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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 some of them take 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 after you set it 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 you will be free from worrying about money and the only way that you could ever reach financial independence.
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Im going to begin with the easy passive income thoughts, the ones which you can start making money on instantly and will work 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 few passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch movies and try out free product samples. Doing each of these, 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 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 that the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd need to operate 2,500 hours to make $5,000 so thats approximately view it three and a half months, non-stop. The thing with Swagbucks though is you can take action when youre doing something else so 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 distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site where you receive a percentage discount on anything you buy online. Everything you do is start at the TopCashBack website then click through one of those 4,000 retailers with a money 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 right on the merchants website so you get all the other discounts and bargains they offer, you simply get an additional bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary 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 rich as you need to buy things to find 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 like youre just writing random notes on a site. In fact, owning your own piece of electronic property is large money.
I began my own sites in December 2014 and broke $5,000 per month just a couple of years after. 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 per month didnt happen overnight but only like property development, it build up an asset that now generates constant cash flow news if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even when I take a little time off. .