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You can work your butt 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 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 each 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 be free from worrying about money and the only way you could ever reach financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can start making money on immediately and will operate through into the ones youll make the most money on as we go through the listing so be sure you stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, play video games, watch videos and test 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 of your 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 so this isnt something thats going to make you wealthy. 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 however is that you can take action when youre doing something else so I flip through polls and other stuff whilst Im cooking dinner or even 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 cash.
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TopCashBack is an online shopping money back website where you get a percentage discount on anything you buy online. view Everything you do is start in the TopCashBack website then click through one of those 4,000 retailers with a money back program.
All 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 directly on the merchants site so you receive all the other discounts and deals they provide, you simply get an extra bonus for going through the TopCashBack site first. .
TopCashBack is a little 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 rich 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 huge fan of the term blogger as it sounds like youre only 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 after. 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 per month didnt happen overnight but just like property development, it build an advantage 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 traffic even when I take a little time away. .