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Here’s how to start building passive income streams this August for just £3 a day
['Christopher Ruane', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Ever wondered whether it's possible to put a few pounds aside each day and use it to build some passive income streams?
Rather than piling into a single income share, spreading even modest sums of money across a diversified group of income shares can help to reduce the risk if one of them turns out to disappoint.
So, the current FTSE 100 yield of 3% means that £1,095 should earn a bit over £30 per year in passive income.
So even if you stop putting new money in, this approach could still earn you passive income for decades.
Here's an income share to considerOne dividend share I think investors should look at now for its passive income prospects is Wickes Group (LSE: WIX).