Here are 7 valid reasons to create easy passive income streams in your spare time!
If you’ve never considered it, now is great time to create easy passive income streams, using your spare time. When you think about the way things are going these days, job security is clearly a thing of the past.
Who thought companies like ToysRUs and Macy’s, Target and all these other established companies would have been closing their brick-and-mortar stores? No one really, so could you imagine the heartache the people working at these places (and others) would have experienced when they heard the news of the closures and that they would have been losing their jobs.
Even when we don’t hear about it, companies close their doors and people end up losing their jobs.
Having a job provides so many benefits and having to face job loss can often be distressing to most people. The thing about it is that you never know when you might become a statistic so it makes sense to create easy passive income streams in your spare time. Including job loss, there are several other valid and compelling reasons why you should do that. Check it out!
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7 Valid Reasons to Create Easy Passive Income Streams
#1. Technological changes
Technology is allowing employers to streamline businesses and that could mean that you could be out of a job when those changes occur. In some cases people are being replaced by robots to do various jobs. Check out the snapshot below that gives an indication as to possible job losses in various states, due to automation.
While the automation is not about to happen right now and you may not be affected directly by it, it just makes good sense to have an alternative source of income because you never know what can happen.
#2. Job stress
Work environments can often be stressful. When you think about it, it’s as if some people thrive on stressing others out. They behave as if it’s in their job description or something.
Truth be told, it really makes no sense exposing yourself to continuous stress day after day for a salary you might have to use on doctor bills. Working in a stressful environment can make you feel like quitting your job, that’s for sure.
But understandably walking away is not always a viable option, that’s why it makes sense to create easy passive income streams in your spare time.
Having other income streams can allow you to eventually leave your stressful job behind. Added to that, there is the psychological benefit of knowing that eventually you can walk away from that stressful job.
Related: My Blogs Earned Over $100k Part-Time in 2018
#3. Lack of benefits
In some cases, you don’t always get benefits with a job. If you or your family get sick, you’re on your own if you don’t have health insurance benefits with your job or otherwise. In addition to which, you may not have the option of saving towards a 401K where you work. If that’s the case, what’s retirement going to look like for you?
So many people have retired from their jobs but they still need to work for various reasons. It’s either, they don’t have the benefits or their retirement money just isn’t enough to cover all of their expenses.
#4. Job security is a thing of the past
While technology may have a significant impact, it’s not the only factor that can impact job security. Despite the amount of profits some organizations make, business owners as well as managers, often make decisions for a leaner and more profitable organizational structure.
Those decisions often result in job cuts from that organizational restructuring. Earl Nightingale puts it best “The biggest mistake that you can make is to believe that you are working for somebody else. Job security is gone.
#5. Put your financial future in your own hands
Who would treat you better; a company that you’re relying on for ‘job security’ or you? Think about this for a minute. Are you guaranteed a job if it comes down to job cuts? Can you rely on the people you work for to keep you on?
If the answer is ‘No’ then clearly you can’t put your fate in the organization you work for. Why rely on someone else who does not have your best interest at heart?
Clearly you need to safeguard your future and creating another source of income before it’s too late, is a great way to do that. Don’t wait to become a statistic but start putting things in place so that you can be financially secured in the future. At least you’ll have another income source you can count if you ever have to face a potential job loss.
According to Nightingale “the driving force of a career must come from the individual. Remember: Jobs are owned by the company, you own your career!” You can use the things you love, even if it’s your career and create passive income streams.
#6. Online income opportunities
There are so many opportunities online that you can use to create easy passive income streams. The technological increase is not just taking jobs away but it has also created opportunities to earn an income in your spare time.
For example, some people earn extra money doing paid online surveys. But surveys take too long and all you really earn is beer money and chump change. The point is there are opportunities out there you can use to create easy passive income streams.
#7. Anyone can do this!
It matters not where you live, your age, or your educational background, anyone can learn to create easy passive income streams in their spare time. All you need to do is follow the proven path to success. Lots of people are doing this and becoming successful at it, so why not you?
So we’ve shared with you seven (7) valid reasons why you should create easy passive income streams. But just in case, you’re not sure what passive income is, we’ve answered that question below. But more importantly we’re wrapping this up by sharing with you how you can create easy passive income streams in your spare time.
What is a passive Income stream?
Simply put, a passive income stream is one is which you earn income over and from one source; regular earnings from a source. Passive income can come from rental property or a business in which you don’t actively participate in, such as being paid book royalties or stock dividends.
Even if you may not want to invest in property of dividends, an eBook is a great way to earn royalties. But all is not lost even if you don’t want to do something like that, because you can also create easy passive income streams online otherwise.
The fantastic thing about it is that maintaining your online asset is that it is far less costly as opposed to maintaining a rental property.
How to create easy passive income streams
There are several ways in which you can create easy passive income streams. As mentioned above, you can write an ebook. But you can also create an online course on Udemy as well. Our favorite passive income stream though is affiliate marketing and you can use it to combine all three options.
Affiliate marketing is a great way to create easy passive income streams and it all starts with your own website. The thing about a website is that it’s available 24/7 for anyone to access. That means you can make money anytime, even while you’re asleep.
Added to that, you can also have income coming from various sources. For example, you can set up your website in such a way that you can make money with Amazon, Google, as well as many other companies. That way, you’ve got multiple income streams.
When it comes to affiliate marketing, the sky is the limit!
How to get started!
Remember you can do this is your spare time. If however, you don’t have to time to do this yourself, you can get a done for you affiliate website. Of course that won’t be free but you can have someone else actually creates and run your affiliate website for you. If that sounds like something you would want to learn more about, then you definitely need to checkout Human Proof Designs to make that happen.
At HPD you can get sites that have already been created or you can have a new one created just for you. Just let them know what you want and they’ll create it for you.
If however, you want to get started free and learn how to create your own affiliate website then click here. All you need is an email address to get started. Remember anyone can do this. Meet thousands of like-minded people who have already created easy passive income streams. They’ll help you do the same thing.