Passive income is income that you make from business, investments, or other sources, without having to work in them on a day to day basis. In effect you make money regularly without having to do much!
Examples of passive income are from buy to let investments, and income from dividends, interest and royalties.
For some types of passive income you need cash to get started. For example to purchase a buy to let investment you generally need a 15% deposit.
If you do not have spare cash you should consider making money from intellectual property, for example writing a book, song or an invention. This requires a lot of hard work and determination at the outset, but will pay off in the long run. Choose something based on your skills and talents.
For further information visit Building a Passive Income and Find Financial Freedom.
Debt Consolidation Explained contains general information only. We strongly advise you to seek qualified professional advice before taking any action.