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You can work your butt off to make 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 take a lot of work.
Passive income is money you earn from a solution or an investment where you dont have to do any more work after you put it up. That means consistent cash flow each month whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will be free from worrying about money and the only way you could ever achieve financial independence.
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Im going to begin with the easy passive income thoughts, the ones you can start making money on immediately and will work through into the ones youll create the maximum money on as we go through the list so be sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to site so that you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing all 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 consumers have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little while and have found that the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd have to operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is that you can do it when youre doing something else I flip through polls and other things whilst Im cooking dinner or top article even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site where you receive a percentage discount on anything you buy online. Everything you do is start at the TopCashBack website then click through one of read this post here the 4,000 retailers using a money back program.
These are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the merchants site so you get all the other discounts and deals they offer, you just get an additional bonus for going via the TopCashBack web site . .
TopCashBack is somewhat better with the average cash back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you rich as you need to buy stuff to get the money 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 big fan of the term blogger because it sounds like youre only writing random notes on a website. In fact, owning your own piece of electronic real estate is large money.
I began my own sites in December 2014 and broke $5,000 per month just a couple of decades after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to take work starting out. That path to $5,000 per month didnt happen overnight but just like property development, it find build an asset that now generates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that'll continue to send traffic even if I take a little time off. .