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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 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 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 start with the simple passive income thoughts, the ones you can start making money on immediately and will work through into the ones youll make the most money on as we go through the listing so be sure you stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so that you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing all these, 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 view it now 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 rich. Youd need to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks though is you can take action when youre doing something else I flip through polls and other things whilst Im cooking dinner or even 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 cash.
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TopCashBack is an online shopping cash back website in which you get a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of those 4,000 retailers using a cash back program.
These are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you purchase. Youre still shopping directly on the merchants site so you receive the rest of the discounts and deals they provide, you just get an extra bonus for going via the TopCashBack site . .
TopCashBack is a little 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 rich as you need to buy things to get the cash back but its completely 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 digital property is large money.
I began my own sites in December 2014 and broke $5,000 a month just a couple of years later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to Extra resources take work starting out. That route 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 if I take a little time off. .