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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 some of them take a good deal of work.
Passive income is money you make out of a solution or an investment where you dont need to do any more work after you put this up. That means consistent cash flow each month if youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way that you will be free from 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 which you can start making money on instantly and will operate through to the ones youll create the maximum money on as we go through the listing so make sure to stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things such as take surveys, play video games, watch movies and try out free product samples. Doing all them, 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 users have redeemed wikipedia reference 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 rich. 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 though is that you can do it when youre doing something else I flip through surveys 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 so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back website in which you receive 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 percent to 25% cash back on anything you buy. Youre still shopping directly on the retailers website so you get all the other discounts and deals they provide, you simply 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 if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy because you need 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 notion is blogging. Im not a huge fan of the term blogger because it sounds just like youre only writing random notes on a site. In reality, owning your own piece of digital real estate is large money.
I began my own websites in December 2014 and broke $5,000 a month just two years later. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 per month didnt happen overnight but just like property development, it build you can look here an advantage that now creates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even if I take a little time off. .