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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 require a lot of work.
Passive income is money you make from a product or an investment in which you dont have to do any more work after you put it up. That means consistent cash flow every month whether youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way you will be free of worrying about money and the only way that you could ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones you can start making money on immediately and will operate through into the ones youll create the most money on as we go through the list so be sure you stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things such as take surveys, play video games, watch videos and look at this web-site try out free product samples. Doing each of these, you earn points which are usually convertible to one hundred points for a dollar.
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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 the 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 this isnt something thats going to make you rich. Youd have to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else I flip through surveys and other things whilst Im cooking dinner or 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 money.
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TopCashBack is an online shopping cash back website where you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of the 4,000 retailers with a money back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the merchants website so you get the rest of the discounts and bargains they provide, you simply get an extra bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat better with the ordinary money back around 6 percent of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy as you have to buy things to get 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 like youre just writing random notes on a site. In fact, owning your own piece of electronic real estate is big money.
I began my own sites in December 2014 and broke $5,000 per month just two decades after. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 per month didnt happen overnight but only like property development, it build an asset that now creates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time off. .