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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 some of them take a lot of work.
Passive income is money you make from 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 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 you can begin making money on immediately and will work through into the ones youll create the most money on as we go through the list so be sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things like take polls, play video games, watch videos and test out free product samples. Doing all these, you view it earn points that 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 consumers have redeemed over $344 million in rewards for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found that the money works out to just under $2 an hour this isnt something thats going to make you rich. Youd need to operate 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 do it when youre doing something else I flip through polls and other things whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping money back site in which you get a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of those 4,000 retailers with a money back program.
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 right on the retailers site so that you receive all the other discounts and bargains they offer, you simply get an additional bonus for going via the TopCashBack site first. .
TopCashBack is somewhat better with the ordinary cash back around 6 percent 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 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 big 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 electronic real estate is large money.
I began my own sites in December 2014 and broke $5,000 per month just two 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 real estate development, it build up 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'll continue to send traffic even when I take a little time off. .