Having more than one source of income is pretty common these days. For some people, it’s a way to make ends meet. For others, it’s a way to grow their wealth.
It can also be a way to feel more financially secure. If one source of income dries up, there is another that can fill in the gap. While a common source of income is the type earned from a regular job, there is also passive income.
Creating and managing passive income streams isn’t a passive activity. It requires upfront work and, sometimes, investment to build up a source of passive income. Depending on what your passive income source is, for instance a blog or podcast, it may require you to put in time each week to keep it earning you cash.