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You can work your ass off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them require a good deal of work.
Passive income is money you make out of a solution or an investment where you dont need to do any more work after you put it up. That means consistent cash flow each month if youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way you will ever be free of worrying about money and the only way you will ever achieve financial independence.
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Im going to start with the simple passive income thoughts, the ones which you can start making money on instantly and will work through to the ones youll make the maximum money on as we proceed through the list so make sure you stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things such as take surveys, play video games, watch videos and test out free product samples. Doing each of these, you earn points which are ordinarily 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 basics 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 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 about three and a half months, non-stop. The thing with Swagbucks though is you can do it when youre doing something else so I flip through surveys and other things whilst Im cooking dinner article or 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 in which you get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack 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 directly on the merchants website so that you receive the rest of the discounts and deals they provide, you just get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat better with the ordinary 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 because you need to buy things to find 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 big fan of the term blogger as it sounds just like youre just writing random notes on a website. In fact, owning your own piece of digital property is large money.
I began my own websites in December 2014 and broke $5,000 a month just two decades later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That route to $5,000 per month didnt happen overnight but just like real estate development, it build up an asset that now creates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even if I take a little time off. .