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You can work your ass off to make 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 make out of a product or an investment in which you dont need to do any more work once you put this up. That means consistent cash flow every 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 will ever reach financial independence.
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Im going to begin with the easy passive income ideas, the ones you can begin making money on immediately and will work through into the ones youll make the maximum money on as we go through the listing so make sure to stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing each of them, you earn points that are usually 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 More Help 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 so this isnt something thats going to make you wealthy. Youd have 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 you can do it 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 by using their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back website in which you get 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 cash back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants site so you receive the rest of the discounts and deals they provide, you just get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat better with the ordinary money back around 6 percent of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy because you need to buy stuff to find the cash 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 huge fan of the term blogger as it sounds like youre only writing random notes on a site. In reality, owning your own piece of electronic real estate is large money.
I started my own sites in December 2014 and broke $5,000 per month just two decades later. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That path to $5,000 per month didnt happen overnight but only like property development, it build up an asset 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'll continue to send traffic even if I take a little time off. .