King bell
VIP Contributor
A lot of people want to generate passive income, but the big question becomes: What is the difference between passive income and residual income ?
In order to answer this question, it's important to first understand how they differ. Passive income is earned as a result of investment in an asset or multiple assets. This means that passively earned funds come from outside sources . Meanwhile, residual income is generated by supplying goods or services to customers over and over again. In other words, the more you sell your product or service (not just one time) , the more money you make !
Automatic payments are one of the most attractive components of residual income streams . Invoices sent to a customer are processed through invoicing software , and the customer pays them through a variety of methods . The most popular ways are credit card , debit card or electronic check .
In order to answer this question, it's important to first understand how they differ. Passive income is earned as a result of investment in an asset or multiple assets. This means that passively earned funds come from outside sources . Meanwhile, residual income is generated by supplying goods or services to customers over and over again. In other words, the more you sell your product or service (not just one time) , the more money you make !
Automatic payments are one of the most attractive components of residual income streams . Invoices sent to a customer are processed through invoicing software , and the customer pays them through a variety of methods . The most popular ways are credit card , debit card or electronic check .