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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 a number of them require a good deal of work.
Passive income is money you earn from a product or an investment where you dont have to do any more work after you put it up. That means consistent cash flow every 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 be free of worrying about money and the only way that you will ever reach financial independence.
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Im going to begin with the simple passive income ideas, the ones you can start making money on immediately and will operate through into the ones youll create the most money on as we proceed through the list so make sure to stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing all them, you earn points that 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 rewards 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 this isnt something thats going to make you wealthy. Youd need 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 that you can do it when youre doing something else I flip through polls and other my site stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site where you get a percentage discount on anything you buy online. What you do is start in the TopCashBack website then click through one of the 4,000 retailers with a cash 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 directly on the retailers site so that you receive the rest of the discounts and deals they offer, you just get an additional bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average money back around 6% of your purchase so in the event that you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy as you need to buy things to get the cash 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 real estate is large money.
I started my own websites in December 2014 and broke $5,000 a month just a couple of years after. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to take work starting out. That route to $5,000 a month didnt happen overnight but just like property development, it build up an advantage that now creates 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 visitors even when I take a little time off. .