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You can work your ass 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 lot of work.
Passive income is money you earn from a product or an investment where you dont need to do any more work once you put it up. That means consistent cash flow every 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 that you will ever reach financial independence.
Im going to share my seven favorite passive income sources, income streams I use to make money each month. Now Im not going to sugar coat this, a few of them are going to take work but will mean thousands a month you can count on.
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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 to the ones youll create the maximum money on as we proceed through the list so be sure to stick around to catch those last couple of passive income strategies. .
Our very first facet hustle idea is with bargain sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income ideas since theyre different types of sites.
Swagbucks is a get-paid-to website so you get paid to do things such as take surveys, play video games, watch videos and test out free product samples. Doing all these, 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 consumers 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 the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd need to work 2,500 hours to make $5,000 so thats approximately three and you can look here a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else so I flip through polls and other stuff while Im cooking dinner or flipping channels. .
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TopCashBack is an online shopping money back website where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of the 4,000 retailers with a cash back this contact form program.
All 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 merchants website so that you receive the rest of the discounts and bargains they provide, you simply get an extra bonus for going via 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 as you have to buy stuff 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 it sounds just like youre only writing random notes on a site. In fact, owning your own piece of digital property is big money.
I started my own websites in December 2014 and broke $5,000 per month just a couple of decades later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to take work starting out. That route to $5,000 a month didnt happen overnight but only like property development, it build an advantage that now generates 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. .