Carpon
Valued Contributor
Passive income is very necessary most especially for countries where there is a high level of economic hardship and an increasing rate of unemployment. The importance of passive income are so numerous and here are a few of them
• Passive income augments your active income and helps you in stabilizing your financial life. At times, the amount you earn from your active income source may be deficient and so your passive income will be there to make up for it.
• In cases when you lose your job or have a delay in salary payment, your passive income source will be your escape and even when such an unwanted situation sets in, you can be able to have something to lay your hands on and take care of some needs.
• Passive income also makes you self dependent. You will not depend on your parents as a student. It also eases one of stress since you won't have to put much effort before you earn.
• Passive income augments your active income and helps you in stabilizing your financial life. At times, the amount you earn from your active income source may be deficient and so your passive income will be there to make up for it.
• In cases when you lose your job or have a delay in salary payment, your passive income source will be your escape and even when such an unwanted situation sets in, you can be able to have something to lay your hands on and take care of some needs.
• Passive income also makes you self dependent. You will not depend on your parents as a student. It also eases one of stress since you won't have to put much effort before you earn.
