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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 product or an investment where you dont have to do any more work after you set 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 that 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 ideas, the ones you can begin making money on immediately and will work through into the ones youll create the maximum money on as we proceed through the list so make sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things such as take polls, play video games, watch videos and test 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 the time. Swagbucks users have redeemed over $344 million in rewards 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 wealthy. 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 you can take action when youre doing something else so I flip through surveys and other things whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back website in which you get a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of the 4,000 retailers with a money 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 retailers site so that you receive all the other discounts and deals they offer, you simply get an additional bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average cash back around 6% of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich as you need to buy things to find the money back but its 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 big money.
I started my own websites in December 2014 and broke $5,000 per month just a couple of years later. 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 a month didnt happen overnight but only like real estate development, it build up an asset check my blog 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'll continue to send traffic even when I take a little time away. .