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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 where you dont have to do any more work once you set this up. That means consistent cash flow every 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 that you will ever reach financial independence.
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Im going to begin with the simple passive income ideas, the ones you can begin making money on instantly and will work through into the ones youll make the most money on as we proceed through the list so be sure you stick around to grab those last couple of passive income plans. .
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 each of 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 users 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 have look here to work 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks though is that you can take action when youre doing something else I flip through surveys and other things whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site in which you receive a percentage discount on anything you buy online. Everything 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 merchants site so that you receive the rest of the discounts and deals 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 to get $60 back. Again, not something thats going to make you rich because you need to buy things to get the money back but its 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 big fan of the term blogger as it sounds just like youre just writing random notes on a website. In reality, owning your own piece of electronic real estate is big money.
I started my own websites in December 2014 and broke $5,000 a month just a couple of years after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That route to $5,000 per month didnt happen overnight but just like property development, it build up an asset 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'll continue to send traffic even if I take a little time away. .