What is Passive Income and How Can It Save You Time and Money?

What is Passive Income and How Can It Save You Time and Money?

One way to make money with the least amount of long-term effort is through passive income, something many people are starting to invest in. Passive income is any kind of income you earn on the side with less effort than a typical job. This income can be earned through royalties from artwork or photos, monetization of videos or blogs, and side-hustle jobs that leave room for your main career. Taking advantage of the newest forms of passive income might help you accomplish your financial goals. However, if your issue involves bankruptcy then do not wait to contact a Tennessee Bankruptcy Lawyer for help.


One of the latest forms of passive income can only be found online in digital formats and is related to the newer trends of cryptocurrency. While cryptocurrency methods of passive income may not be for everyone, some people might find non-fungible tokens interesting. Non-fungible tokens are pieces of digital art that many creative people might find enjoyable to make and come in many forms:

  • Digital illustrations
  • Vector graphics
  • Logos
  • Photos
  • Videos
  • Video clips of viral events
  • Music pieces

Hesitancy with digital money is understandable, but once you learn more about these alternate ways to make passive income, you might find yourself invested. The process for this is simple. You create a digital piece of art that you think people online will like. Then you post this digital artwork online on the proper platforms like OpenSea or Rarible, after doing research on what you think works best for you.

What happens next is these digital token art pieces are sold at the prices you choose. The part that makes people excited is how these tokens can go from a $5 value to a $69.3 million value depending on the trends of the marketplace.


Speaking of artwork, another form of earning passive income is to invest in online artwork by popular painters by purchasing a fractional share of the painting like you would with stocks. You can visit websites like Masterworks to start investing. Since artwork can increase in value with time, you have the chance of receiving more money with time.

You can also put ads on your car and earn money that way or start a blog with ads on your web pages. Google ads offer options but feel free to research other ways to monetize your blogs, online videos, and music. Technically, anyone can write a blog, but the real secret is to write about something that you know will compel people to click. Taking simple steps like these might be enough to finally accomplish your financial goals.


Call us today to speak with a knowledgeable lawyer about your financial concerns.  We practice law in Tennessee and North Georgia and are here to offer you financial guidance if you find yourself wondering if bankruptcy is the answer. We can answer your questions and concerns about the potential financial consequences that could follow. Call Tom Bible Law at (423) 690-77124 to speak with a skilled Bankruptcy Attorney for a free consultation today. Our team of Tennessee bankruptcy lawyers can be reached in our Tennessee offices in Chattanooga and Tullahoma.