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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 good deal of work.
Passive income is money you earn out of a product or an investment in which you dont have to do any more work once you set this 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 be free of worrying about money and the only way you could ever reach financial independence.
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Im going to begin with the simple passive income ideas, the ones you can begin making money on instantly and will work through to the ones youll create the most money on as we go through the list so make sure to stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things such as take polls, play video games, watch videos and try out free product samples. Doing each of them, you earn points that 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 money for less than an hour this page of the time. Swagbucks users 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 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 though is that you can do it when youre doing something else so I flip through polls and other things while Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer find out here now so sign up here to snag your bonus money.
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TopCashBack is an online shopping money 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 those 4,000 retailers using 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 right on the merchants 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 first. .
TopCashBack is somewhat better with the average cash 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 rich as you have to buy things to find 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 just writing random notes on a website. In fact, owning your own piece of digital property is large money.
I began my own sites in December 2014 and broke $5,000 a month just two years later. 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 per month didnt happen overnight but only like property development, it build up 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 when I take a little time away. .