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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 take a good deal of work.
Passive income is money you earn from a product or an investment in which you dont need to do any more work once you set it up. That means consistent cash flow each 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 be free of worrying about money and the only way that you could ever reach financial independence.
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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 work through to the ones youll make the maximum money on as we proceed through the list so make sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to site so you get paid to do things such as take surveys, play video games, watch movies and test out free product samples. Doing each of them, you earn points which are usually 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 while and have found that the money works out to check out here just under $2 an hour so 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 that you can take action when youre doing something else so I flip through surveys and other stuff whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping money back website where you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of the 4,000 retailers with a money back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping right on the retailers site so you receive all the other discounts and bargains they provide, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average cash back why not check here around 6 percent of your purchase so in the event that you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich because you have to buy things to get the money back but its completely 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 like youre only writing random notes on a website. In fact, owning your own piece of digital property is big money.
I began my own websites in December 2014 and broke $5,000 per month just two decades later. I averaged $5,500 through 2017 and thats not including side hustle 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 real estate development, it build up an asset that now generates 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 when I take a little time away. .