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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 product or an investment in which you dont need to do any more work once you set it up. That means consistent cash flow each month whether 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 ever be free of worrying about money and the only way that you could ever achieve financial independence.
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Im going to start with the simple passive income ideas, the ones you can start making money on immediately and will operate through to the ones youll make the most money on as we proceed through the list so be sure you stick around to catch those last few passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things like take surveys, play video games, watch videos and try out free product samples. Doing each of them, you earn points which are ordinarily 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 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 go to website hour this isnt something thats going to make you rich. Youd have 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 take action when youre doing something else so I flip through surveys and other things while 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 cash.
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TopCashBack is an online shopping money back site where you get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack site then click through one of the 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping directly on the retailers site so that you get the rest of the discounts and deals they offer, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average money back around 6 percent of your purchase so in the event that you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich because 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 notion is blogging. Im not a huge fan of the term blogger as read more it sounds like youre only writing random notes on a website. In reality, owning your own piece of electronic property is large money.
I started my own sites in December 2014 and broke $5,000 per month just a couple of years later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That route to $5,000 a month didnt happen overnight but just like property development, it build an asset 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 traffic even if I take a little time away. .