and can be accessed remotely. FXCM’s primer to forex trading notes that all you need to start is to sign up to an online trading platform that fits your trading needs. To ensure the success of your trading journey, be sure to educate yourself on different forex topics and trends.
Renting Out Your Property
If you have spare property that isn’t being used, you can open it up to renters and gain passive income. If you don’t want long-term tenants, you can…