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You can work your butt off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them require a lot of work.
Passive income is money you earn from a product or an investment in which you dont have to do any more work once you put this up. That means consistent cash flow every month whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way you will be free from worrying about money and the only way you could ever reach financial independence.
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Im going to start with the simple passive income thoughts, the ones you can begin making money on instantly and will work through to the ones youll make the maximum money on as we go through the list so make sure to stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, play video games, watch movies and try out free product samples. Doing each of these, you earn points which are usually convertible to one hundred points for a buck.
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Now this isnt something thats going to make you rich but you can earn some legit money for less than an hour of your time. Swagbucks users have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd have to work 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks though is that you can do it when youre doing something else I flip through surveys and other stuff whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping cash back site in which you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack Click Here site then click through one of the 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you purchase. Youre still shopping right on the merchants site so that you receive the rest of the discounts and bargains they offer, you simply get an additional bonus for going through the TopCashBack site first. .
TopCashBack is somewhat better with the average money back around 6 percent of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you wealthy as you need to buy things to get like this the cash back but its completely free money on the things you were going to buy anyway. .
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Our next passive income idea is blogging. Im not a huge fan of the term blogger because it sounds like youre just writing random notes on a website. In fact, owning your own piece of electronic property is large money.
I began my own sites in December 2014 and broke $5,000 per month just two years after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to require work starting out. That path visit their website to $5,000 per month didnt happen overnight but only like property development, it build up an asset that now generates constant cash flow whether I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time away. .